Vietnam Storage Market Outlook to 2028
Description
Vietnam Storage Market Overview
The Vietnam Storage Market is valued at USD 200 million, based on a five-year historical analysis. The growth of this market is primarily driven by the rapid digitalization across industries and increased adoption of cloud-based solutions. Significant growth is noted in sectors like IT & telecommunications, banking, and healthcare, which have seen a surge in data traffic, requiring enhanced storage solutions.
Vietnam's key cities dominating the market are Hanoi and Ho Chi Minh City. These cities are the country's political, economic, and technological hubs, home to numerous global companies, tech startups, and financial institutions. Their dominance is attributed to high business density, government backing for tech innovation, and superior infrastructure supporting data-driven industries.
As part of the National Digital Transformation Program, the government has allocated $5 billion to enhance the countrys digital infrastructure by 2025. A significant portion of this fund is earmarked for developing cloud storage capabilities, both in the public and private sectors. The program aims to establish 3,000 new public sector cloud platforms by 2025, further boosting the demand for storage solutions.
Vietnam Storage Market Segmentation
By Storage Type: The market is segmented by storage type into Traditional Storage, All-Flash Storage, and Hybrid Storage. Among these, All-Flash Storage has a dominant market share due to its superior speed, performance, and reliability. All-Flash solutions are increasingly adopted by businesses handling large datasets requiring real-time access, such as IT and banking sectors. Additionally, these storage systems offer low latency and higher durability, which makes them ideal for high-demand applications.
By Application: The market is also segmented by application into IT and Telecommunications, BFSI, Healthcare, Government, and Others. The IT and Telecommunications sector holds a dominant position in this segment due to the growing reliance on cloud services and the expansion of Vietnams digital infrastructure. This sector's need for data storage solutions continues to rise as businesses require more capacity to store, manage, and analyze vast amounts of digital data generated daily.
Vietnam Storage Market Competitive Landscape
The market is highly competitive, with key players focusing on offering innovative solutions tailored to market needs. Major companies leverage advanced storage technologies such as cloud and hybrid solutions to capture market share.
Company Name
Establishment Year
Headquarters
Key Storage Solutions
No. of Employees
Revenue (2023)
Global Reach
R&D Investment
Cloud Adoption Focus
Strategic Partnerships
Dell Inc.
1984
USA
NetApp Inc.
1992
USA
Oracle Corporation
1977
USA
Viettel IDC Company
2008
Vietnam
Western Digital Corp.
1970
USA
Vietnam Storage Market Analysis
Market Growth Drivers
Increased Demand for Data Storage Solutions: Vietnam's rapid digital transformation has resulted in an increased need for storage solutions to handle the growing volume of data. In 2024, the country's e-commerce market is expected to reach 52 million users, leading to a significant rise in the demand for cloud storage and data centers.
Government Push for Cloud Adoption: The Vietnamese government's National Digital Transformation Program by 2025 is aggressively promoting the use of cloud computing among businesses and public sector organizations. The initiative aims to transition 50% of enterprises to cloud platforms by 2025, leading to higher demand for storage systems and services.
Growing Data Privacy Regulations: In 2024, the Vietnamese government passed updated data privacy regulations, mandating stricter compliance on the storage and processing of local data. As a result, companies are investing heavily in data centers and local storage solutions to meet these regulatory requirements.
Market Challenges
High Initial Costs for Infrastructure: The storage market in Vietnam faces the challenge of high initial capital investment for setting up data centers and cloud infrastructure. Building a Tier 3 data center in Vietnam can cost upwards of $50 million, a barrier for small and medium-sized enterprises (SMEs).
Limited Local Expertise in Advanced Storage Technologies: Vietnam's IT industry still faces a shortage of skilled professionals with expertise in managing advanced storage solutions such as hyper-converged infrastructure (HCI) and object-based storage. In 2024, the Vietnam Information Technology Association reported a shortfall of 30,000 skilled workers in the IT and data management sectors.
Vietnam Storage Market Future Outlook
Over the next five years, the Vietnam Storage industry is expected to see growth, driven by the expansion of e-commerce, cloud services, and the adoption of advanced storage solutions like All-Flash and hybrid systems.
Future Market Opportunities
Growth of Hybrid Cloud Storage: Over the next five years, Vietnams storage market will witness adoption of hybrid cloud storage solutions as enterprises look for a balance between on-premises storage and public cloud solutions. By 2029, over 10,000 companies are projected to adopt hybrid cloud systems, allowing them to manage large datasets more efficiently while maintaining control over critical data.
Expansion of Data Center Capacity: The demand for data storage will lead to a surge in the construction of new data centers. It is estimated that by 2028, Vietnam will have an additional 50 data centers with a collective storage capacity of over 10 exabytes. These data centers will cater to the growing needs of the e-commerce, fintech, and entertainment industries.
Please Note: It will take 5-7 business days to complete the report upon order confirmation
The Vietnam Storage Market is valued at USD 200 million, based on a five-year historical analysis. The growth of this market is primarily driven by the rapid digitalization across industries and increased adoption of cloud-based solutions. Significant growth is noted in sectors like IT & telecommunications, banking, and healthcare, which have seen a surge in data traffic, requiring enhanced storage solutions.
Vietnam's key cities dominating the market are Hanoi and Ho Chi Minh City. These cities are the country's political, economic, and technological hubs, home to numerous global companies, tech startups, and financial institutions. Their dominance is attributed to high business density, government backing for tech innovation, and superior infrastructure supporting data-driven industries.
As part of the National Digital Transformation Program, the government has allocated $5 billion to enhance the countrys digital infrastructure by 2025. A significant portion of this fund is earmarked for developing cloud storage capabilities, both in the public and private sectors. The program aims to establish 3,000 new public sector cloud platforms by 2025, further boosting the demand for storage solutions.
Vietnam Storage Market Segmentation
By Storage Type: The market is segmented by storage type into Traditional Storage, All-Flash Storage, and Hybrid Storage. Among these, All-Flash Storage has a dominant market share due to its superior speed, performance, and reliability. All-Flash solutions are increasingly adopted by businesses handling large datasets requiring real-time access, such as IT and banking sectors. Additionally, these storage systems offer low latency and higher durability, which makes them ideal for high-demand applications.
By Application: The market is also segmented by application into IT and Telecommunications, BFSI, Healthcare, Government, and Others. The IT and Telecommunications sector holds a dominant position in this segment due to the growing reliance on cloud services and the expansion of Vietnams digital infrastructure. This sector's need for data storage solutions continues to rise as businesses require more capacity to store, manage, and analyze vast amounts of digital data generated daily.
Vietnam Storage Market Competitive Landscape
The market is highly competitive, with key players focusing on offering innovative solutions tailored to market needs. Major companies leverage advanced storage technologies such as cloud and hybrid solutions to capture market share.
Company Name
Establishment Year
Headquarters
Key Storage Solutions
No. of Employees
Revenue (2023)
Global Reach
R&D Investment
Cloud Adoption Focus
Strategic Partnerships
Dell Inc.
1984
USA
NetApp Inc.
1992
USA
Oracle Corporation
1977
USA
Viettel IDC Company
2008
Vietnam
Western Digital Corp.
1970
USA
Vietnam Storage Market Analysis
Market Growth Drivers
Increased Demand for Data Storage Solutions: Vietnam's rapid digital transformation has resulted in an increased need for storage solutions to handle the growing volume of data. In 2024, the country's e-commerce market is expected to reach 52 million users, leading to a significant rise in the demand for cloud storage and data centers.
Government Push for Cloud Adoption: The Vietnamese government's National Digital Transformation Program by 2025 is aggressively promoting the use of cloud computing among businesses and public sector organizations. The initiative aims to transition 50% of enterprises to cloud platforms by 2025, leading to higher demand for storage systems and services.
Growing Data Privacy Regulations: In 2024, the Vietnamese government passed updated data privacy regulations, mandating stricter compliance on the storage and processing of local data. As a result, companies are investing heavily in data centers and local storage solutions to meet these regulatory requirements.
Market Challenges
High Initial Costs for Infrastructure: The storage market in Vietnam faces the challenge of high initial capital investment for setting up data centers and cloud infrastructure. Building a Tier 3 data center in Vietnam can cost upwards of $50 million, a barrier for small and medium-sized enterprises (SMEs).
Limited Local Expertise in Advanced Storage Technologies: Vietnam's IT industry still faces a shortage of skilled professionals with expertise in managing advanced storage solutions such as hyper-converged infrastructure (HCI) and object-based storage. In 2024, the Vietnam Information Technology Association reported a shortfall of 30,000 skilled workers in the IT and data management sectors.
Vietnam Storage Market Future Outlook
Over the next five years, the Vietnam Storage industry is expected to see growth, driven by the expansion of e-commerce, cloud services, and the adoption of advanced storage solutions like All-Flash and hybrid systems.
Future Market Opportunities
Growth of Hybrid Cloud Storage: Over the next five years, Vietnams storage market will witness adoption of hybrid cloud storage solutions as enterprises look for a balance between on-premises storage and public cloud solutions. By 2029, over 10,000 companies are projected to adopt hybrid cloud systems, allowing them to manage large datasets more efficiently while maintaining control over critical data.
Expansion of Data Center Capacity: The demand for data storage will lead to a surge in the construction of new data centers. It is estimated that by 2028, Vietnam will have an additional 50 data centers with a collective storage capacity of over 10 exabytes. These data centers will cater to the growing needs of the e-commerce, fintech, and entertainment industries.
Please Note: It will take 5-7 business days to complete the report upon order confirmation
Table of Contents
81 Pages
- Vietnam Storage Market Overview
- 1.1. Definition and Scope
- 1.2. Market Taxonomy
- 1.3. Market Growth Rate
- 1.4. Market Segmentation Overview
- Vietnam Storage Market Size (In USD Mn)
- 2.1. Historical Market Size
- 2.2. Year-on-Year Growth Analysis
- 2.3. Key Market Developments and Milestones
- Vietnam Storage Market Analysis
- 3.1. Growth Drivers
- 3.1.1. Increased E-Commerce Activity (Impact on storage demand)
- 3.1.2. Growth in Cloud Adoption (Hybrid and All-Flash Storage Demand)
- 3.1.3. Government Digital Transformation Initiatives (Data Management and Storage)
- 3.1.4. Rise of SMEs and Startups (Flexible Storage Solutions for Small Businesses)
- 3.2. Market Challenges
- 3.2.1. High Operational Costs (Energy Consumption in Data Centers)
- 3.2.2. Security Concerns (Data Privacy and Security Regulations)
- 3.2.3. Inadequate Infrastructure (Rural Regions)
- 3.3. Opportunities
- 3.3.1. Investments in Cold Storage (Growth in Food and Pharma Sectors)
- 3.3.2. Expansion of Self-Storage Solutions (For SMEs and Startups)
- 3.3.3. Government Investments in Smart City Initiatives (Storage Requirements)
- 3.4. Trends
- 3.4.1. Adoption of Software-Defined Storage
- 3.4.2. Increased Use of All-Flash and Hybrid Storage Systems
- 3.4.3. Development of Edge Data Centers
- Vietnam Storage Market Segmentation
- 4.1. By Storage Type (In Value %)
- 4.1.1. Traditional Storage
- 4.1.2. All-Flash Storage
- 4.1.3. Hybrid Storage
- 4.2. By Application (In Value %)
- 4.2.1. IT and Telecommunications
- 4.2.2. BFSI
- 4.2.3. Healthcare
- 4.2.4. Government
- 4.2.5. Others (Retail, Manufacturing)
- 4.3. By Deployment (In Value %)
- 4.3.1. Storage Area Network (SAN)
- 4.3.2. Network-Attached Storage (NAS)
- 4.3.3. Direct-Attached Storage (DAS)
- 4.3.4. Cloud Storage Solutions
- 4.4. By Region (In Value %)
- 4.4.1. North
- 4.4.2. East
- 4.4.3. South
- 4.4.4. West
- Vietnam Storage Market Competitive Analysis
- 5.1. Detailed Profiles of Major Companies
- 5.1.1. Dell Inc.
- 5.1.2. NetApp Inc.
- 5.1.3. Kingston Technology
- 5.1.4. Viettel IDC Company
- 5.1.5. Oracle Corporation
- 5.1.6. Western Digital Corporation
- 5.1.7. Seagate Technology
- 5.1.8. Lenovo Group Limited
- 5.1.9. Infortrend Technology Inc.
- 5.1.10. Fujitsu Limited
- 5.1.11. Intel Corporation
- 5.1.12. MyStorage
- 5.1.13. KingKho Mini Storage
- 5.1.14. TITAN Containers
- 5.1.15. Saigon Storage
- 5.2. Cross Comparison Parameters
- (Number of Employees, Headquarters, Storage Solutions Offered, Revenue, Global Reach)
- 5.3. Market Share Analysis
- 5.4. Strategic Initiatives
- 5.5. Mergers and Acquisitions
- 5.6. Investment Analysis
- 5.7. Venture Capital Funding
- 5.8. Government Grants and Subsidies
- Vietnam Storage Market Regulatory Framework
- 6.1. Data Privacy Regulations
- 6.2. Compliance with Local Data Sovereignty Laws
- 6.3. Certification and Standardization
- Vietnam Storage Market Future Size (In USD Mn)
- 7.1. Future Market Size Projections
- 7.2. Key Factors Driving Future Market Growth
- Vietnam Storage Market Future Segmentation
- 8.1. By Storage Type (In Value %)
- 8.2. By Application (In Value %)
- 8.3. By Deployment (In Value %)
- 8.4. By Region (In Value %)
- Vietnam Storage Market Analysts Recommendations
- 9.1. TAM/SAM/SOM Analysis
- 9.2. Customer Cohort Analysis
- 9.3. Strategic Recommendations
- Disclaimer
- Contact Us
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