Giggs is experiencing his first season in a coaching capacity.
Ferguson said: "Ryan could definitely be a manager because he is so wise and players invariably respect him.
"His quietness would not be a barrier. There are plenty of non-vocal managers.
"But your character must be strong. To deal with a club like Man Utd, your personality has to be bigger than those of the players.
"Or you have to believe it is to control the whole picture. You have big players, rich players, world famous players and you have to rule over them, be on top of them.
"There's only one boss of Man Utd and that's the manager. Ryan would need to cultivate that side of himself, but so did I from 32 years of age."
For the big stories and the banter follow us on Twitter: @tribalfootball