Vietnam Internet of Things Market to Grow at 24.03% CAGR through 2025
Growing adoption of cloud computing &
smart devices and rising inclination towards artificial intelligence to drive
Vietnam Internet of Things market through 2025
According to TechSci Research report, “Vietnam Internet of Things Market By Platform (Network Management,
Application Management and Device Management), By Component (Hardware, Services
and Software), By Type (B2B, B2C, B2G), By Application (Consumer Electronics,
Smart Mobility & Transportation, Building & Home Automation, Connected Logistics,
Smart Retail, and Others), By Region (North Vietnam, Central Vietnam and South
Vietnam), Competition, Forecast &
Opportunities, 2015 – 2025”, Vietnam internet of things market stood at USD 2022.21
Million in 2019 and is projected to grow at a CAGR of around 24.03 % to reach USD
7321.92 Million by 2025. Increasing demand for technological advancements
coupled with rising internet penetration is boosting demand for connected
devices across Vietnam. The country possess good internet-connectivity and is
witnessing increasing penetration of smartphones. In Vietnam, 94% of the adult
population owns mobile phones. The rapid uptake of connected devices,
especially smartphones and tablets, coupled with abundant choices is driving
the adoption of Internet of Things in Vietnam.
Growing adoption of wearable
devices such as smartwatches, fitness bands, solar backpacks, connected
glucometers, etc., integrating IoT technology is a major factor driving the IoT
environment. Growing awareness about fitness is creating demand for IoT in
healthcare sector and is thus driving the growth of the country’s IoT market.
Browse 28 market data Figures and
Tables spread through 77 Pages and an in-depth TOC on"Vietnam Internet of Things Market"
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Based on platform, network management platform dominated the market
with share of 43.92% in 2019 and the trend is likely to continue through 2025
as Increasing adoption of IoT across different end user verticals in Vietnam is
resulting in rising need of platform management, especially for network related
issues. In order to meet the dynamically changing demand from end users,
network management is playing a crucial role in Vietnam IoT market and
registering significant growth in the market.
Some of the major players operating in Vietnam Internet of Things
market are FPT Corporation, Viettel-CHT
Limited (Viettel IDC), CMC Corporation, Vietnam Posts and Telecommunications
Group, KDDI Vietnam Corporation, Microsoft Services Asia, IBM Vietnam Co Ltd., Amazon
Web Services Vietnam Company Limited, Cisco Systems Vietnam Ltd, and Oracle
Vietnam Pte Ltd.
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“In
terms of application, smart manufacturing is the dominating segment in the
Vietnam Internet of things market as it allows factory managers to
automatically collect and analyze data and make better-informed decisions and
optimize their productions. Smart manufacturing accelerates productivity,
increases efficiency, minimizes downtime and provides a competitive edge to
businesses.”, said Mr. Karan Chechi, Research Director
with TechSci Research, a research based global management consulting firm.
“Vietnam Internet of Things Market By Platform (Network Management,
Application Management and Device Management), By Component (Hardware, Services
and Software), By Type (B2B, B2C, B2G), By Application (Consumer Electronics,
Smart Mobility & Transportation, Building & Home Automation, Connected Logistics,
Smart Retail, and Others), By Region (North Vietnam, Central Vietnam and South
Vietnam), Competition, Forecast &
Opportunities, 2015 – 2025” has evaluated the future
growth potential of Vietnam Internet of Things market and provides statistics
and information on market structure, size, share and trends. The report is
intended to provide cutting-edge market intelligence and help decision makers
to take sound investment decision. Besides, the report also identifies and
analyzes the emerging trends along with essential drivers, challenges and
opportunities present in Vietnam Internet of Things market.
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