Vietnam Public Cloud Market is valued at USD 960 Mn in 2024 , measured as industry revenue booked at the primary vendor or service-provider level. The scope includes B2B, B2C, and B2G public cloud revenue, while excluding reseller mark-ups and VAT. This matters because the number reflects vendor-addressable revenue rather than gross transaction value or enterprise IT budgets. The same base year also includes 1.42 million active workload instances and cloud subscriptions , which helps distinguish pure infrastructure scale from monetization quality and supports cleaner vendor benchmarking.

The market is projected to expand to USD 3,292 Mn by 2030 , implying a 22.8% CAGR for 2025-2030 . That forecast is slightly above the estimated 21.5% CAGR delivered in 2019-2024 , which signals acceleration rather than simple continuation. The growth case rests on three linked dynamics: deeper enterprise adoption, stronger domestic infrastructure, and clearer cloud-specific regulation from 2025 onward. Volume is also expected to scale meaningfully, with active workloads moving toward 4.71 million by 2030 , so the market is not relying on price alone.

Profit pools are shifting toward higher-value software, platform, security, and AI-linked services rather than remaining concentrated in basic compute. In 2024, Software as a Service accounted for 32.5% of market revenue , making it the largest segment, but the fastest expansion is expected in Cloud-Based AI & Big Data Analytics at 31.0% CAGR . That combination matters because SaaS anchors current cash generation while AI and analytics lift future margin potential through premium workloads, model operations, data pipelines, and advisory overlays. In contrast, cloud-managed services grow more slowly, which limits their role as the primary value-capture engine.

The most important structural risk is that supply-side readiness may improve faster than enterprise absorption. The World Bank found only 6.9% of firms in Vietnam use cloud computing for business tasks , which means the market still depends on converting a large pool of underpenetrated buyers. At the same time, cybersecurity and compliance burdens are rising, with 2,364 phishing domains targeting major organizations in the first half of 2024 . If buyers delay migration because of skills gaps, governance complexity, or security concerns, workload growth could undershoot infrastructure investment and pressure utilization economics.

Vietnam Public Cloud Market sits in the regional challenger tier by current size but near the growth-leader tier by expansion rate. In the selected ASEAN peer set used in this report, Vietnam ranks 4th in 2024 , behind Indonesia, Singapore, and Malaysia, but ahead of Thailand and the Philippines. What makes the market strategically relevant is not only its current size of USD 960 Mn , but also the pace of enabling infrastructure and policy. Compared with several peers, Vietnam combines a large digital user base, accelerating 5G rollout, and new cloud-specific rules within a tighter time window.

The next cycle will be driven most by digital-economy formalization, network quality improvement, and public-sector data infrastructure. Vietnam’s digital economy reached 18.3% of GDP in 2024 , internet users reached 78.44 million , and Viettel launched 5G with more than 6,500 stations covering all provincial capitals. These indicators matter because they expand both the user-facing workload base and the reliability of cloud-delivered applications. At the same time, government data strategy and digital identity expansion strengthen demand for compliance-heavy, locally supported cloud services in regulated verticals and public agencies.