More than 51 million Vietnamese access the internet, social media and apps through their smartphones daily, according to a recently released report by Appota Corporation.
The report said that by the end of second quarter this year, Việt Nam reached a population of 97 million people. People’s lives are quickly becoming digitalized thanks to the rise of smartphones, highly accessible internet and cheap mobile data plans.
Smartphones using Androids system account for 55.1 per cent of the total in the country while those using iOS make up 41.6 per cent.
The growth in quantity and quality of 4G services and hopes for a strong 5G network has created a firm foundation for the digital content sector, giving Việt Nam huge potential in the digital sector regionally, the report said.
In 2018, Việt Nam experienced its highest GDP growth rate in the last decade, healthy sales of goods and services growth and single digit inflation. Stability in both economic and political sectors gives brands confidence in the market, while low-cost and high-speed internet encourages consumers to spend time watching online content.
In addition to online videos and music, Vietnamese people also rely on fast internet connections to try mobile apps and games, making Việt Nam a big player in the apps/games market on both iOS and Android devices.
Việt Nam’s top apps and games by monthly active users are mainly social networking apps and online games.
Due to the willingness of Vietnamese people to try out new apps and games, Việt Nam is a rapid growing app market with exceptionally low Cost Per Installs (CPI).
Among mobile in-game ads, video ads with rewards are the most ‘likeable’ forms of ads by Vietnamese consumers. Việt Nam is a country with the most patience to see the world’s longest ads with 19 seconds, while the average time of other countries only reaches 8-9 seconds. This is a great opportunity for advertisers to take advantage of.
Appota said the mobile ads market in Việt Nam is growing rapidly, and will soon cover up to 70 per cent of the total digital ads market.
The strong growth of mobile devices has created a solid foundation for the advertising market on mobile platforms in Việt Nam. In 2018, digital advertising was worth US$663 million, with mobile advertising accounting for more than 62 per cent. Digital advertising is expected to continue to grow and reach more than $1 billion in 2020.
In the upcoming years, social networks are set to dominate the digital advertising market in Việt Nam with 45 million users on different platforms such as Facebook, Zalo and Instagram.