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Vietnam Mainframe Modernization Services Market

Vietnam Mainframe Modernization Services Market By Type (Application Modernization, Cloud Migration, Data Modernization, Integration Services, Consulting Services); By Deployment Mode (On-premises, Cloud-based); By End-User (Banking, Financial Services, and Insurance (BFSI), Healthcare, IT and Telecommunications, Retail and E-commerce, Others); By Organization Size (Small and Medium Enterprises (SMEs), Large Enterprises) – Growth, Share, Opportunities & Competitive Analysis, 2024 – 2032

Summary
Table Of Content

REPORT ATTRIBUTE	DETAILS
Historical Period	2019-2022
Base Year	2023
Forecast Period	2024-2032
Vietnam Mainframe Modernization Services Market Size 2023	USD 49.89 million
Vietnam Mainframe Modernization Services Market, CAGR	17.15%
Vietnam Mainframe Modernization Services Market Size 2032	USD 204.04 million

Market Overview

The Vietnam Mainframe Modernization Services market is projected to grow from USD 49.89 million in 2023 to USD 204.04 million by 2032, with a compound annual growth rate (CAGR) of 17.15%.

The Vietnam Mainframe Modernization Services market is driven by the increasing demand for enhanced operational efficiency and the need to modernize legacy systems. As businesses shift toward digital transformation, there is a growing emphasis on adopting cloud-based solutions, automation, and AI-driven technologies. This shift is fueling the modernization of mainframe systems, enabling organizations to streamline operations, improve scalability, and reduce costs. Additionally, the rising adoption of hybrid IT infrastructures, coupled with advancements in cybersecurity, is driving the demand for secure and efficient mainframe modernization solutions. The need to comply with evolving regulatory requirements and the desire for seamless integration with modern applications are also significant factors contributing to market growth. With industries focusing on improving business agility and enhancing customer experiences, Vietnam’s mainframe modernization services are expected to experience robust growth, supported by technological innovations and strategic investments in digital infrastructure.

The Vietnam Mainframe Modernization Services market is characterized by a strong presence of key players across various regions, with significant activity concentrated in major urban centers like Hanoi and Ho Chi Minh City. These cities are home to many large enterprises and government organizations adopting digital transformation initiatives, creating a high demand for modernization services. Prominent players in this market include TCS, Infosys, Wipro Limited, HCL Technologies, and Accenture, who offer a range of solutions tailored to businesses’ needs. Additionally, local players like IBM Vietnam, Fujitsu, and Cognizant Vietnam are also contributing to the market’s growth, providing specialized services to meet the demands of businesses across different sectors. These companies are focusing on offering cloud migration, application modernization, and data integration services to help businesses upgrade their mainframe systems and stay competitive in a digital-first economy.

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Market Insights

The Vietnam Mainframe Modernization Services market was valued at USD 49.89 million in 2023 and is projected to reach USD 204.04 million by 2032, growing at a CAGR of 17.15%.
Increasing demand for digital transformation is driving the market as businesses modernize legacy systems to enhance scalability, efficiency, and integration with new technologies.
Adoption of cloud-based solutions and automation is a key trend, leading to greater market growth as businesses migrate their mainframe systems to the cloud.
The competition is intense, with key players like TCS, Infosys, Accenture, IBM Vietnam, and Fujitsu offering a wide range of services to meet diverse business needs.
High initial costs and complexity of mainframe modernization projects pose challenges for businesses, particularly SMEs, limiting market adoption.
Security and compliance concerns are driving demand for modernized systems that can meet evolving regulatory standards.
The Southeast and Northern regions dominate the market, with significant growth anticipated in Southern and Central Vietnam as digital infrastructure improves.

Market Drivers

Increasing Demand for Digital Transformation

The primary driver of the Vietnam Mainframe Modernization Services market is the growing need for digital transformation across industries. As businesses adopt cloud-based technologies, automation, and artificial intelligence, there is an urgent need to modernize legacy mainframe systems. For instance, the Agency for Enterprise Development under Vietnam’s Ministry of Planning and Investment has been actively promoting digital transformation among enterprises, highlighting the necessity of modernizing IT infrastructure to enhance operational efficiency. This transformation helps organizations reduce operational costs, improve scalability, and enhance overall efficiency. Enterprises are seeking solutions that enable seamless integration of modern applications with existing infrastructures, making mainframe modernization a crucial step toward achieving digital maturity.

Cost Reduction and Operational Efficiency

Mainframe modernization offers substantial cost-saving opportunities by replacing outdated, expensive legacy systems with more flexible and efficient solutions. As companies in Vietnam face increasing competition, they seek to optimize their IT expenditures by adopting scalable and cost-effective alternatives. For example, a report by the Ministry of Information and Communications indicates that digital transformation initiatives have significantly improved operational efficiency and reduced costs for Vietnamese enterprises. Modernized systems enable faster processing, reduce downtime, and improve resource utilization, which ultimately results in significant operational cost reductions. By transitioning from legacy platforms to more agile solutions, businesses can also minimize the risk of system failures and improve service reliability.

Enhanced Security and Compliance

Security concerns are a significant driver of the market, as legacy mainframe systems often lack the robust security features required to protect sensitive data in today’s increasingly complex cyber environment. With the rise in cyber threats, businesses are focusing on strengthening their cybersecurity posture by modernizing their mainframes. For instance, the Authority of Information Security under the Ministry of Information and Communications has been implementing various cybersecurity measures to protect critical information systems. Upgraded systems offer enhanced security features, better encryption, and the ability to meet evolving regulatory compliance requirements. This shift is particularly critical for industries such as finance, healthcare, and government, where data privacy and compliance are of utmost importance.

Integration with Emerging Technologies

The rise of emerging technologies such as artificial intelligence, machine learning, and big data analytics is another key driver for mainframe modernization in Vietnam. These technologies require modern infrastructure that can support high volumes of data processing and complex analytics. Legacy mainframe systems often struggle to integrate with these advanced technologies, limiting an organization’s ability to leverage them effectively. By modernizing their mainframes, companies can unlock the potential of these cutting-edge technologies, improve decision-making, and drive business growth in an increasingly data-driven world.

Market Trends

Shift Toward Cloud-Native Solutions

A prominent trend in the Vietnam Mainframe Modernization Services market is the shift toward cloud-native solutions. Many businesses are moving their legacy systems to the cloud to benefit from increased scalability, flexibility, and cost-efficiency. For instance, the Vietnamese government launched the “National Digital Transformation Program,” aiming to make Vietnam a leading digital economy by 2030, which includes significant investments in cloud infrastructure. Cloud platforms offer greater agility, allowing companies to access resources on-demand, thereby optimizing their IT infrastructure. This trend is driving demand for modernization services that enable seamless migration of data and applications to the cloud, facilitating improved business continuity and disaster recovery.

Adoption of Hybrid IT Environments

Another significant trend is the growing adoption of hybrid IT environments, combining both on-premises infrastructure and cloud-based systems. Organizations are increasingly seeking hybrid solutions to maintain control over sensitive data while leveraging the cost-efficiency and scalability of the cloud. Mainframe modernization services are evolving to support these hybrid environments, enabling businesses to integrate traditional mainframe systems with modern cloud platforms. This trend allows enterprises to transition gradually, preserving the value of their legacy systems while benefiting from the capabilities of cloud technologies.

Increased Focus on Automation and AI Integration

The integration of automation and artificial intelligence (AI) is rapidly gaining momentum in the Vietnam Mainframe Modernization Services market. Organizations are seeking to automate routine tasks, optimize processes, and enhance decision-making by incorporating AI-powered tools into their mainframe modernization initiatives. AI capabilities, such as predictive analytics and machine learning, are improving system performance and providing valuable insights into business operations. This trend is driving demand for modernization services that enable businesses to fully leverage AI and automation in their mainframe systems.

Rising Demand for Security and Compliance Features

As cybersecurity threats become more sophisticated, there is an increasing demand for mainframe modernization services that prioritize enhanced security and compliance features. Companies in sectors such as finance, healthcare, and government are under growing pressure to meet stringent regulatory requirements and protect sensitive data. Modernized mainframe systems offer advanced encryption, multi-layered security protocols, and the ability to integrate with modern security frameworks. This trend is shaping the market, as organizations seek to mitigate risks and ensure compliance while embracing digital transformation.

Market Challenges Analysis

High Initial Investment and Complexity

One of the primary challenges in the Vietnam Mainframe Modernization Services market is the high initial investment required for modernization projects. The cost of transitioning from legacy systems to modern solutions can be significant, involving expenses related to software, infrastructure, and skilled workforce. For instance, a report by the Ministry of Information and Communications highlights that the financial burden of digital transformation projects, including mainframe modernization, is a major concern for many Vietnamese enterprises. Many businesses, particularly small and medium-sized enterprises (SMEs), may find it difficult to justify the financial outlay required for such large-scale projects. Additionally, the complexity of these transformations often requires careful planning, expertise, and time, making the process resource-intensive. Overcoming these barriers demands strong business cases that demonstrate the long-term value and return on investment from modernization efforts.

Integration and Compatibility Issues

Another challenge businesses face in mainframe modernization is ensuring compatibility and integration with existing systems and modern technologies. Legacy mainframes often operate in isolation, using outdated programming languages and protocols, which can create difficulties when integrating with newer applications, cloud solutions, or AI-driven technologies. Ensuring smooth interoperability between old and new systems requires advanced technical expertise and careful project management. This challenge is compounded by the risk of data loss or corruption during migration, which can hinder business continuity. Companies must navigate these complexities to ensure that modernization efforts do not disrupt day-to-day operations and deliver the expected benefits.

Market Opportunities

Growing Demand for Digital Transformation

Vietnam’s rapidly evolving digital landscape presents significant opportunities for the mainframe modernization services market. As businesses across various sectors, including finance, healthcare, and manufacturing, embrace digital transformation, the need for modernized IT infrastructure becomes increasingly critical. By upgrading legacy systems, organizations can achieve greater scalability, improved performance, and enhanced customer experiences. The shift toward cloud computing, artificial intelligence, and automation further amplifies the demand for mainframe modernization services, as companies seek to integrate these advanced technologies with their existing mainframe environments. This trend provides a lucrative opportunity for service providers to offer tailored solutions that help businesses modernize their systems, streamline operations, and accelerate their digitalization journeys.

Expansion of Hybrid IT Environments

The rising adoption of hybrid IT environments offers another key opportunity for mainframe modernization service providers in Vietnam. Many organizations are integrating both on-premises and cloud-based infrastructures to optimize their operations, ensuring flexibility while maintaining control over sensitive data. As businesses seek seamless integration between legacy mainframes and modern cloud platforms, there is a growing demand for services that can support such transitions. Service providers that offer hybrid solutions, including migration, integration, and security, can capitalize on this trend by helping companies maintain business continuity while modernizing their systems. The increasing focus on cybersecurity and compliance also presents opportunities for service providers to offer enhanced security features as part of the modernization process, addressing key concerns in sensitive industries.

Market Segmentation Analysis:

By Type:

The Vietnam Mainframe Modernization Services market can be segmented into several key types, each addressing specific modernization needs. Application modernization focuses on upgrading and re-engineering legacy applications to improve performance, scalability, and integration with modern systems. Cloud migration is gaining traction as businesses move their on-premises mainframe systems to the cloud for enhanced flexibility and cost-efficiency. Data modernization ensures that legacy data systems are upgraded to handle current data processing demands, allowing organizations to leverage big data analytics and advanced technologies. Integration services enable businesses to seamlessly connect old mainframe systems with new platforms, facilitating smooth operations across digital ecosystems. Lastly, consulting services play a crucial role by offering expert guidance throughout the modernization journey, helping businesses navigate complex transformations, manage risks, and optimize their digital strategies. As businesses continue to embrace digital transformation, demand for these services is expected to rise, supporting the overall growth of the market.

By Deployment Mode:

In terms of deployment mode, the market is divided into on-premises and cloud-based solutions. On-premises deployment involves businesses retaining their mainframe systems within their own data centers, offering greater control over data and security but requiring significant infrastructure investment. Cloud-based solutions, on the other hand, are becoming increasingly popular as they offer scalability, reduced maintenance costs, and greater flexibility. The shift to cloud-based deployment is driven by businesses’ desire to enhance operational agility and reduce the complexity of managing on-premises infrastructure. With the increasing adoption of cloud technologies and hybrid IT environments, cloud-based mainframe modernization services are expected to dominate the market in Vietnam, providing organizations with cost-effective and future-ready solutions. This shift toward cloud deployment is likely to be a key growth driver for the mainframe modernization services market in the coming years.

Segments:

Based on Type:

Application Modernization
Cloud Migration
Data Modernization
Integration Services
Consulting Services

Based on Deployment Mode:

On-premises
Cloud-based

Based on End-User:

Banking, Financial Services, and Insurance (BFSI)
Healthcare
IT and Telecommunications
Retail and E-commerce
Others

Based on Organization Size:

Small and Medium Enterprises (SMEs)
Large Enterprises

Based on the Geography:

Southeast Vietnam
Northern Vietnam
Central Vietnam
Southern Vietnam

Regional Analysis

Southeast Vietnam

Southeast region holds the largest market share, accounting for approximately 45% of the total market in 2023. This is driven by the high concentration of technology-driven businesses and multinational companies located in major urban centers like Ho Chi Minh City and Hanoi. The adoption of digital transformation initiatives and the growing need to modernize legacy mainframe systems among large enterprises are key factors driving this dominant share. Additionally, the presence of advanced infrastructure and government initiatives to foster technological advancement in these regions is propelling market growth.

Northern Vietnam

Northern Vietnam, which includes Hanoi and surrounding areas, is also a significant player in the market, contributing around 25% to the overall market share. The region has seen a surge in businesses adopting IT solutions, particularly in sectors such as banking, manufacturing, and government services. The government’s push toward smart city initiatives and digital infrastructure in cities like Hanoi has created a conducive environment for mainframe modernization services. The region’s strategic location and access to skilled labor further support its role in the modernization efforts, making it a critical area for service providers to focus on.

Central Vietnam

Central Vietnam, encompassing key cities like Da Nang and Hue, holds about 15% of the market share. Although this region is relatively smaller compared to the Southeast and Northern regions, it is seeing increasing investments in digital transformation from local businesses and startups. The growing interest in cloud technologies and the need for scalable solutions in industries like tourism, manufacturing, and education are driving demand for mainframe modernization services. As infrastructure improves and businesses expand their digital capabilities, the market share of Central Vietnam is expected to gradually increase in the coming years.

Southern Vietnam

Southern Vietnam, primarily centered around Ho Chi Minh City, is expected to witness rapid growth in the next few years, contributing around 15% to the market share by 2032. This region remains a hub for technology companies, including IT service providers, multinational corporations, and startups focusing on e-commerce and digital services. With the accelerating shift to cloud computing and advanced technologies like AI and machine learning, Southern Vietnam’s demand for mainframe modernization services will continue to rise. The region’s strong economic performance and its role as a tech and business center position it for future growth, making it a key area for service providers to target.

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Key Player Analysis

TCS
Infosys
Wipro Limited
HCL Technologies
Accenture
IBM Vietnam
Fujitsu
Tech Mahindra
Cognizant Vietnam
Capgemini Vietnam

Competitive Analysis

The Vietnam Mainframe Modernization Services market is highly competitive, with leading players offering a wide range of solutions to cater to diverse business needs. Key players include TCS, Infosys, Wipro Limited, HCL Technologies, Accenture, IBM Vietnam, Fujitsu, Tech Mahindra, Cognizant Vietnam, and Capgemini Vietnam. Leading companies are focused on providing comprehensive modernization services, including cloud migration, application modernization, data integration, and consulting. For instance, IBM Vietnam has been actively integrating AI capabilities into its mainframe systems to enhance transactional workloads and streamline operations. These players compete on the basis of service quality, technological innovation, and the ability to address the specific needs of different industries. Many companies differentiate themselves by integrating advanced technologies such as artificial intelligence, machine learning, and automation into their modernization strategies. Additionally, businesses are increasingly looking for service providers that offer end-to-end solutions, including seamless integration with cloud platforms and legacy systems. Another competitive factor is the ability to deliver cost-effective solutions, particularly for small and medium-sized enterprises (SMEs) that face budget constraints. The market is also witnessing a shift toward hybrid IT environments, prompting service providers to offer flexible and scalable solutions. Companies that can provide tailored modernization strategies while ensuring security, compliance, and minimal disruption to operations are likely to gain a competitive edge. The increasing demand for expertise in cloud technologies and data security further intensifies the competition in this growing market.

Recent Developments

In August 2024, Capgemini signed an agreement to acquire Syniti, one of the leading companies in the enterprise data management software and services including platform and migration services. This acquisition will strengthen Capgemini’s data-driven solutions, especially for large-scale SAP transformations like the shift to SAP S/4HANA.
In June 2024, Oracle and Google Cloud announced a partnership in which Google Cloud will offer Oracle Cloud Infrastructure (OCI) database services and high-speed network interconnect with Oracle. This partnership will enable users to accelerate their application migrations and modernization.
In June 2024, Cognizant expanded its partnership with Cengage Group. This move highlights the trend of modernizing educational platforms by integrating advanced technologies to enhance digital learning experiences, reflecting the broader push towards modernizing application infrastructures across sectors.
In April 2024, Atos officially renewed its participation in the robust Amazon Web Services (AWS) Managed Service Provider (MSP) Partner Program. The AWS MSP Partner Program recognizes and evaluates top APN Consulting Partners who excel at providing complete lifecycle solutions to customers. Next-generation AWS MSPs can assist organizations in inventing the future, solving business problems, and supporting projects by focusing on critical results.
In April 2024, Fujitsu Limited and Oracle partnered to provide sovereign cloud and AI capabilities that satisfy the digital sovereignty needs of Japanese businesses and the public sector.
In April 2024, Cloud Software Group Inc. and Microsoft Corp. deepened their collaboration with a focus on Citrix virtual applications and cloud AI solutions. This partnership underscores the importance of cloud migration and AI integration in application modernization, emphasizing the need for businesses to update their legacy systems to leverage these technologies.
In January 2024, IBM announced that it had entered a definitive deal to acquire Advanced’s application modernization capabilities, bringing a combination of talent, tools, and knowledge to IBM Consulting’s mainframe application and data modernization services. The announced acquisition will allow us to support better clients’ mainframe application modernization journeys, representing another significant step forward in IBM’s hybrid cloud and AI strategy.
In January 2024, Accenture acquired Work & Co, enhancing its capabilities in creating innovative digital products. This acquisition reflects the increasing importance of blending design and technology to modernize applications, helping clients improve user experiences and stay competitive in the digital age.

Market Concentration & Characteristics

The market concentration of Vietnam Mainframe Modernization Services is moderate, with a mix of global technology giants and regional players dominating the landscape. While large multinational companies hold a significant portion of the market due to their established reputation, advanced technology capabilities, and global reach, regional players also maintain a strong foothold by offering tailored solutions that cater to the unique needs of local businesses. This dynamic creates a competitive environment where service providers must continuously innovate and adapt to meet the evolving demands of their clients. The characteristics of the market reflect the growing demand for digital transformation services, especially as businesses seek to modernize their legacy systems. Key characteristics include an increasing shift toward cloud-based solutions, the adoption of AI and automation technologies, and a rising emphasis on hybrid IT environments. Additionally, there is a strong focus on delivering cost-effective and scalable solutions, particularly for SMEs, which is driving service providers to develop flexible offerings that align with varying business needs. Security, data privacy, and compliance also play a critical role in shaping the market, with businesses seeking modernization solutions that ensure minimal risk and disruption. The market is expected to continue evolving as enterprises in Vietnam increasingly recognize the value of modernization in achieving operational efficiency and business growth.

Report Coverage

The research report offers an in-depth analysis based on Type, Deployment Mode, End-User, Organization Size and Geography. It details leading market players, providing an overview of their business, product offerings, investments, revenue streams, and key applications. Additionally, the report includes insights into the competitive environment, SWOT analysis, current market trends, as well as the primary drivers and constraints. Furthermore, it discusses various factors that have driven market expansion in recent years. The report also explores market dynamics, regulatory scenarios, and technological advancements that are shaping the industry. It assesses the impact of external factors and global economic changes on market growth. Lastly, it provides strategic recommendations for new entrants and established companies to navigate the complexities of the market.

Future Outlook

The growing demand for real-time data processing and analytics will drive the need for modernized mainframe systems.
Companies will prioritize scalability and flexibility in their modernization strategies to support business growth and evolving technology needs.
Increased investment in IT infrastructure by both public and private sectors will create a favorable environment for mainframe modernization.
The adoption of 5G and IoT technologies will further push the need for more efficient and integrated mainframe systems.
Emerging technologies such as blockchain and edge computing may influence the direction of mainframe modernization services.
Service providers will leverage advanced tools and methodologies, like DevOps and agile frameworks, to improve service delivery and reduce modernization timelines.
There will be greater emphasis on user-centric modernization approaches, ensuring systems are tailored to enhance user experience and operational efficiency.
The market will witness a rise in managed services as organizations look for outsourcing options for maintaining modernized systems.
As Vietnam’s digital economy continues to expand, the demand for skilled professionals in mainframe modernization will increase.
Collaboration with cloud service providers will become a key strategy for companies looking to offer seamless mainframe modernization solutions.

CHAPTER NO. 1 : INTRODUCTION 21

1.1.1. Report Description 21

Purpose of the Report 21

USP & Key Offerings 21

1.1.2. Key Benefits for Stakeholders 21

1.1.3. Target Audience 22

1.1.4. Report Scope 22

CHAPTER NO. 2 : EXECUTIVE SUMMARY 23

2.1. Mainframe Modernization Services Market Snapshot 23

2.1.1. Vietnam Mainframe Modernization Services Market, 2018 – 2032 (USD Million) 24

CHAPTER NO. 3 : GEOPOLITICAL CRISIS IMPACT ANALYSIS 25

3.1. Russia-Ukraine and Israel-Palestine War Impacts 25

CHAPTER NO. 4 : MAINFRAME MODERNIZATION SERVICES MARKET – INDUSTRY ANALYSIS 26

4.1. Introduction 26

4.2. Market Drivers 27

4.2.1. Growing need for operational efficiency and scalability 27

4.2.2. Increasing adoption of cloud-based technologies. 28

4.3. Market Restraints 29

4.3.1. High initial costs associated with modernization 29

4.4. Market Opportunities 30

4.4.1. Advancements in AI and machine learning for enhanced automation 30

4.5. Porter’s Five Forces Analysis 31

4.6. Buying Criteria 32

CHAPTER NO. 5 : IMPORT EXPORT ANALYSIS 33

5.1. Import Analysis by Vietnam 33

5.1.1. Vietnam Mainframe Modernization Services Market Import Volume/Revenue, By Vietnam, 2018 – 2023 33

5.2. Export Analysis by Vietnam 34

5.2.1. Vietnam Mainframe Modernization Services Market Export Volume/Revenue, By Vietnam, 2018 – 2023 34

CHAPTER NO. 6 : DEMAND SUPPLY ANALYSIS 35

6.1. Demand Analysis by Vietnam 35

6.1.1. Vietnam Mainframe Modernization Services Market Demand Volume/Revenue, By Vietnam, 2018 – 2023 35

6.2. Supply Analysis by Vietnam 36

6.2.1. Vietnam Mainframe Modernization Services Market Supply Volume/Revenue, By Vietnam, 2018 – 2023 36

CHAPTER NO. 7 : PRODUCTION ANALYSIS 37

7.1. Production Analysis by Vietnam 37

7.1.1. Vietnam Mainframe Modernization Services Market Production Volume/Revenue, By Vietnam, 2018 – 2023 37

CHAPTER NO. 8 : PRICE ANALYSIS 38

8.1. Price Analysis by Type 38

8.1.1. Vietnam Mainframe Modernization Services Market Price, By Type, 2018 – 2023 38

8.1.2. Vietnam Type Market Price, By Type, 2018 – 2023 38

CHAPTER NO. 9 : RAW MATERIALS ANALYSIS 39

9.1. Key Raw Materials and Suppliers 39

9.2. Key Raw Materials Price Trend 39

CHAPTER NO. 10 : MANUFACTURING COST ANALYSIS 40

10.1. Manufacturing Cost Analysis 40

10.2. Manufacturing Process 40

CHAPTER NO. 11 : ANALYSIS COMPETITIVE LANDSCAPE 41

11.1. Company Market Share Analysis – 2023 41

11.2. Value Chain Analysis 41

11.2.1. Vietnam Mainframe Modernization Services Market: Company Market Share, by Volume, 2023 42

11.2.2. Vietnam Mainframe Modernization Services Market: Company Market Share, by Revenue, 2023 43

11.2.3. Vietnam Mainframe Modernization Services Market: Top 6 Company Market Share, by Revenue, 2023 43

11.2.4. Vietnam Mainframe Modernization Services Market: Top 3 Company Market Share, by Revenue, 2023 44

11.3. Vietnam Mainframe Modernization Services Market Company Volume Market Share, 2023 45

11.4. Vietnam Mainframe Modernization Services Market Company Revenue Market Share, 2023 46

11.5. Company Assessment Metrics, 2023 46

11.5.1. Stars 46

11.5.2. Emerging Leaders 46

11.5.3. Pervasive Players 46

11.5.4. Participants 46

11.6. Start-ups /SMEs Assessment Metrics, 2023 46

11.6.1. Progressive Companies 46

11.6.2. Responsive Companies 47

11.6.3. Dynamic Companies 47

11.6.4. Starting Blocks 47

11.7. Strategic Developments 48

11.7.1. Acquisitions & Mergers 48

New Product Launch 48

Vietnam Expansion 48

11.8. Key Players Product Matrix 49

CHAPTER NO. 12 : PESTEL & ADJACENT MARKET ANALYSIS 50

12.1. PESTEL 50

12.1.1. Political Factors 50

12.1.2. Economic Factors 50

12.1.3. Social Factors 50

12.1.4. Technological Factors 50

12.1.5. Environmental Factors 50

12.1.6. Legal Factors 50

12.2. Adjacent Market Analysis 50

CHAPTER NO. 13 : MAINFRAME MODERNIZATION SERVICES MARKET – BY TYPE SEGMENT ANALYSIS 51

13.1. Mainframe Modernization Services Market Overview, by Type Segment 51

13.1.1. Mainframe Modernization Services Market Revenue Share, By Type, 2023 & 2032 52

13.1.2. Mainframe Modernization Services Market Attractiveness Analysis, By Type 53

13.1.3. Incremental Revenue Growth Opportunity, by Type, 2024 – 2032 53

13.1.4. Mainframe Modernization Services Market Revenue, By Type, 2018, 2023, 2027 & 2032 54

13.2. Application Modernization 55

13.3. Cloud Migration 56

13.4. Data Modernization 57

13.5. Integration Services 58

13.6. Consulting Services 59

CHAPTER NO. 14 : MAINFRAME MODERNIZATION SERVICES MARKET – BY DEPLOYMENT MODE SEGMENT ANALYSIS 60

14.1. Mainframe Modernization Services Market Overview, by Deployment Mode Segment 60

14.1.1. Mainframe Modernization Services Market Revenue Share, By Deployment Mode, 2023 & 2032 61

14.1.2. Mainframe Modernization Services Market Attractiveness Analysis, By Deployment Mode 62

14.1.3. Incremental Revenue Growth Opportunity, by Deployment Mode, 2024 – 2032 62

14.1.4. Mainframe Modernization Services Market Revenue, By Deployment Mode, 2018, 2023, 2027 & 2032 63

14.2. On-premises 64

14.3. Cloud-based 65

CHAPTER NO. 15 : MAINFRAME MODERNIZATION SERVICES MARKET – BY END-USER INDUSTRY SEGMENT ANALYSIS 66

15.1. Mainframe Modernization Services Market Overview, by End-User Industry Segment 66

15.1.1. Mainframe Modernization Services Market Revenue Share, By End-User Industry, 2023 & 2032 67

15.1.2. Mainframe Modernization Services Market Attractiveness Analysis, By End-User Industry 68

15.1.3. Incremental Revenue Growth Opportunity, by End-User Industry, 2024 – 2032 68

15.1.4. Mainframe Modernization Services Market Revenue, By End-User Industry, 2018, 2023, 2027 & 2032 69

15.2. Banking, Financial Services, and Insurance (BFSI) 70

15.3. Healthcare 71

15.4. IT and Telecommunications 72

15.5. Retail and E-commerce 73

CHAPTER NO. 16 : MAINFRAME MODERNIZATION SERVICES MARKET – BY ORGANIZATION SIZE SEGMENT ANALYSIS 74

16.1. Mainframe Modernization Services Market Overview, by Organization Size Segment 74

16.1.1. Mainframe Modernization Services Market Revenue Share, By Organization Size, 2023 & 2032 75

16.1.2. Mainframe Modernization Services Market Attractiveness Analysis, By Organization Size 76

16.1.3. Incremental Revenue Growth Opportunity, by Organization Size, 2024 – 2032 76

16.1.4. Mainframe Modernization Services Market Revenue, By Organization Size, 2018, 2023, 2027 & 2032 77

16.2. Small and Medium Enterprises (SMEs) 78

16.3. Large Enterprises 79

CHAPTER NO. 17 : MAINFRAME MODERNIZATION SERVICES MARKET – VIETNAM ANALYSIS 80

17.1. Type 80

17.1.1. Vietnam Mainframe Modernization Services Market Revenue, By Type, 2018 – 2023 (USD Million) 80

17.2. Vietnam Mainframe Modernization Services Market Revenue, By Type, 2024 – 2032 (USD Million) 80

17.3. Deployment Mode 81

17.3.1. Vietnam Mainframe Modernization Services Market Revenue, By Deployment Mode, 2018 – 2023 (USD Million) 81

17.3.2. Vietnam Mainframe Modernization Services Market Revenue, By Deployment Mode, 2024 – 2032 (USD Million) 81

17.4. End-User Industry 82

17.4.1. Vietnam Mainframe Modernization Services Market Revenue, By End-User Industry, 2018 – 2023 (USD Million) 82

17.4.2. Vietnam Mainframe Modernization Services Market Revenue, By End-User Industry, 2024 – 2032 (USD Million) 82

17.5. Organization Size 83

17.5.1. Vietnam Mainframe Modernization Services Market Revenue, By Organization Size, 2018 – 2023 (USD Million) 83

17.5.2. Vietnam Mainframe Modernization Services Market Revenue, By Organization Size, 2024 – 2032 (USD Million) 83

CHAPTER NO. 18 : COMPANY PROFILES 84

18.1. TCS 84

18.1.1. Company Overview 84

18.1.2. Product Portfolio 84

18.1.3. Swot Analysis 84

18.1.4. Business Strategy 85

18.1.5. Financial Overview 85

18.2. Infosys 86

18.3. Wipro Limited 86

18.4. HCL Technologies 86

18.5. Accenture 86

18.6. IBM Vietnam 86

18.7. Fujitsu 86

18.8. Tech Mahindra 86

18.9. Cognizant Vietnam 86

18.10. Capgemini Vietnam 86

List of Figures

FIG NO. 1. Vietnam Mainframe Modernization Services Market Revenue, 2018 – 2032 (USD Million) 24

FIG NO. 2. Porter’s Five Forces Analysis for Vietnam Mainframe Modernization Services Market 31

FIG NO. 3. Vietnam Mainframe Modernization Services Market Import Volume/Revenue, By Vietnam, 2018 – 2023 33

FIG NO. 4. Vietnam Mainframe Modernization Services Market Export Volume/Revenue, By Vietnam, 2018 – 2023 34

FIG NO. 5. Vietnam Mainframe Modernization Services Market Demand Volume/Revenue, By Vietnam, 2018 – 2023 35

FIG NO. 6. Vietnam Mainframe Modernization Services Market Supply Volume/Revenue, By Vietnam, 2018 – 2023 36

FIG NO. 7. Vietnam Mainframe Modernization Services Market Production Volume/Revenue, By Vietnam, 2018 – 2023 37

FIG NO. 8. Vietnam Mainframe Modernization Services Market Price, By Type, 2018 – 2023 38

FIG NO. 9. Raw Materials Price Trend Analysis, 2018 – 2023 39

FIG NO. 10. Manufacturing Cost Analysis 40

FIG NO. 11. Manufacturing Process 40

FIG NO. 12. Value Chain Analysis for Vietnam Mainframe Modernization Services Market 41

FIG NO. 13. Company Share Analysis, 2023 42

FIG NO. 14. Company Share Analysis, 2023 43

FIG NO. 15. Company Share Analysis, 2023 43

FIG NO. 16. Company Share Analysis, 2023 44

FIG NO. 17. Mainframe Modernization Services Market – Company Volume Market Share, 2023 45

FIG NO. 18. Mainframe Modernization Services Market – Company Revenue Market Share, 2023 46

FIG NO. 19. Mainframe Modernization Services Market Revenue Share, By Type, 2023 & 2032 52

FIG NO. 20. Market Attractiveness Analysis, By Type 53

FIG NO. 21. Incremental Revenue Growth Opportunity by Type, 2024 – 2032 53

FIG NO. 22. Mainframe Modernization Services Market Revenue, By Type, 2018, 2023, 2027 & 2032 54

FIG NO. 23. Vietnam Mainframe Modernization Services Market for Application Modernization, Revenue (USD Million) 2018 – 2032 55

FIG NO. 24. Vietnam Mainframe Modernization Services Market for Cloud Migration, Revenue (USD Million) 2018 – 2032 56

FIG NO. 25. Vietnam Mainframe Modernization Services Market for Data Modernization, Revenue (USD Million) 2018 – 2032 57

FIG NO. 26. Vietnam Mainframe Modernization Services Market for Integration Services, Revenue (USD Million) 2018 – 2032 58

FIG NO. 27. Vietnam Mainframe Modernization Services Market for Consulting Services, Revenue (USD Million) 2018 – 2032 59

FIG NO. 28. Mainframe Modernization Services Market Revenue Share, By Deployment Mode, 2023 & 2032 61

FIG NO. 29. Market Attractiveness Analysis, By Deployment Mode 62

FIG NO. 30. Incremental Revenue Growth Opportunity by Deployment Mode, 2024 – 2032 62

FIG NO. 31. Mainframe Modernization Services Market Revenue, By Deployment Mode, 2018, 2023, 2027 & 2032 63

FIG NO. 32. Vietnam Mainframe Modernization Services Market for On-premises, Revenue (USD Million) 2018 – 2032 64

FIG NO. 33. Vietnam Mainframe Modernization Services Market for Cloud-based, Revenue (USD Million) 2018 – 2032 65

FIG NO. 34. Mainframe Modernization Services Market Revenue Share, By End-User Industry, 2023 & 2032 67

FIG NO. 35. Market Attractiveness Analysis, By End-User Industry 68

FIG NO. 36. Incremental Revenue Growth Opportunity by End-User Industry, 2024 – 2032 68

FIG NO. 37. Mainframe Modernization Services Market Revenue, By End-User Industry, 2018, 2023, 2027 & 2032 69

FIG NO. 38. Vietnam Mainframe Modernization Services Market for Banking, Financial Services, and Insurance (BFSI), Revenue (USD Million) 2018 – 2032 70

FIG NO. 39. Vietnam Mainframe Modernization Services Market for Healthcare, Revenue (USD Million) 2018 – 2032 71

FIG NO. 40. Vietnam Mainframe Modernization Services Market for IT and Telecommunications, Revenue (USD Million) 2018 – 2032 72

FIG NO. 41. Vietnam Mainframe Modernization Services Market for Retail and E-commerce, Revenue (USD Million) 2018 – 2032 73

FIG NO. 42. Mainframe Modernization Services Market Revenue Share, By Organization Size, 2023 & 2032 75

FIG NO. 43. Market Attractiveness Analysis, By Organization Size 76

FIG NO. 44. Incremental Revenue Growth Opportunity by Organization Size, 2024 – 2032 76

FIG NO. 45. Mainframe Modernization Services Market Revenue, By Organization Size, 2018, 2023, 2027 & 2032 77

FIG NO. 46. Vietnam Mainframe Modernization Services Market for Small and Medium Enterprises (SMEs), Revenue (USD Million) 2018 – 2032 78

FIG NO. 47. Vietnam Mainframe Modernization Services Market for Large Enterprises, Revenue (USD Million) 2018 – 2032 79

List of Tables

TABLE NO. 1. : Vietnam Mainframe Modernization Services Market: Snapshot 23

TABLE NO. 2. : Drivers for the Mainframe Modernization Services Market: Impact Analysis 27

TABLE NO. 3. : Restraints for the Mainframe Modernization Services Market: Impact Analysis 29

TABLE NO. 4. : Vietnam Mainframe Modernization Services Market Revenue, By Type, 2018 – 2023 38

TABLE NO. 5. : Key Raw Materials & Suppliers 39

TABLE NO. 6. : Vietnam Mainframe Modernization Services Market Revenue, By Type, 2018 – 2023 (USD Million) 80

TABLE NO. 7. : Vietnam Mainframe Modernization Services Market Revenue, By Type, 2024 – 2032 (USD Million) 80

TABLE NO. 8. : Vietnam Mainframe Modernization Services Market Revenue, By Deployment Mode, 2018 – 2023 (USD Million) 81

TABLE NO. 9. : Vietnam Mainframe Modernization Services Market Revenue, By Deployment Mode, 2024 – 2032 (USD Million) 81

TABLE NO. 10. : Vietnam Mainframe Modernization Services Market Revenue, By End-User Industry, 2018 – 2023 (USD Million) 82

TABLE NO. 11. : Vietnam Mainframe Modernization Services Market Revenue, By End-User Industry, 2024 – 2032 (USD Million) 82

TABLE NO. 12. : Vietnam Mainframe Modernization Services Market Revenue, By Organization Size, 2018 – 2023 (USD Million) 83

TABLE NO. 13. : Vietnam Mainframe Modernization Services Market Revenue, By Organization Size, 2024 – 2032 (USD Million) 83

Frequently Asked Questions

What is the current size of the Vietnam Mainframe Modernization Services market?

The Vietnam Mainframe Modernization Services market was valued at USD 49.89 million in 2023 and is projected to grow to USD 204.04 million by 2032, reflecting a compound annual growth rate (CAGR) of 17.15%.

What factors are driving the growth of the Vietnam Mainframe Modernization Services market?

The market growth is driven by increasing demand for digital transformation, adoption of cloud-based solutions and automation, advancements in cybersecurity, and the need for enhanced operational efficiency. Businesses are modernizing legacy systems to improve scalability, reduce costs, and integrate emerging technologies like AI and machine learning.

What are the key segments within the Vietnam Mainframe Modernization Services market?

The market is segmented by type into application modernization, cloud migration, data modernization, integration services, and consulting services. Deployment modes include on-premises and cloud-based solutions, catering to end-users across industries such as BFSI, healthcare, IT and telecommunications, retail and e-commerce, and others.

Who are the major players in the Vietnam Mainframe Modernization Services market?

Key players include TCS, Infosys, Wipro Limited, HCL Technologies, Accenture, IBM Vietnam, Fujitsu, Tech Mahindra, Cognizant Vietnam, and Capgemini Vietnam. These companies offer a range of services such as cloud migration, application modernization, and consulting, helping businesses upgrade and optimize their mainframe systems.

About Author

Sushant Phapale

ICT & Automation Expert

Sushant is an expert in ICT, automation, and electronics with a passion for innovation and market trends.

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Reviewed By
Gunakesh Parmar

Research Consultant

With over 15 years of dedicated experience in market research since 2009, specializes in delivering actionable insights from data.

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