Vietnam Artificial Intelligence Market

Market Overview:

Vietnam artificial intelligence market size reached US$ 547.1 Million in 2023. Looking forward, IMARC Group expects the market to reach US$ 2,064.5 Million by 2032, exhibiting a growth rate (CAGR) of 15.75% during 2024-2032. The increasing digitalization of Vietnamese businesses, rising e-commerce activities, the implementation of favorable governmental policies, growing technology application in the healthcare sector, establishment of smart cities, and the rising collaboration between educational institutions and tech companies represent some of the key factors driving the market.

Artificial intelligence (AI) refers to a domain of computer science that creates machines capable of mimicking human intelligence processes. It utilizes algorithms, software, and hardware designed to perform tasks requiring human intelligence, such as decision-making, pattern recognition, and learning from experience. AI includes machine learning (ML), neural networks, deep learning, and natural language processing (NLP). It provides adaptability, predictive analysis, autonomous functionality, and problem-solving capabilities. AI is utilized in healthcare, finance, automotive, e-commerce, robotics, entertainment, customer service, energy, and transportation. It aids in enhancing productivity, providing precise predictions, automating repetitive tasks, personalizing customer experiences, ensuring efficient resource management, advancing data analytics, improving decision-making, and mitigating risks. Additionally, AI also offers several advantages, such as cost-effectiveness, scalability, consistent performance, competitive advantage, rapid innovation, heightened accuracy, streamlined workflows, advanced insights, and enhanced user engagement.    

Vietnam Artificial Intelligence Market Trends:   

The increasing digitalization of businesses in Vietnam, contributing to the growing demand for AI, is one of the major factors propelling the market growth. In line with this, the heightened adoption of AI solutions by companies to enhance customer experiences, streamline operations, and boost overall productivity is providing a considerable boost to the market growth. Moreover, the rising e-commerce activities, driven by a burgeoning middle class, accelerating the need for AI-driven logistics, recommendation systems, and chatbots, are stimulating the market growth. Additionally, the strategic implementation of governmental policies aimed at transforming the country into a digital economy is fostering the market growth. In confluence with this, the increasing government initiatives to promote startup culture, combined with the sudden shift towards digital transformation, are anticipated to drive the market growth. Along with this, the rapid proliferation of data, coupled with the expansion of the internet and mobile usage, offering AI systems with foundational material to learn, adapt, and improve, is strengthening the market growth. In addition to this, the sudden shift towards incorporating AI in manufacturing for predictive maintenance, quality assurance, and supply chain optimization is acting as a growth-inducing factor. Furthermore, the growing application of AI in the healthcare sector for disease prediction, patient management, and medical imaging is boosting the market growth. Apart from this, the rising collaboration between Vietnamese educational institutions and tech companies to develop AI curricula is providing a thrust to the market growth. Moreover, the increasing adoption of AI solutions in financial institutions for fraud detection, risk management, and personalized banking experiences, paving the way for a more integrated and efficient financial ecosystem, is creating a positive outlook for the market growth.

Vietnam Artificial Intelligence Market Segmentation:

IMARC Group provides an analysis of the key trends in each segment of the market, along with forecasts at the country level for 2024-2032. Our report has categorized the market based on component, technology, and industry.

Component Insights:

• Hardware
• Software
• Services
   

The report has provided a detailed breakup and analysis of the market based on the component. This includes hardware, software, and services.

Technology Insights:

• Machine Learning
• Natural Language Processing
• Others
   

A detailed breakup and analysis of the market based on the technology have also been provided in the report. This includes machine learning, natural language processing, and others.

Industry Insights:

• IT and Telecom
• Healthcare
• Retail and E-Commerce
• Logistics and Transportation
• Manufacturing
• Consumer Electronics
• BFSI
• Others
   

A detailed breakup and analysis of the market based on the industry have also been provided in the report. This includes IT and telecom, healthcare, retail and e-commerce, logistics and transportation, manufacturing, consumer electronics, BFSI, and others.

Regional Insights:

• Northern Vietnam
• Central Vietnam
• Southern Vietnam
   

The report has also provided a comprehensive analysis of all the major regional markets, which include Northern Vietnam, Central Vietnam, and Southern Vietnam.

Competitive Landscape:

The market research report has also provided a comprehensive analysis of the competitive landscape in the market. Competitive analysis such as market structure, key player positioning, top winning strategies, competitive dashboard, and company evaluation quadrant has been covered in the report. Also, detailed profiles of all major companies have been provided.

Vietnam Artificial Intelligence Market Report Coverage:

Key Questions Answered in This Report:

• How has the Vietnam artificial intelligence market performed so far and how will it perform in the coming years?
• What has been the impact of COVID-19 on the Vietnam artificial intelligence market?
• What is the breakup of the Vietnam artificial intelligence market on the basis of component?
• What is the breakup of the Vietnam artificial intelligence market on the basis of technology?
• What is the breakup of the Vietnam artificial intelligence market on the basis of industry?
• What are the various stages in the value chain of the Vietnam artificial intelligence market? 
• What are the key driving factors and challenges in the Vietnam artificial intelligence?
• What is the structure of the Vietnam artificial intelligence market and who are the key players?
• What is the degree of competition in the Vietnam artificial intelligence market? 

Key Benefits for Stakeholders:

• IMARC’s industry report offers a comprehensive quantitative analysis of various market segments, historical and current market trends, market forecasts, and dynamics of the Vietnam artificial intelligence market from 2018-2032.
• The research report provides the latest information on the market drivers, challenges, and opportunities in the Vietnam artificial intelligence market.
• Porter's five forces analysis assist stakeholders in assessing the impact of new entrants, competitive rivalry, supplier power, buyer power, and the threat of substitution. It helps stakeholders to analyze the level of competition within the Vietnam artificial intelligence industry and its attractiveness.
• Competitive landscape allows stakeholders to understand their competitive environment and provides an insight into the current positions of key players in the market.