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Key Verticals for Software Expansion in Vietnam and the Broader ASEAN Market
Dante Bui
July 29, 2025
In our previous publication, we have discussed how Vietnam can be a strategic gateway to the ASEAN markets for software companies. Let’s take a closer look at high-growth sectors that are creating strong demand for technology-driven solutions.
1. Retail & eCommerce: Automation as a Necessity
Vietnam’s eCommerce market is expected to reach $49.9 billion by 2028, growing at a CAGR of 35%. Driven by 79% internet penetration and mobile-first behavior, Vietnamese consumers—especially Gen Z and Millennials—are driving demand in categories like electronics, fashion, and food.
Emerging trends like “shoppertainment” on platforms like TikTok Shop and livestream e-commerce are reshaping buyer behavior. However, while consumer demand is growing fast, back-end logistics, inventory, and customer service systems are struggling to keep up.
Software Opportunities:
- Logistics Automation: Smart hubs, DWS, cross-belt sorting, and route optimization
- AI-driven Inventory & POS Systems: Forecasting, restocking, personalized promotions
- Customer Service Chatbots: Handling thousands of inquiries efficiently
- E-commerce Enablement Tools: For MSMEs lacking in-house technical capabilities
Retail leaders like VinMart and Saigon Co.op are already deploying AI to improve operations. Software companies offering more than basic POS systems—focusing on smart automation and analytics—will have a clear competitive edge.
2. F&B and Hospitality: Enhancing Experience & Efficiency
Vietnam’s F&B industry reached $23.6 billion in 2023 and continues to expand, fueled by rising disposable incomes and a culture of dining out. Hospitality, particularly in urban centers and tourist hubs, is becoming more tech-forward in response to rising consumer expectations and operational complexity.
Yet, the sector faces pain points in food safety, supply chain disruptions, and labor-intensive operations—creating urgent demand for digital tools.
Software Opportunities:
- CRM & Guest Communication Tools: AI-powered chat, loyalty, feedback systems
- Property Management Systems (PMS): For hotels and vacation rentals
- Online Ordering & Reservation Tools: Especially mobile-first
- Supply Chain & Inventory Platforms: Focused on traceability and waste reduction
- Workforce Scheduling Solutions: To manage high staff turnover
Players like GuestGuru, Quore, and Apaleo are already making strides. Software that enhances convenience and operational control while aligning with sustainable practices will resonate deeply in this sector.
3. Manufacturing & Export: Software for Efficiency and Resilience
With exports in electronics alone reaching EUR 129 billion in 2023, Vietnam has become a global manufacturing hub. But rising trade tensions and tariff shifts are pressuring manufacturers to build more agile, traceable, and efficient supply chains.
Software Opportunities:
- ERP & MES Platforms: For end-to-end visibility across procurement, production, and logistics
- Supply Chain Management (SCM): For multi-supplier sourcing and demand planning
- Compliance & Documentation Tools: To meet tightened rules of origin and audits
- AI-based Forecasting: To minimize disruption and optimize inventory
Adoption of tools like Epicor Kinetic ERP has shown real impact, improving delivery times by 15% and increasing cost visibility. In today’s unpredictable landscape, software is no longer a support function—it’s core to operational resilience.
4. EdTech: Closing the Skills Gap
Vietnam’s EdTech sector is projected to reach $364.7 million in 2024, with double-digit growth driven by national education reforms, digital transformation mandates, and a growing skills gap in the labor market.
The government is backing this shift, with 16% of its 2024 national budget allocated to education and clear goals to digitalize 80–90% of vocational and higher education institutions by 2030.
Software Opportunities:
- Learning Management Systems (LMS) for schools and universities
- Workforce & Vocational Training Platforms
- Language Learning & STEAM Tools
- AI-powered EdTech Apps (e.g., ELSA Speak’s 54M downloads)
K-12 may dominate the current market, but enterprise learning, vocational reskilling, and higher ed represent high-potential niches. The regulatory support and nationwide push for education quality make this a strategic, long-term growth sector for SaaS companies.
5. Finance & FinTech: Unlocking Digital Inclusion
Vietnam’s financial sector contributes nearly 5% of national GDP, but remains under-digitized—especially compared to ASEAN peers. With 60–70% of the population still underbanked, digital banking is not just a convenience—it’s a national necessity.
Already, 32 million active e-wallet users are shifting toward QR payments and mobile-first platforms, with MoMo, ZaloPay, and VNPay leading adoption.
Software Opportunities:
- eKYC & Digital Onboarding Solutions
- Mobile Banking UX & AI Personalization Engines
- Accounting SaaS for MSMEs
- Integration with Local Wallets & Payment Systems
Techcombank is already seeing $40M in annual AI-driven revenue growth, with 97% of its retail transactions now digital. There’s a clear opening for software that makes financial services accessible, secure, and personalized.
Each of these verticals—Retail, F&B, Manufacturing, EdTech, and FinTech—reflects a broader regional trend. What succeeds in Vietnam can be localized and scaled across ASEAN, where consumer behaviors, infrastructure gaps, and digital adoption follow similar patterns.
For software companies, Vietnam is more than a low-cost market—it’s a high-growth, low-risk testing ground with a clear pathway to broader Southeast Asia expansion.
*The data cited in this article are sourced from recent reports by the World Bank, IMF, EY, PRCA, among others.
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