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Vietnam Data Center Storage Market Size (2024 - 2029)

The Vietnam Data Center Storage Market is experiencing growth driven by the increasing demand for cloud computing among small and medium-sized enterprises, government regulations for local data security, and rising investments from domestic players. This demand is contributing to the expansion of data center storage capacity in the country. The market's expansion is further supported by the development of IT load capacity, raised floor space, and the installation of racks, with significant infrastructure projects underway, including submarine cable systems to enhance connectivity.

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Market Size of Vietnam Data Center Storage Industry

Vietnam Data Center Storage Market Summary
Study Period 2018 - 2029
Base Year For Estimation 2023
Market Size (2024) USD 0.2 Billion
Market Size (2029) USD 0.26 Billion
CAGR (2024 - 2029) 4.87 %
Market Concentration Medium

Major Players

Vietnam Data Center Storage Market Major Players

*Disclaimer: Major Players sorted in no particular order

Vietnam Data Center Storage Market Analysis

The Vietnam Data Center Storage Market size is estimated at USD 0.2 billion in 2024, and is expected to reach USD 0.26 billion by 2029, growing at a CAGR of 4.87% during the forecast period (2024-2029).

  • The increasing demand for cloud computing among SMEs, government regulations for local data security, and growing investment by domestic players are some of the major factors driving the demand for data centers in the country, leading to a growing need for data center storage equipment.
  • Under Construction IT Load Capacity: The upcoming IT load capacity of the Vietnam data center market is expected to reach 240 MW by 2029.
  • Under Construction Raised Floor Space: The country's construction of raised floor area is expected to increase to 870K sq. ft by 2029.
  • Planned Racks: The country's total number of racks to be installed is expected to reach 43K units by 2029. NCR Ho Chi Minh City is expected to house the maximum number of racks by 2029.
  • Planned Submarine Cables: There are close to 20 submarine cable systems connecting Vietnam, and many are under construction. One such submarine cable that is estimated to start service in 2023 is Southeast Asia-Japan Cable 2 (SJC2), which stretches over 10,500 Kilometers with landing points from Quy Nhon, Vietnam.

Vietnam Data Center Storage Industry Segmentation

Data center storage encompasses devices, hardware, networking equipment, and software technologies facilitating the storage of data and applications within data center facilities, used for storing, managing, retrieving, distributing, and backing up digital information within such facilities. 

The Vietnam data center storage market is segmented by storage technology (network attached storage (NAS), storage area network (SAN), direct attached storage (DAS), and other technologies), by storage type (traditional storage, all-flash storage, and hybrid storage), and by end-user (IT & telecommunication, BFSI, government, media & entertainment, and other end-users). 

Market sizes and forecasts are provided in terms of value (USD) for all the segments above.

Storage Technology
Network Attached Storage (NAS)
Storage Area Network (SAN)
Direct Attached Storage (DAS)
Other Technologies
Storage Type
Traditional Storage
All-Flash Storage
Hybrid Storage
End-User
IT & Telecommunication
BFSI
Government
Media & Entertainment
Other End-Users
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Vietnam Data Center Storage Market Size Summary

The Vietnam data center storage market is poised for growth, driven by the increasing demand for cloud computing, stringent government regulations on data security, and significant investments from local players. The market is experiencing a surge in data consumption due to the rise in smartphone usage, mobile data bandwidth speeds, and the proliferation of applications. The launch of 5G networks and the digitalization trend, including the adoption of big data and IoT technologies, are further propelling the demand for data center storage solutions. Businesses are increasingly transitioning to hybrid storage solutions, combining on-premises and cloud storage, to manage the growing volumes of data effectively. This shift is particularly evident among small and medium enterprises (SMEs) and large corporations like Vingroup, which are migrating their enterprise data to cloud platforms to enhance operational capabilities.

The market landscape is characterized by semi-fragmentation, with major players such as Dell Inc., NetApp Inc., Kingston Technology Company Inc., Lenovo Group Limited, and Fujitsu Limited holding significant market shares. These companies are actively engaging in strategic collaborations and product innovations to strengthen their market position. Initiatives like CMC Telecom's efforts to establish Vietnam as a regional digital hub and Huawei's compliance with environmental standards underscore the focus on enhancing data storage infrastructure. Recent advancements in storage technologies, such as Lenovo's ThinkSystem D4390 and Dell's PowerFlex enhancements, highlight the ongoing modernization efforts in the data center storage sector. These developments are expected to further elevate the market's value and drive its expansion in the coming years.

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Vietnam Data Center Storage Market Size - Table of Contents

  1. 1. Market Dynamics

    1. 1.1 Market Overview

    2. 1.2 Market Drivers

      1. 1.2.1 Expansion of IT Infrastructure to Increase Market Growth

      2. 1.2.2 Increased Investments in Hyperscale Data Centers To Increase Market Growth

    3. 1.3 Market Restraints

      1. 1.3.1 High Initial Investment Cost To Hinder Market Growth

    4. 1.4 Value Chain / Supply Chain Analysis

    5. 1.5 Industry Attractiveness - Porter's Five Forces Analysis

      1. 1.5.1 Threat of New Entrants

      2. 1.5.2 Bargaining Power of Buyers/Consumers

      3. 1.5.3 Bargaining Power of Suppliers

      4. 1.5.4 Threat of Substitute Products

      5. 1.5.5 Intensity of Competitive Rivalry

    6. 1.6 Assessment of COVID-19 Impact

  2. 2. MARKET SEGMENTATION

    1. 2.1 Storage Technology

      1. 2.1.1 Network Attached Storage (NAS)

      2. 2.1.2 Storage Area Network (SAN)

      3. 2.1.3 Direct Attached Storage (DAS)

      4. 2.1.4 Other Technologies

    2. 2.2 Storage Type

      1. 2.2.1 Traditional Storage

      2. 2.2.2 All-Flash Storage

      3. 2.2.3 Hybrid Storage

    3. 2.3 End-User

      1. 2.3.1 IT & Telecommunication

      2. 2.3.2 BFSI

      3. 2.3.3 Government

      4. 2.3.4 Media & Entertainment

      5. 2.3.5 Other End-Users

Vietnam Data Center Storage Market Size FAQs

The Vietnam Data Center Storage Market size is expected to reach USD 0.2 billion in 2024 and grow at a CAGR of 4.87% to reach USD 0.26 billion by 2029.

In 2024, the Vietnam Data Center Storage Market size is expected to reach USD 0.2 billion.

Vietnam Data Center Storage Market Report Snapshots

Vietnam Data Center Storage Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)