FPT Corporation ranks among top global IT service companies

FPT Corporation, a prominent global IT services firm headquartered in Vietnam, has been ranked among Asia's top 50 and the world's top 150 IT services companies by revenue, according to Gartner's 2023 report. FPT achieved over USD $1 billion in revenue from global IT services, ascending to 44th place in Asia and 14th position globally in the rankings. The company's total revenue reached USD $2.17 billion, spurred by a 42% increase in digital transformation services and notable growth in the Japanese and Asia-Pacific markets.

Looking towards the future, FPT has set ambitious goals for 2024, aiming for a 17.5% rise in revenue and an 18.2% increase in profit. The long-term objective is to achieve USD $5 billion in IT services revenue by 2030, thereby fortifying its status as a preeminent global technology solutions provider.

The Gartner Market Share: Services, Worldwide, 2023 report highlights that FPT, as the first Vietnam-headquartered technology firm to reach these rankings, is dedicated to enhancing its global customer base and delivering comprehensive, end-to-end services and solutions. The firm saw its total revenue grow by 19.6%, with its core businesses spanning technology, telecommunications, education, and investment contributing significantly to this figure.

A major driver behind this growth is the escalating demand for digital transformation, one of FPT’s most sought-after services, which witnessed a 42% year-on-year revenue boost. The Japanese market alone saw over 52% growth in 2023, measured in Japanese Yen, followed closely by the Asia-Pacific region, which saw a 37.7% increase.

In 2023, FPT further extended its global reach by launching new offices in the Americas, Japan, Korea, China, and Indonesia. The company also engaged in strategic investments and acquisition deals with Landing AI, Intertec International, Cardinal Peak, and AOSIS. It reinforced partnerships with industry giants such as SAP, Microsoft, AWS, Salesforce, and Adobe. Additionally, it expanded its expertise in sectors such as cloud and data, ERP modernisation, healthcare, BFSI, energy, and software-defined vehicles (SDVs) through the establishment of FPT Automotive, an automotive technology subsidiary based in the United States.

Pham Minh Tuan, Executive Vice President of FPT and CEO of FPT Software emphasised the corporation’s commitment to delivering high-value services and solutions globally. "We will invest heavily in rapidly growing sectors like AI, Automotive, Healthcare, BFSI, Renewable Energy, and Semiconductor. Concurrently, we will continue to advance digital and green transformation initiatives across the corporation,” he stated.

In the first quarter of 2024, FPT reported year-on-year growth in revenue and profit before tax of 20.6% and 19.5%, respectively. The corporation is targeting revenue and profit before tax growths of 17.5% and 18.2% for the whole of 2024. By 2030, FPT seeks to attain USD $5 billion in IT services revenue, thereby solidifying its position as a leading global technology solutions provider.