In 2023, the growth of the Cloud market slowed down, largely due to the economic recession leading to pressure to cut and optimize costs.

The 2023 Data Center and Cloud Computing Market Overview Report in Vietnam, recently released by the Vietnam Cloud Computing and Data Center Club - VNCDC, shows that the demand for Cloud services in Vietnam has grown strongly in 2022, when the market size increased to VND 9,700 billion, double that of 2021.

However, in 2023, the growth of the Cloud market slowed down, largely due to the economic recession leading to pressure to cut and optimize costs. Despite the decrease in growth, the Vietnamese Cloud market is still estimated to grow by 24.2% in 2023.

In the Cloud market, large domestic enterprises such as Viettel, VNPT, CMC and FPT... are always expanding investment and looking for customers, but international cloud service providers still hold the advantage in the market, the market share of Cloud services between foreign and domestic enterprises is 80% and 20%.

The representative of the Vietnam Internet Association also commented that recently, domestic enterprises have been stepping up their research and development efforts, creating good Cloud service products; in the context of domestic digital transformation being accelerated, domestic data center and cloud computing service providers are having a great opportunity to accelerate market share expansion.

BA TAN