Vietnam Television Market Outlook to 2030

The Vietnam Television Market was valued at USD 785 Mn in 2024, based on retail sales revenue for TV hardware only. The same base year also implies 3.85 Mn units sold, which translates into a blended ASP of about USD 204 per unit. The market definition excludes pay-TV subscriptions, OTT service revenue, and advertising, so the figure reflects the monetized hardware opportunity available to brands, distributors, and retailers. Within that base, Smart TV is already the largest revenue pool, confirming that connected displays now anchor mainstream consumer demand rather than being limited to premium urban niches.

The Vietnam Television Market is projected to expand at a 5.9% CAGR during 2025-2030, reaching USD 1,107 Mn by 2030. This is faster than the 4.1% CAGR recorded during 2019-2024, indicating that the next cycle is expected to be more structurally favorable than the last one. Growth is not being driven only by unit expansion; it is also supported by premiumization, a rising smart TV mix, and a gradual increase in realized selling prices. That matters because a market with moderate unit growth but stronger value density generally supports better returns on merchandising, marketing, and financing investments.

The main profit pool is shifting away from basic flat-panel replacement and toward connected, larger, and premium display formats. Smart TV already represented 55.0% of 2024 market value, while QLED / Mini-LED is the fastest-growing segment at 14.2% CAGR through 2029. By contrast, CRT / legacy products are structurally contracting. This means the market is not merely replacing installed units; it is reallocating revenue toward display technologies and product features that support higher ASPs. Brands that control software integration, premium merchandising, and financing should therefore capture disproportionate economic upside versus low-price assemblers.

The biggest structural risk is import-linked cost exposure in a market where value creation is still heavily dependent on upstream components sourced outside Vietnam. Trade openness is high, and TV hardware economics remain sensitive to panel costs, freight, and currency movement. Even where local assembly exists, the market still relies on imported value content for competitive product performance. That creates a margin challenge in price-sensitive categories, especially when brands compete for share through promotions. The risk is most acute in mass LED segments, where pass-through power is weaker and customers compare offers aggressively across online and offline channels.

Vietnam ranks third among the selected ASEAN peer set used in this report, behind Indonesia and Thailand, but ahead of the Philippines and Malaysia in 2024 market value terms. Its competitive position is notable because it combines sizeable population scale with stronger growth momentum than more mature peers. Vietnam's 5.9% forecast CAGR is above Thailand's 4.1% and Malaysia's 4.3%, while still slightly ahead of the Philippines. This combination of current scale and above-peer growth creates a relatively attractive entry profile: the market is already material, but it has not yet reached the maturity level that typically compresses category upside.

The most important underlying demand factor is connected-household readiness. Vietnam's telecom infrastructure plan targets fiber access for all 27 Mn households in 2024-2025, and internet usage has already reached 84% of the population. That matters because smart televisions capture more value when households can actually use streaming apps, casting, software updates, and connected ecosystems. In practical terms, broadband depth converts televisions from durable screens into software-enabled entertainment hubs. The commercial implication is clear: the better the household connectivity environment, the stronger the case for smart TV, larger-screen, and premium display replacement.