Vietnam Smart Grid Market Overview
Base Year: 2024
Historical Years: 2019-2024
Forecast Years: 2025-2033
Market Growth Rate (2025-33): 10.6%
Vietnam smart grid market size is projected to exhibit a growth rate (CAGR) of 10.6% during 2025-2033 .The launch of favorable policies by government bodies to promote the usage of renewable energy sources represents one of the key factor driving the market.
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Vietnam Smart Grid Market Trends and Drivers:
Vietnam is undergoing a transformative shift in how it manages and distributes electricity, driven by rising power demand and the fast growth of renewable energy. At the heart of this evolution is the widespread rollout of Advanced Metering Infrastructure (AMI), with power utility EVN aiming to install over 2.5 million smart meters in just two years. These meters not only allow consumers to track their real-time electricity usage but also enable utilities to test dynamic pricing models. Alongside this, Distribution Automation (DA) systems—such as smart reclosers and FLISR technologies—are being deployed rapidly, especially in high-density regions like Ho Chi Minh City and Binh Duong. These systems help detect faults, isolate issues, and restore power faster, minimizing blackouts. Meanwhile, the use of IoT sensors across the grid gives operators a clearer picture of equipment health, helping prevent failures before they occur.
What’s fueling this rapid development is a strong regulatory push, especially under Vietnam’s Power Development Plan VIII (PDP8), which aims to modernize the grid in preparation for a renewable energy share of more than 30% by 2030. This commitment has opened the door to large-scale investments by EVN and regional utilities, with billions of dollars being channeled into digital grid technologies. Substation automation is advancing quickly, with digital substations built on IEC 61850 standards becoming the new norm. At the same time, key systems like Distribution Management Systems (DMS) and Outage Management Systems (OMS) are being deployed nationwide, helping utilities reduce downtime and respond more efficiently to customer needs. The strong business case for smart grids—particularly in reducing technical and commercial losses—combined with international support from groups like the World Bank and JICA, is accelerating Vietnam’s transition to a smarter, more efficient electricity network.
Looking ahead, two powerful forces will continue to shape Vietnam’s smart grid journey: electrification and energy decentralization. With electric vehicle (EV) adoption rising fast, the country will need to develop a network of smart charging stations that are tightly integrated with the power grid. These systems could even support advanced features like vehicle-to-grid energy flow. At the same time, the growth of distributed energy resources (DERs)—like rooftop solar, small wind projects, and home battery systems—is turning consumers into active energy producers. Managing this shift will require advanced DER Management Systems and smarter distribution networks. Meanwhile, industrial parks and data centers are demanding ultra-reliable, sustainable power, creating new opportunities for microgrids and intelligent energy solutions. As Vietnam looks to allow more retail competition and introduce new electricity pricing models, smart grid technologies will be essential for giving consumers greater control and enabling a more flexible, resilient energy future.
Vietnam Smart Grid Market Industry Segmentation:
Component Insights:
- Software
- Advanced Metering Infrastructure
- Smart Grid Distribution Management
- Smart Grid Network Management
- Substation Automation
- Others
- Hardware
- Sensor
- Programmable Logic Controller
- AMI Meter
- Networking Hardware
- Others
- Services
- Consulting
- Support and Maintenance
- Deployment and Integration
End User Insights:
- Residential
- Commercial
- Industrial
Regional Insights:
- Northern Vietnam
- Central Vietnam
- Southern Vietnam
Competitive Landscape:
The competitive landscape of the industry has also been examined along with the profiles of the key players.
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Key highlights of the Report:
- Market Performance (2019-2024)
- Market Outlook (2025-2033)
- COVID-19 Impact on the Market
- Porter’s Five Forces Analysis
- Strategic Recommendations
- Historical, Current and Future Market Trends
- Market Drivers and Success Factors
- SWOT Analysis
- Structure of the Market
- Value Chain Analysis
- Comprehensive Mapping of the Competitive Landscape
Note: If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
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