Increasing adoption of cloud-based technologies and growing demand of data across various segments are expected to drive Vietnam data center market
According to TechSci Research report, “Vietnam Data Center Market By Solution (IT Infrastructure, Electrical Infrastructure, Mechanical Infrastructure, General Infrastructure and Others), By Type (Corporate and Web Hosting), By End User Industry (IT & Telecom, BFSI, Healthcare, Government and Others), By Region, Forecast & Opportunities, 2025”, Vietnam data center market stood at USD 728.48 Million in 2019 and is forecast to reach USD 1,641.04 Million by 2025 growing at a compound annual growth rate (CAGR) of 14.64% on account of growing demand for analytics in the country. With enhanced internet connectivity, IP traffic is growing at an exponential rate which is expected to boost the data center market of Vietnam. Digital transformation of Vietnam has generated the need for electronic devices which in turn is driving the data center market. In addition, research and development in the field of cloud computing and internet of things coupled with growing demand for inter-connected devices, Vietnam data center market is anticipated to witness significant growth in the next five year.
However, the higher cost of installation of devices and deployment of data centers might hinder the growth of the data center market in Vietnam. Also, high energy consumption associated with data center as well as regular maintenance of data center could negatively influence the data center market growth.
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Vietnam data center market is segmented based on solution, type, end user industry, region, and company. Based on end user industry, the market can be fragmented into IT & telecom, BFSI, healthcare, government, and others. Out of these, IT & telecom segment is expected to dominate the market through 2025. This can be ascribed to the enormous data being generated across this industry. Hence, the industry requires data centers to regulate the operations and bring down the overall operational costs.
FPT Corporation, Viettel – CHT Company Limited, Vietnam Posts and Telecommunications Group, KDDI Corporation, Hitachi Asia (Vietnam) Co. Ltd., Hewlett Packard Enterprise, SAP Vietnam Co. Ltd., IBM Vietnam Company Ltd., Microsoft Vietnam Limited Liability Company and Amazon Web Services Vietnam are some of the leading players operating in Vietnam data center market. The companies operating in the market are using strategies such as product launches, mergers and collaborations to boost their share. For instance, FPT Corporation has started working on Vietnam’s largest data center in Ho Chi Minh city in May 2020. The data center will cover 10,000 sq meter which will provide space for around 3,600 racks which is expected to complete in first quarter of 2021.
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“Vietnam data center market is expected to witness significant growth in the market owing to the improving IT infrastructure in the country. Additionally, implementation of green and sustainable data centers is further expected to create lucrative opportunities for the market growth through 2025. Expansion of data center market key players operating are expected to propel the market growth during the forecast period” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.
“Vietnam Data Center Market By Solution (IT Infrastructure, Electrical Infrastructure, Mechanical Infrastructure, General Infrastructure and Others), By Type (Corporate and Web Hosting), By End User Industry (IT & Telecom, BFSI, Healthcare, Government and Others), By Region, Forecast & Opportunities, 2025,” has evaluated the future growth potential of Vietnam data center market and provides statistics & information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges and opportunities in Vietnam data center market.
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