Besides outsourcing, what is the IT industry in Vietnam doing?

According to a report published by an IT recruitment platform in Vietnam showed that the IT industry in Vietnam has flourished with 7 new directions.

Financial Technology ( Fintech)

Experts of an Asia-focused corporate strategy consulting firm predict that, by 2020, Vietnam's Fintech market will reach 7.8 billion USD. Since 2015, Fintech startups thrive in Hanoi and Ho Chi Minh City. Fintech has been on the world map in the Global Top 100 Fintech.

However, compared to other countries in the region, the amount of Fintech companies in Vietnam is still modest. According to incomplete statistics, between 2017 and 2018, Singapore had more than 490 Fintech companies, Malaysia had 196 companies, and Indonesia had 262 companies.

Blockchain

This is a 'solution' to transparency, something difficult to achieve in the old Internet world, where data and authority are concentrated in some organizations. "With a strong force of engineers, hard to learn and ready to take new opportunities, Vietnam is considered one of the emerging Blockchain Hubs in the region," commented by a delegate of the platform. The majority of Vietnamese Blockchain products are aimed at the global market.

AI

With the development of platforms like OpenAI, OpenCV, TensorFlow, Caffe ... the problem of algorithms is not too difficult. The rest is whether the data is large enough and high enough for AI to work.

The IT recruitment platform showed that more than 73% of technology companies are intending to apply AI to their products. This also makes the demand for AI engineers at an alarming rate.

Software as a Service (SaaS)

SaaS (Software as a Service) is predicted by many experts to create a new trend in businesses in Vietnam. According to a survey of an independent software vendor based in New York, by 2020, there will be about 73% of businesses turn to SaaS full time. SaaS is leading the B2B Tech field in many countries.

E-Commerce

According to the latest figures from the Department of E-commerce and Digital Economy released at the end of September 2018, Vietnam's e-commerce revenue in 2017 reached the US $ 6.2 billion, up 24% compared to the previous year. Therefore, Vietnam e-commerce is considered by many experts to be attractive with the expected scale of reaching USD 10 billion by 2020.

Marketplace Platform

The platform can be roughly divided into two branches, the transaction platform used to optimize transactions between users and service providers and the innovation platform is a development foundation, supporting business models, creating an ecosystem. In Vietnam, commercial platforms are thriving. Fierce competition is the foundation of e-logistics.

EdTech

Today, the EdTech market in Vietnam has received approximately 55 million USD of investment. Currently, there are about 50 prominent EdTech companies. With just under 5% of the working population using one of the online education services, Edtech shows that there is still a large market waiting to be explored.

Source: https://vnexpress.net/kinh-doanh/ngoai-gia-cong-nganh-it-o-viet-nam-dang-lam-nhung-gi-3911262.html

About us: TMA Solutions was established in 1997 to provide quality software outsourcing services to leading companies worldwide. We are one of the largest software outsourcing companies in Vietnam with 2,400 engineers. 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.

Visit us at: https://www.tmasolutions.com/