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Follow on Google News | Recently released market study: Vietnam Information Technology Report Q2 2011New Computer Technology research report from Business Monitor International is now available from Fast Market Research
The Vietnamese IT market is estimated to grow at a CAGR of 16% over the 2011-2015 forecast period. IT spending bounced back in 2010, following a sluggish start to the year. Factors such as growing PC penetration, economic growth, a range of government ICT initiatives and a drive to develop Vietnam's IT industry will help to underpin one of the fastest IT market growth rates in the region. An ambitious government IT plan for 2010-2020 should shape many segments of the Vietnamese IT market, while Vietnam's improving information and communication technology (ICT) infrastructure will also drive growth. Vietnam's gradual integration into global trade networks such as the Association of Southeast Asian Nations (ASEAN) and the WTO has helped to bring down prices and increase opportunities for importers. The Vietnamese IT market is estimated to grow at a CAGR of 16% over the 2011-2015 period. The addressable domestic market for IT products and services is projected by BMI to reach US$4.1bn by 2015. An increasing number of Vietnamese companies have shown an interest in cloud services. Industry Developments In November 2010, the government pledged to invest US$8.5bn in the ICT sector over the next ten years. Meanwhile, the government's campaign to attract more foreign IT companies to invest in Vietnam received a boost with the announcement that Hewlett-Packard (HP) would set up a wholly-owned firm in Vietnam in early 2011. The government hopes to attract US$5bn of foreign investment into the IT industry by 2015. The Vietnamese government has unveiled ambitious plans for developing the country's IT industry. The plans, which state a revenues target for the sector of between US$17bn and US$19bn in the next five years, include major investments to develop production centres in software, services, hardware and electronics. Revenues are projected at US$2bn from software sales, US$12.5bn from hardware, US$2bn from digital content, and US$1.5bn from IT services. In 2010 the Ministry of Education and Training continued to implement a national programme to supply 1mn affordable computers to Vietnamese schools by 2011. In January 2010, the Vietnam Post and Telecoms Group (VNPT) in Ho Chi Minh City launched a local version of the Computers for Education programme, which will provide teachers and students in the city with low-priced laptops and DSL broadband connections. Competitive Landscape In 2010, several Vietnamese enterprises announced plans to produce tablet PCs, and the first local product, from Hanel, was launched in Vietnam in October 2010. However, local manufacturers are likely to find it hard to compete with the iPad and rival products from other vendors, such as Samsung with its Galaxy Tab. Vietnam has around 10,000 firms currently licensed to provide IT services, but only one-third are actually operating. The MOCI is currently developing a draft decree to map out policies to help the IT industry grow. The decree will stipulate procedures and operational requirements for firms providing IT services. In 2010, the Vietnamese FPT (Corporation of Financing and Promoting Technologies) Computer Sales BMI projects that sales in Vietnam's computer hardware market will be worth around US$1.7bn in 2011, up from an estimated US$1.5bn in 2010. BMI projects growth of around 13% in the Vietnam PC market in 2011, after the market showed signs of a rebound in 2010. PC penetration in Vietnam was estimated by BMI at around 15% in 2010. Notebooks are owned by an estimated 7% of the Vietnamese population. This points to significant growth potential for the local PC market, with the most potential being in rural areas. Currently Hanoi and Ho Chi Minh City are thought to account for in the region of 85% of notebook sales. Software In 2011, Vietnam software sales are projected by BMI to grow to US$192mn, and software CAGR for 2011-2015 should be in the region of 15%. Software spending comprises around 10% of total Vietnamese IT spending. The market is expected to reach a value of around US$391mn by 2015, with steady growth in demand for licensed software from government, enterprise and household segments. Vietnam's software market is developing, despite the problem of software piracy, which still accounts for around 85% of software, compared with 76% in neighbour Thailand. Services Vietnamese IT services spending is forecast to reach around US$406mn in 2011, up from US$351mn in 2010. Sectoral CAGR is projected at 12% over the forecast period, as the market approaches US$752mn by 2015. IT services now accounts for around 18% of total Vietnam IT spending. Over the past few years, the size of IT services deals has increased in key IT spending verticals. Growing demand for digital infrastructure projects in segments such as banking, telecoms, energy and government has attracted global IT services providers to invest more in Vietnam. E-Readiness For more information or to purchase this report, go to: - http://www.fastmr.com/ 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 http://www.fastmr.com/ About Fast Market Research Fast Market Research is an online aggregator and distributor of market research and business information. We represent the world's top research publishers and analysts and provide quick and easy access to the best competitive intelligence available. For more information about these or related research reports, please visit our website at http://www.fastmr.com or call us at 1.800.844.8156. # # # Fast Market Research is an online aggregator and distributor of market research and business information. We represent the world's top research publishers and analysts and provide quick and easy access to the best competitive intelligence available. End
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