1. Key Statistics
1.1 Vietnam Population
1.2 Vietnam’s Economy
1.3 Vietnam’s GDP
2. COVID-19 Impact3. Overall Telecommunications Market, 2014–2025
3.1 Market Overview
3.2 Historical Telecommunications Market Revenue, 2014-2020
3.3 Overall Telecommunications Market Forecast, 2019-2026
3.4 Telecommunications Market Capital Expenditure, 2014-2026
3.4.1 Historical Telecommunications Capex Spend, 2014-2020
3.4.2 Capex to Revenue Country Benchmark
3.4.3 Capex to GDP Benchmark
3.4.4 Telecommunications Capex Spend Forecast, 2019-2026
4. Telecommunications Operators Profile
4.1 Viettel Profile
4.1.1 Viettel Revenue and Profit Mix
4.2 VNPT Profile
4.2.1 VNPT Revenue and Profit Mix
4.1 Mobifone Profile
4.1.1 Mobifone Revenue and Profit Mix
4.2 FPT Profile
4.2.1 FPT Revenue and Profit Mix
4.3 CMC Corporation Profile
4.3.1 CMC Corp Revenue and Profit Mix
4.4 Vietnamobile
4.4.1 Vietnamobile
4.5 Other Players Profile
5. Mobile market
5.1 Mobile Subscribers Historical and Forecast, 2014-2026
5.1.1 Mobile Subscribers Historical, 2014-2020
5.1.2 Mobile Subscribers Market Share, 2014-2020
5.1.3 Vietnam Smartphone Share, 2020
5.1.4 Vietnam Mobile Subscribers Forecast, 2019-2026
5.1.5 Vietnam Mobile Subscribers by Generation (2G, 3G, 4G & 5G) Forecast, 2018-2026
5.2 Mobile Revenue Historical and Forecast, 2014-20265.2.1 Historical Vietnam Mobile Service Revenue, 2014-2020
5.2.2 Mobile Service Revenue Forecast, 2019–2026
5.2.3 Mobile Subscribers ARPU, 2014-2020
5.3 Spectrum Holdings
5.3.1 Existing Spectrum Holdings
5.3.2 5G launches and Upcoming 5G Auctions
5.3.3 Mobile Frequencies Portfolios Analysis
5.3.1 Spectrum Depth Benchmark by Country
5.4 Mobile Download Data and Pricing Trends
5.5 Mobile Speed Tests
5.5.1 Ookla Mobile Speed Tests
5.6 Internet of Things (IoT)
6. Broadband Market
6.1 Fixed Broadband Subscribers Historical, 2014-2020
6.2 Fixed Broadband Subscribers Forecast, 2019-2026
7. Fixed Telecommunications Infrastructure Investments
7.1 Fixed Digital Infrastructure
7.2 Submarine Cables
8. Vietnam Telecom Towers Infrastructure Landscape
8.1 Vietnam Mobile Digital Infrastructure
8.1.1 Vietnam Telecom Towers Market Overview
8.1.2 Vietnam Telecom Towers Background
8.2 Vietnam Tower Market Competitive Landscape Comparison
8.2.1 Vietnam Tower Market Competitive Landscape Comparison
8.3 Vietnam Telecom Towers & Rooftops Market Forecast
8.3.1 Vietnam Telecom Towers Forecast, 2020-2025
8.4 OCK Profile
8.4.1 OCK Key Performance Indicators
8.5 Golden Tower Profile
8.5.1 Golden Tower Key Performance Indicators
8.6 Nisco Profile
8.6.1 Nisco Key Performance Indicators
8.7 Telco Digital Infrastructure Comparative
9. Thematics / Opportunities
9.1 Consolidation Opportunities
9.2 Diversification Opportunities
9.2.1 e-Commerce
9.2.2 Digital Payments
9.3 New Telecoms Operating Model
9.3.1 The Attraction of Infrastructure Multiples
9.4 5G Developments
9.4.1 5G Overview
9.4.2 5G – Relative Capex Investments and Frequency Range
9.4.3 5G OpenRAN
9.4.4 Beyond 5G and Towards 6G
10. Telco M&A Transactions Database11. Methodology12. Copyright NoticeList of Figures
Figure 1 – Telco sector revenue as % of GDP in Vietnam
Figure 2 – Revenue Profile Historical Mix (VND bn), 2014 – 2020
Figure 3 – Telecommunications Market Revenue Pool, 2020
Figure 4 – Telecommunications Market Pre-Tax Profits Pool, 2020
Figure 5 – Telecommunications Revenue & EBITDA Share Estimates, 2020
Figure 6 – Total Telecoms Market Revenue and Growth Rate (VND bn), 2019-2026
Figure 7 – Capex to Revenue Benchmark, 2014-2020
Figure 8 – Capex to GDP Ratio Benchmark, 2014-2020
Figure 9 – Telecommunications Capital & Operational Expenditure Spend, 2000-2026
Figure 10 – Viettel Service Revenue Mix, 2014-2020
Figure 11 – Viettel Historical Revenue Mix, 2014 – 2020 (VND bn)
Figure 12 – VNPT Telecommunications Revenue and Profit (VND trn), 2014-2020
Figure 13 – VNPT Historical Revenue Mix (VND bn), 2014 – 2020
Figure 14 – Mobifone Revenue and Profit Margin (VND trn), 2014-2020
Figure 15 – FPT Revenue and Profit Margin (VND bn), 2014-2020
Figure 16 – CMC Revenue and Profit Margin (VND bn), 2014-2020
Figure 17 – Vietnamobile Revenue and Revenue Growth (VND bn), 2014-2020
Figure 18 – Mobile Subscribers Share Comparison, 2014-2020
Figure 19 – Mobile Subscriber Share Comparison, 2014-2020
Figure 20 – Mobile Prepaid & Postpaid Share Comparison, 2014-2020
Figure 21 – Mobile Prepaid/Postpaid Net Adds (000’s) Comparison, 2015-2020
Figure 22 – Mobile Subscribers Forecast, 2014-2026
Figure 23 – Vietnam Mobile Subscribers by Generation (2G, 3G, 4G & 5G) Forecast, 2018-2026
Figure 24 – Mobile Service Revenue Forecast, 2019-2026
Figure 25 – Mobile Subscribers ARPU (VND), 2014-2020
Figure 26 – Subscriptions per MHz of Spectrum, Select Asia-Pacific Countries, 2020
Figure 27 – Mobile Handsets Monthly Download Data, 2017-2020
Figure 28 – Data Pricing Trends in Asia-Pacific (US$ per GB per month), 2017-2020
Figure 29 – Spectrum available for IoT in Vietnam
Figure 30 – Broadband Subscribers Share Comparison, 2014-2020
Figure 31 – Vietnam Net-Adds (000’s) by Operators, 2015-2020
Figure 32 – Vietnam Broadband Services by Access Technology
Figure 33 – Broadband Subscribers Forecast, 2019-2026
Figure 34 – Estimated Tower Market Share, 2020
Figure 35 – Vietnam Telecom Towers Forecast, 2020-2025
Figure 36 – Telecoms Providers EV/EBITDA Ranges
Figure 37 – 5G Network Slices Structure
Figure 38 – Effect of Frequency on Range
Figure 39 – 5G Capacity and Coverage Layers
Figure 40 – Relative Capex Required for 5G Network Infrastructure Investment
Figure 41 – Telecom Infra Project – OpenRAN Vision
List of Tables
Table 1 – Vietnam – Key Statistics
Table 2 – Telecommunications Market Revenue by Operators
Table 3 – Total Telecommunications Market Revenue, 2019-2026
Table 4 – Historical Telecommunications Capex Spend, 2014-2020
Table 5 – Historical Viettel Revenue, Pre-Tax Profit & Capex, 2014-2020
Table 6 – Historical VNPT Revenue and EBITDA Mix, 2014-2020
Table 7 – Historical Mobifone Revenue and Profit Mix, 2014-2020
Table 8 – Historical FPT Revenue, Pre-Tax Profit & Capex, 2014-2020
Table 9 – Historical CMC Corp Revenue, Pre-Tax-Profit, 2014-2020
Table 10 – Historical Vietnamobile Revenue, 2014-2019
Table 11 – Historical Mobile Subscribers, 2014-2020
Table 12 – Vietnam Mobile Subscribers Forecast, 2019-2026
Table 13 – Vietnam Mobile Subscribers by Generation (2G, 3G, 4G & 5G) Forecast, 2019-2026
Table 14 – Historical Mobile Service Revenue, 2014-2020
Table 15 – Historical Mobile Market Blended Mobile ARPU, 2014-2020
Table 16 – Mobile Frequencies by Operators and by Band (Mhz)
Table 17 – Historical Broadband Subscribers, 2014-2020
Table 18 – Historical Broadband Monthly ARPU, 2014-2020
Table 19 – Vietnam Broadband Subscribers Forecast, 2019-2026
Table 20 – International Submarine Cable Systems with Landing Stations in Vietnam
Table 21 – Vietnam Telecom Towers Market Analysis, 2020
Table 22 – Vietnam Tenant Indicative Tower Leasing Annual Fees
Table 23 – Vietnam Tower Market Competitive Landscape Comparison
Table 24 – Vietnam Telecom Towers, Mobile Subscribers, Penetration & ARPU Forecast, 2020-2025
Table 25 – OCK Key Performance Indicators, 2020
Table 26 – Golden Tower Key Performance Indicators, 2020
Table 27 – Nisco Key Performance Indicators, 2020
Table 28 – Viettel, VNPT, Mobifone, FPT, CMC Telco Digital Infrastructure Landscape
Table 29 – Technology Specifications (ADSL, FTTN, Fibre, 4G/LTE, 4G/LTE-A and 5G)
Table 30 – Telco Transaction Database, 2015-2020