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Vietnam Telecom Market Size (2024 - 2029)

The Vietnamese telecom market is poised for growth, driven by the increasing demand for high-speed connectivity and the expansion of 5G infrastructure. The market's expansion is supported by significant investments in research and development by major telecom companies. The government's initiative to upgrade existing networks and develop advanced communication technologies further underscores the potential for market growth. Additionally, the shift in consumer behavior due to the COVID-19 pandemic, with more people working from home and consuming broadband services, has accelerated the need for enhanced telecom services, contributing to the market's expansion.

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Market Size of Vietnam Telecom Industry

Vietnam Telecom Market Summary
Study Period 2019 - 2029
Base Year For Estimation 2023
Forecast Data Period 2024 - 2029
Historical Data Period 2019 - 2022
CAGR 1.21 %
Market Concentration Medium

Major Players

Vietnam Telecom Market Major Players

*Disclaimer: Major Players sorted in no particular order

Vietnam Telecom Market Analysis

The Vietnamese telecom market is expected to register a CAGR of 1.21% over the next five years. Most major telecom companies, such as Vietnamobile, Viettel, EVNTelecom, and AT&T, are based in Vietnam and promote innovation by making significant R&D investments consistently.

  • The growing demand for high-speed connectivity services by customers and increasing spending on the deployment of 5G infrastructure positively influence the growth of the Vietnam telecom market. For instance, Samsung Electronics collaborated with Viettel to start 5G commercial trials in Da Nang, Vietnam. Through this partnership, high-performance and advanced 5G services can be offered to customers.
  • The growth in the telecom industry is mainly due to the increasing population with the rising adoption of mobile phones that support 3G, 4G, and 5G services across the country. For instance, Infinera selected the Viettel Optical Timing Channel 2.0 (OTC2.0) solution to prepare the Vietnamese operator's synchronization network for a 5G pilot rollout.
  • 5G services still need to be fully deployed in Vietnam, but key telecom operators have completed 5G demonstrations and trials over the past two years. For instance, MobiFone rolled out its 5G network trial in Hue.
  • The government plans to upgrade its 3G and 4G networks to 5G. As part of its National Digital Transformation Programme, the government plans to develop a network infrastructure that provides high-speed connectivity services for customers. For instance, the Minister of Information and Communications (MIC) intends to focus on developing 6G wireless communications technologies.
  • Due to the COVID-19 pandemic, a large portion of the Vietnamese population has been forced to spend almost constantly at home. Many people opt to work from home, and due to that, there is increased broadband consumption. Offering high-speed broadband services will further support the growth of the telecom market.

Vietnam Telecom Industry Segmentation

Telecom or telecommunication is the long-range transmission of information by electromagnetic means.
The Vietnamese Telecom Market includes in-depth trend analysis based on connectivity like Fixed Networks, Mobile Networks, and Telecom Towers. The telecom services are divided into Voice Services (Wired and Wireless), Data and Messaging Services, and OTT and PayTV Services. Several factors, including an increasing demand for 5G, are likely to drive the adoption of telecom services.

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

By Services
Voice Services
Wired
Wireless
Data and Messaging Services (Coverage to include Internet & Handset Data packages, and Package Discounts)
OTT and PayTV Services
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Vietnam Telecom Market Size Summary

The Vietnamese telecom market is poised for steady growth, driven by the increasing demand for high-speed connectivity and the deployment of advanced 5G infrastructure. Major telecom companies like Vietnamobile, Viettel, EVNTelecom, and AT&T are at the forefront, investing significantly in research and development to foster innovation. The government's National Digital Transformation Programme aims to enhance network infrastructure, transitioning from 3G and 4G to 5G networks, with plans to explore 6G technologies. This transition is supported by collaborations with global tech giants, such as Samsung Electronics and Infinera, to conduct 5G trials and implement cutting-edge solutions. The rise in smartphone adoption and mobile internet usage further propels market expansion, as more consumers seek high-speed wireless services.

The market landscape is moderately fragmented, with key players engaging in strategic partnerships to advance telecom services. The COVID-19 pandemic has accelerated broadband consumption, as remote work and increased home entertainment consumption drive demand for high-speed internet. Over-the-top (OTT) services are gaining traction, with platforms like YouTube and FPT Play leading in rural areas, prompting a shift from traditional Pay-TV services. The growing number of mobile subscribers and internet penetration rates are creating new opportunities for OTT service providers, including international giants like Netflix and Amazon Prime. Regulatory authorities are actively facilitating the rollout of 5G licenses and expanding wireless broadband connections, further supporting the telecom market's growth trajectory.

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Vietnam Telecom Market Size - Table of Contents

  1. 1. MARKET INSIGHTS

    1. 1.1 Market Overview

    2. 1.2 Industry Ecosystem Analysis

    3. 1.3 Industry Attractiveness- Porter's Five Force Analysis

      1. 1.3.1 Bargaining Power of Suppliers

      2. 1.3.2 Bargaining Power of Consumers

      3. 1.3.3 Threat of New Entrants

      4. 1.3.4 Threat of Substitute Products

      5. 1.3.5 Intensity of Competitive Rivalry

    4. 1.4 Assessment of the Impact of COVID-19 on the Industry Ecosystem

    5. 1.5 Regulatory Landscape in the Vietnam

  2. 2. MARKET SEGMENTATION

    1. 2.1 By Services

      1. 2.1.1 Voice Services

        1. 2.1.1.1 Wired

        2. 2.1.1.2 Wireless

      2. 2.1.2 Data and Messaging Services (Coverage to include Internet & Handset Data packages, and Package Discounts)

      3. 2.1.3 OTT and PayTV Services

Vietnam Telecom Market Size FAQs

The Vietnam Telecom Market is projected to register a CAGR of 1.21% during the forecast period (2024-2029)

Vietnamobile, Viettel, EVNTelecom, AT&T and MobiFone are the major companies operating in the Vietnam Telecom Market.

Vietnam Telecom Report Snapshots

Vietnam Telecom Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)