Vietnam Generative AI Market Analysis, Size, and Forecast by Component, Deployment Model, Business Function, Technique, End User: 2019-2032

Vietnam Generative AI Market Snapshot

• Vietnam generative AI market is expected to witness substantial growth in the coming years, expanding at a CAGR of 26.04% from 2024 to2032, to achieve market value of US$ 1,098.2 million by 2032.
• The IT and Telecom industry in Vietnam stood at US$ 35.6 million in 2023.
• Among the different segments within the generative AI market, the IT and Telecom segment is estimated to be the largest segment in the Vietnam, with US$ 57.5 million in 2024.
• By end user, the IT and Telecom sector to remain leading segment in the Vietnam generative AI market throughout the forecast period, with 26.71 % CAGR.
• In order to gain a competitive edge in the market, major players are actively seeking partnerships, mergers, acquisitions, and product launches. For instance, in April 2024, FPT, a leading technology firm in Vietnam, revealed plans to build a $200 million artificial intelligence (AI) factory using Nvidia's graphics chips and software. This facility, identified as a sovereign cloud, will integrate Nvidia's advanced technologies like the NVIDIA AI Enterprise software and frameworks alongside NVIDIA H100 Tensor Core GPUs. FPT's initiative is crucial in advancing AI research and development, crafting AI applications and solutions, with a specific focus on generative AI, autonomous driving, and fostering sustainability through green transformation.
• In addition, in October 2023, FPT and Landing AI, a leading US company in computer vision and artificial intelligence (AI) software, announced a strategic partnership aimed at advancing AI application and education. The partnership signifies a significant step forward in AI cooperation between Vietnam and the United States.

Vietnam Generative AI Industry Coverage