Vietnam Courier, Express, & Parcel (CEP) Market Size & Share Analysis – Industry Research Report – Growth Trends
This section covers the major market trends shaping the Vietnam Courier, Express, & Parcel (CEP) Market according to our research experts:
According to the Vietnam E-commerce Association, e-commerce revenue in Vietnam was estimated to increase by about 15% to USD 13.2 billion in 2022. With the rapid change in online shopping habits in Vietnam, its e-commerce and trade promotion activities in the online environment continue to grow rapidly and sustainably. However, many businesses with high-quality goods and products are still unfamiliar with information technology and e-commerce and are hesitant to choose trade promotions on online platforms. To achieve the goal of national digital transformation, all enterprises must use information technology and e-commerce in their business activities.
The Vietnamese government views digital transformation in Vietnam as critical to maintaining growth and prosperity. Vietnam is said to be one of the fastest-growing digital economies in Southeast Asia, with a projected 28% increase in Gross Merchandise Volume (GMV) in 2022. Vietnam’s digital sector is expected to contribute 30% of the country’s GDP by 2030. The European Union has significantly impacted the digital economy’s development through the EU-Vietnam Free Trade Agreement (EVFTA). The agreement establishes cross-sectoral initiatives such as increased investment, updating EU regulations, and the adoption of non-legislative measures to improve quality of life, among other things.
By encouraging the development of electronic commerce between the EU and Vietnam and by improving Vietnam’s regulatory environment for digital transformation, the EVFTA will help boost Vietnam’s digital economy and development, which can be achieved through the consistent and fruitful discussion of the regulatory issues raised by e-commerce and digitalization. Vietnam’s e-commerce regulations, laws, and frameworks will gradually improve, advancing and enabling the country’s digital transformation. Due to the EVFTA opportunities, Vietnamese businesses will undergo digital transformation to meet European market standards. Vietnamese manufacturers must invest in better technology to control product quality.
E-commerce is one of the fastest-growing sectors of the Vietnamese digital economy. According to the Vietnam E-commerce and Information Technology Agency, the country’s e-commerce market is growing at a 35% annual rate, which is 2.5 times faster than Japan. The expansion of e-commerce in Vietnam is expected to generate USD 16.4 billion in revenue, a record for this industry. More foreign direct investments were expected in Vietnam’s e-commerce market in 2022. Businesses from China, Japan, South Korea, and the United States have begun to expand their online presence on regional e-commerce platforms. Five of Southeast Asia’s most popular e-commerce platforms are Lazada, Shopee, Tiki, Sendo, and The Gioi Di Dong, and Vietnam is one of their strongest markets.
