Vietnam Data Center Storage Market is Expected to Register a CAGR of 12.60% Through 2029
Growth of E-Commerce & Digital Payments, Rapid digital transformation across industries and increased adoption of cloud computing are likely to propel the market during the forecast period.
According to
TechSci Research report, “Vietnam Data Center Storage Market – By Region,
Competition, Forecast and Opportunities, 2019-2029F”, Vietnam Data Center Storage Market was valued at
USD 750 Million in 2023 and is expected to reach USD 1,542 Million by 2029 with
a CAGR of 12.60% during the forecast period.
Vietnam’s government has played a
significant role in driving the growth of the data center storage market
through various initiatives and investments in digital infrastructure.
Recognizing the importance of data centers to a modern, digital economy, the
government has implemented policies that encourage the development of digital
infrastructure, including data centers, to support its goal of becoming a
digital economy by 2030.
One of the key government initiatives is
the National Digital Transformation Program, which aims to accelerate the
adoption of digital technologies across all sectors of the economy. This
program emphasizes the importance of data storage, cybersecurity, and cloud
computing, driving demand for advanced data center storage solutions. The
government’s focus on e-governance and digital public services also requires
significant investment in secure and scalable data storage to manage the
growing volumes of public sector data.
In addition to policy initiatives, the
Vietnamese government has also invested in expanding the country’s
telecommunications and IT infrastructure. This includes the rollout of 5G
networks, which will enable faster data transmission and greater connectivity,
further boosting the need for efficient data center storage solutions. As 5G
technology becomes more widespread, the volume of data generated by Internet of
Things (IoT) devices, smart cities, and autonomous systems will increase,
placing greater demands on data centers to store and manage this information. The government has introduced regulations around data localization, requiring
certain types of data, such as personal and financial information, to be stored
within the country. This has led to increased investment in local data centers
by both domestic and international companies looking to comply with these
regulations. As a result, the data center storage market in Vietnam is
expanding rapidly to accommodate the growing need for localized data storage,
driven by government policies that promote digital infrastructure development.
Browse over XX Market
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Based
on End User, The IT &
Telecommunications held the largest market share in 2023. The IT & Telecommunications sector
dominates the Vietnam Data Center Storage market due to several key factors
related to the industry's rapid growth and increasing demand for data storage.
As Vietnam undergoes a digital transformation, the IT & Telecommunications
sector plays a critical role in facilitating this shift, resulting in the
generation and management of vast amounts of data. This demand for data storage
is driven by the rise of 5G technology, the proliferation of smartphones, and
the increasing reliance on high-speed internet and digital services. Telecommunications
companies, in particular, require massive data storage capacities to manage the
growing number of subscribers and their consumption of data-intensive
applications, such as video streaming, online gaming, and social media. The
transition to 5G networks further amplifies this need, as it supports emerging
technologies like the Internet of Things (IoT), which generates continuous
streams of data from connected devices. To manage this surge in data, telecom
companies are investing heavily in data centers to ensure that they can provide
reliable, scalable, and secure storage solutions. The
IT sector, encompassing cloud computing, software services, and digital
platforms, is a significant contributor to the market's growth. As businesses
adopt digital platforms, there is a rising demand for cloud-based storage
solutions to enable remote work, data backup, and disaster recovery.
Enterprises are increasingly outsourcing their storage needs to data centers
that offer robust infrastructure capable of handling large-scale storage, data
processing, and analytics. Additionally, both IT and telecom companies are
under pressure to comply with regulatory requirements, including data
localization laws, which mandate that certain types of data be stored within
Vietnam. This drives further investment in local data center infrastructure.
Overall, the IT & Telecommunications sector’s need for high-performance,
secure, and scalable data storage solutions makes it a dominant player in
Vietnam's data center storage market.
Based on region, The Northern
Vietnam is the fastest growing region in the Vietnam Data Center Storage Market.
Northern Vietnam, particularly the Hanoi metropolitan area, is experiencing
rapid economic development and industrial expansion. The region is home to
numerous high-tech industries, financial institutions, and multinational
corporations, all of which generate and rely on large volumes of data. The
growth of these sectors necessitates robust data storage solutions to support
their operations and digital transformation strategies. The Vietnamese government
has been actively investing in infrastructure development in Northern Vietnam.
Initiatives such as the Hanoi Capital Region’s smart city projects and the
expansion of transportation networks are creating a favorable environment for
data center growth. The government's support for digitalization and technology
adoption further accelerates the demand for data centers. Northern Vietnam's
strategic location provides proximity to major regional markets, including
China and other Southeast Asian countries. This geographic advantage is
attracting international companies looking to establish or expand their data
storage capabilities in a strategically located hub. Northern Vietnam’s
connectivity to regional trade routes and markets enhances its appeal as a data
center location. Hanoi and its surrounding
areas are becoming significant technology and innovation hubs. The presence of
tech parks, research institutions, and IT companies in the region drives the
need for advanced data storage solutions. The influx of tech talent and the
rise of startups contribute to the growing demand for data center services. The
rise in cloud computing adoption among businesses in Northern Vietnam is
further boosting data center storage requirements. Companies are shifting to
cloud-based solutions for their flexibility and scalability, leading to an
increased need for cloud data centers in the region.
Major companies
operating in the Vietnam Data Center Storage Market are:
- Toshiba
Corporation
- SAP
SE
- Cisco
Systems, Inc.
- Oracle
Corporation
- Intel
Corporation
- Microsoft
Corporation
- IBM
Corporation
- Hewlett
Packard Enterprise Company
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“The Vietnam
Data Center Storage market presents significant opportunities driven by rapid
digital transformation, increasing cloud adoption, and growing data generation
from sectors like e-commerce, finance, and telecommunications. With rising
demand for secure, scalable, and compliant storage solutions, the market is
poised for growth. Vietnam's expanding digital economy, supported by government
initiatives and 5G rollout, enhances the need for advanced storage
infrastructure, including hybrid cloud, edge computing, and data localization.
Companies offering energy-efficient, secure, and innovative storage solutions
can capitalize on this evolving market, catering to both domestic and
international enterprises seeking localized data storage solutions”, said Mr.
Karan Chechi, Research Director of TechSci Research, a research-based global management consulting firm.
“Vietnam Data Center Storage Market, By Storage System (Direct-Attached Storage, Network-Attached Storage, Storage Area Network, Cloud Storage, Software Defined Storage), By Storage Architecture (File & Object Based Storage, Block Storage), By End User (Media & Entertainment, Education, IT & Telecommunications, Defense & Aerospace, BFSI, Consumers, Others) By Region, Competition, Forecast & Opportunities, 2019-2029F”,
has evaluated the future growth potential of Vietnam Data Center Storage Market
and provides statistics & information on Market size, structure and future Market
growth. The report intends to provide cutting-edge Market intelligence and help
decision-makers make sound investment decisions., The report also identifies
and analyzes the emerging trends along with essential drivers, challenges, and
opportunities in the Vietnam Data Center Storage Market.
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