App - Vietnam

Vietnam

In 2022, the projected total revenue in the App market in Vietnam is estimated to reach US$689.30m.
This forecast takes into account various factors such as market trends, consumer behavior, and technological advancements.
It is expected that the App market will continue to experience steady growth in the coming years.
Based on the projected annual growth rate of 9.45% (CAGR 2022-2027), the total revenue in the App market is expected to reach US$1,089.00m by 2027.
This indicates a positive outlook for the industry, with significant potential for further expansion.
Within the App market, in-app purchase (IAP) revenue is projected to reach US$318.70m in 2022.
This revenue stream is driven by users making purchases within the apps they use, such as unlocking additional features or purchasing virtual goods.
Another revenue source in the App market is paid app revenue, which is projected to reach US$21.31m in 2022.
This refers to the revenue generated from users purchasing apps directly from the app stores.
Additionally, advertising revenue in the App market is expected to reach US$349.20m in 2022.
This revenue is generated through advertisements displayed within apps, providing a source of income for app developers and publishers.
In terms of user engagement, the number of app downloads in the App market is projected to reach 3,031.00m downloads in 2022.
This demonstrates the high level of interest and adoption of mobile apps among the Vietnamese population.
Currently, the average revenue per download is expected to amount to US$0.23.
This metric highlights the average amount of revenue generated from each app download, considering the various revenue streams available within the App market.
When comparing globally, it is notable that in China generates the most revenue in the App market, with an estimated US$162.90bn in 2022.
This emphasizes the significant market size and potential in China, contributing to its dominance in the global app economy.

Key regions: China, United States, Europe, Germany, Asia

Market

Region

Region comparison

Currency

Methodology

Data coverage:

The data encompasses B2C enterprises. Figures are based on revenue from in-app purchases, revenue from the purchase of apps, and revenue from advertising, as well as the number of downloads for each app category.

Modeling approach:

Market sizes are determined through a bottom-up approach, building on a specific rationale for each market segment. As a basis for evaluating markets, we use market data from independent databases and third-party sources, current trends, and reported performance indicators of top market players. In addition, we use relevant key market indicators and data from country-specific associations, such as smartphone users and mobile broadband connections. This data helps us estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, the S-curve function and exponential trend smoothing are well suited for forecasting digital products and services due to the non-linear growth of technology adoption. The main drivers are GDP/capita, level of digitization, and consumer attitudes toward apps.

Additional notes:

The data is modeled using current exchange rates. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level. The market is updated twice a year in case market dynamics change.