Market Size of Vietnam Telecom Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | 1.21 % |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Vietnam Telecom Market Analysis
The Vietnamese telecom market is expected to register a CAGR of 1.21% over the next five years. Most major telecom companies, such as Vietnamobile, Viettel, EVNTelecom, and AT&T, are based in Vietnam and promote innovation by making significant R&D investments consistently.
- The growing demand for high-speed connectivity services by customers and increasing spending on the deployment of 5G infrastructure positively influence the growth of the Vietnam telecom market. For instance, Samsung Electronics collaborated with Viettel to start 5G commercial trials in Da Nang, Vietnam. Through this partnership, high-performance and advanced 5G services can be offered to customers.
- The growth in the telecom industry is mainly due to the increasing population with the rising adoption of mobile phones that support 3G, 4G, and 5G services across the country. For instance, Infinera selected the Viettel Optical Timing Channel 2.0 (OTC2.0) solution to prepare the Vietnamese operator's synchronization network for a 5G pilot rollout.
- 5G services still need to be fully deployed in Vietnam, but key telecom operators have completed 5G demonstrations and trials over the past two years. For instance, MobiFone rolled out its 5G network trial in Hue.
- The government plans to upgrade its 3G and 4G networks to 5G. As part of its National Digital Transformation Programme, the government plans to develop a network infrastructure that provides high-speed connectivity services for customers. For instance, the Minister of Information and Communications (MIC) intends to focus on developing 6G wireless communications technologies.
- Due to the COVID-19 pandemic, a large portion of the Vietnamese population has been forced to spend almost constantly at home. Many people opt to work from home, and due to that, there is increased broadband consumption. Offering high-speed broadband services will further support the growth of the telecom market.
