Vietnam Graphic Design Market Outlook to 2030

Vietnam Graphic Design Market Overview

• The Vietnam Graphic Design market is valued at USD 1.3 billion, driven primarily by the surge in demand from the digital economy, especially as businesses shift towards online platforms. As e-commerce and digital marketing industries expand, graphic design services become integral to brand-building efforts. The growth is also fueled by rising investments in technology and the increased use of digital tools in industries such as education, retail, and corporate sectors. This growing demand for visual content continues to drive market growth.
• Ho Chi Minh City and Hanoi dominate the Vietnam graphic design market due to their strong economic infrastructure, growing startup culture, and the presence of major multinational corporations. These cities have a higher concentration of media agencies, design firms, and large brands, creating a robust demand for advanced design solutions. The presence of universities and art schools also contributes to the concentration of skilled professionals in these urban areas, further bolstering their dominance in the market.
• The Vietnamese government provides tax incentives for companies engaged in the creative and tech sectors, offering a 10% corporate tax rate for the first 15 years. In 2023, over 1,000 companies benefited from this tax scheme, particularly those involved in digital services, including graphic design. These policies encourage innovation and investment in creative technologies, offering graphic design companies a more conducive environment for growth and competitiveness in the global market.

Vietnam Graphic Design Market Segmentation

• By Product Type: Vietnam's graphic design market is segmented into branding and logo design, web design, print media design, and motion graphics and animation. Branding and logo design hold the dominant share, accounting for 40% of the market in 2023, due to the increased focus of businesses on establishing strong brand identities. Large corporations and new startups alike are investing significantly in logo and branding strategies, as the digital shift makes visual identity critical to market recognition.

• By End-User Industry: The market is segmented by end-user industry into media & entertainment, e-commerce, corporate and B2B services, and education and nonprofits. Media & entertainment commands 35% of the market share in 2023 due to the increasing production of visual content for advertising, television, and digital platforms. With the rapid growth of social media and streaming services, media companies require compelling and engaging designs to capture the attention of their audiences.

Vietnam Graphic Design Market Competitive Landscape

The Vietnam Graphic Design market is dominated by a combination of local and international firms, with notable players establishing strong presences through innovative design offerings, client portfolios, and creative solutions. Leading firms such as Design Bold and Red Cat Motion have gained prominence due to their advanced capabilities and strong reputation in the digital design sector. Additionally, these companies leverage the rapidly growing e-commerce industry and work with global corporations to provide high-end visual content.

Vietnam Graphic Design Industry Analysis

Growth Drivers

• Digital Transformation of Vietnamese Businesses: Vietnam has been witnessing rapid digital transformation across businesses, driven by the government's push for digitization and e-government initiatives. The country ranked 86th in the 2023 United Nations E-Government Development Index, indicating steady progress. The national digital transformation program aims to digitize 50% of all businesses by 2025. In 2022, over 40,000 new Vietnamese businesses registered, many of which rely on digital tools like graphic design for branding and marketing. This surge highlights the increasing demand for professional design services to maintain a competitive digital presence.
• Increasing Adoption of E-commerce Platforms: Vietnam's e-commerce sector is booming, with over 74 million internet users in 2023, reflecting a growing demand for online retail services. E-commerce revenues surpassed USD 20 billion in 2022, pushing businesses to adopt more refined graphic design to enhance their digital storefronts and product branding. The governments "National E-commerce Development Plan" aims to have 55% of the population participating in online shopping by 2025, reinforcing the need for better visual design across online platforms to attract and retain customers.
• Government Support for Digital Economy Growth: The Vietnamese government has been pivotal in promoting the digital economy, with an estimated budget allocation of USD 415 million in 2022 to foster tech innovation, including creative industries. Government-backed programs like "Vietnam Digital Transformation 2025" aim to increase the digital economys share of GDP to 20%. With 23% of Vietnamese businesses already leveraging digital content for branding and marketing by 2023, graphic design plays a crucial role in the visual representation of their brands.

Market Restraints

• Shortage of Skilled Designers: Vietnam faces a talent gap in the creative industry, with an estimated shortage of 30,000 skilled designers in 2023. Despite a growing demand for design professionals, many institutions are yet to align their curricula with global standards, leading to a mismatch in skills. The creative workforce has not kept pace with the needs of the expanding graphic design market, especially in areas like UI/UX and motion graphics, creating a bottleneck in the sectors growth potential.
• High Cost of Advanced Design Software: The cost of adopting advanced design software continues to challenge businesses, especially small and medium enterprises (SMEs). Subscription models for industry-standard software like Adobe Creative Cloud start at USD 636 annually, which is expensive for many local companies. Given that SMEs account for 98% of businesses in Vietnam, the financial burden of purchasing these tools can hinder widespread adoption of cutting-edge design technologies. This cost issue directly impacts the capacity of companies to produce high-quality digital content at scale.

Vietnam Graphic Design Market Future Outlook

Over the next five years, the Vietnam Graphic Design market is expected to experience significant growth driven by increasing digitalization, government support for creative industries, and the rise of e-commerce platforms. Graphic design will continue to play a key role in brand identity creation as businesses expand their online presence. The integration of AI and automation tools in the design process will further enhance the efficiency of creative work, enabling faster turnarounds and higher output for design firms.

Market Opportunities

• Expansion of Freelance Platforms: Freelance platforms like Upwork and Fiverr have seen significant adoption in Vietnam, with over 500,000 Vietnamese freelancers engaging in digital services in 2022. The growth of these platforms offers graphic designers greater opportunities to reach international clients, while small businesses benefit from affordable, high-quality design services. As digital transformation accelerates, freelance graphic designers are expected to play a more substantial role in supporting the growing demand for creative services both domestically and globally.
• Growing Demand for Animation and Motion Graphics: The demand for motion graphics and animation is rising in Vietnam, especially within sectors like advertising, education, and entertainment. With the local animation industry growing steadily and contributing an estimated USD 53 million to the economy in 2022, motion graphics have become crucial in digital marketing strategies. The rise of animated content in social media and online platforms is an opportunity for graphic designers to expand their service offerings and capitalize on this trend.