Vietnam ICT Market Size & Share Analysis - Growth Trends & Forecasts (2025 - 2030)

The Vietnam ICT Market Report is Segmented by Type (Hardware [Network Switches, Routers and WLAN, Servers and Storage, and Other Hardware], Software, IT Services, and Telecommunication Services) and Industry Vertical (BFSI, IT and Telecom, Government, Retail, and E-Commerce, Manufacturing, Energy and Utilities, and Other Industry Verticals). The Market Sizes and Forecasts are Provided in Terms of Value (USD) for all the Above Segments.

Vietnam ICT Market Size & Share Analysis - Growth Trends & Forecasts (2025 - 2030)

Vietnam ICT Market Size

Vietnam ICT Market Summary
Study Period 2019 - 2030
Base Year For Estimation 2024
Forecast Data Period 2025 - 2030
Market Size (2025) USD 9.12 Billion
Market Size (2030) USD 14.64 Billion
CAGR (2025 - 2030) 9.92 %
Market Concentration Low

Major Players

Vietnam ICT Market Major Players

*Disclaimer: Major Players sorted in no particular order

Compare market size and growth of Vietnam ICT Market with other markets in Technology, Media and Telecom Industry

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Vietnam ICT Market Analysis

The Vietnam ICT Market size is estimated at USD 9.12 billion in 2025, and is expected to reach USD 14.64 billion by 2030, at a CAGR of 9.92% during the forecast period (2025-2030).

  • The Vietnamese ICT market is primarily driven by increasing government initiatives to boost digital transformation in the public sector, growing adoption of advanced hardware and software solutions in end-user industries, and new product launches by major market vendors operating in the country. Vietnam's information and communication technology (ICT) market has grown steadily over the past few years. The country is considered one of Southeast Asia's most advanced ICT markets, with a strong digital infrastructure and a tech-savvy population.
  • The government approved the National Digital Transformation Program through 2025, with a vision to 2030, which will further support the growth of the ICT market. According to data from the World Bank, Vietnam's digital economy is expected to grow 10% annually, exceeding USD 200 billion by 2045. Additionally, to transform the country into a global innovation and AI hub, the government issued a national strategy for research and development applications for AI until 2030. Such government investments will help start-up companies offer ICT solutions in the market.
  • The government and large corporations have invested heavily in core technology areas, such as artificial intelligence (AI) and cloud computing. The Vietnam International Bank (VIB) signed a three-year strategic partnership with Microsoft Azure to deploy multi-cloud on the Microsoft Azure premise, which would further increase the growth of the cloud computing market, fueling the market’s growth.
  • The inadequate ICT infrastructure in certain regions of Vietnam is a significant restraint to market growth. While major cities have seen significant improvements, rural areas still face connectivity issues, including limited broadband coverage and unreliable network infrastructure. Additionally, the shortage of skilled professionals is significantly challenging market growth. The rapid pace of technological advancements requires a well-trained workforce to develop, implement, and support ICT solutions. Vietnam faces a gap between the demand for skilled ICT talents and the availability of qualified individuals, which can challenge the growth and innovation potential of the market.
  • The COVID-19 pandemic drove people to opt for the work-from-home mode and increased the time spent watching videos and playing games, leading to increased Internet penetration and a demand for data competition. To address this, Jones Lang LaSalle (JLL) received numerous requests to rent land or lease buildings to construct and develop Tier-3 or Tier-4 data centers in Vietnam, creating new growth opportunities for the ICT market.

Vietnam ICT Industry Overview

The Vietnamese ICT market is fragmented, with major players like Microsoft Corporation, Cisco Systems Inc., Viettel, Qualcomm Technologies Inc., and Google LLC (Alphabet Inc.). Players in the market are adopting strategies such as partnerships and acquisitions to enhance their product and service offerings and gain sustainable competitive advantage.

  • June 2024: Cisco Systems Inc., a market vendor, announced the launch of the company's Country Digital Acceleration (CDA) program in Vietnam. The CDA program in Vietnam is strategically aligned with the government's National Digital Transformation Program by 2025, with an orientation toward 2030, which aims to elevate the country's technological capabilities. It focuses on promoting economic growth, technological innovation, and cybersecurity resilience through improvements to the country's communication and information infrastructure, boosting the market presence of Cisco Systems Inc.
  • April 2024: Viettel, the military-owned telecommunications service provider, inaugurated its new data center in Hanoi's Hoa Lac Hi-tech Park, the largest in Vietnam. It is the country's first high-capacity data center, three times larger than the average. It is designed to meet the development trends of AI, which requires high-performance chips and increased computing power. This can create market growth opportunities for Viettel.

Vietnam ICT Market Leaders

  1. Microsoft Corporation

  2. Cisco Systems Inc.

  3. Viettel

  4. Qualcomm Technologies, Inc.

  5. Google LLC (alphabet Inc.)

  6. *Disclaimer: Major Players sorted in no particular order
Vietnam ICT Market Concentration
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Vietnam ICT Market News

  • July 2024: Google and the Vietnam National Innovation Centre (NIC) launched the 'Build for the AI Future' initiative to address challenges and promote comprehensive AI development in Vietnam. This comprehensive program was designed to accelerate the country's progress in AI through two strategies, including building talent and start-ups.
  • April 2024: Alibaba, the global cloud service provider, announced plans to build a data center in Vietnam to store data locally due to compliance with legal requirements. The company relies on government-owned facilities.

Vietnam ICT Market Report - Table of Contents

1. INTRODUCTION

  • 1.1 Study Assumptions and Market Definition
  • 1.2 Scope of the Study

2. RESEARCH METHODOLOGY

3. EXECUTIVE SUMMARY

4. MARKET INSIGHTS

  • 4.1 Market Overview
  • 4.2 Ecosystem Analysis
  • 4.3 Industry Stakeholder Analysis
  • 4.4 Industry Attractiveness- Porter's Five Force Analysis
    • 4.4.1 Bargaining Power of Suppliers
    • 4.4.2 Bargaining Power of Consumers
    • 4.4.3 Threat of New Entrants
    • 4.4.4 Threat of Substitute Products
    • 4.4.5 Intensity of Competitive Rivalry
  • 4.5 An Assessment of the impact and recovery from COVID-19

5. MARKET DYNAMICS

  • 5.1 Market Drivers
    • 5.1.1 Rising Smart City Initiatives Leading to Revamp of Technology Infrastructure
    • 5.1.2 Digital Transformation and Industrial Automation
    • 5.1.3 Increasing Investment on Key Technologies (Cloud Technology and Artificial Intelligence)
  • 5.2 Market Restraints
    • 5.2.1 High Initial Cost for Infrastructure
    • 5.2.2 Need for Technology-Specific Skillset and Awareness

6. KEY TECHNOLOGY INVESTMENTS

  • 6.1 Cloud Technology
  • 6.2 Artificial Intelligence
  • 6.3 Cyber Security
  • 6.4 Digital Services

7. MARKET SEGMENTATION

  • 7.1 By Type
    • 7.1.1 Hardware
    • 7.1.1.1 Network Switches
    • 7.1.1.2 Routers and WLAN
    • 7.1.1.3 Servers and Storage
    • 7.1.1.4 Other Hardware (Fiber Optics solutions)
    • 7.1.2 Software
    • 7.1.3 IT and Infrastructure Services (includes Cloud)
    • 7.1.4 Telecommunication Services
  • 7.2 By Industry Vertical
    • 7.2.1 BFSI
    • 7.2.2 IT and Telecom
    • 7.2.3 Government
    • 7.2.4 Retail and E-commerce
    • 7.2.5 Manufacturing
    • 7.2.6 Energy and Utilities
    • 7.2.7 Other Industry Verticals

8. COMPETITIVE LANDSCAPE

  • 8.1 Company Profiles
    • 8.1.1 Microsoft Corporation
    • 8.1.2 Cisco Systems Inc.
    • 8.1.3 Viettel
    • 8.1.4 Qualcomm Technologies Inc.
    • 8.1.5 Google LLC (Alphabet Inc.)
    • 8.1.6 Fujitsu
    • 8.1.7 Fortinet
    • 8.1.8 Vietnamobile
    • 8.1.9 D-Link Systems Inc.
    • 8.1.10 Hewlett Packard Enterprise
    • 8.1.11 Telehouse Vietnam
  • *List Not Exhaustive

9. INVESTMENT ANALYSIS

10. FUTURE OUTLOOK OF THE MARKET

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Vietnam ICT Industry Segmentation

Information and communication technology (ICT) is an extensional term for information technology (IT) that stresses the role of unified communications and the integration of telecommunications (telephone lines and wireless signals) and computers, as well as necessary enterprise software, middleware, storage, and audiovisual, enabling users to access, store, transmit, understand, and manipulate information.

The Vietnamese ICT market is segmented by type (hardware [network switches, routers and WLAN, servers and storage, and other hardware], software, IT services, and telecommunication services) and industry vertical (BFSI, IT and telecom, government, retail, and e-commerce, manufacturing, energy and utilities, and other industry verticals). The market sizes and forecasts are provided in terms of value (USD) for all the above segments.

By Type Hardware Network Switches
Routers and WLAN
Servers and Storage
Other Hardware (Fiber Optics solutions)
Software
IT and Infrastructure Services (includes Cloud)
Telecommunication Services
By Industry Vertical BFSI
IT and Telecom
Government
Retail and E-commerce
Manufacturing
Energy and Utilities
Other Industry Verticals
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Vietnam ICT Market Research FAQs

How big is the Vietnam ICT Market?

The Vietnam ICT Market size is expected to reach USD 9.12 billion in 2025 and grow at a CAGR of 9.92% to reach USD 14.64 billion by 2030.

What is the current Vietnam ICT Market size?

In 2025, the Vietnam ICT Market size is expected to reach USD 9.12 billion.

Who are the key players in Vietnam ICT Market?

Microsoft Corporation, Cisco Systems Inc., Viettel, Qualcomm Technologies, Inc. and Google LLC (alphabet Inc.) are the major companies operating in the Vietnam ICT Market.

What years does this Vietnam ICT Market cover, and what was the market size in 2024?

In 2024, the Vietnam ICT Market size was estimated at USD 8.22 billion. The report covers the Vietnam ICT Market historical market size for years: 2019, 2020, 2021, 2022, 2023 and 2024. The report also forecasts the Vietnam ICT Market size for years: 2025, 2026, 2027, 2028, 2029 and 2030.

Vietnam ICT Industry Report

The Vietnam ICT market is experiencing robust growth, driven by a surge in digital transformation initiatives across various sectors. The Vietnam ICT market report highlights the significant role of hardware, software, IT services, and telecommunication services in this expansion. Industry verticals such as BFSI, IT and telecom, government, retail and e-commerce, manufacturing, and energy and utilities are rapidly adopting ICT solutions to enhance operational efficiencies and service delivery.

The increasing internet penetration and the adoption of advanced technologies are pivotal in expanding the Vietnam ICT industry. IT companies in Vietnam are capitalizing on these opportunities, supported by government initiatives aimed at fostering a digital economy and enhancing the country's tech infrastructure. This dynamic market environment is expected to continue its upward trajectory, bolstering Vietnam's position as a significant player in the global ICT landscape.

The market structure of the Vietnam ICT industry is detailed in the report, providing comprehensive industry analysis and industry statistics. The report also covers industry trends and industry growth, offering an industry overview and an in-depth industry report. Market analysis and market forecast are included, highlighting market growth and market overview. The market segmentation and market share are discussed, providing a detailed report pdf for further insights.

Growth statistics and market research are essential components of the report, which includes an analysis pdf for a thorough understanding. The global market context is also considered, with insights into the growth rate and industry data. The report provides valuable industry information, industry outlook, and industry reports, making it a crucial resource for industry research.

The Vietnam ICT market report is an example of comprehensive market data, offering a market forecast and market growth insights. Market leaders and market outlook are discussed, providing a market overview and market predictions. The market review and market segmentation are covered, highlighting the market value and providing a detailed report example. Research companies can benefit from the report pdf, which offers in-depth insights and analysis.

Vietnam ICT Market Report Snapshots