Key regions: United States, China, Japan, United Kingdom, Germany
The Media market in Vietnam has been experiencing significant growth in recent years, driven by changing customer preferences and favorable local special circumstances. Customer preferences in Vietnam have shifted towards digital media consumption, with an increasing number of people accessing news, entertainment, and other content through online platforms.
This trend can be attributed to the growing internet penetration in the country, as well as the rising popularity of smartphones and other mobile devices. Additionally, the younger population in Vietnam, who are more tech-savvy, are driving the demand for digital media. In line with these changing preferences, there has been a surge in the number of digital media platforms and streaming services in Vietnam.
Local and international companies are investing in the development of online content and streaming platforms to cater to the growing demand. This has led to increased competition in the market, as companies strive to offer unique and engaging content to attract and retain customers. Another trend in the media market in Vietnam is the rise of social media as a popular platform for news consumption and content sharing.
Platforms like Facebook, Instagram, and YouTube have gained significant traction in the country, with many Vietnamese users relying on these platforms for news updates and entertainment. This trend has opened up new opportunities for advertisers and content creators to reach a wider audience through social media marketing and influencer partnerships. Local special circumstances in Vietnam, such as a young and tech-savvy population, a growing middle class, and increasing disposable income, have also contributed to the development of the media market.
As more people gain access to the internet and become digitally connected, the demand for online content and digital media services continues to grow. Additionally, the government's efforts to improve internet infrastructure and promote digital literacy have further fueled the growth of the media market in Vietnam. Underlying macroeconomic factors, such as a stable economy and favorable investment climate, have also played a role in the development of the media market in Vietnam.
The country's strong economic growth and increasing foreign direct investment have attracted both local and international companies to invest in the media sector. This has led to the expansion of media companies, the introduction of new technologies, and the creation of innovative content, all of which have contributed to the growth of the market. In conclusion, the media market in Vietnam is experiencing significant growth due to changing customer preferences, the rise of digital media consumption, and favorable local special circumstances.
As the country continues to develop its internet infrastructure and digital ecosystem, the media market is expected to further expand in the coming years.
Data coverage:
The data encompasses B2C enterprises. Figures are based on media spending (on traditional media as well as digital media). 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 / Market size:
Market sizes are determined through a bottom-up approach, building on specific predefined factors for each market segment. As a basis for evaluating markets, 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). In addition, we use relevant key market indicators and data from country-specific associations, such as GDP, number of internet users, and internet consumption. This data helps us estimate the market size for each country individually.Forecasts:
In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, 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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