With impressive average growth of 20-30 per cent a year forecast during the 2020-2026 period, Vietnam’s cloud computing market is forecast to hit $1 billion by 2025.

The market has totaled around $400 million to date, the Data Center and Cloud Infrastructure Summit 2023 (DCCI Summit 2023) on March 6 in Hanoi heard.

The Summit aimed to further promote the journey towards digital transformation while offering useful solutions and feasible applications for the practical management and operations of businesses.

In the “Cloud Room” session, participants discussed new solutions and tools to promote the “cloud journey” for businesses as well as advanced cloud security methods and the application of modernizing tactics.

Vietnam is viewed as one of ten emerging market in the data center and cloud computing market. However, domestic enterprises account for only some 20 per cent of market share while foreign partners hold the remainder.