Vietnam information technology market: Hardware sales forecast to hit VND68,935bn in 2017
Vietnam Information Technology Report Q3 2013 - a new market research report on companiesandmarkets.com
PR-Inside.com: 2014-04-24 11:06:01
We forecast IT spending will increase by 17.6% in 2013 to reach a total value of VND62,082bn (US$2.97bn). This is a slight downgrade from the Q213 update on the basis of a slightly weaker economic environment, however, the macroeconomic environment remains supportive of fast IT market growth over the medium term. Household PC penetration remains low, meaning an opportunity for vendors to record sales growth over the medium term as incomes rise.
Meanwhile, a range of government ICT initiatives and a campaign to develop Vietnam´s domestic IT industry will also boost growth. In the enterprise market there is strong demand for ERP and security solutions, as well as medium-term opportunities in cloud computing services as telecoms infrastructure improves. Finally, the outsourcing market is also expected to expand rapidly over the medium term as enterprises, particularly in Japan, switch business away from China in search of cost savings.
Headline Expenditure Projections: Computer Hardware Sales: VND44,389bn in 2013 to VND68,935bn in 2017, CAGR of +12.5% in local currency terms. Low PC penetration provides opportunities for sales to first time buyers while the influx of cheap tablets from Android and Windows 8 vendors and notebooks are expected to provide a growth avenue over the medium term.
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