Internet of Things - Vietnam
Vietnam- Vietnam is expected to experience significant growth in the Internet of Things market (IoT) market.
- By 2025, the projected revenue is estimated to reach US$3.13bn.
- Among the various segments within the IoT market, Automotive IoT is predicted to dominate with a projected market volume of US$866.33m in 2025.
- This indicates the country's potential in the automotive sector within the IoT market.
- Furthermore, the IoT market in Vietnam is expected to display a steady growth rate.
- With an annual growth rate (CAGR 2025-2029) of 13.07%, the revenue is projected to reach US$5.12bn by 2029.
- This growth signifies the increasing adoption of IoT technologies in various industries withVietnam.
- In comparison to other countries, United States is expected to generate the highest revenue in the IoT market.
- In 2025, the projected revenue for the United States is estimated to be US$379.91bn.
- This highlights the dominance of the United States in the global IoT market.
- Overall, Vietnam's IoT market is poised for significant growth, offering opportunities for both local and international businesses to capitalize on the country's potential in this market segment.
- Vietnam's Internet of Things market is rapidly growing, with an increasing number of companies developing innovative solutions for agriculture and manufacturing sectors.
- Key regions:
- United States,
- Australia,
- Canada,
- China,
- India
Definition:
The term Internet of Things (IoT) describes a network of physical and virtual devices that are able to communicate autonomously using the Internet Protocol (IP). The IoT market is defined by revenues generated specifically from components and services that enable connectivity and intelligence. These include hardware (e.g., sensors, chips, and other IoT-specific components), platforms (e.g., IoT platforms, security software), connectivity solutions (e.g., cellular, LoRa, SigFox), and services (e.g., equipment/system integration and maintenance).
For example, in the case of a smart security camera, only the IoT-related portion of the product contributes to the IoT revenue. This includes the components and features that make the camera "smart" and capable of connecting to the internet (such as IoT sensors or connectivity modules), but not the full price of the camera itself.
Structure:
The IoT market consists of 7 different segments. Consumer IoT includes connected devices used by end users for personal purposes such as smart security cameras or smart home hubs. Smart Finance covers IoT applications used in financial sectors such as insurance telematics/usage-based insurance, real estate, ATMs. IoT in Healthcare covers all IoT applications in a healthcare setting such as the ones used for patient care, remote patient monitoring and surgeries. The Industrial IoT covers IoT applications in Industrial settings such as the factory & agriculture automation, supply chain optimization and predictive maintenance. Automotive IoT covers IoT use cases in mobility and transportation settings, such as the V2X connections, advanced driver assistance systems (ADAS) & telematics solutions. Other IoT covers use cases such as the ones used in professional sports such as player or equipment tracking.
Additional information:
The Internet of Things market compromises of revenue, revenue growth, volume, IoT Investment, and a list of top companies and their consolidated revenues. Reported market revenues include spending by consumers (B2C), enterprises (B2B) as well as governments (B2G). Revenues are allocated to the country where the money is spent.
The market is fragmented, but the key players in the market include Cisco (Cisco IoT platforms and software), Qualcomm, Dell EMC, and IBM.
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- Devices embedded with IoT sensors
- IoT technology software
- IoT connectivity revenues
- IoT equipment services
- Smartphones
- Laptops
- Tablets
- PCs
- Other devices whose sole purpose is internet access
