Press Release

Vietnam Software as a Service Market Expected to Grow at 25.48% CAGR through 2028

Bypassing of Internal IT Departments and Increasing Usage of Artificial Intelligence and Machine Learning is driving the Vietnam Software as a Service Market.

According to TechSci Research report, “Vietnam Software as a Service Market - By Region, Competition, Forecast & Opportunities, 2028. The market value of Vietnam Software as a Service market is likely to continue to grow at a 25.48% CAGR in the upcoming years with the main supporting factors, for instance, the Adoption of Subscription-Based Services, Data Backup and Recovery among others. The market is robust, and as analyzed by trends, it may become necessary for the corporate industry in the coming days. South Vietnam region amongst the regions and IT & Telecom out of end users are expected to show the highest growth through 2028.

In recent years, several industries have implemented artificial intelligence (AI) and machine learning to an increasing extent. SaaS has embraced AI and machine learning, using them in a variety of applications and development techniques. The SaaS industry is about to undergo a significant change as a result of artificial intelligence, which will also enhance many of the fundamental aspects of the SaaS model. Organizations may be able to make better use of their data, automate and tailor services, boost security, and expand human capacity when SaaS and AI capabilities are integrated. SaaS powered by artificial intelligence quickens internal operations and procedures, enabling firms to answer inquiries quickly, predict with precision, and become more responsive overall. AI's machine learning (ML) branch, which automates response in client service reports and apps like AI-powered chat operational procedures with live chatbots, is employed in SaaS. Additionally, the SaaS onboarding procedure is automated. Innovations will enable businesses to automate substantial chunks of internal processes other than customer service or experience alone because ML is built on an autonomous operating paradigm. The rapid detection and mitigation of possible risks with integrated self-recovery that automation offered by artificial intelligence and machine learning enables upgrades SaaS security.

Based on Application types, there are various sub-segments for instance, Marketing, Customer Relationship Management, Business Operations, Finance, Database Management, Enterprise Resource Planning, and Others. The Customer Relationship Management application type is dominating in 2022 with a 33.07% share of the SaaS market of Vietnam and is expected to grow at a CAGR of 25.07% in the upcoming years. Companies must embrace digital transformation, and timely adoption of technologies like SaaS, Cloud Computing, Artificial Intelligence (AI), Internet of Things (IoT), etc., is predicted to have a positive impact on both corporations and countries.

Following Covid-19, foreign investors and enterprises are shifting their focus toward cloud services and innovative technologies, and it is anticipated that they will grow increasingly dependent on technology in the upcoming years. These resources and the SaaS market in Vietnam are expected to grow and expand in the near future. Customer relationship management software improves supply chain and front-office integration. The company's relationships with its clients, prospects, workers, and suppliers are managed through CRM software.

Based on Deployment types, there are a total of two sub-segments for instance, Cloud, and On-Premises. Cloud deployment is dominating in 2022 with a 27.16% share of and is expected to grow at a CAGR of 27.16% in the upcoming years. Most corporate/private firms supported work from home during COVID-19 to maintain job continuity, which led to a surge in cloud-based deployment. In Vietnam, remote working is predicted to become more popular in the future, which is anticipated to fuel market growth for the duration of the projection period.

In addition, Ho Chi Minh City is on track to become the first smart city in Vietnam by concentrating on cloud computing infrastructure, big data, and cloud services, as well as by creating an open data ecosystem and SaaS deployment in the cloud. Many sectors that formerly used on-premises setups are now switching to hybrid IT infrastructure, which has become a major contributor to the skyrocketing demand for cloud and IT services in Vietnam. Additionally, the cloud aids IT in addressing new business demands and bringing flexibility and scalability to its infrastructure. Additionally, the cloud may be made accessible quickly to clients in order to satisfy their business needs.

Browse over 33 market data Figures spread through 95 Pages and an in-depth TOC on the " Vietnam Software as a Service Market".

Key market players in the Vietnam Software as a Service Market include:

  • IBM Vietnam Company Ltd
  • Oracle Vietnam Pte Ltd
  • SAP Vietnam Co. Ltd
  • Cisco Systems Vietnam
  • Amazon Web Services Vietnam
  • Microsoft Vietnam Company Limited
  • FPT Software
  • Adobe Inc
  • Salesforce Inc
  • STS Software Technology JSC (Saigon Technology)

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“The convenience and cost-saving advantages that this software service offers to a variety of applications, from financials, human resources, procurement, and supply-chain processes to commerce, marketing, sales, and service solutions, are driving a rapid increase in demand for software as a service in Vietnam. With no worries about data security and the need for new technology, these services are housed within the firewall capabilities of major businesses. Because SaaS systems are subscription-based, there is no licence fee, which results in lower up-front costs, which is driving the Vietnam SaaS industry.” Therefore, these factors are fuelling the market growth of the “Vietnam Software as a Service market in the upcoming years 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, 2028, has evaluated the future growth potential of Vietnam Software as a Service Market and provides statistics and information on market structure, size, share, and future growth. The report is intended 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 present in the Vietnam Software as a Service Market.


Mr. Ken Mathews

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