Vietnam Data Center Market to Grow At CAGR of 14.64% over the Forecast Period
Increasing adoption of cloud-based
technologies and growing demand of data across various segments are expected to
drive Vietnam data center market
According
to TechSci Research report, “Vietnam
Data Center Market By Solution (IT Infrastructure, Electrical
Infrastructure, Mechanical Infrastructure, General Infrastructure and Others),
By Type (Corporate and Web Hosting), By End User Industry (IT & Telecom,
BFSI, Healthcare, Government and Others), By Region, Forecast &
Opportunities, 2025”, Vietnam data center market stood
at USD 728.48 Million in 2019 and is forecast to reach USD 1,641.04 Million by
2025 growing at a compound annual growth rate (CAGR) of 14.64% on account of growing
demand for analytics in the country. With enhanced internet connectivity, IP
traffic is growing at an exponential rate which is expected to boost the data
center market of Vietnam. Digital transformation of Vietnam has generated the
need for electronic devices which in turn is driving the data center market. In
addition, research and development in the field of cloud computing and internet
of things coupled with growing demand for inter-connected devices, Vietnam data
center market is anticipated to witness significant growth in the next five
year.
However,
the higher cost of installation of devices and deployment of data centers might
hinder the growth of the data center market in Vietnam. Also, high energy
consumption associated with data center as well as regular maintenance of data
center could negatively influence the data center market growth.
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Vietnam Data
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Vietnam data center market is segmented based on solution, type, end
user industry, region, and company. Based on end user industry, the market can
be fragmented into IT & telecom, BFSI, healthcare, government, and others. Out
of these, IT & telecom segment is expected to dominate the market through
2025. This can be ascribed to the enormous data being generated across this
industry. Hence, the industry requires data centers to regulate the operations
and bring down the overall operational costs.
FPT Corporation, Viettel - CHT Company Limited, Vietnam Posts and
Telecommunications Group, KDDI Corporation, Hitachi Asia (Vietnam) Co. Ltd.,
Hewlett Packard Enterprise, SAP Vietnam Co. Ltd., IBM Vietnam Company Ltd.,
Microsoft Vietnam Limited Liability Company and Amazon Web Services Vietnam are
some of the leading players operating in Vietnam data center market. The
companies operating in the market are using strategies such as product
launches, mergers and collaborations to boost their share. For instance, FPT Corporation
has started working on Vietnam’s largest data center in Ho Chi Minh city in May
2020. The data center will cover 10,000 sq meter which will provide space for
around 3,600 racks which is expected to complete in first quarter of 2021.
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“Vietnam
data center market is expected to witness significant growth in the market
owing to the improving IT infrastructure in the country. Additionally,
implementation of green and sustainable data centers is further expected to
create lucrative opportunities for the market growth through 2025. Expansion of
data center market key players operating are expected to propel the market
growth during the forecast period” said Mr. Karan Chechi, Research Director
with TechSci Research, a research based global management consulting firm.
“Vietnam Data Center Market By Solution (IT
Infrastructure, Electrical Infrastructure, Mechanical Infrastructure, General
Infrastructure and Others), By Type (Corporate and Web Hosting), By End User
Industry (IT & Telecom, BFSI, Healthcare, Government and Others), By
Region, Forecast & Opportunities, 2025,” has evaluated the future growth potential of Vietnam data
center market and provides statistics & information on market size,
structure and future market growth. The report intends to provide cutting-edge
market intelligence and help decision makers take sound investment decisions.
Besides, the report also identifies and analyzes the emerging trends along with
essential drivers, challenges and opportunities in Vietnam data center market.
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