Vietnam to grow US$3 billion IoT in manufacturing market

This is on account of rising demand for industrial internet of things (IIoT), increasing adoption of smart sensors and beacons, growing adoption of IoT in supply chain, favourable government initiatives and rise in the demand for analytics.

The market of IoT in manufacturing in the country is gaining traction and is expanding to various regions such as Northern Vietnam, Southern Vietnam and Central Vietnam. Southern Vietnam is expected to witness growth during forecast period owing to rising penetration of the technology in this region.

For instance, in May 2019, Samsung SDS announced an investment partnership agreement with CMC Corporation for smart factory and cyber security sectors in Vietnam. Under the agreement, Samsung SDS will utilise CMC's strong sales channel to target market for their latest technologies, such as artificial intelligence, big data analytics, Internet of Things (IoT), etc. The partnership will help CMC to strengthen its position and expand its business in Vietnam.