Vietnam is well known for its rich natural beauty, local cuisines and coffee. The country today boasts of a bustling city life and is rapidly becoming a key manufacturing hub for many OEMs. However, another interesting aspect of the country is its fast-growing mobile ecosystem. The past few years have seen a strong increase in mobile phone penetration across Vietnam. Therefore, let us look at 7 must know facts that will give a good insight into the country's burgeoning mobile ecosystem:
- According to eMarketer, the number of Internet users in Vietnam jumped to 44 million in 2015 from 41 million in 2014. This number is expected to rise further to over 52 million by 2017.
- eMarketer also touts Vietnam as the world's third-fastest growing smartphone market, after India and Turkey. Vietnam's smartphone user base grew by 25% between 2014 and 2015 going from 16 million to more than 20 million. By 2017, this figure is estimated to touch 28 million. With only 36% of the country's mobile phone users having a smartphone, the scope for growth in smartphone adoption is tremendous.
- Growing smartphone penetration coupled with the fact that most Vietnamese consumers are preferring to access Internet via their smartphone, points to the increase in Internet traffic via mobile. A StatCounter report says that as of August 2015, Internet traffic via mobile constituted to around 35% of Vietnam's overall Internet traffic.
- 34% of the Vietnamese population accesses Internet via their mobile devices. While on their smartphones, Vietnamese users spend close to two and a half hours accessing Internet. Most of this Internet usage consists of social media, followed by watching videos and listening to music online. Facebook, YouTube, and Zalo are the three most used social networks in Vietnam.
- 58% of Vietnam's population with access to Internet shopped online in 2014, says an industry estimate. An interesting trend is that the share of people using electronic wallets for online transactions increased from 8% in 2013 to 37% in 2014, while that of people paying for online transactions with cash decreased dramatically from 41% in 2013 to 14% in 2014.
- Results from a Nielsen survey on E-commerce suggest that 58% of Vietnamese people prefer to shop via their mobile devices. This number is much higher than the global average which is pegged at 44%.
- At a massive CAGR of over 87%, mobile gaming revenues in Vietnam are estimated to reach USD 161 million by 2017, accounting for 50% of all gaming revenues in the country. 48% of Vietnam's mobile gamers spend money on mobile games. While racing as a genre is popular among both spenders and non-spenders, brain-training or educational mobile games are more popular among spenders
The above statistics show that the mobile ecosystem in Vietnam is at the cusp of a growth wave. Therefore, marketers looking to tap the Southeast Asian mobile internet user, should have Vietnam on their radar. For app publishers, especially mobile game publishers, Vietnam promises a huge untapped market potential. It will be quite interesting to see how the Vietnamese ecosystem develops in the coming days.