2023 Key trends of Vietnam’s electronic equipment industry

Vietnam’s electronic equipment industry is one of the fastest-growing industries in Vietnam in 2022, as the country has actively participates in electronic export activities. Its success and growth can be witnessed from its gradually hopped global ranking from 47th place in 2001 to 12th place in 2019. If you’re in this industry or in Vietnam, you wouldn’t want to miss this chance to capture profits from the amazing performance of the electronic equipment industry in Vietnam. If you’re wondering what are the key trends of electronic equipment industry in Vietnam in 2023 that you can leverage on, keep reading!

What are the key trends of electronic equipment industry in Vietnam?

Electronic industry exports in Vietnam covered 36% of the total exports from Vietnam. In 2020, electrical machinery and equipment had an export value of US$119.22B.

Smartphone

The smartphone is one of the key trends of electronic equipment industry in Vietnam, and it is one of the top export of Vietnam, with an export value of US$57.5 billion in 2021. When it comes to smartphone manufacturing, undeniably, Samsung is the best example to demonstrate the trend of smartphone production in Vietnam, where Samsung produce 60% of its smartphone here.

Due to that, it makes up more than 25% of Vietnam’s exports, leading Vietnam to become the second-largest smartphone exporter in the world. Besides, Chinese handset maker, Xiaomi also make the brilliant choice to have Vietnam as a new hub for exporting to neighbour Southeast Asia countries. The decision was made after quite a consideration, which aims to improve both the cost and delivery efficiency of smartphones, and Vietnam was selected. The rationale behind this is that Vietnam is near the potential market demand, such as Malaysia and Indonesia, and has a relatively lower labour cost, making Vietnam look more appealing.

Computer, Laptop and Peripheral

Computer and laptop also considered as one of the key trends of electronic equipment industry in Vietnam. In 2020, computers made an export value of up to US$5.65B, which led to Vietnam being successfully listed in the top 10 exporters of computers in the world, with the ranking of 8th place. Meanwhile, computers were ranked 9th in Vietnam’s listing of export products.

Furthermore, the main destination for the exportation of computers reached the United States, South Korea, Germany and the United Kingdom, where the computer markets are also popular. In addition, laptop and computer production in Vietnam was further supported by Apple supplier Foxconn, by successfully granted a license to build a plant in Vietnam to manufacture MacBooks and iPad. This makes the electronic equipment industry in Vietnam more competitive, portraying Vietnam as an excellent place to start an electronic equipment business.

Conclusion

Vietnam seems an attractive place to start and expand varieties of electronic equipment businesses. If you want to capture the key trends of electronic equipment industry in Vietnam accurately, data-driven business analysis and strategy planning should be done.

A reliable source of import-export data is crucial to you get the correct market information. With trade data platforms such as TradeData.Pro, you will not only be able to access reliable data, but you can even find your potential customers and competitors in electronic equipments industry too. This allows your business to leverage the key trends more precisely and has a higher chance of success in emerging market like Vietnam.

Having a rough idea of export and import figures is far insufficient to guarantee your business’ long-term survival; instead, more detailed analysis should be incorporated. If you’re not aware of the market trends and insights, your business might face challenges when entering or expanding in Vietnam. Many businesses that do not strategise using reliable data fail to capture key trends, and eventually affect the business operation. TradeData.Pro can solve your worries.

Finding these critical data has traditionally been challenging, but you can get these data easily by subscribing to TradeData.Pro. TradeData.Pro was awarded Singapore Quality Class in 2020 and Stevie Award Gold in 2021, which implicitly shows that the data sources are reliable!

Being sustainable in the business needs strategic planning and wise decisions. To do that, businesses need the information and data to reveal trends, identify market opportunities, track competitors, buyers and suppliers, and better understand supply chain potential. All this information is just one click away on TradeData.Pro.

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