Vietnam Smartphone Market to Grow with a CAGR of 9.40% through 2029

Vietnam Smartphone Market is driven by a combination of factors such as rising income levels, increasing connectivity, and a competitive market environment.

According to TechSci Research report, “Vietnam Smartphone Market – By Region, Competition, Forecast and Opportunities, 2019-2029F”, the Vietnam Smartphone Market stood at USD 5.6 billion in 2023 and is anticipated to grow with a CAGR of 9.40% in the forecast period, 2025-2029. The Vietnam smartphone market is a dynamic and rapidly evolving sector of the country's consumer electronics industry. With a large and tech-savvy population, Vietnam has become one of the fastest-growing smartphone markets in Southeast Asia. The Vietnam smartphone market has seen remarkable growth in recent years, driven by several key factors, including increasing disposable income, urbanization, and the growing demand for connectivity and digital services. Vietnam is home to a population of over 95 million people, and a significant portion of this population is embracing smartphone technology. The country has consistently demonstrated impressive growth in smartphone adoption, making it one of the most promising markets in the region. In 2021, Vietnam saw an increase in smartphone shipments, indicating continued growth.

Browse over XX market data Figures spread through 83 Pages and an in-depth TOC on "Vietnam Smartphone Market”

Rising disposable income levels have enabled more Vietnamese consumers to afford smartphones. As the middle class expands, there is greater purchasing power for consumer electronics, including smartphones. The ongoing urbanization process has led to higher urban populations in cities like Ho Chi Minh City and Hanoi. In urban areas, the demand for smartphones is particularly strong, as they are considered essential tools for communication, information access, and daily life management. Vietnam boasts a young and tech-savvy population, with a significant portion under the age of 30. Young consumers are enthusiastic about the latest technology trends, driving smartphone adoption and innovation in the market. Smartphone manufacturers have responded to the demand for affordable devices in Vietnam. A wide range of budget and mid-range smartphones are available, making smartphones accessible to a broader demographic.

Mobile internet penetration has increased significantly, with widespread access to 4G networks. This has further fueled the use of smartphones for online activities such as social media, e-commerce, and content streaming. 5G technology is gradually making its way into the market. While 5G infrastructure is still developing, the anticipation of faster data speeds and improved connectivity is driving interest in 5G-ready smartphones. E-commerce is a thriving sector in Vietnam, and smartphones play a crucial role in this ecosystem. Consumers use smartphones for online shopping, payments, and accessing e-commerce platforms. Local smartphone brands, such as Vsmart and BKAV, are gaining traction in Vietnam. These brands offer competitive and feature-rich devices, contributing to market competition.

E-commerce platforms and online marketplaces are significant sales channels for smartphones in Vietnam. Consumers often rely on online retailers for convenience, diverse options, and competitive pricing. Mobile gaming and content consumption are popular smartphone activities in Vietnam. The gaming market is thriving, and manufacturers are creating gaming-focused devices to cater to this demand.

Environmentally conscious consumers are looking for smartphones that align with sustainability principles. Manufacturers are responding with eco-friendly initiatives and device features that promote sustainability.

While the Vietnam smartphone market shows significant promise, it is not without challenges. These challenges include addressing the digital divide, ensuring affordability for all segments of the population, and navigating the complexities of the competitive market. Looking ahead, the Vietnam smartphone market is expected to continue its growth trajectory. The ongoing development of 5G infrastructure, coupled with the expansion of digital services and e-commerce, will likely drive further smartphone adoption. Local and international manufacturers will need to continue innovating to meet the evolving needs and preferences of Vietnamese consumers.

The Vietnam smartphone market is segmented into operating system, display technology, sales channel, and region.

Based on operating system, iOS has a significant share in the Vietnam smartphone market. iOS devices are often favored by business professionals and executives for their security features, seamless integration with other Apple products, and the availability of business-oriented apps. Based on sales channel, online have a significant share in the Vietnam smartphone market. E-commerce platforms like Lazada, Shopee, Tiki, and Sendo have become prominent players in the Vietnamese smartphone market. These platforms offer a wide range of smartphone brands and models, providing consumers with a convenient way to explore, compare, and purchase devices online.

Key market players in the Vietnam Smartphone market include:

• Samsung Vina Electronics Co Ltd
• Guangdong OPPO Mobile Telecommunications Corp., Ltd,
• Apple Inc
• Vivo Communication Technology Co Ltd
• Xiaomi Corp
• Huawei Technologies Vietnam Co Ltd
• LG Electronics Vietnam Co Ltd
• Microsoft Corp
• Sony Electronics Vietnam Ltd
• HTC Corp     

Download Free Sample Report

Customers can also request 10% free customization in this report.

“Vietnam smartphone market is a dynamic and evolving sector driven by factors such as increasing disposable income, urbanization, youth demographics, and affordable smartphone options. The role of smartphones in Vietnamese society extends beyond communication, impacting various aspects of daily life. The market's future holds promise as it continues to adapt to changing consumer preferences and technological advancements.” said Mr. Karan Chechi, Research Director with TechSci Research, a research-based Global management consulting firm.

“Vietnam Smartphone Market By Operating System (Android, iOS and Others (Windows, Blackberry, etc.)), By Display Technology (AMOLED, OLEO, LCD, Others (FHD+, LCD+FHD)), By Sales Channel (Supermarkets/Hypermarkets, Multi-Brand Stores, Exclusive Stores, Online, Others), By Region, Competition, Forecast and Opportunities, 2019-2029F”, has evaluated the future growth potential of Vietnam smartphone market and provides statistics and information on market structure, size, share, and future growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in the Vietnam smartphone market.

Contact

Techsci Research LLC

420 Lexington Avenue, Suite 300,

New York, United States- 10170

Tel: +13322586602

Email: [email protected]               

Website: www.techsciresearch.com