2012-08-31 03:54:22 - Recently published research from Business Monitor International, "Vietnam Information Technology Report Q3 2012", is now available at Fast Market Research
BMI View: Vietnamese IT spending is expected to reach US$2.6bn in 2012, up 14%, with BMI upwardly revising its forecast due to macroeconomic factors. Drivers such as 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, cloud computing revenues are expected to report at least 300% growth over the forecast period.
Headline Expenditure Projections
Computer hardware sales: US$1.60bn in 2011 to US$1.85bn in 2012, +12% in US dollar terms. Forecast in US dollar terms unchanged, but due to lower prices
tablets are expected to provide a strong growth area in 2012.
Full Report Details at
- www.fastmr.com/prod/451419_vietnam_information_technology_report ..
Software sales: US$191mn in 2011 to US$224mn in 2012, +17% 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$402mn in 2011 to US$478mn in 2012, +19% 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's score was 33.2 out of 100.0. Vietnam ranks 11th in our latest Asia RRR table, ahead of Sri Lanka. The country ranked only ninth for its IT market score of 36.
Key Trends & Developments.
* The Vietnam IT market is expected to grow around 14% in 2012. Government and business IT spending remain subject to fiscal restraints and external economic headwinds, and the devaluation of the dong will also inhibit demand. However, the Vietnamese economy is expected to remain generally strong and drive growth in IT investments.
* 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.
* An ambitious government IT plan for 2010-2020 should shape many segments of the Vietnamese IT market, with the government pledging to invest VND2.4tn (US4,115mn) from the State Budget in the ICT sector over the next decade. The government's increasing focus on encouraging ICT development and foreign investment in the tech sector will also create opportunities. Many of the government's ICT development plans and programmes are still in a nascent stage and their ultimate effectiveness is yet to be determined.
Report Table of Contents:
- Vietnam IT Sector SWOT
- Vietnam Telecom SWOT
- Vietnam Political SWOT
- Vietnam Economic SWOT
- Vietnam Business Environment SWOT
Asia Pacific IT Risk/Reward Ratings
- Table: Asiapacific It Risk/Reward Ratings
IT Markets Overview
- Government Authority
- Industry Developments
- Table: Vietnam IT Industry - Historical Data And Forecasts (US$mn unless otherwise stated), 2008-2016
Industry Forecast Internet
- Table: Telecoms Sector - Internet - Historical Data And Forecasts, 2009-2016
- Operating Systems
- IT Services
- Table: Vietnam - Economic Activity, 2011-2016
- FPT Software
- Table: Vietnam's Population By Age Group, 1990-2020 ('000)
- Table: Vietnam's Population By Age Group, 1990-2020 (% of total)
- Table: Vietnam's Key Population Ratios, 1990-2020
- Table: Vietnam's Rural And Urban Population, 1990-2020
- How We Generate Our Industry Forecasts
- Transport Industry
About Business Monitor International
Business Monitor International (BMI) offers a comprehensive range of products and services designed to help senior executives, analysts and researchers assess and better manage operating risks, and exploit business opportunities, across 175 markets. BMI offers three main areas of expertise: Country Risk BMI's country risk and macroeconomic forecast portfolio includes weekly financial market reports, monthly regional Monitors, and in-depth quarterly Business Forecast Reports. Industry Analysis BMI covers a total of 17 industry verticals through a portfolio of services, including in-depth quarterly Country Forecast Reports. View more research from Business Monitor International at www.fastmr.com/catalog/publishers.aspx?pubid=1010
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