Increasing demand for cloud computing services, commercialization of 5G and increasing investment in the data center solutions are expected to drive the growth of Vietnam Data Center Market.
According to TechSci Research report, “Vietnam Data Center Market, By Solution (IT Infrastructure, General Infrastructure, Electrical Infrastructure, Mechanical Infrastructure and Other Infrastructure), By Type (Corporate and Web Hosting), By End User Industry (IT & Telecom, Government, BFSI, Healthcare and Others), By Region, Competition Forecast & Opportunities, 2016-2026”, the Vietnam Data Center Market is forecast to grow at a rate of 14.64% to reach USD2020.98 million by 2026. Growth in the market can be attributed to the consistently increasing data storage needs in Vietnamese organizations. To meet the endless demand for digital content, companies need to expand their data centers’ infrastructure. Additionally, the cloud industry is witnessing growth in Vietnam, due to large investments from global cloud computing service providers such as Google, AWS, and Alibaba. The development of a large number of data centers in the country aims to meet the inevitable rise of Artificial Intelligence (AI), big data, IoT related technologies in Industry 4.0. Moreover, the commercialization of 5G will further improve the development of such technologies and therefore increase the demand for data centers in Vietnam.
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The Vietnam Data Center Market is segmented based on solution, type, end user industry, company and region. Based on type, the market can be segregated into Corporate and Web Hosting. Out of these, corporate segment registered a dominant market share in 2020 owing to the growing demand for data storage solutions among corporates.
Based on Solution offered, the market is segmented into IT Infrastructure, General Infrastructure, Electrical Infrastructure, Mechanical Infrastructure and Other Infrastructure. IT Infrastructure dominated the Vietnam Data Center Market in 2020 due to the increasing inclination for Information and Communications Technology (ICT) development and application across the country. IT infrastructure provides smart connections for air control, water, garbage, meteorology and energy agencies. It also offers earthquake and tsunami warnings along with the data on flooding, erosion, sewage management and food safety. IT Infrastructure manages better performance as it assesses unique changing needs and makes strategic changes as a response. IT infrastructure can ensure a positive experience for employees in an organization. Experiencing consistent up time and high-performing technology translates directly into an increase in productivity and positive user-experience. Furthermore, active IT infrastructure management guarantees that the systems are running at maximum performance levels for longer than a system without proper management.
Based on End User Industry, the market is segmented into IT & Telecom, Government, BFSI, Healthcare and Others. IT & Telecom dominates the end user segment due to the growing urban population with escalating adoption of mobile phones that supports 3G, 4G and 5G services across the country. Furthermore, Ho Chi Minh City is set to become the first smart city in Vietnam that mainly focuses on cloud computing infrastructure, big data, data warehouses & data centers & security-monitoring centers and development of an open data ecosystem which is driving the Vietnam Data Center Market.
Northern Vietnam region dominates the Vietnam Data Center Market with a share of 46.15% in 2020 and is expected to dominate the market in the forecast period. The largest Data Center market in Vietnam is in Hanoi that has a connectivity ecosystem made up of 10 colocation data centers, 52 cloud service providers and 10 network fabrics.
FPT Corporation, Viettel-CHT Ltd. Co., 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 etc. are among the leading players operating in the Vietnam Data Center Market. Companies operating in the market are using organic strategies, partnerships and collaborations to boost their shares in the Vietnam Data Center Market. Significant players in the market are concentrating on accomplishing ideal operational expenses, upgrading the system efficiency, enhancing precision in responses, boosting productivity with high funding in R&D, and merging with small players to support the competitive Vietnam Data Center Market.
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“Increasing demand for data storage & management, adoption of cloud services by the government and the commercialization of 5G services in the country are anticipated to drive the Vietnam Data Center Market through 2026. Moreover, development of technologies such as cloud computing, Internet of Things (IoT) and data analytics services in the country are propelling the growth of the market in the country. Furthermore, different policies like bring your own device, law on cybersecurity and data localization will positively influence the Vietnam Data Center Market.” said Mr. Karan Chechi, Research Director with TechSci Research, a research-based global management consulting firm.
“Vietnam Data Center Market, By Solution (IT Infrastructure, General Infrastructure, Electrical Infrastructure, Mechanical Infrastructure and Other Infrastructure), By Type (Corporate and Web Hosting), By End User Industry (IT & Telecom, Government, BFSI, Healthcare and Others), By Region, Competition Forecast & Opportunities, 2016-2026” has evaluated the future growth potential of Data Centers in the Vietnam 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 Vietnam Data Center Market.”
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