Vietnam Software as a Service Market to dominated by Cloud segment till 2026
Increase in the adoption of
public and hybrid cloud and the growing IT industry are expected to drive the
demand for Vietnam Software as a Service market for the forecast period.
According to TechSci Research report, “Vietnam
Software as a Service Market By Business Application (Marketing, Customer
Relationship Management, Business Operations, Finance, Database Management,
Enterprise Resource Planning, Others), By Offering (Horizontal SaaS, Vertical
SaaS) , By Organization Size (Large Enterprises, SMEs), By Deployment (Cloud, On-Premises), By End User (Manufacturing,
Healthcare, IT & Telecom, Retail, Education, BFSI, Others), By Region,
Competition Forecast & Opportunities, 2026”, the Vietnam Software as a
Service market is expected to witness a growth of steady CAGR for the forecast
period, 2022-2026. Software as a Service is a cloud-based service delivery
model in which the service provider develops and delivers the cloud application
software, makes the software available to the customer through the internet
facilities, and is a subscription-based model. Software as a Service provides
automatic software updates and can significantly lower the costs and upgrade
the business solutions. It can predict the total cost of ownership and with
greater accuracy, which aids in maintaining the proper functioning of the
organization. The improving economic conditions of the country and the rise in
infrastructural development and established organizations are fueling the
demand for flexible, affordable, and scalable solutions. Growing consumer
awareness and the high-end investments by the market players to provide online
services and offering attractive facilities such as easy pick-up and delivery
options, online payments gateways to attract the customers is propeling the
market demand. The increase in the use of mobile applications for online
payments, availing healthcare and food delivery services is accelerating the
demand for Software as a Service based mobile applications. Organizations aim
to fuel the real-time users and the user engagement interface; therefore tend
to adopt affordable and efficient solutions. Also, the organizations using
Software a Service have access to data silos which can help in generating
insights to make smart business decisions.
However, rising privacy and data security concerns may
hamper the Vietnam Software as a Service market growth for the forecast period.
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Vietnam
Software as a Service market is segmented into business application, offering,
organization size, deployment, end user, regional distribution, and company.
Based on the organisation size, the market is divided into large enterprises
and SMEs. The large enterprises segment is expected to hold the largest market
share for the forecast period, 2022-2026. The adoption of the Software as a
Services lowers the operational costs and can efficiently manage the
organization needs. Large enterprises outsource the services and applications
and prefer to adopt the cloud computing services such as Software as a Service
to lower the expenses on the infrastructure. Large enterprises can provide
customers with enhanced services and perform better at lower costs. Microsoft
Vietnam LLC, Oracle Vietnam Pte Ltd, SAP Vietnam Co. Ltd., Adobe, Inc,
Salesforce.com Inc, Saigon Technology, FPT Software, IBM Vietnam Co., Ltd.,
Cisco Systems Vietnam, Amazon Web Services are the leading players operating in
Vietnam Software as a Service market. Service providers are increasingly
focusing on research and development process to fuel higher growth in the
market. To meet evolving customer demand with respect to better efficiency and
durability, several Software as a Service providers are coming up with their
technologically advanced offerings.
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“The
introduction of artificial intelligence and machine learning technology in the
Software as a Service and the high-end investments made by the enterprises to
advance the existing infrastructure is expected to drive the demand of the
market. The adoption of artificial intelligence in the Software as a Service to
upgrade themselves periodically and can create customized user interface
features. The high demand for automation technology to reduce the chances of
error and increase efficiency along with the creation of enhanced user
experience by using the advanced technologies is expected to propel the Vietnam
Software as Service market growth till 2026” said Mr. Karan Chechi, Research
Director with TechSci Research, a research-based global management consulting
firm.
“Vietnam Software as a
Service Market By Business Application (Marketing, Customer Relationship
Management, Business Operations, Finance, Database Management, Enterprise
Resource Planning, Others), By Offering (Horizontal SaaS, Vertical SaaS) , By
Organization Size (Large Enterprises, SMEs), By Deployment (Cloud,
On-Premises), By End User (Manufacturing, Healthcare, IT & Telecom, Retail,
Education, BFSI, Others), By Region, Competition Forecast & Opportunities,
2026” has evaluated the future growth potential of Vietnam Software
as a Service market and provided statistics & information on market size, shares,
structure and future market growth. The report intends to provide cutting-edge
market intelligence and help decision makers take sound investment decisions. Besides,
the report also identifies and analyzes the emerging trends along with
essential drivers, challenges, and opportunities in the of Vietnam Software as
a Service market.
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