Vietnam Telecom Market: Current Analysis and Forecast (2023-2030)

Emphasis on Service type (Mobile Data Services, And Machine-To-Machine Services); Transmission (Wireline, And Wireless); End-Users (Retail & Ecommerce, IT & ITES, Aerospace, Healthcare & Pharmaceutical, And Others) And Region/Country.

Geography:

Vietnam

Industry:

Telecom & IT

Last updated:

Dec 2023

Vietnam Telecom Market
Vietnam Telecom Market

The Vietnam Telecom Market was valued at 6.3 billion in 2022 and is expected to grow at a steady rate of around 4.4% in the forecasted period (2023-2030). The term “telecom” refers to the transmission of data, voice, text messages, audio, video, and other types of communication over significant distances through various electronic means such as wired, wireless, satellite, fiber optic cables, and so forth. In simpler terms, it involves providing communications services like phone calls, internet access, messaging (texting), television broadcasts, etc., across large geographic areas using a complex network infrastructure that spans from one point to another. Vietnam has experienced rapid growth in its telecommunications sector in recent years, driven by increasing demand for mobile data services and government support for digital transformation. Moreover, government initiatives such as the “Digital Transformation Program” have encouraged investment in IT infrastructure including Telecoms among others.


Some of the major players operating in the market VIETTEL; VNPT Vinaphone; MobiFone.; FPT Telecom JSC.; G-Mobile LLC; Vietnamobile; VNG Corporation; CMC Telecom; SCTV; VCTC Corporation.


Insights Presented in the Report


“Among service type, the mobile data services segment is currently the leading segment of the market during forecast period.”


Based on service type, the market is bifurcated into mobile data services, and machine-to-machine services. Among these, mobile data services currently lead the market due to surging demand for high-speed internet connectivity. With an estimated 70% of the population owning smartphones, there is a strong need for reliable and affordable mobile data plans. Moreover, the COVID-19 pandemic has accelerated this trend as people stay at home and rely more on online platforms for entertainment, education, and work.


Among end-users, the retail and e-commerce segment is holding a significant share of the market during the forecast period.”


Based on end-users, the market is segmented into retail & ecommerce, IT & ITES, aerospace, healthcare & pharmaceutical, and others. Among these, the retail and e-commerce segment currently lead the market due to the growth of online shopping. Also, digital payments have fueled demand for reliable and fast connectivity, driving revenue for telcos catering to these sectors. Additionally, the COVID-19 pandemic has accelerated this shift towards online purchases, further boosting the segment’s performance.


Vietnam Telecom Market Report Coverage


Vietnam Telecom Market
Vietnam Telecom Market

“Regional share of the market.”


Vietnam’s telecommunications sector has experienced remarkable growth in recent years, driven by increasing demand for advanced mobile data services and supportive government policies. The three major mobile network operators – Viettel, VNPT, and MobiFone – have invested heavily in infrastructure development and network modernization to meet rising customer needs. Additionally, foreign investors such as Japan’s Sumitomo Corporation and Singapore-based Singtel have entered the market through strategic partnerships with local providers. As a result, international companies like Nokia, Ericsson, and Huawei have established themselves in the region, contributing to innovation and competition. Furthermore, the government has actively promoted initiatives like “Smart Nation” and “Digital Economy,” aimed at transforming Vietnam into a connected society powered by technology. This push has led to significant investments in high-speed internet networks, cloud computing platforms, and other digital technologies. With ongoing advancements in digital technologies and supportive regulatory frameworks, the Vietnamese telecom industry is poised for continued success in the coming years.


Reasons to buy this report:



  • The study includes market sizing and forecasting analysis validated by authenticated key industry experts.

  • The report presents a quick review of overall industry performance at one glance.

  • The report covers an in-depth analysis of prominent industry peers with a primary focus on key business financials, product portfolio, expansion strategies, and recent developments.

  • Detailed examination of drivers, restraints, key trends, and opportunities prevailing in the industry.

  • The study comprehensively covers the market across different segments.

  • Deep dive regional level analysis of the industry.


Customization Options:


The Vietnam Telecom Market can further be customized as per the requirement or any other market segment. Besides this, UMI understands that you may have your own business needs, hence feel free to contact us to get a report that completely suits your requirements.



Table of Contents

Research Methodology for the Vietnam Telecom Market Analysis (2023-2030)


Analyzing the historical market, estimating the current market, and forecasting the future market of the Vietnam Telecom market were the three major steps undertaken to create and analyze the adoption of visual collaboration platform solutions in major regions geographically. Exhaustive secondary research was conducted to collect the historical market numbers and estimate the current market size. Secondly, to validate these insights, numerous findings and assumptions were taken into consideration. Moreover, exhaustive primary interviews were also conducted, with industry experts across the value chain of the Vietnam Telecom market. Post assumption and validation of market numbers through primary interviews, we employed a top-down/bottom-up approach to forecasting the complete market size. Thereafter, market breakdown and data triangulation methods were adopted to estimate and analyze the market size of segments and sub-segments of the industry pertains to. Detailed methodology is explained below:


Analysis of Historical Market Size


Step 1: In-Depth Study of Secondary Sources:


Detail secondary study was conducted to obtain the historical market size of the Vietnam Telecom market through company internal sources such as annual reports & financial statements, performance presentations, press releases, etc., and external sources including journals, news & articles, government publications, competitor publications, sector reports, third-party database, and other credible publications.


Step 2: Market Segmentation:


After obtaining the historical market size of the Vietnam Telecom market, we conducted a detailed secondary analysis to gather historical market insights and share for different segments & sub-segments for major regions. Major segments are included in the report as service type, transmission, and end-users. Further country-level analyses were conducted to evaluate the overall adoption of testing models in that region.


Step 3: Factor Analysis:


After acquiring the historical market size of different segments and sub-segments, we conducted a detailed factor analysis to estimate the current market size of the Vietnam Telecom Market. Further, we conducted factor analysis using dependent and independent variables such as various service type, transmission, and end-users of visual collaboration platform solutions. A thorough analysis was conducted of demand and supply-side scenarios considering top partnerships, mergers and acquisitions, business expansion, and product launches in the Vietnam Telecom Market sector across the globe.


Current Market Size Estimate & Forecast


Current Market Sizing: Based on actionable insights from the above 3 steps, we arrived at the current market size, key players in the Vietnam Telecom Market, and market shares of the segments. All the required percentage shares split, and market breakdowns were determined using the above-mentioned secondary approach and were verified through primary interviews.


Estimation & Forecasting: For market estimation and forecast, weights were assigned to different factors including drivers & trends, restraints, and opportunities available for the stakeholders. After analyzing these factors, relevant forecasting techniques i.e., the top-down/bottom-up approach were applied to arrive at the market forecast for 2030 for different segments and sub-segments across the major markets. The research methodology adopted to estimate the market size encompasses:



  • The industry’s market size, in terms of revenue (USD) and the adoption rate of the Vietnam Telecom Market across the major markets domestically

  • All percentage shares, splits, and breakdowns of market segments and sub-segments

  • Key players in the Vietnam Telecom Market in terms of products offered. Also, the growth strategies adopted by these players to compete in the fast-growing market.


Market Size and Share Validation


Primary Research: In-depth interviews were conducted with the Key Opinion Leaders (KOLs) including Top Level Executives (CXO/VPs, Sales Head, Marketing Head, Operational Head, Regional Head, Country Head, etc.) across major regions. Primary research findings were then summarized, and statistical analysis was performed to prove the stated hypothesis. Inputs from primary research were consolidated with secondary findings, hence turning information into actionable insights.


Split of Primary Participants in Different Regions


Vietnam Telecom Market
Vietnam Telecom Market

Market Engineering


The data triangulation technique was employed to complete the overall market estimation and to arrive at precise statistical numbers for each segment and sub-segment of the Vietnam Telecom Market. Data was split into several segments & sub-segments post studying various parameters and trends in the areas of service type, transmission, and end-users in the Vietnam Telecom Market.


The main objective of the Vietnam Telecom Market Study


The current & future market trends of the Vietnam Telecom Market were pinpointed in the study. Investors can gain strategic insights to base their discretion for investments on the qualitative and quantitative analysis performed in the study. Current and future market trends determined the overall attractiveness of the market at a regional level, providing a platform for the industrial participant to exploit the untapped market to benefit from a first-mover advantage. Other quantitative goals of the studies include:



  • Analyze the current and forecast market size of the Vietnam Telecom Market in terms of value (USD). Also, analyze the current and forecast market size of different segments and sub-segments.

  • Segments in the study include areas of service type, transmission, and end-users.

  • Define and analysis of the regulatory framework for the visual collaboration platform solutions industry.

  • Analyze the value chain involved with the presence of various intermediaries, along with analyzing customer and competitor behaviors of the industry.

  • Analyze the current and forecast market size of the Vietnam Telecom Market for the major region.

  • Major countries of regions studied in the report include Asia Pacific, Europe, North America, and the Rest of the World.

  • Company profile of the Vietnam Telecom Market and the growth strategies adopted by the market players to sustain in the fast-growing market.

  • Deep dive regional level analysis of the industry



Frequently Asked Questions FAQs

Q1: What is the current market size and growth potential of the Vietnam Telecom Market?

Q2: What are the driving factors for the growth of the Vietnam Telecom Market?

Q3: Which segment has the largest share of the Vietnam Telecom Market by transmission?

Q5: Who are the key players operating in the Vietnam Telecom Market?

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