FPT Entered Asia's Top 50 IT Services Companies
16.5.2024 11:34:00 EEST | Business Wire | Press release
Global IT technology firm FPT Corporation has been ranked in Asia’s top 50 IT services companies and top 150 globally by revenue, according to Gartner Market Share: Services, Worldwide, 2023. This marks FPT as the first Vietnam-headquartered tech firm to reach this milestone, underscoring the Corporation’s commitment to expanding its global customer base as well as providing comprehensive, end-to-end services and solutions.
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According to Gartner® Market Share: Services, Worldwide report, FPT generated over USD 1 billion in revenue from its global IT services in 2023. The Corporation now ranks 44th in Asia, up 8 places from the previous year. In the global league, FPT also changed 14 positions.
Beyond this segment, FPT’s total revenue reached USD 2.17 billion from its core businesses in technology, telecommunications, and education and investment, marking a growth rate of 19.6%. The growth was primarily driven by the world’s heightened demand for digital transformation, which continued to be one of FPT’s most highly sought-after services globally, with a 42% year-on-year increase in revenue. Additionally, the Japanese market saw the largest growth of over 52% in 2023, in terms of Japanese Yen, followed closely by the Asia-Pacific region with a 37.7% growth.
In 2023, FPT expanded its global footprint by opening new offices in the Americas, Japan, Korea, China, and Indonesia and making strategic investments and acquisition deals with Landing AI, Intertec International, Cardinal Peak, and AOSIS, as well as strengthening partnerships with industry leaders like SAP, Microsoft, AWS, Salesforce, and Adobe. It also enhanced expertise and core competencies in various domains, such as cloud and data, ERP modernization, healthcare, BFSI, energy and software-defined vehicles (SDVs), with the launch of FPT Automotive, an automotive technology subsidiary headquartered in the United States.
“Having entered the league of global billion-dollar IT service providers, FPT Corporation remains steadfast in our commitment to delivering high-value services and solutions to our global customers. We will go ‘all-in’ on our rapidly growing sectors like AI, Automotive, Healthcare, BFSI, Renewable Energy and Semiconductor. At the same time, we will continue to accelerate initiatives in Digital and Green Transformation across the Corporation,” said FPT EVP and FPT Software CEO Pham Minh Tuan.
In the first quarter of 2024, FPT recorded revenue and profit before tax year-on-year growths of 20.6% and 19.5%, respectively. Looking forward, it aims for increases of 17.5% in revenue and 18.2% in profit before tax for 2024. By 2030, FPT aims to achieve 5 billion USD in revenue from IT services for the global market, solidifying its stature as a world-class technology solutions provider.
Gartner, Market Share: Services, Worldwide, 2023, 12 April 2024
GARTNER is a registered trademark and service mark of Gartner, Inc. and/or its affiliates in the U.S. and internationally and is used herein with permission. All rights reserved. Gartner does not endorse any vendor, product or service depicted in its research publications, and does not advise technology users to select only those vendors with the highest ratings or other designation. Gartner research publications consist of the opinions of Gartner’s research organization and should not be construed as statements of fact. Gartner disclaims all warranties, expressed or implied, with respect to this research, including any warranties of merchantability or fitness for a particular purpose.
About FPT Corporation
FPT Corporation (FPT) is a globally leading technology and IT services provider headquartered in Vietnam. FPT operates in three core sectors: Technology, Telecommunications, and Education. During over three decades of development, FPT has constantly provided practical and effective products to millions of people and tens of thousands of business and non-business organizations worldwide, establishing Vietnam’s position on the global tech map. Keeping up with the latest market trends and emerging technologies, FPT has developed the Made-by-FPT ecosystem of services, products, solutions, and platforms, which enables sustainable growth for organizations and businesses and offers distinctive experiences to customers. In 2023, FPT recorded a total revenue of USD 2.17 billion and 48,000+ employees. For more information, please visit https://fpt.com/en.
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Mai Duong (Ms.)
FPT Software
PR Manager
MCP.PR@fpt.com
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