Report Description

Forecast Period


Market Size (2022)

USD 445.85 Million

CAGR (2023-2028)


Market Size (2028)

USD 771.08 Million

Fastest Growing Segment

Hybrid Cloud

Largest Market

Northern Vietnam

Vietnam Cloud Services Market is anticipated to grow at a high CAGR in the forecast period 2024-2028. The Vietnam Cloud Service Market is expected to grow in the forecast period owing to the adoption of cloud services such as Infrastructure-as-a-Service, Software-as-a-Services, etc., and growing number of small & medium-sized enterprises. Moreover, the demand for enterprise mobility along with rising need for data storage is further anticipated to drive growth in the Vietnam Cloud Service Market in the coming years. Additionally, cloud is cost-efficient as firms are not required to invest in the installation of any hardware or software. Owing to the prominent growth opportunities in the country, many foreign players are eager to enter the Vietnam Cloud Service Market. For instance, in March 2021, Korean telecommunications company KT Corporation announced that it will enter the B2B cloud computing market in Vietnam. It has signed a memorandum of understanding (MoU) with FPT Smart Cloud, an affiliate of FPT Group, a leader in Vietnam's ICT environment.

The term "cloud service" refers to a wide range of services delivered on demand to companies and customers over the internet. These services are designed to provide easy, affordable access to applications and resources, without the need for internal infrastructure or hardware. Cloud computing vendors and service providers fully manage cloud services. They are made available to customers through the servers, so there is no need for a company to host the applications on its own on-premises servers.

Entrance of Leading Cloud Service Provider in Market is Driving the Market in the Forecast Period

Many global cloud service providers, like Google, Amazon Web Services (AWS), and Alibaba, have entered the market due to the pandemic's expansion in Vietnam's IT sector. Additionally, these main firms are making investments in this unexplored industry to develop innovations that will assist their partners and clients work more efficiently. Additionally, it assists them in developing new revenue sources for long-term, sustainable growth. For instance, Amazon Web Services (AWS) declared in May 2021 that the creator of the alternative food delivery app "Robinhood" had chosen AWS as its cloud provider to boost efficiency, creativity, and agility. The Robinhood app utilized AWS' unrivalled portfolio of cloud services, which includes databases (Amazon Aurora MySQL), computers and machine learning platform (Amazon Sage Maker), and containers (Amazon EKS). As a result, it is the first app in Thailand to not charge application or gross profit fees to small food vendors, a sector that is experiencing economic difficulties due to the pandemic, driving the Vietnam Cloud Services Market.

Rising Government Initiatives is Fueling the Market Growth

The Vietnamese government highly values the cloud computing infrastructure. The Ministry of Information and Communications (MIC) in Vietnam released technical criteria to evaluate and select cloud computing solutions for e-government/e-governance in April 2020 to hasten the development of cloud computing platforms, which serve as a crucial foundation for national digital transformation. Five Vietnamese companies who have cloud computing platforms that meet these technical requirements to support e-government and e-governance have received certificates from the MIC. These platforms include the BizFly cloud computing platform, the Viettel cloud platform, the VNPT cloud platform, the VNG cloud platform, and the CMC cloud platform, driving the Vietnam Cloud Services Market.

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Market Segments

The Vietnam Cloud Services market is segmented into service type, type, organization type, end-use, and region. Based on service type, the market is segmented into Infrastructure as a Service, Software as a Service, and Platform as a Service. Based on type, the market is divided into public cloud, private cloud, and hybrid cloud. Based on organization type, the market is separated into SMEs, large enterprises, and public administration. Based on end-use, the market is segmented into banking, financial services & insurance (BFSI), healthcare, retail & warehousing, manufacturing, IT & telecom, media & entertainment, public & government, and others. The market analysis also studies the regional segmentation to devise regional market segmentation, divided among Northern Vietnam, Southern Vietnam, and Central Vietnam.

Market Players

Major market players of Vietnam Cloud Services Market are FPT Corporation, Viettel-CHT Ltd. Co., CMC Corporation, IBM Vietnam Company Ltd., Microsoft Vietnam Limited Liability Company, Amazon Web Services Vietnam Company Limited, Mat Bao Corporation, NTC Cloud Computing Company Limited, SAP Vietnam Co. Ltd., HPT Vietnam Corporation, Google LLC,, Inc. To achieve good market growth, businesses are actively employing organic tactics such as product launches, mergers, and partnerships.

Recent Development

  • In November 2018, Mat Bao Corporation partnered with Microsoft to provide Microsoft cloud solutions in Vietnam.
  • In March 2019, Google announced a program to help Vietnamese start-ups. Under this program, Google aims to help users to develop start-ups with Google’s infrastructure and tools, which would help Vietnam to improve its position on global start-up map.



Base Year


Historic Data

2018 – 2021

Estimated Year


Forecast Period

2024 – 2028

Quantitative Units

Revenue in USD Million, and CAGR for 2018-2022 and 2023-2028

Report coverage

Revenue forecast, company share, growth factors, and trends

Segments covered

By Service Type

By Type

By Organization Type

By End-Use

By Region

Regional scope

Western Region, Northern & Central Region, Eastern Region, Southern Region

Key companies profiled

FPT Corporation, Viettel-CHT Ltd. Co., CMC Corporation, IBM Vietnam Company Ltd., Microsoft Vietnam Limited Liability Company, Amazon Web Services Vietnam Company Limited, Mat Bao Corporation, NTC Cloud Computing Company Limited, SAP Vietnam Co. Ltd., HPT Vietnam Corporation, Google LLC,, Inc.

Customization scope

10% free report customization with purchase. Addition or alteration to country, regional & segment scope.

Pricing and purchase options

Avail customized purchase options to meet your exact research needs. Explore purchase options

Delivery Format

PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)

Report Scope:

In this report, Vietnam Cloud Services Market has been segmented into following categories, in addition to the industry trends which have also been detailed below:

  • Vietnam Cloud Services Market, By Service Type
    • Infrastructure as a Service
    • Software as a Service
    • Platform as a Service
  • Vietnam Cloud Services Market, By Type
    • Public Cloud
    • Private Cloud
    • Hybrid Cloud
  • Vietnam Cloud Services Market, By Organization Type
    • SMEs
    • Large Enterprises
    • Public Administration
  • Vietnam Cloud Services Market, By End-Use
    • Banking, Financial Services & Insurance (BFSI)
    • Healthcare
    • Retail & Warehousing
    • Manufacturing
    • IT & Telecom
    • Media & Entertainment
    • Public & Government
    • Others
  • Vietnam Cloud Services Market, By Region:

o   Northern Vietnam

o   Southern Vietnam

o   Central Vietnam

Competitive Landscape

Company Profiles: Detailed analysis of the major companies present in Vietnam Cloud Services Market

Available Customizations:

Vietnam Cloud Services Market with the given market data, Tech Sci Research offers customizations according to a company’s specific needs. The following customization options are available for the report:

Company Information

  • Detailed analysis and profiling of additional market players (up to five).

Vietnam Cloud Services Market is an upcoming report to be released soon. If you wish an early delivery of this report or want to confirm the date of release, please contact us at [email protected]

Table of content

1.    Service Overview

1.1.  Market Definition

1.2.  Scope of the Market

1.2.1. Markets Covered

1.2.2. Years Considered for Study

1.2.3. Key Market Segmentations

2.    Research Methodology

2.1.  Objective of the Study

2.2.  Baseline Methodology

2.3.  Key Industry Partners

2.4.  Major Association and Secondary Sources

2.5.  Forecasting Methodology

2.6.  Data Triangulation & Validation

2.7.  Assumptions and Limitations

3.    Executive Summary

4.    Voice of Customer

5.    Vietnam Cloud Services Market Outlook

5.1.  Market Size & Forecast

5.1.1. By Value

5.2.  Market Share & Forecast

5.2.1. By Service Type (Infrastructure as a Service, Software as a Service and Platform as a Service)

5.2.2. By Type (Public Cloud, Private Cloud, and Hybrid Cloud)

5.2.3. By Organization Type (SMEs, Large Enterprises, Public Administration)

5.2.4. By End-Use (Banking, Financial Services & Insurance (BFSI), Healthcare, Retail & Warehousing, Manufacturing, IT & Telecom, Media & Entertainment, Public & Government, Others)

5.2.5. By Region (Northern Vietnam, Southern Vietnam, Central Vietnam)

5.3.  By Company

5.4.  Market Map

6.    Northern Vietnam Region Market Outlook

6.1.  Market Size & Forecast

6.1.1. By Value

6.2.  Market Share & Forecast

6.2.1. By Service Type

6.2.2. By Type

6.2.3. By Organization Type

6.2.4. By End-Use

7.    Southern Vietnam Region Market Outlook

7.1.  Market Size & Forecast

7.1.1. By Value

7.2.  Market Share & Forecast

7.2.1. By Service Type

7.2.2. By Type

7.2.3. By Organization Type

7.2.4. By End-Use

8.    Central Region Market Outlook

8.1.  Market Size & Forecast

8.1.1. By Value

8.2.  Market Share & Forecast

8.2.1. By Service Type

8.2.2. By Type

8.2.3. By Organization Type

8.2.4. By End-Use

9.    Market Dynamics

9.1.  Drivers

9.2.  Challenges

10.  Market Trends & Developments

11.  Policy & Regulatory Landscape

12.  Vietnam Economic Profile

13.  Company Profiles

13.1.   FPT Corporation

13.1.1.              Business Overview

13.1.2.              Key Revenue (If Available)

13.1.3.              Recent Developments

13.1.4.              Key Personnel

13.1.5.              Key Product/Service Offered

13.2.   Viettel-CHT Ltd. Co.

13.2.1.              Business Overview

13.2.2.              Key Revenue (If Available)

13.2.3.              Recent Developments

13.2.4.              Key Personnel

13.2.5.              Key Product/Service Offered

13.3.   CMC Corporation

13.3.1.              Business Overview

13.3.2.              Key Revenue (If Available)

13.3.3.              Recent Developments

13.3.4.              Key Personnel

13.3.5.              Key Product/Service Offered

13.4.   IBM Vietnam Company Ltd.

13.4.1.              Business Overview

13.4.2.              Key Revenue (If Available)

13.4.3.              Recent Developments

13.4.4.              Key Personnel

13.4.5.              Key Product/Service Offered

13.5.   Microsoft Vietnam Limited Liability Company

13.5.1.              Business Overview

13.5.2.              Key Revenue (If Available)

13.5.3.              Recent Developments

13.5.4.              Key Personnel

13.5.5.              Key Product/Service Offered

13.6.   Amazon Web Services Vietnam Company Limited

13.6.1.              Business Overview

13.6.2.              Key Revenue (If Available)

13.6.3.              Recent Developments

13.6.4.              Key Personnel

13.6.5.              Key Product/Service Offered

13.7.   Mat Bao Corporation

13.7.1.              Business Overview

13.7.2.              Key Revenue (If Available)

13.7.3.              Recent Developments

13.7.4.              Key Personnel

13.7.5.              Key Product/Service Offered

13.8.   NTC Cloud Computing Company Limited

13.8.1.              Business Overview

13.8.2.              Key Revenue (If Available)

13.8.3.              Recent Developments

13.8.4.              Key Personnel

13.8.5.              Key Product/Service Offered

13.9.   SAP Vietnam Co. Ltd.

13.9.1.              Business Overview

13.9.2.              Key Revenue (If Available)

13.9.3.              Recent Developments

13.9.4.              Key Personnel

13.9.5.              Key Product/Service Offered

13.10. HPT Vietnam Corporation

13.10.1.            Business Overview

13.10.2.            Key Revenue (If Available)

13.10.3.            Recent Developments

13.10.4.            Key Personnel

13.10.5.            Key Product/Service Offered

14.  Strategic Recommendations

15.  About Us & Disclaimer

(Note: The companies list can be customized based on the client requirements.)

Figures and Tables

Frequently asked questions


The demand for digital transformation, massive potential of hybrid cloud, and the launch of 5G technology are the major drivers for the growth of Vietnam Cloud Service Market.


Western region is the fastest-growing region in the Cloud Services market due to developing IT industries and various government initiatives.


The Cloud Services provides easy data management without the need of downloading the data onto the local system. Moreover, more flexibility and reliability, increased performance and efficiency, and helps to lower IT costs.


Key market players of Vietnam Cloud Services Market are FPT Corporation, Viettel-CHT Ltd. Co., CMC Corporation, IBM Vietnam Company Ltd., Microsoft Vietnam Limited Liability Company, Amazon Web Services Vietnam Company Limited, Mat Bao Corporation, NTC Cloud Computing Company Limited, SAP Vietnam Co. Ltd., HPT Vietnam Corporation, Google LLC,, Inc.


Sakshi Bajaal

Business Consultant
Press Release

Vietnam Cloud Services Market to be Driven by the Growing Adoption of Vertical Cloud Services by 2028

May, 2023

Accelerating digital transformation across the country is driving the Vietnam Cloud Services market in the forecast period 2024- 2028.