Vietnam cloud services market in numbers

The rapid adoption of cloud services in recent years is aiding digital transformation in Vietnam. As demand for agility, productivity, and storage efficiency grows across all sectors, they push organizations in the country to transform their IT infrastructure, thereby opening up a broad range of opportunities for foreign firms.

According to Vice President of Google Stephanie Davis, Vietnam has the fastest-growing digital economy in Southeast Asia. Furthermore, the cloud computing market in recent years recorded a CAGR of nearly 30 percent in Vietnam, according to the MIC.

In 2020, Vietnam’s cloud service market reached US$196 million and is anticipated to have a CAGR of 18.8 percent up to 2026, according to Research and Markets.

With regard to the cloud readiness of Vietnamese enterprises, an EY survey found that 84 percent of the respondents said their organization has a cloud migration strategy. One of the most significant driving factors for these firms to adopt cloud technology is to improve their operational performance.
Source: Vietnam briefing