The report said that by the end of second quarter this year, Vietnam 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 percent of the total in the country while those using iOS make up 41.6 percent.
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 Vietnam potential in the digital sector regionally, the report said.
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 Vietnam a big player in the apps/games market on both iOS and Android devices.
Vietnam’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, Vietnam 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. Vietnam 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 Vietnam is growing rapidly, and will soon cover up to 70 percent 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 Vietnam. In 2018, digital advertising was worth USD 663 million, with mobile advertising accounting for more than 62 percent. Digital advertising is expected to continue to grow and reach more than USD 1 billion in 2020.
In the upcoming years, social networks are set to dominate the digital advertising market in Vietnam with 45 million users on different platforms such as Facebook, Zalo and Instagram.
Source: VNA