Vietnam Telecom Market to grow at a Significant Rate through 2026
Growing trend of
digitalization and technological advancements is expected to drive the demand
for Vietnam Telecom market in the forecast period.
According to TechSci Research report, “Vietnam Telecom Market By Type (Wireless Telecommunication Carriers, Wired
Telecommunication Carriers, Communication Hardware, Satellite and
Telecommunication Resellers), By Service Type (Managed Data Centre, Managed
Network Services, Managed Data & Information Services, Managed Mobility
Services, Managed Communications Services and Managed Security Services), By
Equipment (Networking Equipment, Transmitting Device, End Point Device), By
Deployment (On-Premises, Cloud), ,By Application (Household, Commercial), By
Region, Competition Forecast & Opportunities, 2026”, the Vietnam
Telecom market is expected to grow at a steady CAGR in the forecast period,
2022-2026. The growing demand for smart grid, telemedicine, industrial automation,
and connected cars due to advanced technologies is expected to create huge
potential for the Vietnam Telecom market growth. The growing population and the
high adoption of mobile phone services are fueling the development of the Telecom
market. The rise in the initiatives taken by the government to boost the
digital economy and bring the fourth industrial revolution in the country is
expected to propel the Telecom market. The upcoming plans for developing smart
cities, start-ups, and the National Innovation Network Program using advanced
technologies such as the internet of things are expected to contribute to the
Vietnam Telecom market growth. Development of smart cities in Vietnam such as
Dragon Smart City in the central coastal city of Da Nang, BRG Smart City in
Hanoi, Ecopark Smart City in the northern province of Hung Yen boasting of
increased convenience, safety, and availability of integrated services to
residents is expected to fuel the economy of the country. The government is
encouraging foreign investments to upgrade the 5G network and provide equipment
and infrastructure for the value-added services. Foreign exporters are also
encouraged to partner with established network operators to offer 3G,4G, and 5G
internet services. Market players are indulging in the development of wireless
technology and alternative broadband technologies. Leading authorities aim to
provide an e-governance platform to its residents to efficiently serve
citizens' and enterprises' needs. The growing awareness among the consumers of
the benefits of using digital technology and the increase in transparency in
government work is contributing to the surge in the growth of the Telecom
market in the country.
However,
dependence on foreign investment and technology and lack of presence of skilled
workforce may restrain the growth of the Vietnam Telecom market for the
forecast period.
Browse XX Figures spread through 70 Pages and an
in-depth TOC on "Vietnam Telecom Market”.
https://www.techsciresearch.com/report/vietnam-telecom-market/7868.html
Vietnam Telecom market is segmented into type,
service type, equipment, deployment, application, regional distribution, and
company. Based on type, the market is divided into wireless Telecommunication
carriers, wired Telecommunication carriers, communication hardware, satellite,
and Telecommunication resellers. The wireless Telecommunication carriers
segment is expected to witness growth in the forecast period, 2022-2026. The
growing trend of adoption of wireless communication technologies such as Wi-Fi,
4G, and 5G networks is driving the growth of the segment as they are more
affordable and faster than their counterparts.
AT&T,
EVNTelecom, Viettel Group, Vietnam Mobile Telecom Services, Vinaphone, Vietnam
Posts and Telecommunications Group, GTel Mobile JSC, FPT Corporation,
NamVietNet Telecommunication Service Joint Stock Company, Saigon Post and
Telecommunications Services Corporation, SaoBacDau Technologies, NetNam, VMG
Media JSC, VTC Telecommunications JSC, METUB Network are the leading players
operating in Vietnam Telecom market. Service providers are increasingly
focusing on research and development process to fuel higher growth in the
market. To meet evolving customer demand with respect to better efficiency and
durability, several Telecom service providers are coming up with their
technologically advanced offerings.
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“The
change in customer preference to view Over-The-Top (OTT) channels which they
choose according to the price and number of viewing options provided by the
service providers. Most popular viewed OTT platforms such as Netflix, Amazon
Prime, FPT Play, On TV, and others allow subscribers to watch their favorite
shows according to their convenience. The growing expenditure capacity of the
customers and the influence of social media platforms along with super-fast
internet protocol networks, open-source platforms, and other innovations is
expected to propel the Vietnam Telecom market growth till 2026” said Mr. Karan
Chechi, Research Director with TechSci Research, a research-based global management
consulting firm.
“Vietnam Telecom Market
By Type (Wireless Telecommunication Carriers, Wired Telecommunication Carriers,
Communication Hardware, Satellite and Telecommunication Resellers), By Service
Type (Managed Data Centre, Managed Network Services, Managed Data &
Information Services, Managed Mobility Services, Managed Communications
Services and Managed Security Services), By Equipment (Networking Equipment,
Transmitting Device, End Point Device), By Deployment (On-Premises, Cloud), ,By
Application (Household, Commercial), By Region, Competition Forecast &
Opportunities, 2026” has evaluated the future growth potential of Vietnam Telecom
market and provided statistics & information on market size, shares, 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 the of Vietnam Telecom market.
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