Press release
Vietnam Cloud Service Market Analysis & Forecast during 2019-2028
The report titled "Vietnam Cloud Service Market" assesses the regional and local market on the basis of the service type, type, organization type, end use, and region. A comprehensive report provides an in-depth historical and future market size with trend analysis. The report underlines the competition analysis, strategic imperatives, growth avenues, and competition assessment for the concerned players in the Vietnam cloud service market.Market Overview and Dynamics
The Vietnam cloud service market value is expected to grow at a CAGR of more than 25% during the forecast period of 2022-2028. Rapid digital transformation across the country is one of the primary factors fueling the market growth. The significant presence of a mix of foreign and domestic players offering a broad range of cloud services further augments the regional market growth.
Government and public stakeholders are focusing on building the foundational infrastructure to accelerate the Vietnam cloud service market growth. In recent times, few applications have been developed and deployed singularly in some organizations without mass integration, reflecting enormous potential. Education, training, and management are the focused areas for the government and stakeholders with education facilities planning to incorporate cloud services. For instance, Vinh Long University of Technology Education (VLUTE) implemented a private cloud module VLUTE-Cloud for education, training, and management in 2018.
The Vietnam cloud service market was valued at over US$ 240 Million in 2021 and is expected to surpass US$ 1,200 Million by the end of 2028.
Further, the COVID-19 pandemic has pushed the regional market growth strongly in recent times. The cloud computing market has observed nearly 40% growth due to the pandemic. Industry players, the government, along with the key end users, are focusing on establishing and promoting digital solutions for a variety of applications which is spurring the demand for cloud services in the region. For instance, the State Bank of Vietnam amended its policies to allow banks to perform digital know-your-customer (KYC) due diligence checks for account opening and transactions, paving the way for banks and citizens to go digital for their banking needs.
• Based on the service type, Software-as-a-Service (SaaS) is expected to grow at the fastest CAGR during the forecast period of 2022-2028.
• On the basis of organization type, the enterprise segment held a dominating market share in 2021, owing to the wide adoption of cloud services by SMEs and enterprises.
• Based on region, Northern Vietnam is expected to grow significantly on account of rapid urbanization and digital transformation in the region.
Competition Analysis: Foreign players dominate the regional market
The Vietnam cloud service market is characterized by the presence of a mix of a significant number of international and domestic cloud service providers. International players such as Google LLC, Amazon.com Inc., IBM Corp., SAP SE, Salesforce Inc., and Oracle Corp. dominate the Vietnam cloud service market with nearly 80% market share in 2021 on account of brand presence and wide service offerings. Whereas domestic players such as Viettel-CHT Ltd. Co., FPT Corp., HPT Vietnam Corp., CMC Corp., Mat Bao Corp., VCC Vinaphone (VNPT Cloud Contact Center), and VNG Corp., among others, held the remaining market share.
Leading industry players are making significant investments to gain a competitive edge over other players and as well as increase market share in the market space. Key developments observed in recent years in the market include,
• In October 2021, VIB Bank and Microsoft Vietnam announced a 3-year partnership to deploy multi-cloud on Microsoft Azure premises.
• In October 2021, Vietinbank cooperated with Amazon Web Services (AWS) to launch a digital banking service named VietinBank iPay, which is entirely deployed on cloud computing.
• In September 2021, Techcombank chose AWS as a strategic partner to supply cloud computing services, including inclusive training packages AWS Skills Guild.
RationalStat has segmented the Vietnam cloud service market on the basis of service type, type, organization type, end user, and region.
• By Service Type
o Infrastructure-as-a-Service (IaaS)
o Platform-as-a-Service (PaaS)
o Software-as-a-Service (SaaS)
• By Type
o Public
o Private
o Hybrid
• By Organization Type
o Enterprise
SMEs
Large Enterprises
o Public Administration
• By End-Use
o Banking, Financial Services & Insurance (BFSI)
o Healthcare
o Retail & Warehousing
o Manufacturing
o IT & Telecom
o Media & Entertainment
o Public & Government
o Others (Agriculture etc.)
• By Region
o Northern Vietnam
o Central Vietnam
o Southern Vietnam
For more information about this report visit https://store.rationalstat.com/store/vietnam-cloud-service-market-investment-growth-opportunity-analysis/
Contact
RationalStat LLC
Kimberly Shaw, Content and Press Manager
sales@rationalstat.com
Phone: +1 302 803 5429
About RationalStat LLC
RationalStat is an end-to-end US-based market intelligence and consulting company that provides comprehensive market research reports along with customized strategy and consulting studies. The company has sales offices in India, Mexico, and the US to support global and diversified businesses. The company has over 80 consultants and industry experts, developing more than 850 market research and industry reports for its report store annually.
RationalStat has strategic partnerships with leading data analytics and consumer research companies to cater to the clients' needs. Additional services offered by the company include consumer research, country reports, risk reports, procurement intelligence, data analytics, and analytical dashboards.
This release was published on openPR.
Permanent link to this press release:
Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.
You can edit or delete your press release Vietnam Cloud Service Market Analysis & Forecast during 2019-2028 here
News-ID: 2763758 • Views: …
More Releases from RationalStat LLC

Latest Market Study | Global Lipstick Filling Machine Market Size, Share, & Fore …
The global lipstick filling machine market is expected to reach US$ 88.2 million by 2030, with an annual growth rate of more than 4.5%.
According to RationalStat's recent industry analysis, the Global Lipstick Filling Machine Market value is estimated at US$ 64.8 million in 2023 and is expected to rise at a strong CAGR of over 4.5% over the forecast period of 2023-2030.
Market Definition, Market Scope, and Report Overview
A lipstick…

Published Market Report | Global Railway Systems Market Size, Share, & Forecast …
The global railway systems market is expected to reach US$ 29.2 billion by 2030, with an annual growth rate of more than 3.6%.
According to RationalStat's recent industry analysis, the Global Railway Systems Market value is estimated at US$ 22.8 billion in 2023 and is expected to rise at a strong CAGR of over 3.6% over the forecast period of 2023-2030.
Market Definition, Market Scope, and Report Overview
Railway systems, also known…

Published Market Report | Global Window Blinds Market Size, Share, & Forecast 20 …
The global window blinds market is expected to reach US$ 3.7 billion by 2030, with an annual growth rate of more than 3.8%.
According to RationalStat's most recent industry analysis, the Global Window Blinds Market value is estimated at US$ 2.9 billion in 2023 and is expected to rise at a strong CAGR of over 3.8% over the forecast period of 2023-2030.
Market Definition, Market Scope, and Report Overview
Window blinds are…

Ointment and Cream Manufacturing Plant Market Report 2023 | Ointment and Cream M …
The global ointment and cream manufacturing plant market is expected to approach US$ 388.7 million by 2030, with an annual growth rate of more than 5.9%
Global Ointment and Cream Manufacturing Plant Market is valued at US$ 260.9 million in 2023 and is expected to grow at a significant CAGR of over 5.9% over the forecast period of 2023-2030, according to the published market report by RationalStat
Market Definition, Market…
More Releases for Vietnam
Vietnam beverages Market : Key Findings for Market Analysis and Business Plannin …
Vietnam beverages Market Analysis and Forecast, 2019-2028
The Vietnam beverages market was over US$ 2.5 billion in 2019 and is expected to grow at a CAGR of around 14.2% over the forecast period of 2022-2028.
Market Overview
The Vietnam beverages market study by RationalStat comprises comprehensive market analysis and insights across the key market segments and geography. The market report analyzes the Vietnam market for the historical period of 2019-2021 and the forecast…
Vietnam beverages Market | Outlook and Opportunities: A Forecast of Growth, Inve …
Vietnam beverages Market Analysis and Forecast, 2022-2028
The Vietnam beverages market was US$ 480 Bn in 2021 and is expected to grow at a CAGR of around 12.5% over the forecast period of 2022-2028.
Download PDF Sample of beverages Market report @ https://www.themarketinsights.com/request-sample/280160
Market Scope & Overview
The Vietnam beverages market study by RationalStat comprises comprehensive market analysis and insights across the key market segments and geography. The market report analyzes the Vietnam market…
Vietnam Two Wheeler Tire Market Size Boosting The Growth Worldwide | Kenda Rubbe …
Vietnam two wheeler tire market is expected to continue growing owing to the expanding private-public investment in two-wheeler production in the country and increasing vehicle ownership owing to the rising disposable income of the consumers
A recent study conducted by the strategic consulting and market research firm Report Ocean revealed that the Vietnam two wheeler tire market witnessed sales of 40.4 million units in the year 2021 and this sales figures…
Vietnam beverages market Key Information By Top Key Player | Sabeco, Heineken Vi …
The Vietnam beverages market was over US$ 2.5 billion in 2019 and is expected to grow at a CAGR of around 14.2% over the forecast period of 2022-2028.
Market Scope & Overview
The Vietnam beverages market study by RationalStat comprises comprehensive market analysis and insights across the key market segments and geography. The market report analyzes the Vietnam market for the historical period of 2019-2021 and the forecast period of 2022-2028 based…
Vietnam Agriculture Market, Vietnam Agriculture Industry, Vietnam Agriculture Li …
Agriculture has always been of pronounced importance for Vietnam, as feeding the realm’s largest population is not a relaxed task. The Vietnam government has been associate the agriculture industry with a number of policies, demanding to alleviate the output and seeking methods to ensure the sector is developing healthily and sustainably. The Vietnam federal government has been decidedly supportive of agriculture for decades, and there is extensive political consensus as…
The Baby Food Sector in Vietnam, 2018 Key Trends and Opportunities By Vietnam Da …
"The Baby Food Sector in Vietnam, 2018", is an analytical report by GlobalData which provides extensive and highly detailed current and future market trends in the Vietnamese market.
Vietnamese mothers have prepared fresh food for their babies but, as the economy has developed and more women have been drawn into the urban workplace, these mothers have increasingly found they have less time to spend preparing food and to spend with their…