Press Release

Vietnam Cloud Service Market Set to Grow at over 10% CAGR through 2024

Lower cost of ownership, rising need for data storage, growing small & medium-sized enterprises (SMEs) and enterprise mobility to boost Vietnam cloud service market through 2024

According to TechSci Research report, Vietnam Cloud Service Market By Service Type, By Type, By End Use Application, Competition, Forecast & Opportunities, 2014-2024’’, Vietnam cloud service market is projected to grow at a CAGR of over 10% during 2019-2024 on account of lower cost of ownership and surging adoption of cloud computing services and rapid development of SMEs across Vietnam. Moreover, rising need for data storage and instant implementation of cloud service across different organizations is further strengthening the growth of Vietnam cloud service market. Additionally, enterprise mobility coupled with network virtualization is anticipated to fuel growth in Vietnam cloud service market during forecast period. FPT Corporation, Viettel-CHT Limited Company, CMC Corporation, IBM Vietnam Company, etc., are some of the major companies operating in Vietnam cloud service market.

Browse 31 market data Figures and Tables spread through 83 Pages and an in-depth TOC on " Vietnam Cloud Service Market"

Northern Vietnam led cloud service market in the country during 2014-2018 and is likely to maintain its dominance during forecast period as well owing to the presence of corporates/private organizations, government & defense base along with the growing number of SMEs in the region. Among types of cloud service, public cloud is the major segment in Vietnam cloud service market due to its lower costs. Moreover, the segment is anticipated to grow at the fastest pace during forecast period, SMEs are increasing at a significant rate in Vietnam.

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 “Infrastructure-as-a-service dominates Vietnam cloud service market as it reduces the cost associated with hardware like servers, storage, networking, etc., and it enables multiple users to work a single piece of hardware anywhere and anytime. However, software-as-a-service is expected to witness the fastest growth during forecast period as it helps companies in lowering the up-front cost associated with software. Software-as-a-service is subscription-based and has no up-front license fees, thereby resulting in lower initial costs.” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.

Vietnam Cloud Service Market By Service Type, By Type, By End Use Application, Competition, Forecast & Opportunities, 2014-2024 has evaluated the future growth potential of Vietnam cloud service market and provides statistics and information on market size, structure and future market growth. The report offers decision makers superior market intelligence, thereby enabling them conduct thorough investment appraisal. Besides, the report also analyzes the evolving market inclinations along with indispensable drivers, challenges and opportunities in Vietnam Cloud Service Market.

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