Viet Nam has been listed in top 10 emerging markets in the global data centre market by ResearchAndMarkets, the world's leading market research store.

Illustrative image (Source: vneconomy.vn)

ResearchAndMarkets commented that Vietnam has impressive growth, international standard service delivery capacity, and a large number of organisations and enterprises.

The Vietnamese data centre market stood at 858 million USD last year and is forecast to grow at a compounded annual growth rate of over 14.64 percent until 2026.

The growth in the Vietnamese data centre market was driven by government projects and initiatives, the report said.

Data protection is a matter of global concern and is becoming an important issue on the agenda of the Vietnamese Government.

The data localisation requirement under the Cybersecurity Law, plus the need for better processing speeds to assist Vietnamese users are the main drivers, which are anticipated to significantly enhance the demand for data centres in the country.

The Vietnamese Government's inclination toward digitisation has further bolstered the demand for data centres across the country.

Furthermore, the Vietnamese data centre market is driven by the shifting of enterprise data to cloud platforms. This has led to an increase in the adoption of data storage solutions, which in turn is expected to positively influence the growth of the market. Additionally, growing adoption of big data solutions, IoT and cloud-based solutions among others, is expected to propel market growth through 2026.

According to the report, major players in the Vietnamese data centre market are FPT, Viettel-CHT, Viet Nam Posts and Telecommunications Group, KDDI, Hitachi Asia (Viet Nam), Hewlett Packard, SAP Viet Nam, IBM Vietnam, Microsoft Vietnam and Amazon Web Services Viet Nam.

Source: VNA