Vietnam Artificial Intelligence (AI) Market: Key Challenges and Growth Drivers

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The Vietnam Artificial Intelligence (AI) market has witnessed significant growth, driven by the rapid adoption of advanced technologies and the internet. According to a report by TechSci Research titled "Vietnam Artificial Intelligence Market - By Region, Competition, Forecast & Opportunities, 2028," the development of AI in Vietnam has been greatly supported by market forces. The IT giants' substantial investments in research and development have contributed to continuous technological advancements across various industries.

The popularity of life-saving medical products and the emergence of self-driving capabilities in new electric vehicles have fueled the rapid expansion of the Vietnam AI sector. There is an increasing demand for automation solutions in small and medium-sized enterprises (SMEs) as well as major businesses. Additionally, corporate organizations are embracing digital transformation, further driving the growth of the AI market.

In the post-pandemic phase, businesses are focusing on strategies to enhance productivity and overall efficiency. Consequently, companies are expected to make substantial investments in artificial intelligence (AI) products in the coming years. AI applications such as workflow management systems, trend projections, and intelligent advertising are being leveraged to boost productivity in unprecedented ways. AI technology can quickly identify anomalies, such as spam and fraud, alerting businesses to suspicious activities while minimizing errors and improving overall organizational effectiveness.

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In this report, the Vietnam Artificial Intelligence (AI) Market has been segmented into the following categories, in addition to the industry trends which have also been detailed below:

Vietnam Artificial Intelligence (AI) Market, By Component:

• Hardware
• Software
• Services

Vietnam Artificial Intelligence (AI) Market, By Technology:

• Machine Learning
• Natural Language Processing
• Others

Vietnam Artificial Intelligence (AI) Market, By Deployment:

• Cloud
• On-premises

Vietnam Artificial Intelligence (AI) Market, By Industry:

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

Vietnam Artificial Intelligence (AI) Market, By Region:

• Northern Vietnam
• Central Vietnam
• Southern Vietnam

Among these segments, the manufacturing industry is the largest contributor to the Vietnam AI market. AI provides significant value to the manufacturing sector, particularly in planning and operations on the production floor. The development of 4IR (Fourth Industrial Revolution) technologies, including intelligent manufacturing and digital factories, is set to revolutionize the industry. Manufacturers are increasingly investing in AI and machine learning technologies to reduce production costs and accelerate time to market. By automating tasks, predicting disruptions, and ensuring end-to-end control of operations, AI empowers manufacturers to build more resilient businesses.

Key market players in the Vietnam Artificial Intelligence (AI) Market include:

• FPT Software LLC
• TECHVIFY SOFTWARE., JSC
• KMS Technology Vietnam
• Orient Software Development Corp.
• Rikkeisoft
• Kyanon Digital
• TMA Solutions
• Harvey Nash (Vietnam) Company Ltd.
• TP&P Technology
• Agile Tech Vietnam.

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The convergence of cloud computing and artificial intelligence in modern AI tools offers enhanced value and process efficiency. AI software bridges the gap between technological advancements and cloud computing, catering to the needs of startups and new companies. The AI cloud enables the convergence of AI hardware and software, creating a hybrid system that resembles the human brain. This integration is crucial for incorporating new technologies and enhancing overall process viability.

Mr. Karan Chechi, Research Director at TechSci Research, emphasized the growing influence of AI in Vietnam. Factors such as the rise in healthcare facilities following the COVID-19 outbreak, increasing automation, and the adoption of machine learning are driving the widespread adoption of AI. AI is revolutionizing activities that were previously carried out using conventional methods. The optimization of data and information processing will heavily rely on AI scenario planning in the future. AI advancements will lead to the development of innovative scenario-related models that can respond to external stimuli, further propelling the market.

The report "Vietnam Artificial Intelligence Market By Component (Hardware, Software, Services), By Technology (Machine Learning, Natural Language Processing, Others), By Deployment (Cloud, On-premises), By Industry (IT & Telecom, Healthcare, Retail & E-Commerce, Logistics & Transportation, Manufacturing, Consumer Electronics, BFSI, Others), By Region, Competition, Forecast and Opportunities, 2028" provides comprehensive market intelligence, including market structure, size, share, and future growth projections. It also identifies emerging trends, drivers, challenges, and opportunities in the Vietnam Artificial Intelligence Market, equipping decision-makers with vital insights for making informed investment decisions.

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