Growing trend of digitalization and technological advancements is expected to drive the demand for Vietnam Telecom market in the forecast period.
According to TechSci Research report, “Vietnam Telecom Market is expected to grow at a steady CAGR in the forecast period, 2022-2026. The growing demand for smart grid, telemedicine, industrial automation, and connected cars due to advanced technologies is expected to create huge potential for the Vietnam Telecom market growth. The growing population and the high adoption of mobile phone services are fueling the development of the Telecom market. The rise in the initiatives taken by the government to boost the digital economy and bring the fourth industrial revolution in the country is expected to propel the Telecom market. The upcoming plans for developing smart cities, start-ups, and the National Innovation Network Program using advanced technologies such as the internet of things are expected to contribute to the Vietnam Telecom market growth. Development of smart cities in Vietnam such as Dragon Smart City in the central coastal city of Da Nang, BRG Smart City in Hanoi, Ecopark Smart City in the northern province of Hung Yen boasting of increased convenience, safety, and availability of integrated services to residents is expected to fuel the economy of the country. The government is encouraging foreign investments to upgrade the 5G network and provide equipment and infrastructure for the value-added services. Foreign exporters are also encouraged to partner with established network operators to offer 3G,4G, and 5G internet services. Market players are indulging in the development of wireless technology and alternative broadband technologies. Leading authorities aim to provide an e-governance platform to its residents to efficiently serve citizens’ and enterprises’ needs. The growing awareness among the consumers of the benefits of using digital technology and the increase in transparency in government work is contributing to the surge in the growth of the Telecom market in the country.
However, dependence on foreign investment and technology and lack of presence of skilled workforce may restrain the growth of the Vietnam Telecom market for the forecast period.
Browse XX Figures spread through 70 Pages and an in-depth TOC on “Vietnam Telecom Market”.
Vietnam Telecom market is segmented into type, service type, equipment, deployment, application, regional distribution, and company. Based on type, the market is divided into wireless Telecommunication carriers, wired Telecommunication carriers, communication hardware, satellite, and Telecommunication resellers. The wireless Telecommunication carriers segment is expected to witness growth in the forecast period, 2022-2026. The growing trend of adoption of wireless communication technologies such as Wi-Fi, 4G, and 5G networks is driving the growth of the segment as they are more affordable and faster than their counterparts.
AT&T, EVNTelecom, Viettel Group, Vietnam Mobile Telecom Services, Vinaphone, Vietnam Posts and Telecommunications Group, GTel Mobile JSC, FPT Corporation, NamVietNet Telecommunication Service Joint Stock Company, Saigon Post and Telecommunications Services Corporation, SaoBacDau Technologies, NetNam, VMG Media JSC, VTC Telecommunications JSC, METUB Network are the leading players operating in Vietnam Telecom market. Service providers are increasingly focusing on research and development process to fuel higher growth in the market. To meet evolving customer demand with respect to better efficiency and durability, several Telecom service providers are coming up with their technologically advanced offerings.
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“The change in customer preference to view Over-The-Top (OTT) channels which they choose according to the price and number of viewing options provided by the service providers. Most popular viewed OTT platforms such as Netflix, Amazon Prime, FPT Play, On TV, and others allow subscribers to watch their favorite shows according to their convenience. The growing expenditure capacity of the customers and the influence of social media platforms along with super-fast internet protocol networks, open-source platforms, and other innovations is expected to propel the Vietnam Telecom market growth till 2026” said Mr. Karan Chechi, Research Director with TechSci Research, a research-based global management consulting firm.
This Report covers following topics
Vietnam Telecom Market Size
Vietnam Telecom Market Share
Vietnam Telecom Market Forecast
Vietnam Telecom Market Analysis
Vietnam Telecom Market Outlook
Vietnam Telecom Market growth
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Source : https://www.techsciresearch.com/news/6415-vietnam-telecom-market-to-grow-at-a-significant-rate-through-2026.html