The rise in the digital transformation initiatives and the growing e-commerce industry is expected to drive the demand for Vietnam data analytics market for the forecast period.
According to TechSci Research report, “Vietnam Data Analytics Market By Type (Predictive Analytics, Descriptive Analytics, Prescriptive Analytics, Diagnostic Analytics), By Solutions (Business Intelligence, Database Management, Data Mining, Fraud & Security Intelli-gence, Others), By Function (Marketing Analysis, Operational Analysis, Sales Analysis, Accounting and Finance Analysis, Others), By Deployment (Cloud, On-Premises), By End Use Industry (Government & Defence, BFSI, Retail & Ecommerce, Healthcare, Transport & Logistics, Others), By Region, Competition Forecast & Opportunities, 2026”, the Vietnam data analytics market is expected to witness a growth of steady CAGR for the forecast period, 2022-2026. The growing use of internet services and other technologies such as sensors is generating large volumes of unstructured data. Data analytics technology is generally used for trade promotion optimization, demand forecasting, and behavior analytics by organizations. The rise in data generation from various sources and the increase in the effort of the organizations to create more opportunities for profit generation is expected to drive the growth of the Vietnam data analytics market for the next five years. The high rate of adoption of the data analytics technology in the BFSI industry to improve cybersecurity services and can be used for risk management functions.
With the onset of the COVID-19 pandemic, organizations are providing appropriate measures and precautions to ensure the maximum safety of their employees. They provide the facility of work from home and bring your own device policy to the employees to follow social distancing. The rise in the focus of the organization for remote monitoring and providing the required support to its employees contribute to the market growth.
However, the data security and privacy concerns during the data extraction may hamper the Vietnam data analytics market growth in the forecast period.
Browse XX Figures spread through 70 Pages and an in-depth TOC on "Vietnam Data Analytics Market”.
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Vietnam data analytics market is segmented into type, solutions, function, deployment, end use industry, regional distribution, and company. Based on the end use industry, the market can be divided into government & defence, BFSI, retail & ecommerce, healthcare, transport & logistics, and others. The healthcare segment is expected to witness significant growth for the forecast period, 2022-2026. Presence of huge volume of structured and unstructured data which needs to be analysed in order to make smart decisions is driving the growth of the segment. Based on type, the market is divided into predictive analytics, descriptive analytics, prescriptive analytics, and diagnostic analytics. The predictive analytics segment is expected to dominate the market for the next five years. To predict the future trends and drivers of the market, industries are actively opting for the predictive analytics technology to maximise their profits in every situation. Based on function, the market is divided into marketing analysis, operational analysis, sales analysis, accounting and finance analysis, and others. The marketing analysis segment is expected to account for major market share for the predicted period. Companies are opting for marketing analysis to obtain information about the target consumers and create suitable business models for marketing and sales purposes.
SAP SE, IBM Corporation, Microsoft Corporation, Amazon Web Services, Inc., Tableu Software LLC, Oracle Corporation, Altyrex, Accenture Plc, NTT Data Corporation, Bac Ha Software, ITC Group, TMA Solutions, Kyanon Digital, KMS Technology Inc., Agile Tech Vietnam are the leading players operating in Vietnam data analytics 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 data analytics service providers are coming up with their technologically advanced offerings.
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“The growing demand for the adoption of advanced technologies such as the internet of things, artificial intelligence, machine learning, and others to boost the efficiency and output of the industries is creating lucrative opportunities for market growth. The expected roll-out of the 5G technology and the up-gradation of the IT infrastructure in the country is significantly contributing to the market growth. Additionally, the increasing focus of the organizations to provide enhanced consumer experience and satisfaction and create a personalized experience for the customers is expected to propel the Vietnam data analytics market growth till 2026” said Mr. Karan Chechi, Research Director with TechSci Research, a research-based global management consulting firm.
According to TechSci Research “Vietnam Data Analytics Market By Type (Predictive Analytics, Descriptive Analytics, Prescriptive Analytics, Diagnostic Analytics), By Solutions (Business Intelligence, Database Management, Data Mining, Fraud & Security Intelli-gence, Others), By Function (Marketing Analysis, Operational Analysis, Sales Analysis, Accounting and Finance Analysis, Others), By Deployment (Cloud, On-Premises), By End Use Industry (Government & Defence, BFSI, Retail & Ecommerce, Healthcare, Transport & Logistics, Others), By Region, Competition Forecast & Opportunities, 2026” has evaluated the future growth potential of Vietnam data analytics 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 data analytics market.
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