The Vietnam IT Services Market is Segmented by Service Type (IT Consulting and Implementation, IT Outsourcing, Business Process Outsourcing, and More), End-User Enterprise Size (Small and Medium Enterprises and Large Enterprises), and End-User Vertical (BFSI, Manufacturing, Government and Public Sector, Healthcare and Life-Sciences, Retail and Consumer Goods, and More). The Market Forecasts are Provided in Terms of Value (USD).

Vietnam IT services market size is projected to exhibit a growth rate (CAGR) of 10.93% during 2025-2033. The increasing demand for cloud services and big data analytics, the rising need for more reliable and scalable data processing and storage facilities and stringent regulatory compliance represent some of the key factors driving the market.

IMARC Group provides an analysis of the key trends in each segment of the market, along with forecasts at the country level for 2025-2033. Our report has categorized the market based on service type, enterprise size, deployment mode, and end use industry.

The Vietnam ICT market exhibits robust growth, projected to reach $8.30 billion in 2025, expanding at a Compound Annual Growth Rate (CAGR) of 9.92% from 2025 to 2033. This significant expansion is fueled by several key drivers. Firstly, increasing government initiatives promoting digital transformation and infrastructure development are laying a solid foundation for technological advancements. Secondly, the rapid growth of e-commerce and digital services within the BFSI (Banking, Financial Services, and Insurance), IT & Telecom, and retail sectors is creating substantial demand for ICT solutions. Furthermore, a burgeoning young population with high smartphone penetration and internet usage is driving the adoption of advanced technologies. The market is segmented by type (hardware including network switches, routers, servers, and storage; software; IT and infrastructure services encompassing cloud solutions; and telecommunication services) and by industry vertical (BFSI, IT & Telecom, Government, Retail & E-commerce, Manufacturing, Energy & Utilities, and others). Leading players like Microsoft, Cisco, Viettel, and Qualcomm are actively shaping the market landscape through strategic investments and technological innovation. However, challenges remain, including infrastructure limitations in certain regions and the need for continuous skills development to support the growing technological demands. The forecast period of 2025-2033 promises continued expansion, driven by rising disposable incomes and increased government spending on digital infrastructure projects. This growth will likely be most pronounced in segments like cloud computing and software, reflecting the global shift towards digitalization. While challenges like cybersecurity threats and the digital divide need to be addressed, the overall outlook for the Vietnam ICT market remains positive, with substantial opportunities for both domestic and international players. The strong government support for digitalization, coupled with the dynamic private sector, ensures a favorable environment for sustained growth throughout the forecast period. The continuing expansion of 4G and 5G networks will further boost the market's growth potential, particularly within the telecommunication services sector. Recent developments include: July 2024: Google and the Vietnam National Innovation Centre (NIC) launched the 'Build for the AI Future' initiative to address challenges and promote comprehensive AI development in Vietnam. This comprehensive program was designed to accelerate the country's progress in AI through two strategies, including building talent and start-ups., April 2024: Alibaba, the global cloud service provider, announced plans to build a data center in Vietnam to store data locally due to compliance with legal requirements. The company relies on government-owned facilities.. Key drivers for this market are: Rising Smart City Initiatives Leading to Revamp of Technology Infrastructure, Digital Transformation and Industrial Automation; Increasing Investment on Key Technologies (Cloud Technology and Artificial Intelligence). Potential restraints include: Rising Smart City Initiatives Leading to Revamp of Technology Infrastructure, Digital Transformation and Industrial Automation; Increasing Investment on Key Technologies (Cloud Technology and Artificial Intelligence). Notable trends are: IT and Infrastructure Services (Including Cloud) Are Expected to Drive the Market.

Vietnam physical security market size reached USD 526.4 Million in 2024. Looking forward, IMARC Group expects the market to reach USD 1,940.6 Million by 2033, exhibiting a growth rate (CAGR) of 15.6% during 2025-2033. Numerous factors, such as the growing digitization, widespread adoption of cloud-based data storage, and the increasing demand for video surveillance solutions to efficiently monitor extensive areas, are primarily propelling the market growth.

IMARC Group provides an analysis of the key trends in each segment of the market, along with forecasts at the country level for 2025-2033. Our report has categorized the market based on component, enterprise size, and industry vertical.

The Vietnam ICT Market Report is Segmented by Type (IT Hardware, IT Software, IT Services, IT Infrastructure, Communication Services), End-User Enterprise Size (Small and Medium Enterprises, Large Enterprises), End-User Industry Vertical (Government and Public Administration, BFSI, Energy and Utilities, Retail, E-Commerce and Logistics, and More). The Market Forecasts are Provided in Terms of Value (USD).

The Vietnam Seed market report offers a thorough competitive analysis, mapping key players’ strategies, market share, and business models. It provides insights into competitor dynamics, helping companies align their strategies with the current market landscape and future trends.

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Vietnam Retail Market Size 2025-2029

The Vietnam retail market size is forecast to increase by USD 278.7 billion, at a CAGR of 14.7% between 2024 and 2029. The Vietnam Retail Market is segmented by distribution channel (Offline, Online), type (Grocery, Electronics and Appliances, Home and Garden, Health and Beauty, Others), channel (Cash, Digital Payment, Buy Now Pay Later (BNPL)), store type (Supermarkets, Convenience Stores, Online, Specialty Stores), consumer segment (Urban Middle Class, Rural Consumers, Young Shoppers), and geography (APAC: Vietnam). This segmentation reflects the market's diversity, driven by strong demand for Grocery and Health and Beauty products among Urban Middle Class and Young Shoppers, growing Online channels with Digital Payment and BNPL options, and the dominance of Supermarkets and Convenience Stores for Offline purchases catering to both Rural Consumers and urban preferences across Vietnam in the APAC region.

Major Market Trends & Insights

Based on the Distribution Channel, the offline segment led the market and was valued at USD 212.20 billion of the global revenue in 2023.
Based on the Type, the Grocery segment accounted for the largest market revenue share in 2023.

Market Size & Forecast

Market Opportunities: USD 299.79 Billion
Future Opportunities: USD 278.7 Billion
CAGR (2024-2029): 14.7%

The market is experiencing significant growth, driven primarily by the increasing demand for convenience food products. This trend is closely linked to the emergence of urban lifestyles, as more consumers in Vietnam's cities seek out quick and easy meal solutions. However, this growth comes with challenges. Logistical and supply chain issues persist, posing significant obstacles for retailers looking to meet the surging demand for convenience foods. Efficiently managing the distribution and delivery of these products is essential for companies aiming to capitalize on this market opportunity and maintain a competitive edge. Navigating these challenges requires strategic planning and innovative solutions to ensure the timely and cost-effective delivery of convenience food products to consumers in Vietnam's urban areas. Companies that can effectively address these logistical hurdles will be well-positioned to thrive in this dynamic and expanding market.

What will be the size of the Vietnam Retail Market during the forecast period?

Explore in-depth regional segment analysis with market size data - historical 2019-2023 and forecasts 2025-2029 - in the full report.
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In Vietnam's dynamic retail market, pricing optimization plays a crucial role in staying competitive. Consumer spending habits continue to shape the industry, with franchise models adapting to local preferences. Sustainability initiatives and compliance standards are increasingly important, driving retailers to prioritize environmental impact and social responsibility. Merchandising strategies and sales forecasting help businesses optimize profit margins and performance metrics, while product recall procedures and food safety regulations ensure customer satisfaction and protect against product liability. E-commerce fraud and intellectual property rights pose challenges, necessitating robust risk management and business intelligence. Sales data analysis and employee training are essential for addressing inventory shrinkage and supply chain disruptions. The grocery segment is the second largest segment of the type and was valued at USD 101.20 billion in 2023.
Competitor mapping and store security systems are crucial for market penetration and maintaining regulatory compliance. Consumer confidence is influenced by economic indicators, with private label brands gaining popularity. Retailers must navigate complex import/export regulations and adhere to consumer protection laws. Adopting a proactive approach to corporate governance and regulations compliance is vital for long-term success. Market trends include a focus on food safety, sustainability, and digital transformation. Retailers must balance these priorities with managing their workforce, implementing merchandising strategies, and addressing product liability concerns. Effective risk management and supply chain resilience are essential for mitigating the impact of potential crises.

How is this market segmented?

The market research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'USD billion' for the period 2025-2029, as well as historical data from 2019-2023 for the following segments.

Distribution Channel

  Offline
  Online


Type

  Grocery
  Electronics and appliances
  Home and garden
  Health and beauty
  Others


Channel

  Cash
  Digital payment
  Buy now pay later (BNPL)


Store Type

  Supermarkets
  Convenience Stores
  Online
  Specialty Stores


Consumer Segment

  Urban Middle Class
  Rural Consumers

Vietnam personal care market was valued at USD 2,450 million in 2023 and is estimated to reach a value of USD 3,301 million by 2030 with a CAGR of 4.6% during the forecast period 2025-2030.

Vietnam Data Analytics Market was valued at USD 3.5 billion in 2023 and is anticipated to project robust growth in the forecast period with a CAGR of 10.2% through 2029.

Vietnam soup market size reached USD 48.7 Million in 2024. Looking forward, IMARC Group expects the market to reach USD 108.6 Million by 2033, exhibiting a growth rate (CAGR) of 9.31% during 2025-2033. The growing awareness about health and wellness among Vietnamese people, rising reliance one-commerce and online grocery shopping, and increasing preferences for eco-friendly product packaging options represent some of the key factors driving the market.

IMARC Group provides an analysis of the key trends in each segment of the market, along with forecasts at the country level for 2025-2033. Our report has categorized the market based on type, category, packaging, and distribution channel.

The Vietnam plastics market size was nearly 10.27 Million Tons in 2024. The market is estimated to grow at a CAGR of 8.40% during 2025-2034, to reach around 23.01 Million Tons by 2034.

The Vietnam warehousing market attained a value of USD 5.25 Billion in 2024. The market is expected to grow at a CAGR of 11.20% during the forecast period of 2025-2034. By 2034, the market is expected to reach USD 15.18 Billion.

A key driver of the Vietnam warehousing market is the deployment of fully automated robotic fleets in parcel sortation centres, which boosts throughput and operational precision in response to the surge in e-commerce. For example, in early 2025, the postal and courier firm Viettel Post deployed around 200 automated-guided vehicles (AGVs) across one of its Hanoi warehouses to sort packages for major online retailers. This innovation allows processing capacity to increase by roughly 3.5 times and cuts delivery times by 8-10 hours, aligning warehousing capabilities with Vietnam’s high-growth digital-commerce ecosystem.

The growth of the Vietnam warehouse market is further driven by strong economic growth. With rising manufacturing, retail and e-commerce, the demand for efficient storage and distribution is escalating. As per the General Statistics Office of Vietnam, Vietnam’s GDP was estimated to rise by 7.09% in 2024. Increasing foreign direct investment (FDI) and industrial production boost warehousing needs, particularly near manufacturing hubs and ports. This growth encourages developers and logistics firms to invest in modern warehouse infrastructure, supporting the country’s evolving supply chains.

The Vietnam warehousing industry is embracing technologies, such as warehouse management systems (WMS), automation, and robotics. These technologies improve inventory accuracy, reduce labour costs, and speed up operations. In August 2024, Nissin Logistics Vietnam partnered with MEKSMART to implement a custom NISSIN-WMS across their major warehouses in Binh Duong and Bac Ninh provinces. The push towards Industry 4.0 practices enables better supply chain visibility and efficiency. Although automation adoption is still in early stages compared to developed markets, rising labour costs and demand for high service quality encourage increased investment in tech-enabled warehouses.

Vietnam Cloud Gaming Market size was valued at around USD 2.64 million in 2024 and is projected to reach USD 11.05 million by 2030, at 22.60% CAGR (2025-2030).

The Vietnam liquid sugar market size is assessed to grow at a CAGR of 3.80% between 2025 and 2034. The market is expected to be driven by the growing demand for sugary beverages and the expansion of the foodservice sector in the country.

The size of the Vietnam Data Center Construction market was valued at USD XX Million in 2023 and is projected to reach USD XXX Million by 2032, with an expected CAGR of 8.84% during the forecast period. Recent developments include: September 2021: Viettel jointly conducted trials with Samsung in Da Nang, in early September 2021. Viettel partnered with Ericsson and Qualcomm to test and achieve 5G data transmission speeds over 4.7 Gbps., September 2021: VNPT upgraded its backbone and core networks, and developed 4G, 5G, and M2M/IoT platforms. It conducted commercial tests of 5G services and signed an agreement with Nokia to develop and apply new networking technologies.. Key drivers for this market are: Increased Migration to Cloud-based Business Operations, Rise of Green Data Centers; Government Support in the Form of Tax Incentives for Development of Data Centers. Potential restraints include: Higher Initial Investments and Low Availability of Resources. Notable trends are: Tier 3 is the Largest Tier Type.

The size of the Vietnam Data Center market was valued at USD XX Million in 2023 and is projected to reach USD XXX Million by 2032, with an expected CAGR of 15.20% during the forecast period. Recent developments include: September 2021: Viettel jointly conducted trials with Samsung in Da Nang. In early September 2021, Viettel partnered with Ericsson and Qualcomm to test and achieve 5G data transmission speeds over 4.7 Gbps.September 2021: VNPT upgraded its backbone and core networks, developed 4G, 5G and M2M/IoT platforms, conducted commercial tests of 5G services, and signed an agreement with Nokia to develop and apply new networking technologies.September 2019: In September 2019, HTC-ITC signed a contract with Delta Thailand to deploy a data center which complies with the Uptime Institute’s Tier 3 standards of Tier Certification of Data Center (TCDD) and Tier Certification of Constructed Data Center Facility (TCCF).. Key drivers for this market are: Increasing Need for Securing Confidential Data and Protection Against Data Loss, Growing Demand for Improving Archived Content across Channels; Ongoing efforts to promote Digitization at Workplaces. Potential restraints include: Transition from Legacy Systems Chips, Customization Challenges Leading to Implementation Issues. Notable trends are: OTHER KEY INDUSTRY TRENDS COVERED IN THE REPORT.

Vietnam gaming market size reached USD 1.2 Billion in 2024. Looking forward, IMARC Group expects the market to reach USD 2.5 Billion by 2033, exhibiting a growth rate (CAGR) of 7.50% during 2025-2033. The growing advancements in technology to offer immersive and visually stunning experiences, rising prevalence of microtransactions, downloadable content, and loot boxes, and increasing emergence of esports and professional leagues represent some of the key factors driving the market.

IMARC Group provides an analysis of the key trends in each segment of the market, along with forecasts at the country level for 2025-2033. Our report has categorized the market based on device type, platform, revenue, type, and age group.

The Vietnam Data Center Market Report is Segmented by Data Center Size (Large, Massive, Medium, Mega, and Small), Tier Type (Tier 1 and 2, Tier 3, and Tier 4), Data Center Type (Hyperscale/Self-built, Enterprise/Edge, and Colocation), End User (BFSI, IT and ITES, E-Commerce, Government, Manufacturing, Media and Entertainment, Telecom, and More), and Hotspot. The Market Forecasts are Provided in Terms of IT Load Capacity (MW).

The Vietnam infrastructure market size is estimated to grow at a CAGR of 6.60% in the forecast period of 2025-2034. The major market drivers are the growing urbanisation, rising foreign and domestic investment in infrastructure development, and favourable government incentives aimed at promoting economic growth.

The Vietnam e-commerce market reached approximately USD 13.10 Billion in 2024. The market is projected to grow at a CAGR of 12.40% between 2025 and 2034, reaching a value of around USD 42.16 Billion by 2034.