New Computer Technology market report from Business Monitor International: "Vietnam Information Technology Report Q4 2012"
Boston, MA -- (SBWIRE) -- 02/12/2013 -- Vietnamese IT spending is expected to reach US$2.53bn in 2012, up 15%, with BMI upwardly revising its forecast due to macroeconomic factors. The PC market slowed in Q112, but drivers including rising PC penetration, economic growth, a range of government ICT initiatives and a campaign to develop Vietnam's domestic IT industry will help to sustain continued expansion going forward. Vietnam's improving ICT infrastructure will also drive the development of the nation's IT market in a country with below 20% PC penetration. Meanwhile, there is strong demand for ERP solutions in 2012 and cloud computing revenues are expected to report at least 300% growth over the five-year forecast period to 2016.
Headline Expenditure Projections
Computer Hardware Sales: US$1.6bn in 2011 to US$1.8bn in 2012, +13% in US dollar terms. Forecast in US dollar terms unchanged; however, tablets are expected to provide a strong growth area in 2012 due to lower prices.
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Software Sales: US$187mn in 2011 to US$222mn in 2012, +22% in US dollar terms. Forecast in US dollar terms upwardly revised due to analyst modification, but will depend on the success in bringing down illegal software use.
IT Services Sales: US$395mn in 2011 to US$474mn in 2012, +20% in US dollar terms. Forecast in US dollar terms upwardly revised due to analyst modification with growing demand for digital infrastructure projects in various sectors, such as banking, telecoms, energy and government.
Risk/Reward Ratings: Vietnam scores 33.2 out of 100 in our Asia risk/reward ratings table. This places the country 11th, ahead of Sri Lanka. The country ranks only ninth for its IT market score, with 36.9.
Key Trends & Developments.
- In H112, vendors reported continued robust sales of ERP solutions, despite the uncertain economic situation. There is still a lot of potential for Vietnamese enterprises to increase spending on basic solutions. A number of Vietnamese companies embarked on large-scale ERP implementations, including Hoang Anh Gia Lai Group (HAGL), which launched a VND100bn ERP system. However, while the ERP market is strong, it is estimated that only about 10% of Vietnamese businesses have used CRM.
- In 2011, a number of government ministries and organisations, including the Ministry of Education and Training, started to promote the roll out of cloud services. Plans to modernise IT in government agencies and the customs department, as well as the Tax Administration Modernization Plan for 2008-2013 represent opportunities for vendors of IT products and services.
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