It is forecast that the scale of Vietnam’s cloud computing services market will reach more than 1.2 billion USD by 2030.
The scale of the cloud computing market in Vietnam is currently only over 50% of that of some countries in the region. However, Vietnam is considered to have the fastest growth rate in Southeast Asia and ranks 3rd in Asia in 2023 (up 19%). This is information just shared at the Data Center & Cloud Infrastructure Summit Conference on the morning of March 18.
A report just released by Viettel shows that the scale of Vietnam’s cloud computing services market will reach more than 1.2 billion USD by 2030. In this market segment, Vietnam will maintain a growth rate of 11 -12%/year from now until 2030.
Speaker shares information about Vietnam’s cloud computing market. Photo: Minh Son
Statistics show that the global data center market size is currently approximately 70 billion USD, with a stable compound growth rate over the past 10 years of about 14.7%.
Asia-Pacific (APAC) is currently the region with a much higher data center development rate than other regions. The scale of this market in Asia reaches about 30 billion USD, with a compound growth rate of 18.9% until 2028.
The Asia-Pacific cloud market has a large growth rate thanks to rapid and strong industrialization. In addition, government initiatives and support, clear awareness of digital transformation in businesses, growing investments in IT infrastructure, industrial shift into new markets floating… are also factors that impact this result.
According to Viettel IDC Director Hoang Van Ngoc, Data Center (DC) services are shifting from primary markets (developed countries) to secondary markets (developing countries), including There is Vietnam.
“Vietnam is considered a potential market for data center services but is always behind other countries. In terms of market size, Vietnam is currently only 1/15th of Singapore, 1/5th of Indonesia and Malaysia.“, Mr. Ngoc said.
Regarding the cause, according to the Director of Viettel IDC, Vietnam has the motivation to develop this market (low labor costs, cheaper construction costs than large population…) but growth is slower due to some factors. certain barriers. One of them is that the undersea fiber optic cable connection is both lacking and unstable, causing Vietnam’s data center services to not explode as expected.
However, Viettel IDC representative said that Vietnam’s cloud computing market is forecast to recover in the fourth quarter of 2024 and the period 2025-2026 will increase.