Vietnam Telecom Operators Country Intelligence Report

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Published: March 21, 2024 Report Code: GDTC0384MR-ST

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Vietnam Telecom Operators Country Intelligence Overview

The total telecom service revenue in Vietnam reached $6.4 billion in 2023. The market size growth has been estimated to incline at a CAGR of more than 4% during 2023-2028. This growth will be supported by a spike in mobile data and fixed broadband service segments. Also, the National Digital Transformation Program – 2025 aimed at speeding up digital transformation by changing business strategies and providing incentives to encourage enterprises, government administration, and manufacturing to go digital along with local government and operators focusing on enhancing connectivity through satellite services will fuel this growth.

Vietnam Telecom Services Market Outlook, 2023-2028 ($ Billion)

Vietnam Telecom Services Market Outlook, 2023-2028 ($ Billion)

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The ‘Vietnam Telecom Operators Country Intelligence’ report provides an executive-level overview of the telecom services market in Vietnam today, with detailed forecasts of key indicators up to 2028. Published annually, the report provides a detailed analysis of the near-term opportunities, competitive dynamics, and evolution of demand by service type and technology/platform across the fixed telephony, broadband, and mobile markets, and a review of key regulatory trends.

Market Size 2023 $6.4 billion
CAGR >4%
Forecast Period 2023-2028
Telecom Service Segment Mobile Services, Fixed Voice Services and Fixed-Broadband Services
Leading Companies Viettel, Vinaphone, Mobifone, Vietnamobile, VNPT, FPT
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Vietnam Telecom Services Market Regulatory Highlights

The government passed the amended Telecommunications Law in November 2023, which is intended to improve service quality, protect consumer rights, and ensure tighter security, while encouraging enterprises to drive infrastructure development.

Vietnam Telecom Services Market Analysis by Service

  • Mobile Services
  • Fixed Services

Vietnam Telecom Services Market Share by Service, 2023-2028 (%)

Vietnam Telecom Services Market Share by Service, 2023-2028 (%)

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Mobile Services Market in Vietnam - Deep Dive

Average monthly mobile voice usage will decline during 2023-2028 period. This is due to growing consumer preference for OTT-based communication solutions, in line with the widespread proliferation of 4G services and rising smartphone penetration over the forecast period.

The Vietnam telecom services market research report offers mobile services segment coverage on the following KPIs:

  • Mobile subscription penetration and subscription by device type
  • Mobile subscriptions by payment type, mobile subscriptions by technology generation, 2022-2028
  • Data usage and traffic
  • Mobile ARPU by payment type and service revenue by type

Fixed Services Market in Vietnam - Deep Dive

The number of circuit-switched lines will decline drastically during 2023-2028, as users continue to shift from traditional telephony to VoIP and mobile/OTT communication services.

The Vietnam telecom services market research report offers fixed services segment coverage on the following KPIs:

  • Fixed service penetration and subscription
  • Voice telephony by technology, fixed broadband lines by technology
  • Fixed ARPU and Service revenue by service type

Vietnam Telecom Services Market - Competitive Landscape

Viettel led the mobile service market in Vietnam in 2023. Viettel will maintain its leadership throughout the forecast period supported by its high-speed LTE network coverage throughout the country and its focus on 4G network expansion and the development of its 5G network.

Leading Telecom Companies in Vietnam

  • Viettel
  • Vinaphone
  • Mobifone
  • Vietnamobile
  • VNPT
  • FPT

Vietnam Telecom Services Market Share by Companies, 2023 (%)

Vietnam Telecom Services Market Share by Companies, 2023 (%)

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Scope

The country intelligence report provides an in-depth analysis of the following:

  • The demographic and macroeconomic context in Vietnam.

  • The regulatory environment and trends: A review of the regulatory setting and agenda for the next 18-24 months as well as relevant developments pertaining to spectrum licensing, national broadband plans, tariff regulation, and more.

  • Telecom services market outlook: Analysis as well as historical figures and forecasts of service revenue from the fixed telephony, broadband, mobile voice, and mobile data markets.

  • The competitive landscape: An examination of the positioning of leading players in the telecom services market as well as subscription market shares across segments.

  • Company snapshots: Analysis of the financial position of leading service providers in the telecommunications markets.

  • Underlying assumptions behind our published base-case forecasts, as well as potential market developments that would alter, either positively or negatively, our base-case outlook.

Reasons to Buy

  • This country intelligence report offers a thorough, forward-looking analysis of the Vietnam’s telecommunications markets, service providers, and key opportunities in a concise format to help executives build proactive and profitable growth strategies.

  • Accompanying GlobalData’s Forecast products, the report examines the assumptions and drivers behind ongoing and upcoming trends in Vietnam’s mobile communications, fixed telephony, and broadband markets, including the evolution of service provider market shares.

  • With more than 20 charts and tables, the report is designed for an executive-level audience, boasting presentation quality.

  • The report provides an easily digestible market assessment for decision-makers built around in-depth information gathered from local market players, which enables executives to quickly get up to speed with the current and emerging trends in Vietnam’s telecommunications markets.

  • The broad perspective of the report coupled with comprehensive, actionable detail will help operators, equipment vendors, and other telecom industry players succeed in the challenging telecommunications market in Vietnam.

Viettel
VNPT (Vinaphone)
Mobifone
Vietnamobile
FPT

Table of Contents

  • 1. Market highlights

  •  Key takeaways, Country Telecom Market Snapshot 2023-2028, revenue CAGR and penetration by service type, 2023 penetration in regional context

  • 2. Operating Environment

  •  Population, Real GDP growth, Nominal GDP, Consumer price inflation, PPP-adjusted GDP per capita, Exchange rates

  •  GlobalData Country Risk Index (GCRI)

  •  Country risk analysis of Vietnam compared to the Asia-Pacific and the World

  •  Regulatory context, National Digital Transformation Program – 2025, 2G shutdown, satellite connectivity

  •  ESG context

  • 3. Telecom services market outlook

  •  Total telecom services revenue by category, 2022-2028

  • 4. Mobile services market

  •  Mobile subscription penetration and subscription by device type

  •  Mobile subscriptions by payment type, mobile subscriptions by technology generation, 2022-2028

  •  Data usage and traffic

  •  Mobile ARPU by payment type and service revenue by type

  • 5. Fixed services market

  •  Fixed service penetration and subscription

  •  Voice telephony by technology, fixed broadband lines by technology

  •  Fixed ARPU and Service revenue by service type

  • 6. Competitive landscape and company snapshots

  •  Product portfolios and positioning, service offerings by service provider, 2023

  •  Company snapshot: Viettel

  •  Company snapshot: VNPT

  •  Company snapshot: Mobifone

  • 7. Appendix

  •  Baseline forecast assumptions.

  •  Data tables

  •  Glossary

  •  Research Methodology

  •  Contact us

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