Vietnam Telecom Market to Gain from Rising Need for Smart Grids
The increasing need for high-speed connectivity
services and rising investments in 5G infrastructure are likely to boost the
Vietnam Telecom Market during the forecast period.
According to the TechSci Research report, “Vietnam
Telecom Market - By Region, Competition, Forecast & Opportunities, 2028,”
the rising population and the high adoption of mobile phone services are
boosting the telecom market in Vietnam. The rise in initiatives taken by the
government to boost the digital economy and bring the fourth industrial
revolution to the country is expected to propel the market as well.
Customers' rising demand for high-speed connectivity
services and the increasing investment in the construction of 5G infrastructure
both contribute to the telecom market's expansion in Vietnam. For example, in
2022, Viettel and Samsung Electronics worked together to launch 5G commercial
testing in Da Nang, Vietnam. Customers will be able to access high-performance
and cutting-edge 5G services, thanks to the agreement. Government networks will
be upgraded to 5G from 3G and 4G. The government intends to create a network
infrastructure to offer clients high-speed connectivity services as part of its
National Digital Transformation Program. For instance, the 6G wireless
communications technologies are where the Ministry of Information and
Communications (MIC) of Vietnam wants to concentrate its efforts.
The Vietnamese telecom market has extended because of
growing cell phone administration reception, further developed correspondence administrations,
and the developing populace. Regulating bodies, which are crucial to the
country's 5G network adoption, would encourage the rise even more. The
government has ambitious plans to upgrade its network coverage from 3G and 4G
to 5G. For example, the Service of Data and Correspondences (MIC) guaranteed
finishing to finish the establishment of 5G stations with download and transfer
paces of 900 Mbps and 60 Mbps utilizing open radio access organization (ORAN)
innovation. The top OTT streaming service in rural Vietnam was YouTube, with a
40% market share, according to the GroupM Vietnam survey. The regional platform
FPT Play was the second-most popular OTT service, used by 27% of respondents.
This suggests that Pay-Tv service revenue is expected to decrease over the next
five years as a result of a gradual decline in DTH subscribers and the
emergence of competition from OTT service providers.
Browse over XX market data Figures spread through 70
Pages and an in-depth TOC on the “Vietnam Telecom Market.”
The Vietnam telecom market is segmented by type,
service type, equipment, deployment, application, and region. Based on type,
the market is segmented into wireless telecommunication carriers, wired
telecommunication carriers, communication hardware, satellite, and
telecommunication resellers. Based on service type, the market is segmented
into managed data centers, managed network services, managed data &
information services, managed mobility services, managed communications
services, and managed security services. Based on equipment, the market is
segmented into networking equipment, transmitting devices, and end-point
devices. Based on deployment, the market is segmented into on-premises and
cloud. Based on application, the market is segmented into household and
commercial.
The demand for over-the-top (OTT) services will rise
considerably as more people subscribe to mobile devices. As an illustration,
DatVietVAC introduces VieON (video-on-demand and television service) in
Vietnam. Customers can access on-demand video services from international OTT
platforms, such as Netflix and Amazon Prime, which opens up fresh growth
prospects for the Vietnam OTT services market. Service providers are
increasingly focusing on research and development processes to boost market
growth. To meet evolving customer demand concerning better efficiency and
durability, several Telecom service providers are coming up with
technologically advanced offerings.
Key market players in the Vietnam Telecom Market
include:
- AT&T
- EVNTelecom
- Viettel Group
- Vietnam Mobile Telecom Services
- Vinaphone
- Vietnam Posts and Telecommunications Group
- GTel Mobile JSC
- FPT Corporation
- NamVietNet Telecommunication Service Joint Stock
Company
- Saigon Post and Telecommunications Services
Corporation
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“Upcoming plans for developing smart cities,
start-ups, and the National Innovation Network Program, using advanced
technologies, such as the IoT, are expected to contribute significantly to the
Vietnam telecom market. The development of smart cities in Vietnam, such as
Dragon Smart City in the central coastal city of Da Nang, BRG Smart City in
Hanoi, and Ecopark Smart City in the northern province of Hung Yen, with
increased convenience, safety, and availability of integrated services to
residents is expected to propel the country’s economy. The government is
encouraging foreign investments to upgrade the 5G network and provide equipment
and infrastructure for value-added services. Foreign exporters are also
encouraged to partner with established network operators to offer 3G,4G, and 5G
internet services,” said Mr. Karan Chechi, Research Director at TechSci
Research, a research-based global management consulting firm.
Vietnam Telecom Market –By Type (Wireless
Telecommunication Carriers, Wired Telecommunication Carriers, Communication
Hardware, Satellite, Telecommunication Resellers), By Service Type (Managed
Data Centre, Managed Network Services, Managed Data & Information Services,
Managed Mobility Services, Managed Communications Services, Managed Security
Services), By Equipment (Networking Equipment, Transmitting Device, End Point
Device), By Deployment (On-Premises, Cloud), By Application (Household,
Commercial), By Region, Competition, Forecast & Opportunities, 2028 has evaluated
the future growth potential of Vietnam Telecom Market and provides statistics
and information on market structure, size, share, and future growth. The report
is intended 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 present in the Vietnam Telecom Market.
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