Vietnam Data Center Market Size More Than Doubles to Reach USD 1.1 Billion by 2029

Published | 28 September 2023

Vietnam data center market is flourishing due to increasing digitalization, rising demand for cloud services, expanding e-commerce sector, government support for IT infrastructure, and foreign investments.  

BlueWeave Consulting, a leading strategic consulting and market research firm, in its recent study, estimated the Vietnam data center market size at USD 557.43 million in 2022. During the forecast period between 2023 and 2029, BlueWeave expects the Vietnam data center market size to grow at a double-digit CAGR of 10.8% reaching a value of USD 1,142.79 million by 2029. The Vietnam data center market is expanding rapidly as a result of rising digitization, cloud usage, and data-driven services. The increased need for dependable and effective data storage solutions has resulted in increased infrastructure investment from both domestic and international firms. The country's strategic position, favorable economic conditions, and supporting government measures all contribute to the growth of data centers. As internet usage grows, businesses prioritize data security and low latency, accelerating industry growth. However, energy restrictions and regulatory difficulties must be addressed. Overall, the data center market in Vietnam is rapidly expanding, spurred by technology improvements and changing business landscapes.

Vietnam Data Center Market – Overview

A data center is a central location that houses a network of computing resources such as servers, storage systems, networking equipment, and security devices. It is intended for storing, processing, managing, and distributing massive amounts of data and applications for a variety of uses including cloud computing, corporate operations, and research. To ensure continuous operation, data centers include high levels of redundancy, cooling, and security. They play an important role in modern IT infrastructure, allowing businesses to manage and access digital information more efficiently while supporting the expanding demands of technology-driven services and applications.

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Impact of COVID-19 on Vietnam Data Center Market

The COVID-19 pandemic catalyzed significant shifts in Vietnam's data center market. With heightened reliance on digital infrastructure, demand surged for cloud services, remote work solutions, and e-commerce platforms. Lockdowns accelerated digital transformation among businesses, fostering greater data storage needs. The market saw increased investment in robust data center facilities to accommodate the evolving landscape. However, supply chain disruptions and labor challenges posed hurdles. As the pandemic highlighted the critical role of data centers, Vietnam's market adapted to new norms, blending growth opportunities with operational resilience in an ever-changing global environment.

Vietnam Data Center Market – By End User

Based on end user, Vietnam data center market is divided into BFSI, IT & Telecom, Government, and Energy & Utilities segments. The information technology (IT) & telecommunications segment is the largest end user in the Vietnam data center market. IT and telecommunication organizations need a strong data center infrastructure to support their operations and rising client base as a result of the ongoing digital transformation. This market covers a wide range of services, such as network connectivity, cloud computing, and data storage. The IT and telecom industry's reliance on data centers becomes crucial as the demand for fast, seamless connectivity grows. These infrastructures guarantee effective data processing, decreased latency, and dependable service provision.

Competitive Landscape

Vietnam data center market is fiercely competitive. Major companies in the market include FPT Telecom, Viettel IDC, CMC Corporation, VNPT Data, VNG Cloud, MatBao, CMC Telecom, KDDI Vietnam, Hanel One, and SCTV Co. Ltd. These companies use various strategies, including increasing investments in their R&D activities, mergers, and acquisitions, joint ventures, collaborations, licensing agreements, and new product and service releases to further strengthen their position in Vietnam data center market.

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The in-depth analysis of the report provides information about growth potential, upcoming trends, and statistics of Vietnam Data Center Market. It also highlights the factors driving forecasts of total market size. The report promises to provide recent technology trends in Vietnam Data Center Market and industry insights to help decision-makers make sound strategic decisions. Furthermore, the report also analyzes the growth drivers, challenges, and competitive dynamics of the market.

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