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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