2014-02-07 21:19:02 - Vietnam Information Technology Report Q1 2014 - a new market research report on companiesandmarkets.com
Vietnam´s IT market is a regional outperformer and we expect strong growth to continue over the medium term. We forecast IT spending will grow at a compound annual growth rate (CAGR) of 14.1% to 2017, driven by rising incomes, enterprise modernisation and the policy environment put in place by the government. Significant opportunities remain in the retail market due to relatively low penetration of devices and services, which vendors will be able to tap as incomes rise. The government is also a significant factor underpinning our bright outlook as it pursues a range of ICT initiatives and allocates funding to develop Vietnam´s domestic IT industry. These policies include the promotion of Vietnam as an outsourcing destination, with the services segment
expected to expand rapidly. There is also increasing momentum towards Vietnam becoming a global centre for electronics production as wages rise in China and manufacturers look to protect margins by moving to Vietnam, where wages are as little as a third of those in China.
Headline Expenditure Projections:
- Computer Hardware Sales: VND44,389bn in 2013 to VND68,935bn in 2017, CAGR of +12.5% in local currency terms. Low penetration of devices and rising incomes will support strong sales growth, although access to credit continues to be a bottleneck despite partnerships between some retailers and banks.
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