“I want to emphasize that Vietnam is a great market because Vietnam has a lot of potential in technology,” said Gibu Mathew, Zoho’s Vice President and CEO of Apec.
The explosion of technology, as well as the strong digitalization trend, has prompted the need to shorten the product creation cycle. This led to the development of a low-code no-code (LCNC) platform – supporting the digitization process of businesses to be simpler and faster.
According to Statista, 29% of businesses find LCNC application development 40-60% faster than conventional methods. Because, these solutions help reduce the time to perfect and bring the product to market by eliminating complicated processes in software development, focusing only on keeping the user interface and experience (UI/UX). ) friendly.
LCNC market is expected to reach 65.15 billion USD by 2027
Gartner forecasts that by 2024, LCNC application development will account for more than 65% of application development activities. The global low-code platform market value is estimated to reach $12.85 billion in 2020 and is expected to reach $65.15 billion by 2027 with a CAGR of 22.7% between 2020 and 2027.
Also according to a report from Gartner, it is forecasted that by 2024, about 80% of technology products will be created by non-technical users such as general programmers, business technicians and artificial intelligence. . The transition to LCNC platforms has already begun, and Southeast Asian businesses need to take advantage of this opportunity to find a leading edge.
Zoho’s survey also shows that businesses are using LCNC platforms for their own purposes: 45% for digitizing business information, 32% for automating work, and 25% for developing new products. client interaction application.
” I want to emphasize that Vietnam is a great market because Vietnam possesses a lot of potential in technology. Vietnam has advantages in manufacturing and other aspects. For example, in the past few years, there are many factories springing up very quickly with well-invested facilities.
Particularly for LCNC, it can be said that the growth of the information technology field is one of the important factors that directly affect this market . Because to develop the LCNC platform, a complete technology ecosystem is essential.
If comparing Vietnam with our home country, India has a technology ecosystem for the development of the LCNC platform by becoming the outsourcing and technology outsourcing market for many major countries in the world. world 15-20 years ago. And it is expected that within 10 years or sooner, Vietnam will achieve the same achievements as India now , “ shared Mr. Gibu Mathew, Zoho’s Vice President and CEO of Apec.
The question is, what is LCNC and how does it work?
Gibu Mathew explains, LCNC is essentially an intuitive way of developing applications, allowing developers from professionals to amateurs to collaborate and quickly build and deploy applications.
LCNC is the process of building software by automating the process of coding, debugging, testing, and deploying software development. Applications are built quickly by dragging and dropping intuitive blocks of code available on the platform into workflows for application creation and minimizing manual code writing and usage.
For example, Zoho Creator is a platform dedicated to building LCNC solutions and helping customers build their own solutions. In fact, the command line programs will be executed within the Zoho application, and Zoho Creator users will not see the process of running the command line. The entire complex process will be hidden from the user and will be converted into user-friendly visualizations for the user to observe the external surface.
Today, if you look at the different types of businesses in Vietnam, especially in the manufacturing sector, or other organizations, there are a lot of processes about people, databases, and paperwork that are still done. displayed in the usual manual way. At this point, the greatest value an organization can derive from an LCNC platform is to digitize those processes and improve administrative procedures. Because there are things that often can’t be improved and it’s very difficult to analyze data on paper.
Or for the automotive business process example, you can convert any document including printed text, and upload it to the cloud of the production process. You can convert and upload those documents to apps using your phone or tablet that have built-in factory data storage apps for easy use. Now, the steps of the production process are being digitized and can be monitored by operators using a tablet computer with cloud software. It brings a lot of information digitized, and further analyzes the information online or offline or in real time.
Vietnam is always a key market, the goal is to double in the period 2022-2023
It is known that Zoho, established in 1996, is an Indian technology consulting and software service provider. The company’s direction in the next few years is to offer highly strategic software in line with the business development roadmap. Zoho’s value is reflected in the way the company operates. Zoho has worked in 180 countries with over 7 million businesses. Zoho has more than 50 products available to businesses around the globe. As for LCNC, Zoho has been carrying out related projects since 2006. In Vietnam, Zoho is now recording 45% growth compared to 6 years ago.
” We have always considered Vietnam as one of the key markets , and anyone can see that this is a country that is on a strong growth momentum, especially in updating applications of all kinds. In the coming years, Zoho will invest more in the technology segment in the Vietnamese market.
We are trying to double the number of existing customers in 2022 and 2023 in Vietnam. We will expand our production scale, build a team, conduct localization and make our products more widely available in the domestic market ,” he stressed.
In particular, Zoho mainly focuses on businesses using the LCNC platform and programmers.
As an application developer, the Company realizes that the world, including India, a country with a similar demographic to Vietnam, has a lot of technicians and programmers. Observe that even students still in school have the potential to become future programmers with contributions to support businesses to adopt and build LCNC solutions.
For users, there are 2 main partners that Zoho is targeting: (i) building Zoho as a business to support businesses that need proprietary hosting solutions with applications our existing; (ii) LCNC platform wishes to support small, medium and large enterprises in Vietnam, build specific solutions for their needs, support the needs of businesses in terms of management, security , privacy, and workflow management with the new Zoho Creator platform.
Currently, 80% of online public services in Vietnam are at level 4 and need to be transformed to work on mobile devices, this process is being transformed gradually. ” Enterprises will soon understand the value, the improvement in work productivity as well as the growth that the digitalization process brings. Thereby providing the motivation for businesses to continue to develop and apply the technologies. technology and LCNC platforms to promote business growth as well as go to larger markets such as the US or neighboring countries in Southeast Asia ,” added a Zoho representative.