Malaysian technology solutions provider K-One Technology Berhad said its subsidiary, G-AsiaPacific Sdn Bhd (GAP), has signed an agreement with the Vietnet Distribution Joint Stock Company to prepare for a joint venture, which is in line with its plan to expand its cloud computing business in Vietnam.
The International Data Corporation (IDC) has predicted that Vietnam will lead Southeast Asia in cloud computing, with a compound annual growth rate (CAGR) of up to 32 per cent between 2018 and 2023.
Vietnam currently has 39 cloud service providers but they hold a market share of less than 20 per cent. The total market value in 2020 reached more than $196 million and is forecast to reach $603.34 million by 2026, with annual growth of 18.8 per cent. Cloud computing is expected to contribute 1 per cent of GDP by 2025.
As one of four inevitable trends for businesses globally, digital transformation creates changes in all fields, in which cloud computing technology solutions effectively support businesses.