Infrastructure as a Service - Vietnam

Revenue in the Infrastructure as a Service market is projected to reach US$304.20m in 2024.
0.0 dominates the market with a projected market volume of 0.0 in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 25.08%, resulting in a market volume of US$931.10m by 2029.
In global comparison, most revenue will be generated United States (US$77.05bn in 2024).

Definition:

Infrastructure as a Service (IaaS) refers to the type of public cloud service that provides virtualized computing resources. IaaS offers on-demand access to virtual machines, storage, and networking components, thus allowing users to build, deploy, and manage IT infrastructure without the need to invest in physical hardware. IaaS offers scalability, flexibility, and cost-efficiency by requiring users to pay only for the resources they consume. The IaaS market includes the companies that provide these types of public cloud resources and services to individuals, businesses, and organizations. A typical example of this type of service is Amazon Web Services (AWS). AWS provides a wide range of virtual machines, storage, and networking resources that users can access on demand to build and manage their IT infrastructures.

Additional Information:

The Infrastructure as a Service (IaaS) market comprises revenue, revenue change, average spend per employee, and key player market shares as key performance indicators. Only revenues that are generated by primary vendors at the manufacturer price level either directly or through distribution channels (excluding value-added tax) are included, and revenues generated by resellers are excluded. Revenues are generated through both online and offline sales channels and include spending by consumers (B2C), enterprises (B2B) as well as governments (B2G). Detailed definitions of each market can be found on the respective page where the market data is displayed.

Key players of the IaaS market include companies such as Amazon (Amazon web services), Microsoft (Azure), Google (Cloud), and IBM (Cloud).

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Server capabilities, such as Amazon Elastic Compute Cloud (EC2), Azure IaaS, and Google Compute Engine (GCE)
Computing resources, such as Amazon Elastic Compute Cloud (EC2), Azure IaaS, and Google Compute Engine (GCE)
Storage resources, such as Amazon Elastic Block Store (EBS), Azure Blob Storage, and Google Cloud
Network capabilities, such as Google Cloud Interconnect and Alibaba Cloud Express Connect

Business-Process-as-a-Service (BPaaS), such as payroll management and accounting solutions via ADP Workforce Now, Intuit QuickBooks Online, Workday, and Oracle NetSuite
Desktop-as-a-Service (DaaS), such as Amazon WorkSpaces, Microsoft Windows Virtual Desktop, VMware Horizon Cloud, and Citrix Virtual Apps and Desktops
Platform-as-a-Service (PaaS), such as Heroku, AWS Elastic Beanstalk, Google App Engine, Microsoft Azure App Service, and IBM Cloud Foundry
Software-as-a-Service (SaaS), such as Google Workspace, Microsoft 365, Salesforce, Zoom, and Slack
System infrastructure software, such as Microsoft Windows Server, Linux distributions, VMware for virtualization, and Cisco’s networking software
Private cloud services, such as IBM Cloud Private, Microsoft Azure Stack HCI, and VMware vCloud Suite

The Infrastructure as a Service market in the Public Cloud market in Vietnam has seen considerable growth, attributed to the rising demand for digital services, increased awareness of health among consumers, and the convenience of online health services. Factors such as technological advancements and government initiatives to promote digitalization have also impacted the market's growth rate.

Customer preferences: With the growing adoption of cloud technology in Vietnam, businesses are increasingly turning to Infrastructure as a Service (IaaS) solutions to streamline their operations and reduce costs. This trend is driven by a shift towards digital transformation, as companies seek to leverage the benefits of cloud computing for scalability, flexibility, and cost efficiency. Additionally, the rise of remote work and virtual collaboration has fueled the demand for IaaS, as it enables seamless access to data and applications from any location.

Trends in the market: In Vietnam, the Infrastructure as a Service Market within the Public Cloud Market is experiencing a surge in demand for cloud-based solutions, as businesses and organizations seek to modernize their IT infrastructure. This trend is expected to continue in the coming years, with a growing number of enterprises adopting cloud technologies for their scalability, cost-effectiveness, and flexibility. Moreover, the government's initiatives to promote digital transformation are anticipated to further drive the growth of the Infrastructure as a Service Market. As a result, industry stakeholders, such as cloud service providers, are focusing on expanding their offerings and investing in new technologies to meet the increasing demand. This trend has significant implications for the market, including increased competition, innovation, and potential partnerships between local and global players. It also presents opportunities for businesses to improve their operational efficiency, reduce costs, and enhance their overall competitiveness.

Local special circumstances: In Vietnam, the Infrastructure as a Service Market within the Public Cloud Market is heavily influenced by the country's rapidly developing technology sector and its young, tech-savvy population. Additionally, the government has implemented policies to promote the adoption of cloud computing, creating a favorable environment for the growth of the market. The country's geographical proximity to major cloud service providers in the Asia-Pacific region also plays a significant role in the market's dynamics. Furthermore, Vietnam's strong entrepreneurial culture and growing startup scene have resulted in a demand for flexible and scalable infrastructure solutions, further driving the growth of the IaaS market.

Underlying macroeconomic factors: The Infrastructure as a Service Market within the Public Cloud Market in Vietnam is impacted by macroeconomic factors such as government initiatives to promote digital transformation, advancements in technology, and investments in infrastructure development. With a growing economy and favorable policies towards digitalization, Vietnam has seen a significant increase in demand for cloud services, including Infrastructure as a Service. Additionally, the country's focus on improving its digital infrastructure and increasing internet penetration rates further supports the growth of the Public Cloud Market, driving the adoption of Infrastructure as a Service solutions. Furthermore, the rise in remote work due to the COVID-19 pandemic has also accelerated the demand for public cloud services, including Infrastructure as a Service, in Vietnam.

Data coverage:

The data encompasses B2B and B2C enterprises. Figures are based on the money spent at manufacturer price level (excluding VAT).

Modeling approach / Market size:

The segment size is determined through a top-down approach. We use financial statements such as annual reports, quarterly earnings, and expert opinions to analyze the markets. To estimate the segment size for each country individually, we use relevant key market indicators and data from country-specific industry associations, such as GDP and level of telecommunications infrastructure.

Forecasts:

We use a variety of forecasting techniques, depending on the behavior of the relevant segment. The main drivers are the GDP and the level of digitization.

Additional notes:

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

This report presents a comprehensive analysis and additional information on the Technology market, in a PDF format.

Together with platform as a service (PaaS) and infrastructure as a service (IaaS), software as a service (SaaS) is one of the three primary tiers of cloud computing. It allows businesses to redirect resources away from IT hardware, software, and personnel expenses, and towards other business needs. Currently, the most prominent companies in the SaaS market are Microsoft, Salesforce, Oracle, SAP, and Google.