Vietnam Data Center Market Growth Analysis Report 2024-2029: Investments Soar as Vietnam's Binh Duong and Da Nang Lead the Charge.
| Published date | 21 March 2024 |
M2 PRESSWIRE-March 21, 2024-: Vietnam Data Center Market Growth Analysis Report 2024-2029: Investments Soar as Vietnam's Binh Duong and Da Nang Lead the Charge
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The "Vietnam Data Center Market - Investment Analysis & Growth Opportunities 2024-2029" report has been added to ResearchAndMarkets.com's offering.
The Vietnam data center market is expected to grow to $1.435 billion by 2029 from $685 million in 2023, growing at a CAGR of 13.12% from 2023-2029
This report analyses the Vietnam data center market share. It elaboratively analyses the existing and upcoming facilities and investments in IT, electrical, mechanical infrastructure, general construction, and tier standards. It discusses market sizing and investment estimation for different segments.
The Vietnam data center market has the presence of several global construction contractors such as Aurecon, AWP Architects, Sato Kogyo, and others. Global contractors' presence in the market boosts the market through their expertise and resources. The country's support infrastructure market is highly competitive due to global vendors such as Cummins, Caterpillar, ABB, Eaton, Legrand, etc. The increasing competitiveness is expected to decrease the price of infrastructure in the market and thus lead to a decrease in the OPEX of data center operators.
Vietnam aims to attain the status of a high-income economy by 2045, with a particular focus on advancing its digital economy. The integration of digital transformation has not only led to reduced time and costs for businesses but has also heightened transparency across various sectors. The National Plan underscores the significance of digitally transforming eight sectors: finance and banking, healthcare, education, agriculture, transport, logistics, energy, natural resources, environment, and manufacturing.
Big data and IoT utilization are rising across diverse regional industries. The government has recently introduced the National Strategy on Artificial Intelligence, outlining plans for transforming Vietnam into a focal point for innovation by 2030. As a case in point, VietinBank is proactively enhancing its data infrastructure by integrating data warehousing, Business Intelligence (BI), and Master Data Management (MDM) to strengthen its capabilities.
In the initial phase of 5G development, Vietnam plans to roll out 5G services in industrial parks, schools, research institutes, and government agencies. The government's...
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