Vietnam ICT Market Size, Share, Industry Trends, Growth And Report 2025-2033

Base Year: 2024

Historical Years: 2019-2024

Forecast Years: 2025-2033

Market Size in 2024: USD 11.37 Billion

Market Forecast in 2033:USD 40.32 Billion

Market Growth Rate (2025-33): 13.6%

The Vietnam ICT market size was valued at USD 11.37 Billion in 2024. Looking forward, IMARC Group estimates the market to reach USD 40.32 Billion by 2033, exhibiting a CAGR of 13.6% during 2025-2033. E-commerce expansion, digital payments, remote work, and rising cyber threats are key contributors of the market growth. Concurrent with this, rapid digital transformation, the dominance of hardware segment, and the rollout of 5G networks are driving the growth of Vietnam ICT market share. Further, the growing need to protect sensitive data and infrastructure is accelerating the development of this market.

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Vietnam ICT Market Trends and Drivers:

The Vietnamese ICT market is experiencing profound transformation driven by an unprecedented surge in cloud computing adoption, fundamentally reshaping enterprise IT infrastructure. Fueled by rapid digitalization mandates across government (e.g., National Digital Transformation Program) and private sectors seeking agility, scalability, and cost efficiency, demand for IaaS, PaaS, and SaaS solutions is skyrocketing. Local and global hyperscalers (VNPT, Viettel, FPT, AWS, Microsoft Azure, Google Cloud) are aggressively expanding data center capacity and localized services to meet this demand, with the cloud market projected to exceed USD $1.2 billion by the end of 2024, growing at a CAGR exceeding 25%. Future demand hinges on overcoming persistent challenges: addressing complex data residency and sovereignty regulations (notably the recently issued Personal Data Protection Decree), bridging significant cloud security skills gaps, and developing robust hybrid/multi-cloud management frameworks. Enterprises increasingly seek tailored industry-specific solutions (e.g., cloud-native fintech platforms, AI-powered manufacturing analytics) and seamless integration between on-premises legacy systems and cloud environments. This dynamic underscores a critical shift from mere migration to strategic cloud optimization as a core business enabler.

Vietnam's burgeoning digital economy faces escalating cyber threats, driving a critical market dynamic where cybersecurity is no longer optional but foundational. The country witnessed a staggering 65% year-on-year increase in sophisticated cyberattacks in 2023, including targeted ransomware against critical infrastructure, supply chain compromises, and surging AI-powered phishing. This threat landscape, coupled with stringent new regulations like the revised Cybersecurity Law and mandatory incident reporting requirements, compels organizations across banking, energy, and e-commerce to significantly elevate security investments. Demand is rapidly shifting beyond traditional firewalls and antivirus towards advanced solutions: AI/ML-driven threat detection and response (XDR), Zero Trust architectures, comprehensive cloud security postures (CSPM, CWPP), and proactive threat intelligence services. The cybersecurity market is consequently expanding rapidly, estimated to grow well over 20% annually, driven by urgent needs for data protection, operational continuity, and regulatory compliance. Future demand will focus heavily on integrated security platforms, robust identity and access management (IAM), enhanced OT/IoT security for smart manufacturing, and building indigenous threat research and incident response capabilities within Vietnam's growing MSSP ecosystem.

Vietnam is rapidly transitioning from a low-cost electronics assembler to a strategically vital player in the global semiconductor and high-tech electronics value chain, creating a powerful ICT market dynamic. Major global players (Samsung, Intel, Amkor, Synopsys) are making multi-billion dollar investments in expanding advanced chip packaging, testing, and design facilities, driven by geopolitical supply chain diversification needs (“China+1”) and Vietnam's improving infrastructure, competitive labor costs with growing technical skills, and favorable trade agreements. The government actively fuels this via substantial incentives, specialized high-tech park development (e.g., VSIP III), and ambitious initiatives to train 50,000 semiconductor engineers by 2030. This surge directly stimulates demand for specialized ICT: advanced EDA tools, high-precision manufacturing execution systems (MES), industrial IoT for smart factories, and sophisticated supply chain management software. Future demand will intensify for R&D collaboration platforms, AI-driven chip design optimization, and robust cybersecurity for sensitive IP protection within manufacturing environments. This trajectory positions Vietnam not just for assembly growth but for capturing higher-value segments in design and potentially niche fabrication, demanding continuous upskilling and robust digital infrastructure support.

Vietnam ICT Market Industry Segmentation:

Analysis by Type:

• Hardware
  • Network Switches
  • Routers and WLAN
  • Servers and Storage
  • Others
• Software
• IT and Infrastructure Services
• Telecommunication Services

Analysis by Industry Vertical:

• BFSI
• IT and Telecom
• Government
• Retail and E-commerce
• Manufacturing
• Energy and Utilities
• Others

Regional Insights:

• Northern Vietnam
• Central Vietnam
• Southern Vietnam

Competitive Landscape:

The competitive landscape of the industry has also been examined along with the profiles of the key players.

• Microsoft Corporation
• Cisco Systems Inc.
• Oracle Corporation
• VMware, Inc.
• SAP SE
• Dell Technologies
• HP Inc.
• IBM Corporation
• Viettel
• Qualcomm Technologies, Inc.

Key highlights of the Report:

• Market Performance (2019-2024)
• Market Outlook (2025-2033)
• COVID-19 Impact on the Market
• Porter's Five Forces Analysis
• Strategic Recommendations
• Historical, Current and Future Market Trends
• Market Drivers and Success Factors
• SWOT Analysis
• Structure of the Market
• Value Chain Analysis
• Comprehensive Mapping of the Competitive Landscape

Note: If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.

About Us:

IMARC Group is a global management consulting firm that helps the world's most ambitious changemakers to create a lasting impact. The company provide a comprehensive suite of market entry and expansion services. IMARC offerings include thorough market assessment, feasibility studies, company incorporation assistance, factory setup support, regulatory approvals and licensing navigation, branding, marketing and sales strategies, competitive landscape and benchmarking analyses, pricing and cost research, and procurement research.

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