According to a new report from Synergy Research Group, the global cloud infrastructure services market value increased sharply by 23 per cent in the first quarter of 2025, reaching $93.9 billion. This growth is equivalent to the market increasing by $17.5 billion compared to the same period last year.
The Gartner report from 2024 also predicted that the global cloud computing market is expected to reach a value of $678 billion by the end of this year, with an average annual growth rate exceeding 20 per cent. This development reflects the importance of cloud technology in providing flexible, efficient and cost-effective solutions compared to traditional infrastructure models.
According to experts, with the development of AI, blockchain, and the Internet of Things (IoT), cloud computing is expected to integrate many new solutions to improve the automation, security and scalability of services. Businesses and governments will have more tools to manage data and operate systems more effectively.
In Vietnam, the cloud services market reached $196 million in 2020, and is expected to reach a compound annual growth rate (CAGR) of 18.8 per cent until 2026, according to Research and Markets. And a report from Viettel also predicts that the size of Vietnam’s cloud computing service market will reach more than $1.2 billion by 2030.
According to the Ministry of Science and Technology (MoST), Vietnam’s cloud development strategy will remain closely aligned with the goals of the national digital transformation scheme. The focus will be on expanding services, advancing research and innovation, and integrating emerging technologies to boost national competitiveness.
“We can expect that in the future, this platform will become a centre providing international standard cloud computing services, contributing to making Vietnam a digital technology centre in the region,” said an MoST representative.
On June 11, Deputy Prime Minister Nguyen Chi Dung signed off on a national action programme for cloud computing development. The initiative aims to prioritise resources, advance technological capabilities, foster innovation, and encourage the application of cloud computing to build a modern, secure, and sustainable digital infrastructure with high-performance computing capacity.
It also seeks to enhance national competitiveness, drive growth in the digital economy, and support broader socioeconomic development goals. By 2030, it aims to position Vietnam among ASEAN’s leaders in data centres and cloud computing services, paving the way towards becoming a high-income, developed nation by 2045.
Under the plan, all state agencies and enterprises are expected to adopt cloud computing services by 2030. To support this goal, Vietnam aims to attract both domestic and foreign investment to develop large-scale, high-performance data centres that meet international standards for safety, sustainability, and environmental responsibility.
As a result, demand for cloud services is expected to grow, particularly among technology firms and startups that are shifting from traditional to digital business models.
The Vietnamese market currently hosts more than 40 cloud computing service providers, including major local technology firms such as FPT, VNPT, Viettel, and CMC – highlighting the sector’s vibrancy and strong growth potential. International players like AWS, Microsoft, and Google have also established a presence, further underscoring Vietnam’s appeal as a dynamic cloud computing hub.
Growing demand has prompted some Vietnamese companies to change their strategies. About five years ago, VNPT, Viettel, FPT accounted for less than 20 per cent of the market share of the domestic cloud computing market, but recent years have seen that share increase.
Viettel has expanded its investment in data centres, bringing its total to around 14 facilities located across Hanoi, Danang, and Ho Chi Minh City. Similarly, VNPT, VNG, FPT, and CMC are also ramping up efforts by building additional data centres and advancing research and development of cloud-based service offerings.
In response to rapid digital transformation, cloud service providers are rolling out new solutions and services. On June 26, Amazon Web Services (AWS) launched the AWS Innovation Hub in Asia-Pacific and the AI Springboard in Singapore, both aimed at accelerating cloud and AI innovation across the region.
This new facility offers an immersive experience for CEOs and business leaders to interact with AWS and Amazon-wide technologies, and over 30 partner solutions across 50 real-world customer use cases for cloud technology. This will enable Vietnamese businesses to convert big ideas into real business outcomes by combining our comprehensive cloud and AI technology.
Talking to media at the launch of the hub in Singapore in late June, Jaime Valles, vice president for AWS Asia-Pacific and Japan said, “Everywhere we go, customers are talking about innovation and transformation. That is why we are launching the innovation hub. People, technology, and customer feedback are at the centre of everything we do.”
“The Innovation Hub is where everything comes together for our customers. A place to experiment, to innovate, to try new things. To the best of my knowledge, this is the first and only Innovation Hub of its kind in the world today,” he added.
AWS has also introduced new enhanced security services to help organisations better manage emerging threats in the generative AI era. At AWS re:Inforce held in Philadelphia from June 16-18, AWS a suite of new and updated security capabilities to help customers of all sizes strengthen their digital defences was unveiled, including new updates to AWS Security Hub, AWS Shield, and Amazon GuardDuty.
These new tools will allow customers to better protect their digital assets, identify important security issues, defend against cyberattacks, and more.
Tech expert Tien Hoang said, “The AWS Innovation Hub is an important strike, providing opportunities for businesses, including those in Vietnam. With these, Vietnamese enterprises can get access to more new capabilities for their cloud transformation.”
In Vietnam, many businesses have had success with AWS. They include AI Hay, Techcombank, VPBank, VIB, and PvcomBank and others.
Eric Yeo, country general manager, Amazon Web Services Vietnam said, “In Vietnam, major banks, insurers, and financial services providers rely on AWS for their mission-critical workloads, backed by advanced security capabilities, compliance certifications, and operational best practices like the AWS Well-Architected Framework.”
Amazon Web Services is launching its AWS Local Zone in Vietnam as part of its long-term investment commitment to the country’s digital transformation. The company is planning to organise the AWS Cloud Day in Vietnam to bring new tools and services, sharing experiences to Vietnamese customers to help them scale up cloud transformation in the future.
Elsewhere, a business delegation led by Doron Avni, vice president of Government Affairs and Public Policy, Emerging Markets at Google, held a working session with the MoST in Hanoi on July 17.
Google, which is a major cloud service provider, proposed that it could help Vietnam in training workers, exchanging experts, and sending scientists to the US to visit cloud computing laboratories.
The two sides agreed to establish a joint working group to implement cooperation, starting with specific projects with a clear and effective roadmap.
“Vietnam’s recent policy shifts and strong momentum are opening up new opportunities in the cloud computing market, while also intensifying competition among local and international players,” said Hoang.
Deputy Prime Minister Nguyen Chi Dung signed a decision on June 11 approving a national action programme for cloud computing development.
Amazon Web Services (AWS) launched AWS Innovation Hub in Asia-Pacific and AI Springboard in Singapore on June 26 to empower cloud and AI innovation.
Amazon Web Services (AWS) is continuing to introduce new enhanced security services to help organisations better manage emerging threats in the generative AI era.