Vietnam’s data centre storage market, valued at US$0.75 billion in 2023, is projected to reach US$1.54 billion by 2029, driven by a compound annual growth rate of 12.6 percent. This robust growth reflects the country’s accelerating shift towards digitalisation across key industries, according to a report from Research and Markets.
The report goes on to say that the demand for scalable and reliable data storage solutions is rising as Vietnamese businesses transition from traditional methods to digital platforms. Significant contributors to this trend include the finance, e-commerce, telecommunications, healthcare, and government sectors, which are generating and processing vast amounts of data daily.
Vietnam’s digital transformation is creating opportunities for local and international players to invest in state-of-the-art data infrastructure. This growth is seen as critical to supporting the nation’s expanding digital economy, with enhanced data storage capacity enabling improved efficiency and innovation across various industries.
The market’s upward trajectory highlights Vietnam’s increasing role as a digital hub in Southeast Asia.
See also: How to Open a Data Centre in Vietnam