Market Research Report
Vietnam Blockchain Market, By Component, By Provider, By Type, By Organization Size, By Application Area, By Region, Competition Forecast & Opportunities, 2017-2027
|Vietnam Blockchain Market, By Component, By Provider, By Type, By Organization Size, By Application Area, By Region, Competition Forecast & Opportunities, 2017-2027|
Published: May 1, 2022
Content info: 76 Pages
Delivery time: 2-3 business days
Vietnam Blockchain market is projected to grow at a formidable rate during the forecast period. The market growth can be attributed to the increasing awareness of the benefits of buying cryptocurrency and venture capital funding in Blockchain technology companies. Market players are making more efforts to improve their services and make Blockchain technology more effective and efficient in the near future. Growing strategic initiatives in the decentralized finance space and accepting cryptocurrency as a payment by companies are anticipated to drive its growth. Various market players are collaborating with cryptocurrency solution providers to provide cryptocurrency-based payments to their customers. Many companies are integrating artificial intelligence capabilities with Blockchain to enhance their offerings and create new opportunities, boosting the growth of the Vietnam Blockchain market. The increasing number of regulations for protecting consumer data and the rising adoption of Blockchain technology in the healthcare sector to protect consumer information owing to increasing incidences of data theft and breaches are aiding the growth of the Vietnam Blockchain market. Growing digitalization in all the prominent industry verticals and rising smartphone penetration are also propelling the demand for the Vietnam Blockchain market in the next five years. Advanced cybersecurity solutions and extensive use of Blockchain solutions for making online transactions and smart contracts are projected to drive the growth of the Vietnam Blockchain market. The launch of bitcoin and high demand for business applications comprising digital identity, smart contracts, documentation, exchanges, etc. Moreover, the rising deployment rate of Blockchain technology across prominent industry verticals such as e-commerce, banking, and retail is also expected to fuel the growth of the Vietnam Blockchain market. A growing number of initiatives by the government to develop smart cities are accelerating the adoption of combined technologies such as Blockchain, 5G, and facial recognition of sensors, which is expected to fuel the growth of the Vietnam Blockchain market in the next five years. New product launches and enhancements in existing products using digital ledger technology are expected to augment the growth of the Vietnam Blockchain market in the coming years.
The Vietnam Blockchain market is segmented based on component, provider, type, organization size, application area, regional distribution, and company. Based on application, the Vietnam Blockchain market is further divided into transportation and logistics, food & agriculture, manufacturing, energy & utilities, healthcare, media and entertainment, banking and financial services, IT & telecom, and others. The banking and financial services segment is expected to dominate the Vietnam Blockchain market as many companies are heavily investing in Blockchain technologies and the rise of new business models in various areas such as cross-border payments, remittance exchanges, internet banking, trade finance, etc.
Top players in the Vietnam Blockchain market include Ekoios Technology, SOTATEK JSC, InApps Technology, Amaris, Hekate, QSoft Vietnam, Dwarves Foundation, Pearl Data Solutions, Chainos Solution, Techchain Software, etc.
Years considered for this report:
Historical Years: 2017-2020
Base Year: 2021
Estimated Year: 2022E
Forecast Period: 2023F-2027F
Objective of the Study:
TechSci Research performed primary as well as exhaustive secondary research for this study. Initially, TechSci Research sourced a list of Blockchain service providers in Vietnam. Subsequently, TechSci Research conducted primary research surveys with the identified companies. While interviewing, the respondents were also enquired about their competitors. Through this technique, TechSci Research was able to include companies, that could not be identified due to the limitations of secondary research. TechSci Research analysed services and major Blockchain companies across the country.
TechSci Research calculated the market size for the Vietnam Blockchain market using a bottom-up approach, where service providers' value sales data was recorded as well as forecast for the future years was made. TechSci Research sourced these values from industry experts and company representatives, and externally validated through analyzing historical sales data of respective company to arrive at the overall market size. Various secondary sources such as all Vietnam Blockchain market service providers, association, company annual reports, white papers, investor presentations and financial reports were also used by the TechSci Research.
Key Target Audience:
The study is useful in providing answers to several critical questions that are important for industry stakeholders, such as Blockchain service providers and policy makers, which market segments should be targeted over the coming years (next five years) in order to strategize investments and capitalize on growth of the market.
In this report, Vietnam Blockchain market has been segmented into following categories, in addition to the industry trends which have also been detailed below:
Small and Medium Sized Enterprises
Transportation and Logistics
Food & Agriculture
Energy & Utilities
Media and Entertainment
Banking and Financial Services
IT & Telecom
Company Profiles: Detailed analysis of the major companies present in Vietnam Blockchain market.
With the given market data, TechSci Research offers customizations according to a company's specific needs. The following customization options are available for the report: