Vietnam Telecom Market to Gain from Rising Need for Smart Grids

The increasing need for high-speed connectivity services and rising investments in 5G infrastructure are likely to boost the Vietnam Telecom Market during the forecast period.

According to the TechSci Research report, “Vietnam Telecom Market - By Region, Competition, Forecast & Opportunities, 2028,” the rising population and the high adoption of mobile phone services are boosting the telecom market in Vietnam. The rise in initiatives taken by the government to boost the digital economy and bring the fourth industrial revolution to the country is expected to propel the market as well.

Customers' rising demand for high-speed connectivity services and the increasing investment in the construction of 5G infrastructure both contribute to the telecom market's expansion in Vietnam. For example, in 2022, Viettel and Samsung Electronics worked together to launch 5G commercial testing in Da Nang, Vietnam. Customers will be able to access high-performance and cutting-edge 5G services, thanks to the agreement. Government networks will be upgraded to 5G from 3G and 4G. The government intends to create a network infrastructure to offer clients high-speed connectivity services as part of its National Digital Transformation Program. For instance, the 6G wireless communications technologies are where the Ministry of Information and Communications (MIC) of Vietnam wants to concentrate its efforts.

The Vietnamese telecom market has extended because of growing cell phone administration reception, further developed correspondence administrations, and the developing populace. Regulating bodies, which are crucial to the country's 5G network adoption, would encourage the rise even more. The government has ambitious plans to upgrade its network coverage from 3G and 4G to 5G. For example, the Service of Data and Correspondences (MIC) guaranteed finishing to finish the establishment of 5G stations with download and transfer paces of 900 Mbps and 60 Mbps utilizing open radio access organization (ORAN) innovation. The top OTT streaming service in rural Vietnam was YouTube, with a 40% market share, according to the GroupM Vietnam survey. The regional platform FPT Play was the second-most popular OTT service, used by 27% of respondents. This suggests that Pay-Tv service revenue is expected to decrease over the next five years as a result of a gradual decline in DTH subscribers and the emergence of competition from OTT service providers.

Browse over XX market data Figures spread through 70 Pages and an in-depth TOC on the “Vietnam Telecom Market.”

The Vietnam telecom market is segmented by type, service type, equipment, deployment, application, and region. Based on type, the market is segmented into wireless telecommunication carriers, wired telecommunication carriers, communication hardware, satellite, and telecommunication resellers. Based on service type, the market is segmented into managed data centers, managed network services, managed data & information services, managed mobility services, managed communications services, and managed security services. Based on equipment, the market is segmented into networking equipment, transmitting devices, and end-point devices. Based on deployment, the market is segmented into on-premises and cloud. Based on application, the market is segmented into household and commercial.

The demand for over-the-top (OTT) services will rise considerably as more people subscribe to mobile devices. As an illustration, DatVietVAC introduces VieON (video-on-demand and television service) in Vietnam. Customers can access on-demand video services from international OTT platforms, such as Netflix and Amazon Prime, which opens up fresh growth prospects for the Vietnam OTT services market. Service providers are increasingly focusing on research and development processes to boost market growth. To meet evolving customer demand concerning better efficiency and durability, several Telecom service providers are coming up with technologically advanced offerings.

Key market players in the Vietnam Telecom Market include:

• 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

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“Upcoming plans for developing smart cities, start-ups, and the National Innovation Network Program, using advanced technologies, such as the IoT, are expected to contribute significantly to the Vietnam telecom market. The development of smart cities in Vietnam, such as Dragon Smart City in the central coastal city of Da Nang, BRG Smart City in Hanoi, and Ecopark Smart City in the northern province of Hung Yen, with increased convenience, safety, and availability of integrated services to residents is expected to propel the country’s economy. The government is encouraging foreign investments to upgrade the 5G network and provide equipment and infrastructure for value-added services. Foreign exporters are also encouraged to partner with established network operators to offer 3G,4G, and 5G internet services,” said Mr. Karan Chechi, Research Director at TechSci Research, a research-based global management consulting firm.

Vietnam Telecom Market –By Type (Wireless Telecommunication Carriers, Wired Telecommunication Carriers, Communication Hardware, Satellite, Telecommunication Resellers), By Service Type (Managed Data Centre, Managed Network Services, Managed Data & Information Services, Managed Mobility Services, Managed Communications Services, 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, 2028 has evaluated the future growth potential of Vietnam Telecom Market and provides statistics and information on market structure, size, share, and future growth. The report is intended 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 present in the Vietnam Telecom Market.

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