VietNamNet Bridge – A survey of the Ministry of Information and Communication (MIC) has found out that the world information technology (IT) service market is a real potential for Vietnamese firms to exploit. Meanwhile, the domestic IT service market is worth billions of dollars.

Vietnamese firms urged to focus on data services

According to MIC, big changes have been made in the world market in recent years. While the outsourcing, maintenance, consultancy and programming services tend to be narrowed, the integration and system development services, especially data services, have been prospering.

The increasingly high demand for information on the internet makes the data volume double every year, thus creating a gigantic data volume which goes beyond the control capacity of the enterprises and organizations that create the data.

This has led to the strong rise of the demand for data management and exploitation services, from simple ones such as migration service (transferring data from old to new systems), to more complicated ones such as business intelligence.

The tendency is believed to continue growing for a long more time, while the services have generated a market worth hundreds of billions of dollars a year.

MIC, when emphasizing that data services have become the most urgent demand of all the enterprises and organizations worldwide. Therefore, it believes that this is the market segment Vietnamese firms should aim for. The firms have been urged to take quick actions to conquer the market while the market is still large enough with not too many service providers.

The Philippines, Thailand, Indonesia and Sri Lanka all have realized about the rise of the market segment and they have been making intensive preparations to earn money from the market.

The Philippines now has 350,000 workers in the IT services, while India has 300,000 software workers.

Domestic market vast enough for all

The IT services such as ITO (information technology outsourcing) and BPO (business processing outsourcing), cloud computing, mobile applications, e-banking, e-commerce have been developing rapidly in the domestic market.

Especially, the IT solution consultancy and system integration services have grown strongly over the last five years with the annual turnover growth rate of 35 percent.

The demanded IT services in the domestic market are diversified at different levels. The new technology achievements, such as cloud computing, have prompted users to use the services from professional institutions instead of owning and exploiting instruments themselves. They would rather order wanted services instead of doing everything themselves.

As such, the existing 400,000 businesses alone would create a market large enough to bring the turnover of billions of dollars. Infrastructure leasing, information providing, training, consultancy, website development, e-commerce, app solution providing, data services would be the most wanted services in the time to come.

The statistics about the turnover from IT services being provided in the market showed that the consultancy, training, security solution, content service on telecom networks would make a breakthrough in some more time.

As the national economy has been growing well, the service quality would be more demanding. Big enterprises have been focusing on training their workforce, striving to obtain international certificates on services providing.

While affirming the great potentials of the service industry, MIC believes that the State needs to support enterprises by laying down a reasonable legal framework to pave the way for them to develop and compete with foreign rivals.

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