Vietnam Digital Advertising and Retail Media Market
Description
Vietnam Digital Advertising and Retail Media Market Overview
The Vietnam Digital Advertising and Retail Media Market is valued at USD 1.3 billion, based on a five-year historical analysis. This growth is primarily driven by the rapid increase in internet penetration—now exceeding 70%—widespread smartphone adoption, and the accelerated shift of traditional advertising budgets to digital platforms. The expansion of e-commerce, the dominance of social media, and the rising popularity of video content are further propelling demand for digital advertising solutions, with brands increasingly leveraging short-form and interactive video formats to engage Vietnam’s young, tech-savvy population .
Key cities dominating the market include Ho Chi Minh City and Hanoi, which serve as the economic and cultural hubs of Vietnam. These cities have a high concentration of businesses and consumers, making them attractive for digital advertising investments. The urban population's increasing digital engagement and the presence of major technology companies contribute to the market's growth in these regions .
The Ministry of Information and Communications issued Decree No. 13/2023/ND-CP on the Protection of Personal Data, which took effect in 2023. This regulation requires all digital advertising platforms operating in Vietnam to disclose their pricing models and performance metrics to advertisers, and to ensure compliance with data protection standards, thereby enhancing transparency, fair competition, and accountability in the market .
Vietnam Digital Advertising and Retail Media Market Segmentation
By Type:
The digital advertising market in Vietnam is segmented into Display Advertising, Search Advertising, Social Media Advertising, Video Advertising, Mobile Advertising, Native Advertising, Affiliate Marketing, and Others. Each segment addresses distinct advertising objectives and consumer behaviors, with platforms such as Facebook, TikTok, YouTube, and Google being central to campaign strategies. Social media and video advertising are particularly prominent, driven by high engagement among younger demographics and the growing influence of short-form video content .
By End-User:
The end-user segmentation of the digital advertising market includes Retail, Automotive, Travel and Tourism, Education, Healthcare, Technology, Financial Services, Consumer Goods, and Others. Each sector utilizes digital advertising to target specific audiences, with retail and technology sectors leading digital ad spend, followed by automotive and travel, as brands seek to maximize reach and conversion through data-driven, omnichannel strategies .
Vietnam Digital Advertising and Retail Media Market Competitive Landscape
The Vietnam Digital Advertising and Retail Media Market is characterized by a dynamic mix of regional and international players. Leading participants such as VNG Corporation, FPT Corporation, MobiFone, Viettel Media, Admicro, Yeah1 Network, Zalo, Tiki Corporation, Shopee Vietnam, Lazada Vietnam, MoMo, Sendo, VCCorp, Adtima, C?c C?c, Webrand Company Limited, Golden Communication Group, Mindshare Media Ltd, GroupM Vietnam, PMAX Corp., Appota Group, Dentsu Creative Vietnam, VTV Digital, Feedforce Vietnam contribute to innovation, geographic expansion, and service delivery in this space .
VNG Corporation
2004
Ho Chi Minh City, Vietnam
FPT Corporation
1988
Hanoi, Vietnam
MobiFone
1993
Hanoi, Vietnam
Viettel Media
2013
Hanoi, Vietnam
Admicro
2008
Hanoi, Vietnam
Company
Establishment Year
Headquarters
Group Size (Large, Medium, or Small as per industry convention)
Revenue Growth Rate
Market Share (%)
Customer Acquisition Cost (CAC)
Customer Retention Rate (%)
Average Campaign ROI (%)
Vietnam Digital Advertising and Retail Media Market Industry Analysis
Growth Drivers
Increasing Internet Penetration:
Vietnam's internet penetration rate reached approximately
78 million users
in future, representing about
78%
of the population. This growth is driven by affordable mobile data plans and expanding broadband infrastructure. The World Bank reported that Vietnam's internet users increased by
10 million
from 2022 to 2023, facilitating greater access to digital advertising platforms. As more consumers go online, businesses are increasingly investing in digital advertising to reach this expanding audience, enhancing market growth.
Rise of E-commerce Platforms:
The e-commerce sector in Vietnam is projected to generate around
$20.5 billion
in revenue by future, reflecting a significant increase from
$16 billion
in 2022. This surge is attributed to the growing number of online shoppers, which reached
57-60 million
in recent periods. The Vietnam E-commerce Association indicates that
about 75%
of internet users have made online purchases, prompting brands to allocate more resources to digital advertising strategies that target these consumers effectively, thus driving market expansion.
Growing Mobile Usage:
Mobile devices accounted for over
90%
of internet traffic in Vietnam in future, with smartphone penetration exceeding
74%
. The International Telecommunication Union reported that mobile subscriptions reached
over 130 million
, indicating a strong preference for mobile browsing and shopping. This trend encourages advertisers to optimize their campaigns for mobile platforms, leading to increased investments in mobile advertising solutions. As mobile usage continues to rise, it significantly contributes to the growth of the digital advertising market.
Market Challenges
Regulatory Compliance Issues:
The digital advertising landscape in Vietnam faces stringent regulatory compliance challenges, particularly concerning advertising standards and consumer protection laws. The Ministry of Information and Communications has implemented new regulations that require advertisers to adhere to specific guidelines, which can complicate campaign execution. Non-compliance can result in fines or bans, creating a challenging environment for businesses looking to navigate the evolving regulatory landscape effectively.
Data Privacy Concerns:
With the implementation of data protection laws, such as the Personal Data Protection Act, businesses in Vietnam must prioritize consumer privacy. The government reported that
about 60%
of consumers are concerned about how their data is used in advertising. This growing awareness can lead to hesitance in sharing personal information, limiting the effectiveness of targeted advertising campaigns. Companies must balance effective marketing strategies with compliance to maintain consumer trust and avoid legal repercussions.
Vietnam Digital Advertising and Retail Media Market Future Outlook
The Vietnam digital advertising and retail media market is poised for significant transformation as technological advancements and consumer behaviors evolve. The integration of artificial intelligence and machine learning will enhance targeting capabilities, allowing advertisers to deliver personalized content. Additionally, the increasing focus on sustainability in advertising practices will shape brand strategies. As the market adapts to these trends, businesses that leverage innovative technologies and prioritize consumer engagement will likely thrive in this dynamic environment, fostering long-term growth.
Market Opportunities
Expansion of Social Media Advertising:
With
about 75 million active social media users
in Vietnam, brands have a unique opportunity to engage consumers through targeted advertising. The rapid growth of platforms like Facebook and TikTok allows businesses to reach diverse demographics effectively. Investing in social media advertising can enhance brand visibility and drive sales, capitalizing on the increasing time users spend on these platforms.
Growth in Video Advertising:
Video content consumption in Vietnam is projected to reach
over 1 billion views per day
in future. This trend presents a lucrative opportunity for advertisers to create engaging video campaigns that resonate with audiences. As platforms like YouTube and TikTok continue to dominate, businesses can leverage video advertising to enhance brand storytelling and connect with consumers on a deeper level, driving higher engagement rates.
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The Vietnam Digital Advertising and Retail Media Market is valued at USD 1.3 billion, based on a five-year historical analysis. This growth is primarily driven by the rapid increase in internet penetration—now exceeding 70%—widespread smartphone adoption, and the accelerated shift of traditional advertising budgets to digital platforms. The expansion of e-commerce, the dominance of social media, and the rising popularity of video content are further propelling demand for digital advertising solutions, with brands increasingly leveraging short-form and interactive video formats to engage Vietnam’s young, tech-savvy population .
Key cities dominating the market include Ho Chi Minh City and Hanoi, which serve as the economic and cultural hubs of Vietnam. These cities have a high concentration of businesses and consumers, making them attractive for digital advertising investments. The urban population's increasing digital engagement and the presence of major technology companies contribute to the market's growth in these regions .
The Ministry of Information and Communications issued Decree No. 13/2023/ND-CP on the Protection of Personal Data, which took effect in 2023. This regulation requires all digital advertising platforms operating in Vietnam to disclose their pricing models and performance metrics to advertisers, and to ensure compliance with data protection standards, thereby enhancing transparency, fair competition, and accountability in the market .
Vietnam Digital Advertising and Retail Media Market Segmentation
By Type:
The digital advertising market in Vietnam is segmented into Display Advertising, Search Advertising, Social Media Advertising, Video Advertising, Mobile Advertising, Native Advertising, Affiliate Marketing, and Others. Each segment addresses distinct advertising objectives and consumer behaviors, with platforms such as Facebook, TikTok, YouTube, and Google being central to campaign strategies. Social media and video advertising are particularly prominent, driven by high engagement among younger demographics and the growing influence of short-form video content .
By End-User:
The end-user segmentation of the digital advertising market includes Retail, Automotive, Travel and Tourism, Education, Healthcare, Technology, Financial Services, Consumer Goods, and Others. Each sector utilizes digital advertising to target specific audiences, with retail and technology sectors leading digital ad spend, followed by automotive and travel, as brands seek to maximize reach and conversion through data-driven, omnichannel strategies .
Vietnam Digital Advertising and Retail Media Market Competitive Landscape
The Vietnam Digital Advertising and Retail Media Market is characterized by a dynamic mix of regional and international players. Leading participants such as VNG Corporation, FPT Corporation, MobiFone, Viettel Media, Admicro, Yeah1 Network, Zalo, Tiki Corporation, Shopee Vietnam, Lazada Vietnam, MoMo, Sendo, VCCorp, Adtima, C?c C?c, Webrand Company Limited, Golden Communication Group, Mindshare Media Ltd, GroupM Vietnam, PMAX Corp., Appota Group, Dentsu Creative Vietnam, VTV Digital, Feedforce Vietnam contribute to innovation, geographic expansion, and service delivery in this space .
VNG Corporation
2004
Ho Chi Minh City, Vietnam
FPT Corporation
1988
Hanoi, Vietnam
MobiFone
1993
Hanoi, Vietnam
Viettel Media
2013
Hanoi, Vietnam
Admicro
2008
Hanoi, Vietnam
Company
Establishment Year
Headquarters
Group Size (Large, Medium, or Small as per industry convention)
Revenue Growth Rate
Market Share (%)
Customer Acquisition Cost (CAC)
Customer Retention Rate (%)
Average Campaign ROI (%)
Vietnam Digital Advertising and Retail Media Market Industry Analysis
Growth Drivers
Increasing Internet Penetration:
Vietnam's internet penetration rate reached approximately
78 million users
in future, representing about
78%
of the population. This growth is driven by affordable mobile data plans and expanding broadband infrastructure. The World Bank reported that Vietnam's internet users increased by
10 million
from 2022 to 2023, facilitating greater access to digital advertising platforms. As more consumers go online, businesses are increasingly investing in digital advertising to reach this expanding audience, enhancing market growth.
Rise of E-commerce Platforms:
The e-commerce sector in Vietnam is projected to generate around
$20.5 billion
in revenue by future, reflecting a significant increase from
$16 billion
in 2022. This surge is attributed to the growing number of online shoppers, which reached
57-60 million
in recent periods. The Vietnam E-commerce Association indicates that
about 75%
of internet users have made online purchases, prompting brands to allocate more resources to digital advertising strategies that target these consumers effectively, thus driving market expansion.
Growing Mobile Usage:
Mobile devices accounted for over
90%
of internet traffic in Vietnam in future, with smartphone penetration exceeding
74%
. The International Telecommunication Union reported that mobile subscriptions reached
over 130 million
, indicating a strong preference for mobile browsing and shopping. This trend encourages advertisers to optimize their campaigns for mobile platforms, leading to increased investments in mobile advertising solutions. As mobile usage continues to rise, it significantly contributes to the growth of the digital advertising market.
Market Challenges
Regulatory Compliance Issues:
The digital advertising landscape in Vietnam faces stringent regulatory compliance challenges, particularly concerning advertising standards and consumer protection laws. The Ministry of Information and Communications has implemented new regulations that require advertisers to adhere to specific guidelines, which can complicate campaign execution. Non-compliance can result in fines or bans, creating a challenging environment for businesses looking to navigate the evolving regulatory landscape effectively.
Data Privacy Concerns:
With the implementation of data protection laws, such as the Personal Data Protection Act, businesses in Vietnam must prioritize consumer privacy. The government reported that
about 60%
of consumers are concerned about how their data is used in advertising. This growing awareness can lead to hesitance in sharing personal information, limiting the effectiveness of targeted advertising campaigns. Companies must balance effective marketing strategies with compliance to maintain consumer trust and avoid legal repercussions.
Vietnam Digital Advertising and Retail Media Market Future Outlook
The Vietnam digital advertising and retail media market is poised for significant transformation as technological advancements and consumer behaviors evolve. The integration of artificial intelligence and machine learning will enhance targeting capabilities, allowing advertisers to deliver personalized content. Additionally, the increasing focus on sustainability in advertising practices will shape brand strategies. As the market adapts to these trends, businesses that leverage innovative technologies and prioritize consumer engagement will likely thrive in this dynamic environment, fostering long-term growth.
Market Opportunities
Expansion of Social Media Advertising:
With
about 75 million active social media users
in Vietnam, brands have a unique opportunity to engage consumers through targeted advertising. The rapid growth of platforms like Facebook and TikTok allows businesses to reach diverse demographics effectively. Investing in social media advertising can enhance brand visibility and drive sales, capitalizing on the increasing time users spend on these platforms.
Growth in Video Advertising:
Video content consumption in Vietnam is projected to reach
over 1 billion views per day
in future. This trend presents a lucrative opportunity for advertisers to create engaging video campaigns that resonate with audiences. As platforms like YouTube and TikTok continue to dominate, businesses can leverage video advertising to enhance brand storytelling and connect with consumers on a deeper level, driving higher engagement rates.
Please Note: It will take 5-7 business days to complete the report upon order confirmation.
Table of Contents
99 Pages
- 1. Vietnam Digital Advertising and Retail Media Market Overview
- 1.1. Definition and Scope
- 1.2. Market Taxonomy
- 1.3. Market Growth Rate
- 1.4. Market Segmentation Overview
- 2. Vietnam Digital Advertising and Retail Media Market Size (in USD Bn), 2019–2024
- 2.1. Historical Market Size
- 2.2. Year-on-Year Growth Analysis
- 2.3. Key Market Developments and Milestones
- 3. Vietnam Digital Advertising and Retail Media Market Analysis
- 3.1. Growth Drivers
- 3.1.1. Increasing Internet Penetration
- 3.1.2. Rise of E-commerce Platforms
- 3.1.3. Growing Mobile Usage
- 3.1.4. Enhanced Targeting Capabilities
- 3.2. Restraints
- 3.2.1. Regulatory Compliance Issues
- 3.2.2. Data Privacy Concerns
- 3.2.3. High Competition
- 3.2.4. Limited Digital Literacy
- 3.3. Opportunities
- 3.3.1. Expansion of Social Media Advertising
- 3.3.2. Growth in Video Advertising
- 3.3.3. Increased Investment in AI and Analytics
- 3.3.4. Development of Localized Content
- 3.4. Trends
- 3.4.1. Shift Towards Programmatic Advertising
- 3.4.2. Integration of Augmented Reality
- 3.4.3. Focus on Sustainability in Advertising
- 3.4.4. Rise of Influencer Marketing
- 3.5. Government Regulation
- 3.5.1. Advertising Standards and Guidelines
- 3.5.2. Data Protection Laws
- 3.5.3. E-commerce Regulations
- 3.5.4. Taxation Policies on Digital Services
- 3.6. SWOT Analysis
- 3.7. Stakeholder Ecosystem
- 3.8. Competition Ecosystem
- 4. Vietnam Digital Advertising and Retail Media Market Segmentation, 2024
- 4.1. By Type (in Value %)
- 4.1.1. Display Advertising
- 4.1.2. Search Advertising
- 4.1.3. Social Media Advertising
- 4.1.4. Video Advertising
- 4.1.5. Mobile Advertising
- 4.1.6. Native Advertising
- 4.1.7. Affiliate Marketing
- 4.1.8. Others
- 4.2. By End-User (in Value %)
- 4.2.1. Retail
- 4.2.2. Automotive
- 4.2.3. Travel and Tourism
- 4.2.4. Education
- 4.2.5. Healthcare
- 4.2.6. Technology
- 4.2.7. Financial Services
- 4.2.8. Consumer Goods
- 4.2.9. Others
- 4.3. By Sales Channel (in Value %)
- 4.3.1. Direct Sales
- 4.3.2. Online Marketplaces
- 4.3.3. Social Media Platforms
- 4.3.4. Affiliate Networks
- 4.3.5. Others
- 4.4. By Advertising Format (in Value %)
- 4.4.1. Banner Ads
- 4.4.2. Sponsored Content
- 4.4.3. Video Ads
- 4.4.4. Interactive Ads
- 4.4.5. Email Marketing
- 4.4.6. Retargeting Ads
- 4.4.7. Influencer Collaborations
- 4.4.8. Others
- 4.5. By Audience Targeting (in Value %)
- 4.5.1. Demographic Targeting
- 4.5.2. Behavioral Targeting
- 4.5.3. Contextual Targeting
- 4.5.4. Retargeting
- 4.5.5. Others
- 4.6. By Campaign Objective (in Value %)
- 4.6.1. Brand Awareness
- 4.6.2. Lead Generation
- 4.6.3. Customer Engagement
- 4.6.4. Sales Conversion
- 4.6.5. Others
- 4.7. By Budget Size (in Value %)
- 4.7.1. Small Budget
- 4.7.2. Medium Budget
- 4.7.3. Large Budget
- 4.7.4. Others
- 5. Vietnam Digital Advertising and Retail Media Market Cross Comparison
- 5.1. Detailed Profiles of Major Companies
- 5.1.1. VNG Corporation
- 5.1.2. FPT Corporation
- 5.1.3. MobiFone
- 5.1.4. Viettel Media
- 5.1.5. Admicro
- 5.2. Cross Comparison Parameters
- 5.2.1. Revenue
- 5.2.2. Market Share (%)
- 5.2.3. Customer Acquisition Cost (CAC)
- 5.2.4. Average Campaign ROI (%)
- 5.2.5. Monthly Active Users (MAU)
- 6. Vietnam Digital Advertising and Retail Media Market Regulatory Framework
- 6.1. Advertising Standards
- 6.2. Compliance Requirements and Audits
- 6.3. Certification Processes
- 7. Vietnam Digital Advertising and Retail Media Market Future Size (in USD Bn), 2025–2030
- 7.1. Future Market Size Projections
- 7.2. Key Factors Driving Future Market Growth
- 8. Vietnam Digital Advertising and Retail Media Market Future Segmentation, 2030
- 8.1. By Type (in Value %)
- 8.2. By End-User (in Value %)
- 8.3. By Sales Channel (in Value %)
- 8.4. By Advertising Format (in Value %)
- 8.5. By Audience Targeting (in Value %)
- 8.6. By Campaign Objective (in Value %)
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