The scale of the cloud computing market in Vietnam is currently only over 50% compared to some countries in the region. However, Vietnam is considered to have the fastest growth rate in Southeast Asia and ranked 3rd in Asia in 2023 (up 19%). This information was shared at the Data Center & Cloud Infrastructure Summit on the morning of March 18.

A report recently published by Viettel shows that the scale of the cloud computing service market in Vietnam can maintain a growth rate of 11-12%/year and will reach a scale of over $1.2 billion by 2030.

Statistics show that the global data center market size is currently around $70 billion, with a stable compound annual growth rate (CAGR) of 14.7% over the past 10 years. Asia Pacific (APAC) is currently the region with the highest data center development rate compared to other regions. The market size in Asia reached about $30 billion, with a CAGR of 18.9% to 2028.

The Asia Pacific cloud market has a high growth rate thanks to the rapid and strong industrialization process. In addition, government initiatives and support, clear awareness of digital transformation in businesses, increasing investment in IT infrastructure, and the shift of industry into emerging markets are also factors contributing to this result.

According to Viettel IDC, the Data Center (DC) service is shifting from the primary market (developed countries) to the secondary market (developing countries), including Vietnam. Vietnam is considered a potential market for data center services with many advantages such as cheap labor costs, low construction costs, and a large population... but it is growing slower due to certain barriers. One of them is that the lack of and unstable undersea fiber optic cable connections has prevented Vietnam's DC service from exploding as expected.

However, experts believe that the Vietnamese cloud computing market will recover in Q4/2024 and the period 2025-2026 will start to develop upward.

(According to Vietnamnet)