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Vietnamese tech firms have room to grow

Vietnamese tech firms have room to grow - Created date25/11/2022

Vietnamese tech firms are expected to grow rapidly in both the mid and long-term thanks to rising IT demand around the world and rapid digital transformation at home. Statista, a German company specialising in market and consumer data, said IT services spending is expected to amount to 1.28 trillion USD and 1.39 trillion VND in 2022 and 2023, up 7.9% and 8.8%, respectively.

The Vietnamese Ministry of Information and Communications targeted 100,000 digital firms in Vietnam by 2025, a rise of 56.25% from 2021. The telecom segment is expected to grow stably thanks to a rise in the number of broadband subscribers (8-10%), and a boom of 4G and 5G services. Notably, Vietnam has advantages in its IT workforce market.

Read more: Vietnam Software Outsourcing in 2023

According to HSBC, 51 percent of programmers in Vietnam are 29-30 years old. The hourly wage for. IT outsourcing software development in Vietnam is about 18 USD, equivalent to 64% in other Asian nations and 10% in the US. Therefore, customers from big markets like the US, Japan, the EU and Asia-Pacific have selected Vietnam as an ideal destination for cooperation in IT development.

About TMA

TMA Solutions was established in 1997 to provide quality software outsourcing services to leading companies worldwide. As an offshore software development center, we are one of the largest software outsourcing companies in Vietnam, we provide high-quality IT outsourcing and innovative software solutions with the software development life cycle (SDLC) process and agile approach. We can guarantee exceptional solutions, and craft tailored solutions for your needs. Our engineering team was selected from a large pool of Vietnam IT resources; they are well-trained and have successfully completed many large and complex projects.

Source: vietnamplus