Business

Four scenarios for Vietnam’s cloud computing market

The Ministry of Information and Communications is collecting feedback on a draft master plan on information and communications (ICT) infrastructure for 2021-2030 with a vision to 2050, which outlines four scenarios for the growth of the market.
Four scenarios for Vietnam’s cloud computing market ảnh 1Illustrative image (Photo: vneconomy.vn)

Hanoi (VNA) – The Ministry of Information and Communications is collecting feedback on a draft master plan on information and communications (ICT) infrastructure for 2021-2030 with a vision to 2050, which outlines four scenarios for the growth of the market.

In the first scenario, the market will keep growing with a total revenue of 653 million USD by 2025. Vietnam will be among the top 50 countries globally in terms of the sector’s contribution to the gross domestic product (GDP). With nearly 46,600 racks that need to be installed by 2025, it is necessary to have at least 17,000 Gbps for domestic broadband connection.

Under the second scenario, digital applications will become popular in the entire population and industries. In terms of the sector’s contribution to the GDP, Vietnam will be one of the top 30 countries worldwide. By 2025, the total revenue from cloud computing services will reach 1.1 billion USD and about 80,000 racks need to the installed, thus requiring at least 22,000 Gbps for domestic broadband connection.

With digital applications widely used in all sectors and thriving digital transformation, Vietnam is expected to be among 10 countries worldwide in the contribution of the cloud computing market to the GDP in the third scenario. By 2025, the total revenue is estimated at 4.3 billion USD while 327,000 racks need at least 62,000 Gbps.

According to the fourth scenario, Vietnam will strive to become a digital hub in the region and earn 4.7 billion USD by 2025. With about 335,000 racks, the demand for domestic broadband connection is equivalent to that in the third scenario.

Statistics showed that Vietnam’s cloud computing market was worth about 200 million USD in late 2020 with a growth of 20.67 percent during the 2016-2020 period./. 

VNA
#Ministry of Information and Communications #Vietnamplus #Vietnam News Agency #cloud computing market #gross domestic product #domestic broadband connection Vietnam
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