Vietnam Cloud Services Market to be Driven by the Growing Adoption of Vertical Cloud Services by 2028
Accelerating digital transformation across the country is
driving the Vietnam Cloud Services market in the forecast period 2024- 2028.
According to
TechSci Research report, “Vietnam Cloud Services Market - By Region,
Competition, Forecast & Opportunities, 2028F”, the Vietnam Cloud Services Market
is expected to register robust growth during the forecast period 2024-2028. The Vietnam
Cloud Services Market is rising through the forecast period, owing to numerous government
funding and incentives for the emergence of Cloud Services by constructing legal
regulatory frameworks. It is due to the emergence of cloud-based technological
consortiums.
The cloud service is an
online platform that offers a variety of services that are made available to
businesses and clients on demand. Cloud computing vendors and service providers
are totally in charge of managing cloud services. The need for an organization
to host the applications on its own internal servers has been eliminated
because customers can access them from the providers' servers. These services
were developed to provide easy access to information and programs without
requiring a user's own hardware or infrastructure. It is projected that widespread adoption of
cloud computing in industries such as private businesses, government, retail,
healthcare, and education will fuel the expansion of the Vietnam Cloud Service
Market.
Large and medium-sized
businesses have been forced to embrace a culture of remote or home-based
working because of the pandemic. As a result, there are now more devices
connected to the organization's internal network, increasing the volume of
traffic that the software network of the business can handle. To serve the
increased number of employees working remotely with multiple devices,
businesses are gradually implementing cloud services and hybrid cloud services.
Additionally, a lot of IT firms in the nation are transforming into virtual
businesses so that their employees can work entirely from home. This is
expected to increase demand for cloud services in Vietnam Market.
Given that edge, computing is
a hybrid approach to cloud computing, it has become one of the most significant
drivers in the industry. It extends from the center of the enterprise computing
system to the edge of telco and other service provider networks, and from there
to user sites and sensor networks. Given that consistent platforms and
management are required for edge architectures to operate effectively, edge
contrasts dramatically with multi-cloud silos. During the projected period,
chances for the growth of the Vietnam cloud service market are anticipated because
of these factors.
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The Vietnam Cloud Services market is segmented into service type, type,
organization type, end-use, and region. Based on service type, the market is
segmented into Infrastructure as a Service, Software as a Service, and Platform
as a Service. Based on type, the market is divided into public cloud, private
cloud, and hybrid cloud. Based on organization type, the market is separated
into SMEs, large enterprises, and public administration. Based on end-use, the
market is segmented into banking, financial services & insurance (BFSI), healthcare,
retail & warehousing, manufacturing, IT & Telecom, media &
entertainment, public & government, and others. Also, the markets analysis
studies the regional segmentation to devise market segmentation, divided amongst
Northern Vietnam, Southern Vietnam, and Central Vietnam.
By type, hybrid cloud has the fastest rate of growth in the Vietnam
cloud service market by 2022. This is due to medium and large businesses'
growing propensity to use hybrid clouds to store data throughout the country. The cloud is a more effective storage option, offering a
special platform for data generation and cutting-edge ways to utilize the data
of every user or company. Organizations can adapt their business models and
processes in pursuit of their core strengths and business objectives without
sacrificing agility because of the deployment of hybrid clouds.
Key market
players in the Vietnam Cloud Services Market include:
- Amazon Web
Services, Inc.
- Cisco Systems, Inc.
- Infor Inc.
- International
Business Machines Corporation
- Microsoft
Corporation
- Oracle Corporation
- Salesforce.Com Inc
- SAP SE
- SolutionDots
Systems Ltd.
- VMware, Inc.
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“As the market is yet to mature, there is ample
opportunities for investors in the Vietnam Cloud Services Market. The region's
rapid urbanization and digital transformation are expected to make Northern
Vietnam the largest region in the Vietnam Cloud Service Market in 2022. There are many
corporates/private organizations, government and defense institutions in the
region. Moreover, the growing number of SMEs in the region is anticipated to
support the growth of Cloud Service Market in the region. The proportion of FDI
(Foreign Direct Investment) pouring into the region has increased over the last
decade. Apart from Hanoi, cities like Hai Phong, Bac Ninh, Hung Yen and Quang
Ninh have become focal point of investment for the government and enterprises.”
said Mr. Karan Chechi, Research Director with TechSci Research, a research
based global management consulting firm.
Vietnam Cloud Services Market By Service Type
(Infrastructure as a Service, Software as a Service and Platform as a Service),
By Type (Public Cloud, Private Cloud, and Hybrid Cloud), By Organization Type
(SMEs, Large Enterprises, Public Administration), By End-Use (Banking,
Financial Services & Insurance (BFSI), Healthcare, Retail &
Warehousing, Manufacturing, IT & Telecom, Media & Entertainment, Public
& Government, Others), By Region, Competition Forecast & Opportunities,
2028F has
assessed the Vietnam Cloud Services market's future development potential and
provides data and information on market size, structure, and projected market
growth. The report's goal is to give current market knowledge and assist
decision makers in making informed investment decisions. Furthermore, the study
identifies and analyses emerging trends, as well as key drivers, constraints,
and opportunities in the Vietnam Cloud Services market.
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