The “Vietnam Cloud Services Market” report by RationalStat provides a detailed analysis of the market, including historical and forecast market size, trends analysis, and competition assessment. The Vietnam cloud services market is experiencing steady growth, driven by digital transformation and the adoption of cloud-based solutions. The report highlights the strategic imperatives, growth opportunities, and competition analysis for companies operating in this market.
VIETNAM, 30 Jun 2023 – RationalStat, a leading market research firm, has released a comprehensive report titled “Vietnam Cloud Services Market” that provides deep insights into the local and regional markets. The report analyzes the market dynamics, historical and forecast market size, and competition analysis, highlighting the strategic imperatives and growth opportunities for companies operating in the Vietnam cloud services market.
Vietnam’s cloud services market has witnessed steady growth in recent years, driven by the increasing adoption of cloud-based solutions by businesses and organizations. According to the report, the Vietnam cloud services market is projected to grow at a CAGR of around 25% between 2022 and 2028, fueled by the rapid digital transformation across the country.
The market expansion is further supported by the presence of both domestic and foreign companies offering a wide range of cloud services. The report emphasizes the efforts of public and government stakeholders in establishing the necessary infrastructure to accelerate the adoption of cloud-based services in Vietnam.
The COVID-19 pandemic has also played a significant role in boosting the market’s growth, with cloud computing experiencing nearly 40% growth during this period. The government, industry players, and major users are actively promoting digital solutions, driving the demand for cloud computing across the region.
Key findings from the report include:
- Software-as-a-Service (SaaS) is expected to be the fastest-growing service type during the forecast period.
- The enterprise segment holds the largest market share in 2021, driven by the acceptance of cloud-based services by SMEs and large corporations.
- Northern Vietnam is expected to witness significant expansion due to rapid urbanization and digital transformation.
The Vietnam cloud services market, valued at over US$240 million in 2021, is projected to reach US$1,200 million by the end of 2028. International players such as Google, Amazon, IBM, SAP, Salesforce, and Oracle dominate the market with a significant market share, while domestic players also contribute to the market’s growth.
Leading industry players are making substantial investments to gain a competitive edge and increase their market share. Recent partnerships and collaborations, such as VIB Bank and Microsoft Vietnam, Vietinbank and Amazon Web Services (AWS), and Techcombank and AWS, demonstrate the commitment of key players to leverage cloud computing services.
For more information and to access the full report, please visit the RationalStat website at https://store.rationalstat.com/store/vietnam-cloud-service-market-investment-growth-opportunity-analysis/.
