베트남의 통신 MNO : 시장 점유율 분석, 업계 동향 및 통계, 성장 예측(2026-2031년)

According to Mordor Intelligence, the Vietnam telecom MNO market size was valued at USD 7.22 billion in 2025 and was estimated to grow from USD 7.51 billion in 2026 to reach USD 8.97 billion by 2031, at a CAGR of 3.62% during the forecast period (2026-2031).

This report is Segmented by Service Type (Voice Services, Data and Internet Services, Messaging Services, Iot and M2M Services, OTT and PayTV Services, and More), End-User (Enterprises, and Consumer), and Geography. The Market Forecasts are Provided in Terms of Value (USD).

Vietnam Telecom MNO Market Trends and Insights

Rapid 4G and 5G Rollout Driving Mobile-Data Surge

Operators added about 11,000 5G sites by mid-2025, lifting population coverage to 26% and quadrupling median download speeds compared with the prior year. Viettel alone enrolled more than 5.5 million 5G users by early 2025, and its target of 10 million by December would push 5G penetration of its base toward 10%. Unlimited data plans priced below USD 5, however, prevent proportional revenue gains, so profitability depends on shifting heavy-usage customers onto tiered quality-of-service bundles. Resolution 193 subsidizes 15% of the equipment bill once a carrier deploys at least 20,000 sites, effectively locking the industry into a capacity race that elevates depreciation charges. The highest monetization upside sits in enterprise network slices, where guaranteed latency sells at a premium that is not feasible in the consumer mass market. The Vietnam telecom MNO market therefore remains scale-driven, with capital efficiency, rather than new subscriber acquisition, defining competitive advantage.

National Digital Transformation Program Accelerating Broadband Uptake

Policymakers aim for universal household fiber by end-2025, yet roughly 5.4 million homes, mainly in mountainous areas, still lack wired access. Where trenching costs exceed USD 300 per line, mobile broadband stands in as the practical substitute, supported by the government mandate that half of all traffic run over IPv6 by 2025. Operators upgraded core networks to comply, incidentally lowering incremental costs of onboarding IoT endpoints. The Vietnam telecom MNO market consequently gains a second growth engine because every new fiber-ready premise also requires reliable mobile back-up, and small businesses often adopt 4G or 5G fixed-wireless links before investing in optical connections. Higher enterprise broadband penetration translates into demand for cloud ERP and supply-chain tools, creating recurring traffic that is immune to consumer price wars.

Intensifying Price Wars Compressing ARPU

Unlimited 4G plans below USD 5 became the industry norm in 2024, and by mid-2025 more than two in five postpaid accounts had switched to these tariffs. Viettel's EBITDA margin slipped even as revenue expanded because operating costs for a denser network outpaced top-line gains. Competitors hesitate to raise prices for fear of triggering subscriber churn, which still sits in the low single digits each month but would jump if any operator broke the informal pricing ceiling. Experiments with speed-guaranteed premium tiers remain niche at under 5% take-up, suggesting that a differentiated quality-of-service strategy will take time to gain traction. The Vietnam telecom MNO market therefore remains exposed to a revenue-per-gigabyte squeeze until carriers prove customers will pay meaningfully more for assured experience.

Other drivers and restraints analyzed in the detailed report include:

1. Rising Smartphone Affordability Boosting Data Consumption
2. Government-Backed Industrial IoT Initiatives in Manufacturing Parks
3. High Spectrum Fees and Delayed Refarming Cycles

For complete list of drivers and restraints, kindly check the Table Of Contents.

Segment Analysis

Data and internet services captured 48.62% of 2025 revenue, underscoring how mobile broadband displaced voice as the primary cash engine inside the Vietnam telecom MNO market. Minutes of use fell by roughly 8% that same year, mirroring consumer migration to over-the-top calling tools. Messaging revenue dropped below 3% of the pie, while OTT video and pay-TV platforms became differentiation levers rather than material profit centers because content rights absorb up to half of subscription fees. Enterprise connectivity formats, from dedicated internet access to SD-WAN, now grow at mid-single-digit rates due to multinational firms anchoring regional supply chains in Vietnam. In this context, industrial IoT connections, though still a small share, expand at 4.12% CAGR through 2031, well ahead of the overall Vietnam telecom MNO market trajectory.

The long-tail opportunity lies in turning network capacity into platform plays. Operators built nationwide NB-IoT coverage by 2025 and already link two million smart meters, demonstrating a template for utilities and logistics. Roaming revenue benefited from the rebound in outbound tourism, increasing double digits in 2024 once pandemic barriers vanished. Future upside centers on bundling edge compute with connectivity, which transforms simple megabyte sales into managed services. As consumer voice and SMS decline further, sustained top-line health for the Vietnam telecom MNO market will rely on a diverse service stack anchored in data and IoT.

Complete Report Scope:

• Overall Telecom Revenue and ARPU
• Service Type
  • Voice Services
  • Data and Internet Services
  • Messaging Services
  • IoT and M2M Services
  • OTT and PayTV Services
  • Other Services (VAS, Roaming and International Services, Enterprise and Wholesale Services, etc.)
• End-User
  • Enterprises
  • Consumer

List of Companies Covered in this Report:

1. Viettel Group
2. Vinaphone
3. Mobifone Corporation
4. Vietnamobile
5. Gmobile

Additional Benefits:

• The market estimate (ME) sheet in Excel format
• 3 months of analyst support

TABLE OF CONTENTS

1 INTRODUCTION

• 1.1 Study Assumptions and Market Definition
• 1.2 Scope of the Study

2 RESEARCH METHODOLOGY

3 EXECUTIVE SUMMARY

4 MARKET LANDSCAPE

• 4.1 Market Overview
• 4.2 Regulatory and Policy Framework
• 4.3 Spectrum Landscape and Competitive Holdings
• 4.4 Telecom Industry Ecosystem
• 4.5 Macroeconomic and External Drivers
• 4.6 Porter's Five Forces Analysis
  • 4.6.1 Competitive Rivalry
  • 4.6.2 Threat of New Entrants
  • 4.6.3 Bargaining Power of Suppliers
  • 4.6.4 Bargaining Power of Buyers
  • 4.6.5 Threat of Substitutes
• 4.7 Key MNO KPIs (2020-2025)
  • 4.7.1 Unique Mobile Subscribers and Penetration Rate
  • 4.7.2 Mobile Internet Users and Penetration Rate
  • 4.7.3 SIM Connections by Access Technology and Penetration
  • 4.7.4 Cellular IoT and M2M Connections
  • 4.7.5 Broadband Connections (Mobile and Fixed)
  • 4.7.6 ARPU (Average Revenue Per User)
  • 4.7.7 Average Data Usage per Subscription (GB/month)
• 4.8 Market Drivers
  • 4.8.1 Rapid 4G and 5G Rollout Driving Mobile-Data Surge
  • 4.8.2 National Digital Transformation Program Accelerating Broadband Uptake
  • 4.8.3 Rising Smartphone Affordability Boosting Data Consumption
  • 4.8.4 Government-Backed Industrial IoT Initiatives in Manufacturing Parks
  • 4.8.5 Cross-Border E-Commerce Traffic Spurring Data Demand Along Logistics Corridors
  • 4.8.6 Open RAN Trials Reducing Rural Coverage Cost Structures
• 4.9 Market Restraints
  • 4.9.1 Intensifying Price Wars Compressing ARPU
  • 4.9.2 High Spectrum Fees and Delayed Refarming Cycles
  • 4.9.3 Slow Fiber Backhaul Deployment in Mountainous Provinces
  • 4.9.4 Draft Data-Localization Rules Elevating Edge Infrastructure CAPEX
• 4.10 Technological Outlook
• 4.11 Analysis of Key Business Models in Telecom
• 4.12 Analysis of Pricing Models and Pricing

5 MARKET SIZE AND GROWTH FORECASTS (VALUE)

• 5.1 Overall Telecom Revenue and ARPU
• 5.2 Service Type
  • 5.2.1 Voice Services
  • 5.2.2 Data and Internet Services
  • 5.2.3 Messaging Services
  • 5.2.4 IoT and M2M Services
  • 5.2.5 OTT and PayTV Services
  • 5.2.6 Other Services (VAS, Roaming and International Services, Enterprise and Wholesale Services, etc.)
• 5.3 End-User
  • 5.3.1 Enterprises
  • 5.3.2 Consumer

6 COMPETITIVE LANDSCAPE

• 6.1 Market Concentration
• 6.2 Strategic Moves and Investments by Key Vendors, 2023-2025
• 6.3 Market Share Analysis for MNOs, 2025
• 6.4 Product Benchmarking Analysis for Mobile Network Services
• 6.5 MNO Snapshot (Subscribers, Churn Rate, ARPU, etc.)
• 6.6 Company Profiles of MNOs (Includes Business Overview, Service Portfolio, Financials, Business Strategy and Recent Development, SWOT Analysis)
  • 6.6.1 Viettel Group
  • 6.6.2 Vinaphone
  • 6.6.3 Mobifone Corporation
  • 6.6.4 Vietnamobile
  • 6.6.5 Gmobile

7 MARKET OPPORTUNITIES AND FUTURE OUTLOOK

• 7.1 White-Space and Unmet-Need Assessment