2016 – 2026
VIETNAM ARTIFICIAL INTELLIGENCE MARKET FORECAST & OPPORTUNITIES
www.techsciresearch.com MARKET INTELLIGENCE . CONSULTING
Scope of Report Product of Interest (POI): Artificial Intelligence
Artificial Intelligence refers to the development of computer systems or machines that are able to do tasks generally done by the Human Intelligence like recognizing different images, different speech , different gestures or understanding the human language. These machines are also able to take decisions by self learning from the nearby environment.
Market Segmentation DEPLOYMENT MODE
COMPONENT •
•
•
© TechSci Research
Hardware •
Microprocessors
•
GPUs
•
Field Programmable Gate Arrays
•
Others
Software
REGION
•
Cloud-Based
•
North Vietnam
•
On-Premises
•
South Vietnam
Review Period
•
Central Vietnam
2016 – 2019
TECHNOLOGY
END VERTICALS •
Healthcare
•
Machine Learning
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Natural Language
•
AI APIs
•
Retail
•
AI Frameworks
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BFSI
•
Others
•
Automotive
•
Computer Vision
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Advertising and Media
•
Others
Services
Year Range
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Managed
•
Manufacturing
•
Professional
•
IT & Telecom
•
Others
Processing
Base Year
2020 Estimated Year
2021 Forecast Period
2022 – 2026
2
Table of Contents S. No.
Contents
1.
Product Overview (A brief description of the category and product inclusions considered under the scope of the study to give clear picture to the client about the product of interest.)
2.
Research Methodology (Detailed description of the methodology used to conduct the research, Raw data backup, list of all secondary sources, List of respondents for primary surveys)
3.
Impact of COVID-19 on Vietnam Artificial Intelligence Market
4.
Executive Summary
5.
Voice of Customer
6.
5.1.
AI Adoption Readiness
5.2.
Key Reasons to Adopt AI
5.3.
AI Satisfaction Based on Various Parameters
5.4.
Key AI Related Challenges Faced
Page No.
Vietnam Artificial Intelligence Market Outlook, 2016-2026F (This chapter includes a brief overview of the product of interest market such as total market’s growth rate, expected growth rate, key growth levers, leading region, top grossing product types, etc. It includes more of a qualitative information about the market.) 6.1.
Market Size & Forecast 6.1.1.
6.2.
By Value
Market Share & Forecast 6.2.1.
6.2.2.
By Component (Hardware, Software, & Services)
6.2.1.1.
By Hardware (Microprocessors, GPUs, Field Programmable Gate Arrays, Others)
6.2.1.2.
By Software (AI APIs, AI Frameworks, Others)
6.2.1.3.
By Services (Managed, Professional)
By Technology (Machine Learning, Natural Language Processing, Computer Vision, Others)
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Table of Contents S. No.
Contents
6.3. 7.
6.2.3.
By Deployment Mode (Cloud-Based & On-Premises)
6.2.4.
By End-Verticals (Healthcare, Retail, BFSI, Automotive, Advertising and Media, Manufacturing, IT & Telecom & Others)
6.2.5.
By Region
6.2.6.
By Company (2020)
Product Market Map
North Vietnam Artificial Intelligence Market Outlook 7.1.
Market Size & Forecast 7.1.1.
7.2.
8.
Page No.
By Value
Market Share & Forecast 7.2.1.
By Component
7.2.2.
By Technology
7.2.3.
By Deployment Mode
7.2.4.
By End-Verticals
South Vietnam Artificial Intelligence Market Outlook 8.1.
Market Size & Forecast 8.1.1.
8.2.
By Value
Market Share & Forecast 8.2.1.
By Component
8.2.2.
By Technology
8.2.3.
By Deployment Mode
8.2.4.
By End-Verticals
4
Table of Contents S. No. 9.
Contents Central Vietnam Artificial Intelligence Market Outlook 9.1.
Market Size & Forecast 9.1.1.
9.2.
10.
Page No.
By Value
Market Share & Forecast 9.2.1.
By Component
9.2.2.
By Technology
9.2.3.
By Deployment Mode
9.2.4.
By End-Verticals
Market Dynamics (This chapter assesses the major demand drivers and restraints.)
10.1.
Drivers
10.2.
Challenges
11.
Market Trends & Developments (This section captures recent trends pertaining to manufacturing or consumption, market movements in terms of points of production and consumption, advancements and development)
12.
Policy & Regulatory Landscape of Vietnam Artificial Intelligence Market
13.
Vietnam Economic Profile
14.
Competitive Landscape 14.1.
Company Profiles 14.1.1.
Company Details
14.1.2.
Products & Services
14.1.3
Financials (As Reported)
14.1.4.
Key Market Focus & Geographical Presence
5
Table of Contents S. No.
15. 16.
Contents 14.1.5.
Recent Developments
14.1.6.
Key Management Personnel
Page No.
Strategic Recommendations (Based on the findings of the report strategic recommendations on how to enter and expand market share) About Us & Disclaimer
6
RESEARCH METHODOLOGY
Research Methodology
Market Profiling
In-depth secondary research was conducted to determine top players in the Vietnam artificial intelligence market, overall market size and segmental market size.
Formulating Questionnaire
In order to conduct industry experts’ interviews, TechSci formulated a detailed discussion guide.
Developing List of Respondents
Data Collection
Data Validation
Data obtained as a result of primary and secondary research was validated through rigorous triangulation.
TechSci conducted interviews with industry experts and industry players for data collection and verification.
List of industry players and industry specialists was developed.
Primary Research
Data Collection
Data Filter & Analysis
Research & Intelligence
Actionable Insights
Business Solution
LinkedIn TechSci Internal Database
✓ Recent Developments ✓ Market Changing Aspects/Dynamics ✓ Government Policies ✓ Conclusion
✓ Identifying Key Opinion Leaders ✓ Questionnaire Design ✓ In-depth Interviews
Primary Research ✓ ✓
Desk Research
Secondary Research ✓ ✓ ✓ ✓ ✓ ✓ ✓
Company Websites Company Annual Reports White Paper Study Financial Reports Investor Presentations Regulatory Body Associations, etc.
Data Analysis
The data was scrutinized using MS-Excel, statistical tools and internal proprietary database to obtain qualitative and quantitative insights about the Vietnam artificial intelligence market
Company Analysis ✓ Market Participants ✓ Key Strengths
Paid Sources
✓ ✓ ✓ ✓ ✓ ✓
Factiva Hoovers Euromonitor Statista S&P Capital IQ EMIS.com
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Research Methodology Baseline Methodology
Our dedicated team of industry experts has monitored and analyzed various aspects of Vietnam artificial intelligence market. The team has analyzed the outlook of various segments of this market, while considering the major influencing factors such as artificial intelligence. The study includes market forecasting, which would enable our clients to take better decisions while planning their strategy to achieve sustainability in Vietnam artificial intelligence market.
Methodology Followed for Calculation of Market Size:
•
Market Size By Value: Market size, in terms of value, for the year 2020 was calculated based on information collected through exhaustive secondary research and primary surveys, with various key opinion leaders/stakeholders, such as artificial intelligence companies, channel partners, market influencers & end users, industry experts, and other industry participants.
•
The team interviewed more than 15 – 20 artificial intelligence companies, 95 – 100 channel partners, 125 – 150 end users, and 8 – 10 industry experts and other value chain stakeholders in Vietnam artificial intelligence market to obtain the overall market size from 2016 to 2020, which was validated by the Delphi technique. Taking standard deviation into consideration, the market size was averaged out, to arrive at the market
size data during 2016-2020.
9
Research Methodology •
Respondents were asked about the current and future market growth rates, market shares by component, by technology, by deployment mode, by end-verticals, by region and by company. Removing the outlier responses, the geometric mean of growth estimates and supplier wise revenue shares generated across various segments were considered, to arrive at the final revenue shares. Revenue shares generated across various segments were further triangulated from other stakeholders.
Methodology Followed for Calculation of Market Shares: Market shares by component, by technology, by deployment mode, by end-verticals, by region and by company were calculated based on the responses received through primary surveys with industry experts, in which the respondents were asked about the market shares or revenue generated from various segments of artificial intelligence market. The final shares were calculated by taking the geometric mean of the responses gathered from key opinion leaders after eliminating the outliers.
Methodology Followed for Forecasting: •
TechSci Research performed periodical checks on data collected through the surveys with logic checks and analyzed the survey results in SPSS/Tableau Software.
•
Data triangulation techniques were applied to fill the gaps and to present a more meaningful picture of the market. To forecast Vietnam artificial intelligence market, TechSci Research used various forecast techniques such as:
✓
Moving Average
✓
Time Series Analysis
✓
Regression Analysis
✓
Econometric and Judgmental Analysis
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Research Methodology TechSci Research used its own forecast tool, which is based on the growth of various allied industries in respective regions. TechSci Research also used the impact analysis during short, medium and long term period to estimate the demand and to reach accurate market numbers. It should be
noted that the figures compiled are only for the organized market including market share data.
Partial List of Companies Interviewed
Key Secondary Sources
▪
FPT Software
▪
World Bank
▪
Viettel Group
▪
TechSci Research Proprietary Database & Knowledge Repository
▪
IBM Vietnam Co. Ltd
▪
Company Annual Reports
▪
Google LLC
▪
Industry Magazines
▪
TMA Solutions
▪
Industry Reports
▪
Microsoft Vietnam LLC
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News Dailies
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TPS Software Corp.
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Credible Paid Databases
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Zalo Group
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Ekoios Technology
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MTI Technology., Co Ltd
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Industry Brief High proliferation of the smart devices and the rise in the number of start-ups is expected to drive the demand for Vietnam artificial intelligence market in the forecast period. According to TechSci Research report, “Vietnam Artificial Intelligence Market By Component (Hardware, Software, & Services) By Technology (Deep Learning, Machine Learning, Natural Language Processing, Image Processing, Others) By Deployment Mode (Cloud-Based & On-Premises) By End-Verticals (Healthcare, Retail, BSFI, Automotive, Advertising and Media, Manufacturing, IT & Telecom & Others), Company Forecast & Opportunities, 2026”, The Vietnam artificial intelligence market is expected to witness steady growth in the forecast period, 2022-2026. The rise in the demand for the analysis of historical datasets to predict the upcoming trends of the market is expected to influence the growth of the artificial intelligence market. The development of cloud computing technology and the rise in the demand for analysis and interpret large volumes of data is expected to influence the artificial intelligence market growth. The COVID-19 outbreak across the world which has been declared as a pandemic by World Health Organization has affected several countries adversely. Coronavirus-affected patients started suffering from shortness of breath along with coughing and sneezing. Leading authorities in Vietnam imposed lockdown restrictions and released a set of precautionary measures to contain the spread of novel coronavirus. Tech companies implemented the mandated work from home policy to fight against the coronavirus. Companies are also expanding their portfolio and providing extra support to consumers to influence the demand of the artificial intelligence market. The rise in the adoption of artificial intelligence technology in the healthcare sector for the detection of coronavirus and help in the diagnosis of various diseases is fueling the demand for the artificial intelligence market in the forecast period. However, the rise in concerns about data security and privacy and the unavailability of skilled professionals may hamper the growth of the artificial intelligence market in the next five years. Vietnam artificial intelligence market is segmented into component, technology, deployment mode, end-verticals, regional distribution, and company. Based on the technology, the market can be divided into deep learning, machine learning, natural language processing, image processing, and others. The deep learning segment is expected to witness significant growth in the forecast period, 2022-2026. The application of deep learning technology including the complicated datadriven applications in addition to text or speech recognition is influencing the demand for this technology. The rise in the deployment of cloud-based platforms and advanced hardware equipment for efficiently managing the large volumes of data thereby fostering the demand for artificial intelligence market growth. Based on the end-verticals, the market can be divided into healthcare, retail, BFSI, automotive, advertising and media, manufacturing, IT & telecom & others. The healthcare sector is expected to account for a major market share in the next five years owing to its growing use in different applications in the healthcare industry including automated image diagnosis, hospital workflow management, robot-assisted surgery, virtual nursing assistants, among others. Based on the deployment mode, the market can be bifurcated into cloud-based & on-premises. The cloud-based segment is expected to witness growth in the forecast period owing to the multiple benefits offered by cloud technology. High scalability, high accessibility, reduced operational costs, and the easy deployment of cloudbased technology are further accelerating the demand of the artificial intelligence market. FPT Software, TMA Solutions, TPS Software Corporation, Zalo, MTI Technology, Ekoios Technology, AgileTech Vietnam, Kyanon Digital, Beet Innovators, GRDAI are the leading players operating in Vietnam artificial intelligence market. Service providers are increasingly focusing on research and development process to fuel higher growth in the market. To meet evolving customer demand with respect to better efficiency and durability, several artificial intelligence service providers are coming up with their technologically advanced offerings. “The rise in the development of the communication infrastructure and the expected roll-out of 5G technology is contributing to providing fast internet services in Vietnam. The growth in the adoption of online gaming by the large youth population that uses interactive graphics and technology to provide a seamless realtime gaming experience to the players is expected to create huge growth potential for the booming gaming industry in Vietnam. The high investments for the adoption of the latest technologies by the online gaming market players and the use of artificial intelligence technology in the organizations for efficient data management are expected to propel the growth of the artificial intelligence market till 2026” said Mr. Karan Chechi, Research Director with TechSci Research, a research-based global management consulting firm.
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Sample Data - Snapshot Vietnam Artificial Intelligence Market Size, By Value (USD Million), 2016–2026F 5.00
2016
6.00
7.00
8.00
CAGR By Value
XX%
9.00
10.00
2020
2021E
12.00
11.00
14.00
13.00
CAGR By Value
15.00
2026F
YY%
Vietnam Artificial Intelligence Market Share, By Component, By Value, 2016–2026F Hardware 2026F 2025F 2024F 2023F 2022F 2021E 2020 2019 2018 2017 2016
Software
33% 33% 33% 33% 33% 33% 33% 33% 33% 33% 33%
Services
33% 33% 33% 33% 33% 33% 33% 33% 33% 33% 33%
34% 34% 34% 34% 34% 34% 34% 34% 34% 34% 34%
North Vietnam Artificial Intelligence Market Share, By Hardware, By Value, 2016–2026F Microprocessors 2026F 2025F 2024F 2023F 2022F 2021E 2020 2019 2018 2017 2016
25% 25% 25% 25% 25% 25% 25% 25% 25% 25% 25%
GPUs 25% 25% 25% 25% 25% 25% 25% 25% 25% 25% 25%
Field Programmable Gate Arrays 25% 25% 25% 25% 25% 25% 25% 25% 25% 25% 25%
Others 25% 25% 25% 25% 25% 25% 25% 25% 25% 25% 25%
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FORECAST & OPPORTUNITIES 2016 – 2026 License Type
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TechSci Research is a global market research and consulting company with offices in the US, UK and India. TechSci Research provides market research reports in number of areas to organizations. The company uses innovative business models that focus on improving productivity, while ensuring creation of high-quality reports. The proprietary forecasting models use various analyses of both industry-specific and macroeconomic variables on a state-by-state basis to produce a unique ‘bottom-up’ model of a country, regional and global industry prospects. Combined with the detailed analysis of company activity and industry trends, the result is a uniquely rich evaluation of the opportunities available in the market.
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Disclaimer The contents of this report are based on information generally available to the public from sources believed to be reliable. No representation is made that it is timely, accurate or complete. TechSci Research has taken due care and caution in compilation of data as this has been obtained from various sources including which it considers reliable and first hand. However, TechSci Research does not guarantee the accuracy, adequacy or completeness of any information and it is not responsible for any errors or omissions or for the results obtained from the use of such information and especially states that it has no financial liability whatsoever to the subscribers / users of this report. The information herein, together with all estimates and forecasts, can change without notice. All the figures provided in this document are indicative of relative market size and are strictly for client’s internal consumption. Usage of the same for purpose other than internal will require prior approval of TechSci Research.
