Key regions: Asia, United Kingdom, United States, South Korea, Germany
The TV & Video market in Vietnam has been experiencing significant growth in recent years, driven by changing customer preferences, emerging trends, and local special circumstances. Vietnamese consumers are increasingly demanding high-quality content and a wide variety of viewing options, leading to a surge in the adoption of digital platforms and smart TVs. Additionally, the growing middle class and increasing disposable income have contributed to the expansion of the market.
Customer preferences: Vietnamese consumers have shown a strong preference for digital content and on-demand viewing options. With the increasing availability of high-speed internet and affordable smartphones, more people are accessing video content online. Streaming services have gained popularity, providing consumers with a convenient and personalized viewing experience. Furthermore, Vietnamese viewers are increasingly interested in international content, including movies and TV shows from around the world. This has fueled the demand for platforms that offer a wide range of global content.
Trends in the market: One of the key trends in the TV & Video market in Vietnam is the rise of local content production. Vietnamese movies, TV shows, and web series have gained popularity both domestically and internationally. This trend has been fueled by the government's support for the local film industry and the emergence of talented Vietnamese filmmakers. As a result, local content is becoming more diverse and of higher quality, attracting a larger audience. Another trend is the increasing adoption of smart TVs. Vietnamese consumers are increasingly looking for televisions that offer internet connectivity and access to streaming platforms. Smart TVs provide a seamless viewing experience, allowing users to easily switch between traditional TV channels and online content. This trend is expected to continue as more affordable smart TVs enter the market and internet infrastructure improves.
Local special circumstances: Vietnam has a large and young population, with a high percentage of internet users. This demographic advantage has contributed to the growth of the TV & Video market. Additionally, Vietnam has a vibrant entertainment industry, with a strong tradition of storytelling and performing arts. This cultural background has fueled the demand for diverse and engaging content, both locally and internationally.
Underlying macroeconomic factors: The Vietnamese economy has been growing steadily, with rising GDP per capita and increasing disposable income. This has allowed more people to afford TVs and video streaming services. Additionally, the government has been investing in infrastructure development, including internet connectivity, which has facilitated the growth of the TV & Video market. The combination of a growing middle class, increasing internet penetration, and favorable government policies has created a conducive environment for the development of the TV & Video market in Vietnam. In conclusion, the TV & Video market in Vietnam is experiencing significant growth due to changing customer preferences, emerging trends, and local special circumstances. Vietnamese consumers are increasingly demanding digital content and on-demand viewing options, leading to the rise of streaming services and smart TVs. Local content production and the government's support for the film industry have also contributed to the market's expansion. With a large and young population, a vibrant entertainment industry, and a growing economy, Vietnam presents a promising market for TV and video companies.
Data coverage:
The data encompasses B2C enterprises. Figures are based on Traditional TV & Home Video and OTT (over-the-top) Services. All monetary figures refer to consumer spending on digital goods or subscriptions in the respective segment. This spending factors in discounts, margins, and taxes.Modeling approach / Segment size:
The segment size is determined through a bottom-up approach. We use annual financial reports of the market-leading companies and industry associations, third-party studies and reports, survey results from our primary research (e.g., Consumer Insights), as well as performance factors (e.g., user penetration, price per product, usage) to analyze the markets. To estimate the segment size for each country individually, we use relevant key market indicators and data from country-specific industry associations, such as GDP, number of internet users, and internet consumption.Forecasts:
We apply a variety of forecasting techniques, depending on the behavior of the relevant segment. For instance, the S-curve function and exponential trend smoothing are well suited for forecasting digital products and services due to the non-linear growth of technology adoption.Additional notes:
The data is modeled using current exchange rates. The market is updated twice a year in case market dynamics change. The impact of the COVID-19 pandemic is considered at a country-specific level. The data is modeled using current exchange rates. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level. The market is updated twice a year. In some cases, the data is updated on an ad hoc basis (e.g., when new, relevant data has been released or significant changes within the market have an impact on the projected development). Consumer Insights data is reweighted for representativeness.
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