In a recently-released report, Research and Markets predicted that Vietnam’s cloud storage market will likely grow at a significant rate, within the study period of 2017 to 2027.
The report highlighted that the strong growth of the market could be attributed to increased volumes of data generated across enterprises, and rising penetration of autonomous systems and machine learning across the country, as Vietnam steps up the pace of its digital transformation efforts.
Notably, tech users in Vietnam are also becoming more likely to take up cloud storage services because these users are also better informed and more aware of advantages offered by the cloud, such as scalability, flexibility, 24/7 availability, and enhanced storage.
Furthermore, the emergence of unique video systems, the Internet of Things (IoT), remote sensing technologies, and enhanced adoption of cloud storage solutions in the workplace, were all factors mentioned by the report, which were propelling the growth of the Vietnam cloud storage market.
Broad-based Demand for Cloud Storage Services
The report also noted that a growing number of firms and enterprises of all sizes were adopting cloud storage, including key industries such as BFIS, healthcare, and media and entertainment.
Other major industries, aerospace and defense, which are bolstering their industry-wide automation efforts, and require improved cloud services with better and safer storage and sharing of data. These industries are also expected to be major drivers of the Vietnam cloud storage market from 2017 to 2027.
High Levels of Investment from Major Tech Vendors
Furthermore, as Vietnam steps up its data transformation efforts, Research and Markets anticipates that major corporations and tech vendors will also seek to diversify their portfolios and increase their investments in Vietnam. Furthermore, these firms’ investment in Vietnam is also likely to go beyond cloud services, to include the construction and operation of data centres as well.
As companies have adjusted to remote working across the COVID-19 pandemic, the growing demand for enhanced cloud services which can support the remote workforce with immediately-available access to cloud stored data and files, are also expected to bolster and boost the growth of Vietnam’s cloud storage market in the near future.
The report segmented Vietnam’s cloud storage market based on component, deployment mode, organisation size, end user industry, company and region, when making its forecasts for Vietnam, to identify potential future drivers of growth, and challenges to growth.
With Research and Markets’ optimistic forecasts for Vietnam’s cloud storage market, high-performing and exceptional cloud projects will be especially important in driving the industry’s growth in an efficient, sustainable manner.
“Outstanding IT and Cloud Projects” is an awards category for this year’s W.Media Asia-Pacific Cloud & Datacenter Awards, where you can nominate projects under the sub-categories “Platform-as-a-service”, “Digital Transformation”, “Cybersecurity Implementation”, and “Multi-Cloud”. Thinking of nominating or sponsoring? Visit our Awards Page for more information. Nominations are open until 31st July.