The Vietnamese Cloud Service Market stood at USD 196.11 million in 2020 and is forecast to grow at a CAGR of over 18.88% until 2026
The growth in the Vietnamese Cloud Service Market is driven by accelerating digital transformation all across the country. The cloud service is an internet-based service which has a wide range of services delivered on demand to companies and customers over the internet. Cloud services are fully managed by cloud computing vendors and service providers.
They're made available to customers from the servers of the providers to eliminate the need for an organization to host the applications on its own on-premise servers. These services are designed to provide easy, affordable access to applications and resources, without the need for internal infrastructure or hardware. The extensive use of cloud computing in various sectors including private organizations, government, retail, healthcare, education, among others is anticipated to act as a catalyst in the growth of the Vietnamese Cloud Service Market.
Based on service type, the market can be segmented into Infrastructure as a Service, Platform as a Service and Software as a Service. Infrastructure as a Service dominated the market in 2020 with a market share of 41.74% owing to its high scalability, cost-effectiveness, pay-on-demand for utilities, location independence, redundancy and the security of the user's data. With strong reliability on Infrastructure as a Service, the infrastructure of the organization does not get affected if the Internet fails or if any hardware component fails.
Based on type, the market can be divided into Public Cloud, Private Cloud and Hybrid Cloud. The Public Cloud segment dominated the market in 2020 with a market share of 65.44% owing to its lower costs, no maintenance and near-unlimited scalability with on demand resources.
But the Hybrid Cloud is the fastest growing segment and is forecast to grow at the swiftest pace until 2026. The growth of the hybrid cloud is due to its better support for a remote workforce and improved security and risk management along with the accessibility of multiple vendors and platforms by a single user.
On the basis of end-use application, Corporates/Private Organizations dominated the Vietnamese Cloud Service Market with the market share of 41.14% in 2020. This growth is due to the growing need for security and safety of the official data of various organizations across the country.
On the basis of region, Northern Vietnam dominated the Vietnam Cloud Service Market with a market share of 44.92% in 2020 owing to its accelerated urbanization and digital transformation.
Major companies are developing advanced technologies and launching new service plans to stay competitive in the market. Other competitive strategies include mergers & acquisitions and development of new innovative services.
Some of the major players operating in the Vietnam Cloud Service Market include
Viettel-CHT Ltd Co
IBM Vietnam Company Ltd
Microsoft Vietnam Limited Liability Company
Amazon Web Services Vietnam Company Limited
Mat Bao Corporation
NTC Cloud Computing Company Limited
SAP Vietnam Co Ltd
HPT Vietnam Corporation
Years considered for this report:
Historical Years: 2016-2019
Base Year: 2020
Estimated Year: 2021
Forecast Period: 2022-2026
Vietnam Cloud Service Market, By Service Type:
Infrastructure as a Service
Platform as a Service
Software as a Service
Vietnam Cloud Service Market, By Type:
Vietnam Cloud Service Market, By End-Use Application:
Government & Defense
Academic & Education Institutions
Vietnam Cloud Service Market, By Region:
Company Profiles: Detailed analysis of the major companies present in the Vietnamese Cloud Service Market.