The Vietnam Software as a Service Market was valued at USD 153.43 million in 2022
and is anticipated to project robust growth in the forecast period with a CAGR
of 25.48%. Software as a service (SaaS) is a
cloud-based model where the software provider assists in the creation and
upkeep of the cloud application software by offering automatic software updates
that make software accessible to its clients over the internet on a pay-as-you-go
basis. By more accurately forecasting the total cost of ownership, SaaS users
may cut expenses by adopting, growing, and updating business solutions faster
than with on-premises systems and software.
Increased Adoption of Subscription Based
Services
The convenience and cost-saving features
of digital subscription services have increased demand for a number of software
applications. Moreover, with a lack of IT personnel in major international
organizations, business apps are increasingly being used for branch offices and
other facilities. Large businesses who have the requisite technology or
resources and don't have any data security issues host subscription services
behind their firewalls. Since SaaS programmes are subscription-based, there is
no licence charge, which reduces the upfront investment. Additionally, because
the SaaS provider oversees the IT infrastructure, it has far cheaper expenses
for hardware, software, and resources. The Vietnam Software
as a Service Market is thus being driven by subscription services.
Increasing Demand for Data Backup and
Recovery
Software applications are hosted in the
cloud using the SaaS, doing away with the requirement for local storage. To
ensure that the service can continue if one data centre fails, data is kept in
numerous data centres. Furthermore, SaaS solutions guarantee the integrity of
corporate data by starting automated backups without user input, eliminating
the time-consuming procedure of doing frequent backups. As a consequence of the
model's simultaneous remote usage by several users, data backups
and recovery are now more dependable and safer, thereby driving the Vietnam
Software as a Service Market.
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Bypassing of Internal IT Departments
Software as a Service (SaaS) has
assisted in displacing an internal IT strategy whereby employees of a
corporation directly adjust the software architecture as necessary. Customers
have been able to free up their technical teams thanks to SaaS solutions so
they can concentrate on more important infrastructure expenditures.
The Emergence of Vertical SaaS
Customers of vertical SaaS are targeted inside certain supply
chains and sectors, and it is completely configurable. Examples include retail
analytics, healthcare analytics software, and contemporary logistics analytics.
By adjusting features in response to customer demand and industry standards,
vertical SaaS providers may successfully meet client demands within their
market niche. As a result, there is more flexibility, more room for upselling,
and fewer expenses associated with acquiring new customers. In order to gather
client-focused insights, it enables businesses to collect industry-specific
customer data and knowledge. Organizations may utilize the pre-configured
measurements, KPIs, and analytics that come with vertical SaaS to evaluate and
improve short- and long-term operations and performance. Companies looking to
profit from specialization are finding that Vertical SaaS is a practical, sector-specific
solution that enables them to precisely customize certain aspects.
Growing Usage of Mobile
Devices
SaaS formerly had a strong emphasis on a
computer-first strategy, which usually meant that mobile devices might be
neglected. However, companies from all sectors have started using tablets or
smartphones to operate essential aspects of their operations in recent years.
Because they can use dynamic mobile dashboards and other tools, more employees
feel empowered to perform better. To make sure that their inventions meet the
needs of a rising mobile market and also make their designs more accessible to
older populations, the intellectually challenged, or people with visual and
hearing problems, forward-thinking businesses have resorted to mobile optimization
reporting tools. To accommodate the rising demand for mobile SaaS, several SaaS
companies have embraced a mobile-first mindset and created innovative
solutions.
Market Segmentation
Vietnam Software as a Service Market is
divided into Business Application, Offering, Organization Size, Deployment, and
End User. Based on Business Application, the market is divided into Marketing,
Customer Relationship Management, Business Operations, Finance, Database
Management, Enterprise Resource Planning, and Others. Based on Offering, the market
is segmented into Horizontal SaaS, Vertical SaaS. Based on Organization Size,
the market is divided into Large
Enterprises, and SMEs. Based on End User, the market is segmented into Manufacturing,
Healthcare, IT & Telecom, Retail, Education, BFSI, and Others).
Market Players
Major
market players in the Vietnam
Software as a Service Market are IBM Vietnam Company Ltd, Oracle
Vietnam Pte Ltd, SAP Vietnam Co. Ltd, Cisco Systems Vietnam, Amazon Web
Services Vietnam, Microsoft Vietnam Company Limited, FPT Software, Adobe Inc, Salesforce
Inc and STS Software Technology JSC (Saigon Technology).
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Attribute
|
Details
|
|
Base Year
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2022
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|
Historic Data
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2018–
2022
|
|
Estimated Year
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2023
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Forecast Period
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2024
– 2028
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|
Quantitative Units
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Revenue in USD Million, and CAGR for 2018-2022 and 2024-2028
|
|
Report Coverage
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Revenue
forecast, company share, growth factors, and trends
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|
Segments Covered
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Business Application
Offering
Organization Size
Deployment
End User
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|
Country scope
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North
Vietnam, Central Vietnam, South Vietnam
|
|
Key companies profiled
|
IBM Vietnam Company Ltd, Oracle Vietnam Pte Ltd, SAP Vietnam
Co. Ltd, Cisco Systems Vietnam, Amazon Web Services Vietnam, Microsoft
Vietnam Company Limited, FPT Software, Adobe Inc, Salesforce Inc and STS
Software Technology JSC (Saigon Technology).
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|
Customization scope
|
10%
free report customization with purchase. Addition or alteration to country,
regional & segment scope.
|
|
Pricing and purchase options
|
Avail customized purchase options to meet your exact research
needs. Explore purchase options
|
|
Delivery Format
|
PDF and Excel
through Email (We can also provide the editable version of the report in
PPT/Word format on special request)
|
Report Scope:
In this report, the Vietnam Software as a Service Market has
been segmented into the following categories, in addition to the industry
trends which have also been detailed below:
·
Vietnam Software as a Service Market, By Business
Application:
o
Customer
Relationship Management
o
Enterprise Resource
Planning
o
Finance
o
Business Operations
o
Database Management
o
Sales &
Marketing
o
Others
·
Vietnam Software as a Service Market, By Offering:
o Horizontal SaaS
o Vertical SaaS
·
Vietnam Software as a Service Market, By Organization
Size:
o
SMEs
o
Large Enterprises
·
Vietnam Software as a Service Market, By Deployment:
o On-Premises
o Cloud
·
Vietnam Software as a Service Market, By End User:
o
IT
& Telecom
o
BFSI
o
Healthcare
o
E-Commerce
o
Manufacturing
o
Tourism
o
Others
·
Vietnam Software as a Service Market, By Region:
o North Vietnam
o Central Vietnam
o South Vietnam
Competitive Landscape
Company
Profiles: Detailed
analysis of the major companies present in the • Vietnam Software
as a Service Market.
Available Customizations:
the Vietnam Software as a Service market report with the given market data,
Tech Sci Research offers customizations according to a company's specific
needs. The following customization options are available for the report:
Company Information
- Detailed analysis and profiling of additional market players (up to
five).
Vietnam Software as a Service Market is an upcoming report to be released
soon. If you wish an early delivery of this report or want to confirm the date
of release, please contact us at [email protected]