Productivity - Vietnam

Vietnam

The Productivity market in Vietnam is expected to generate a total revenue of US$14.22m in 2022.
This projection indicates a promising growth potential for the market.
Furthermore, the market is anticipated to exhibit a steady annual growth rate of 9.53%, leading to a projected market volume of US$20.55m by 2027.
Within the Productivity market, revenue from in-app purchases (IAP) is projected to reach US$11.33m in 2022.
This highlights the increasing popularity of in-app purchases among users in Vietnam.
Additionally, revenue from paid apps is expected to reach US$1.30m in 2022, showcasing a demand for productivity-related paid applications.
Advertising revenue within the Productivity market is also projected to reach US$1.59m in 2022, indicating the potential for advertising platforms targeting productivity apps to thrive.
In terms of downloads, the Productivity market in Vietnam is projected to reach 94.26m downloads in 2022.
This impressive number reflects the popularity and widespread usage of productivity apps among Vietnamese users.
Currently, the average revenue per download stands at US$0.15, indicating the revenue generated per individual download.
When comparing the global market, it is noteworthy that in China leads in terms of revenue generation within the Productivity market, with an estimated revenue of US$2,263.00m in 2022.
This indicates the significant market dominance of in China in this particular market segment.
Overall, the Productivity market in Vietnam shows promising growth potential, with increasing revenue projections and a substantial number of downloads.
This presents opportunities for businesses and developers in the country to capitalize on the growing demand for productivity-related apps.

Key regions: India, United States, Japan, Asia, Germany

Market

Region

Region comparison

Currency

Analyst Opinion

Since the start of Apple, Inc.'s App Store in 2008 with around 500 apps, mobile apps have come to dominate the digital economy and have quickly outpaced the demand for desktop applications. As of 2021, the Apple App Store and Google Play Store had more than 5 million apps combined. Because many apps from the West are not available in China, many new app stores have emerged there. Digital lifestyles around the world now depend on adopting mobile apps, especially when it comes to social networking. The games industry has also been thoroughly transformed by the app revolution and is demonstrated by the fact that the games category is the largest and highest-grossing app category.

Methodology

Data coverage:

The data encompasses B2C enterprises. Figures are based on revenue from in-app purchases, revenue from the purchase of apps, and revenue from advertising, as well as the number of downloads for each app category.

Modeling approach:

Market sizes are determined through a bottom-up approach, building on a specific rationale for each market segment. As a basis for evaluating markets, we use market data from independent databases and third-party sources, current trends, and reported performance indicators of top market players. In addition, we use relevant key market indicators and data from country-specific associations, such as smartphone users and mobile broadband connections. 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. The main drivers are GDP/capita, level of digitization, and consumer attitudes toward apps.

Additional notes:

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 case market dynamics change.