Vietnam cloud service market is projected to grow from $ 181 million in 2019 to $ 427 million by 2025, exhibiting a healthy CAGR of over 15% during 2020 - 2025. Growth in the market is led by surging adoption of cloud services such as Infrastructure-as-a-Service, Software-as-a-Services, etc., and growing number of small & medium-sized enterprises. Moreover, cloud is cost-efficient as users are not required to install any hardware or software. Additionally, enterprise mobility along with rising need for data storage is further anticipated to drive Vietnam cloud service market in the coming years.
Vietnam cloud service market is segmented based on service type, type, end use application, and region. Based on service type, the market can be categorized into Infrastructure-as-a-Service, Platform-as-a-Service & Software-as-a-Service.
Infrastructure-as a service segment dominates Vietnam cloud service market as Infrastructure-as-a-service involves various solutions such as servers, storage, networking, virtualization, etc., which saves IT staff time as numerous users can work on a single piece of hardware anywhere and anytime. However, Software-as-a-Service is expected to grow at the fastest CAGR during forecast period as it helps companies in lowering up-front cost, since it is subscription-based and has no up-front license fees resulting in lower initial costs. Among end use applications, corporates/private organizations account for the majority share in Vietnam cloud service market owing to the low costs of cloud services, as well as open and transparent costs policy, which is attracting corporates/private organizations towards cloud services.
Major players operating in the Vietnam cloud service market include FPT Corporation, Viettel-CHT Limited Company, CMC Corporation, IBM Vietnam Company, Microsoft Vietnam, Amazon Web Services Vietnam Company Limited, Mat Bao Corporation, NTC Cloud Computing Company Limited, SAP Asia (Vietnam) Co. Ltd., HPT Vietnam Corporation, Google LLC and Salesforce.com, Inc.
Years considered for this report:
Historical Years: 2015-2018
Base Year: 2019
Estimated Year: 2020
Forecast Period: 2021–2025
Objective of the Study:
- To define, segment, describe and forecast Vietnam cloud service market on the basis of service type, type, end use application, region and company.
- To analyze and forecast Vietnam cloud service market size.
- To scrutinize the detailed market segmentation and forecast the market size on the basis of segmenting Vietnam cloud service market into end use applications, namely, Corporates/Private Organizations, BFSI, Government & Defense, Retail, Healthcare, Academic & Education Institutions, and Others.
- To identify the drivers and challenges for Vietnam cloud service market.
- To analyze and forecast the market size for Vietnam cloud service market with respect to service type, type, end use application, region and company.
- To strategically profile leading players in the market which are driving the innovation and technological advancements in Vietnam cloud service market.
TechSci Research performed both primary as well as exhaustive secondary research for this study. Initially, TechSci Research sourced a list of cloud service providers in Vietnam. Subsequently, TechSci Research conducted primary research surveys with the identified companies. While interviewing, the respondents were also enquired about their competitors. TechSci Research further analyzed the cloud service or variants of major cloud service providers.
TechSci Research calculated the market size for Vietnam cloud service market using a bottom-up approach, wherein data for different components for standard application was recorded and forecast for the future years. TechSci Research sourced these values from industry experts and company representatives, and these were externally validated through analyzing historical data of Vietnam cloud service market to arrive at the overall market size. Various secondary sources such as secondary company websites, company annual reports, press releases, white papers, investor presentations and financial reports were also studied by TechSci Research.
Key Target Audience:
- Vietnam cloud service providers and other stakeholders
- Associations, organizations and alliances related to cloud service
- Government bodies such as regulating authorities and policy makers
- Market research and consulting firms
The study is useful in providing answers to several critical questions that are important for industry stakeholders such as cloud service providers, companies, customers and policy makers, about the targeted market segments in coming years in order to strategize investments and capitalize on the growth of market segment.
In this report, Vietnam cloud service market has been segmented into the following categories in addition to the industry trends, which have also been detailed below:
- Market, by Service Type:
- Market, by Type:
o Public Cloud
o Private Cloud
o Hybrid Cloud
- Market, by End Use Application:
o Corporates/Private Organizations
o Government & Defense
o Academic & Education Institutions
- Market, by Region:
o Northern Vietnam
o Southern Vietnam
o Central Vietnam
Company Profiles: Detailed analysis of the major companies providing cloud service providers.
With the given market data, TechSci Research offers customization according to a company’s specific needs. The following customization options are available for the report:
- Detailed analysis and profiling of additional market players (up to five)