Vietnam's IT industry after COVID-19: Opportunities and challenges

07/06/2022

Vietnam’s IT service industry after COVID-19: Opportunities and challenges

According to Vietnam Report’s survey results conducted in June 2022, Vietnam’s information technology (IT) industry continues to grow strongly in the post-COVID-19 period. Specifically, revenue in this field in the first 6 months of 2022 reached about 77 billion USD, up 17% over the same period last year.

1. Industry market trends after Covid-19

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It can be seen that the COVID-19 pandemic has had a strong impact on Vietnam’s IT industry, creating many new opportunities for the industry’s development. In the context of the epidemic, businesses are forced to digitally transform to maintain business operations, which has boosted the need for businesses to use IT services.Besides, the development of new technology trends such as cloud computing, artificial intelligence, IoT,… also contributes to promoting the growth of Vietnam’s IT industry.
Below are some highlights of Vietnam’s IT services industry in the post-COVID-19 period:

Strong revenue growth: According to forecasts of the Ministry of Information and Communications, revenue of Vietnam’s information and communications technology sector in 2022 will reach about 150 billion USD, an increase of 20% compared to 2021.
High demand for IT human resources: The need for IT human resources in Vietnam continues to increase, especially for positions of software engineers, data experts,…
Trend of shifting to remote working: The COVID-19 pandemic has accelerated the trend of remote working in the IT industry, which helps IT businesses recruit talent from all over the world.

2. Opportunities and challenges in the information technology industry

The COVID-19 pandemic has had a strong impact on many industries, including the information technology industry. However, in that context, Vietnam’s IT industry continues to grow strongly, creating many new opportunities for businesses and workers.

opportunity-and-challenge

Opportunity

Strong revenue growth: According to forecasts of the Ministry of Information and Communications, revenue of Vietnam’s information and communications technology sector in 2022 will reach about 150 billion USD, an increase of 20% compared to 2021.
High demand for IT human resources: The need for IT human resources in Vietnam continues to increase, especially for positions of software engineers, data experts,…
Trend of shifting to remote working: The COVID-19 pandemic has accelerated the trend of remote working in the IT industry, which helps IT businesses recruit talent from all over the world.

Challenge

Competition is increasingly fierce: Vietnam’s IT industry is increasingly developing, with the participation of many domestic and foreign businesses. This makes competition in the industry increasingly fierce.
Human resource level is not uniform: Although the demand for IT human resources is high, the level of IT human resources in Vietnam is still uneven. This makes it difficult for IT businesses to find talent.

3. Conclusion

In general, Vietnam’s IT services industry is experiencing strong developments in the post-COVID-19 period. This is a potential profession with many attractive job and income opportunities in the future.