Viettel IDC, one of Vietnam's leading providers of data center services and cloud computing services, has forecast that the cloud computing market in Vietnam will boom in the next few years, Forbes Vietnam reported.
Cloud computing will boom in Vietnam. Photo: Shutterstock
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According to a report by Microsoft and Singapore National University announced in October 2017, Vietnam is the fastest-growing cloud computing market in Southeast Asia.
The size of Vietnam's cloud computing market was estimated at US$160 million in 2016, growing nearly 65% in the period of 2010-2016, according to BMI’s data, higher than an average of about 50% in ASEAN countries.
However, Vietnam's per capita spending on cloud computing is still low, only about US$1.7 in 2016, 100 times lower than that of Singapore, 6.5 times lower than that of Malaysia and Thailand 2.4 times lower than that of Thailand.
"A strong cloud computing platform will be the basic infrastructure for the development of Industrial Revolution 4.0 in Vietnam in the next few years," Director of Viettel IDC Nguyen Tien Dung said in a press release.
Viettel IDC claims to be the leading provider of cloud services in Vietnam with a 23% of market share. The company has more than 3,000 clients with an annual growth rate of 100%.
The application of this model in Vietnam is expected to increase sharply and be more diversified in the coming time, Viettel IDC forecasts.
In 2018, Vietnam reached 41/100 points for cloud service coverage, ranking 14th in a table elaborated by the Asia Cloud Computing Association.
Cloud computing can help solving an array of major financial problems, where some 438 million people do not use banking services. The technology also reduces the cost of transferring money when banks use cloud-based solutions for electronic payment system, according to reports by Microsoft and Singapore National University.
The two major priorities of the banking sector are cloud computing and big data, Pham Tien Dung, head of the Payment Department at the State Bank of Vietnam, said at the international summit and exhibitions on Industrial Revolution 4.0 on July 13.
According to the survey and evaluation of Viettel IDC, when using Private Cloud service, enterprises can save up to 40% of the initial investment cost, reducing from four-six weeks deployment and completely eliminating the personnel cost for operating and maintaining the system compared to the self-investment in the enterprise.
