Vietnam Software as a Service Market Research Report: Forecast (2026-2032)

Vietnam Software as a Service Market Report Key Takeaways:

• The Vietnam Software as a Service Market size is valued at around USD 214 million in 2025 and is projected to reach USD 502 million by 2032. The estimated CAGR from 2026 to 2032 is around 12.95%, indicating strong growth.
• By deployment, the public cloud segment holds the largest market share, around 47% in 2025, and the private cloud segment is expected to grow at a CAGR of around 16% during 2026-32.
• By end user, the BFSI segment holds the largest market share, around 26% in 2025.
• By organization size, Large Enterprises lead the market with a significant market share of more than 70% in 2025.
• By Business Application, the Enterprise Resource Planning segment captured the largest market share of around 26%. While the BI & Analytics segment is expected to witness a steady CAGR of around 22% during 2026-32.
• The leading Software as a Service companies in Vietnam are Base.vn, Misa JSC, FPT Software, TMA Solutions, Microsoft, Oracle, SAP, NetSuite, Zoho, Odoo, Sapo, CMC Corporation, VNG Cloud, and others are the key players of the Vietnam Software as a Service Market.

Vietnam Software as a Service Market Size: Forecast (2026- 2032)

The Vietnam Software as a Service Market size is valued at around USD 214 million in 2025 and is projected to reach USD 502 million by 2032. Along with this, the market is estimated to grow at a CAGR of around 12.95% during the forecast period, i.e., 2026-32.

The Vietnam Software as a Service Market is entering a high-growth phase, supported by rapid enterprise digitalisation, upgraded national digital infrastructure, and the growing adoption of vertical SaaS across major industries.

For instance, by mid-2024, 81% of administrative procedures were offered as online public services, with 48% fully processed online, reflecting deep integration of digital workflows across government. This momentum is reinforced by the 1.031 billion transactions processed through the National Data Integration and Sharing Platform (NDXP) in 2024, a 56% year-on-year increase, signalling broad-based utilisation of shared digital platforms by both public agencies and enterprises.

The Digital Transformation Index (DTI) reached 0.7326 in 2023, rising roughly 50.8% over three years, and early 2024 assessments indicate continued improvement under the updated national evaluation framework. These advances are enabled by extensive infrastructure upgrades, including the nationwide shutdown of 2G, accelerated 5G rollout, and expansion of fibre-optic and high-capacity submarine cable systems, all of which enhance nationwide internet stability and readiness for cloud adoption.

As government services, healthcare, education, social security, and regulatory processes move online, businesses, particularly SMEs, are increasingly dependent on scalable SaaS platforms such as cloud-native ERP, HRM, CRM, e-invoicing, analytics, and industry-specific applications for logistics, fintech, and health-tech. The digital economy, growing at approximately 20% annually, is further boosting demand for SaaS to support fast-scaling business models.

Aligned with the National Digital Transformation Program 2021–2025 (vision 2030), ongoing initiatives in digital identity, data-sharing, cloud infrastructure, and inter-agency digital workflows are creating a sustained, high-growth trajectory for SaaS adoption across Vietnam.

Segmentation analysis of the market is showing bright prospects for the market players because, based on the organization size, the large enterprises are driving the overall growth of the market with a significant market share of more than 70% in 2025. On similar lines, based on business application, the enterprise resource planning segment holds the largest market share of around 26% and the BI & Analytics segment is projected to accelerate at a CAGR of around 22% during 2026-32.

Overall, Vietnam’s accelerating digitalisation, strengthened infrastructure, and sector-specific SaaS adoption collectively position the country for sustained market expansion, ensuring that SaaS becomes a foundational driver of enterprise efficiency, regulatory compliance, and long-term digital-economy growth.

Vietnam Software as a Service Market Recent Developments:

• July 2025: 1Office has officially repositioned itself from a traditional SaaS provider to an AI-as-a-Service (AIaaS) company with the launch of its new platform 1Office Next, introduced at events in Ho Chi Minh City and Hà Nội. The shift was underpinned by a fresh USD 3 million funding round led by Redbadge Pacific, enabling 1Office to embed low-code, AI agents, and automation deeply into its enterprise-management offering.
• August 2025: SAP announced the launch of SAP Labs Vietnam, backed by an investment of about USD 175 million. The new R&D hub will accelerate development of enterprise and SaaS solutions tailored for Southeast Asia, strengthen AI-driven innovation, and expand Vietnam’s role in global software product engineering.

Vietnam Software as a Service Market Scope:

Vietnam Software as a Service Market Drivers:

Rapid Enterprise Digital Transformation

Vietnam’s rapid enterprise digital transformation is emerging as a core driver for accelerating SaaS adoption, driven by decisive national policy, expanding public-sector digitalisation, and rising technology investments.

The Government’s National Digital Transformation Program (Decision No. 749), with a 2030 orientation, mandates comprehensive digitalisation across administrative, industrial, and commercial domains, compelling enterprises to transition from legacy infrastructure to cloud-based, scalable SaaS environments.

Public-sector progress has been substantial, as by August 2024, Vietnam recorded a 55.5% fully online public-service provision rate, significantly reducing administrative friction and requiring businesses to integrate seamlessly with state-run digital platforms for regulatory filings, authentication, and transactional procedures.

The momentum is reinforced by the rapid expansion of Vietnam’s digital economy, which accounted for 12% of GDP in 2023 and is projected to reach USD 45 billion by 2025. This growth signals substantial increases in enterprise IT modernisation budgets, accelerating the adoption of SaaS solutions across functions such as enterprise planning, workforce management, customer operations, analytics, and cybersecurity.

Government targets for 2025, including achieving 80% fully online public services and 40% adult adoption of digital public platforms, further intensify the need for interoperable, secure, and cloud-native enterprise software.

As national mandates and digital-economy expansion reshape operational frameworks, enterprises will increasingly rely on SaaS to ensure regulatory conformity, operational efficiency, and seamless integration, solidifying this driver as a key accelerator of Vietnam’s SaaS market growth.

Vietnam Software as a Service Market Trends:

Rise of Vertical SaaS Changing Market Dynamics

Vietnam is experiencing a pronounced acceleration in vertical SaaS adoption, driven by rapid sector-specific digitization, a dominant SME economy, and strong momentum in e-commerce and health-tech.

The domestic e-commerce ecosystem continues to expand, with leading platforms pushing online retail GMV to approximately USD 25 billion in 2024, while e-commerce GMV alone reached about USD 12.6 billion. This scale of digital commerce is fuelling demand for tailored SaaS solutions in inventory automation, digital payments, and last-mile logistics management.

The country’s enterprise landscape, comprising around 97% SMEs, supports the shift toward cost-efficient SaaS designed for specific vertical workflows such as retail, F&B, logistics, and manufacturing.

Sectoral policy initiatives further reinforce adoption. For instance, in healthcare, provincial EHR deployment and national digital-health directives have strengthened the uptake of cloud-based LEMR, e-prescription, and telehealth workflow SaaS aligned with Ministry of Health standards.

Meanwhile, Financial institutions increasingly rely on specialized SaaS for digital lending, e-KYC, fraud analytics, and AML compliance in accordance with the State Bank of Vietnam regulations. Further, Education providers, following MOET’s digital-learning roadmap, are adopting LMS platforms, remote assessment tools, and accreditation-tracking SaaS.

Together, these sector-specific advancements underscore the strategic shift toward specialized cloud solutions, positioning vertical SaaS as a core enabler of Vietnam’s digital economy and a key catalyst for sustained market expansion in the years ahead.

Vietnam Software as a Service Market Challenges:

Data Security & Compliance Barriers

Data security and compliance pressures increasingly pose a serious challenge to the SaaS ecosystem in Vietnam. In 2024, the National Cybersecurity Association recorded 659,000 cyberattacks, with 46.15% of organizations reporting incidents, including 14.59% affected by ransomware and 26.14% targeted by APT attacks.

Regulatory pressure is also rising. The new Personal Data Protection Law (PDPL), effective January 2026, introduces stringent obligations, including fines of up to 5% of prior-year revenue for unlawful cross-border data transfers and penalties up to 10 times illicit gains for illegal data trading.

Simultaneously, Vietnam faces a cybersecurity workforce shortfall of 700,000 professionals by 2025, with more than half of enterprises lacking adequate security resources. These gaps elevate compliance costs, extend vendor-assessment cycles, and make firms, particularly SMEs, hesitant to shift sensitive workloads to SaaS platforms.

These intensifying security threats and tightening compliance requirements collectively slow SaaS adoption, increase operational risk for enterprises, and may constrain the overall growth trajectory of Vietnam’s SaaS market unless vendors strengthen security and regulatory readiness.

Vietnam Software as a Service Market (2026-32) Segmentation Analysis:

The Vietnam Software as a Service Market Report and Forecast 2026-2032 offers a detailed analysis of the market based on the following segments:

Based on Deployment

• Public Cloud
• Private Cloud
• Hybrid Cloud

The public cloud segment holds the largest share in the Vietnam Software as a Service Market, around 47% and the private cloud segment is expected to grow at a CAGR of around 16% during the forecast period. The market dominance is supported by strong economic, regulatory, and technological fundamentals. Its dominance is primarily attributed to high scalability, minimal upfront investment, and strong compatibility with Vietnam’s digital-transformation agenda.

As enterprises, particularly SMEs, increasingly shift from capital expenditure to operating-expense models, public cloud becomes the preferred choice for deploying SaaS without large hardware or maintenance costs.

Government cloud-first policies, nationwide 5G expansion, and the 2G shutdown have strengthened cloud readiness, enabling public cloud platforms to efficiently support mandated digital services such as e-invoicing, e-KYC, ERP, HRM, and national data-exchange systems across sectors.

A major turning point came in June 2025, when the government approved Decision 1121/QĐ-TTg, a national action plan to advance cloud-computing adoption from 2025–2030. The policy targets cloud migration across all government agencies and state-owned enterprises, along with 70% of private businesses, firmly positioning public cloud as the central pillar of national digital infrastructure.

Overall, the convergence of cost efficiency, regulatory alignment, rapid deployment capabilities, and robust infrastructure upgrades cements the public cloud as the dominant deployment model shaping Vietnam’s SaaS market trajectory.

Based on End Users

• BFSI
• Healthcare
• Information & Communication Technology (ICT)
• Government Agencies
• Manufacturing
• Others (Educational Institute, Transportation & Logistics, etc.)

Based on end-users, the BFSI sector holds the largest market share, around 26%. This sector is the primary end-user of the Vietnam Software as a Service (SaaS) Market due to its rapid digital transformation, strict regulatory environment, and growing emphasis on secure, scalable, and cost-efficient IT infrastructure. Vietnam’s banking and financial institutions are aggressively modernizing core operations—such as digital payments, customer onboarding, lending, fraud detection, and risk management—to keep pace with rising digital finance adoption. As of 2024, over 75% of banking transactions in Vietnam occur via digital channels, pushing banks to rely heavily on cloud-based SaaS platforms for improved performance and faster service delivery.

Additionally, BFSI organizations require high-availability systems with robust disaster recovery, real-time analytics, and advanced cybersecurity capabilities. SaaS platforms offer these benefits without the need for maintaining expensive on-premise infrastructure, making them ideal for banks and insurance firms operating under growing data volumes and transaction loads. The rising use of e-KYC, mobile banking, embedded finance, and fintech integrations further accelerates SaaS adoption.

Vietnam’s regulatory push toward digital finance also strengthens SaaS usage. The State Bank of Vietnam’s digital banking strategy encourages financial institutions to integrate cloud-enabled ecosystems, improving transparency and operational resilience. As a result, BFSI stands out as the dominant end-user, leveraging SaaS to enhance customer experience, ensure compliance, and maintain competitive agility in a fast-evolving financial landscape.

Gain a Competitive Edge with Our Vietnam Software as a Service Market Report 

• Vietnam Software as a Service Market Report by MarkNtel Advisors provides a detailed & thorough analysis of market size & share, growth rate, competitive landscape, and key players. This comprehensive analysis helps businesses gain a holistic understanding of the market dynamics & make informed decisions. 
• This report also highlights current market trends & future projections, allowing businesses to identify emerging opportunities & potential challenges. By understanding market forecasts, companies can align their strategies & stay ahead of the competition. 
• Vietnam Software as a Service Market Report aids in assessing & mitigating risks associated with entering or operating in the market. By understanding market dynamics, regulatory frameworks, and potential challenges, businesses can develop strategies to minimize risks & optimize their operations.

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