Market Overview
Market Size
The Vietnam television market size reached around USD 801.85 million in 2024. The market is projected to grow at a CAGR of 5.80% between 2025 and 2034, reaching almost USD 1409.13 million by 2034. The growth is driven by increasing consumer demand for smart TVs, improved internet penetration, and the rise of digital entertainment platforms. Technological advancements such as AI integration, OLED displays, and voice-controlled smart TVs are further accelerating the adoption of advanced television models in the Vietnamese market. Increasing urbanization and a growing middle-class population are also contributing to the market’s expansion.
Market Trends
Vietnam’s television market is witnessing a significant shift toward smart TVs as consumers demand more connected and interactive entertainment options. The increasing adoption of 4K and 8K televisions is enhancing the viewing experience, driving the replacement of older TV models. Streaming services and gaming platforms are fueling demand for high-performance displays with better refresh rates and color accuracy. Brands are focusing on affordability while integrating advanced features like AI-powered voice assistants, IoT compatibility, and enhanced display technologies. The preference for larger screen sizes is also growing, with consumers favoring 55-inch and above TV models.
Market Growth
The Vietnam television market is set to expand steadily due to rising disposable incomes and increasing consumer inclination toward premium home entertainment systems. The proliferation of e-commerce platforms has made televisions more accessible, with online sales showing rapid growth. Moreover, government initiatives promoting digital transformation and technological advancements are encouraging manufacturers to introduce energy-efficient and high-tech television models. The rise of domestic manufacturers and local production facilities is also expected to contribute to the market’s sustained growth. Partnerships between global TV manufacturers and Vietnamese retailers are improving market penetration and distribution networks.
Market Segmentation
By Type
Smart TVs
Smart TVs are leading the Vietnam television market, driven by growing demand for internet-connected entertainment solutions. Features such as built-in streaming apps, voice assistants, and AI-powered recommendations make them the preferred choice for modern consumers. The expansion of high-speed internet infrastructure is further boosting adoption rates.
LCD, Plasma, and LED TVs
LCD, Plasma, and LED TVs remain popular due to their affordability and widespread availability. LED TVs dominate this segment, offering superior picture quality and energy efficiency. Plasma TVs, however, are witnessing a decline in demand due to advancements in OLED and QLED technologies.
Cathode-Ray Tube (CRT) and Rear-Projection TVs
CRT and rear-projection TVs have become obsolete, with minimal market demand. The transition to digital and smart television technology has significantly reduced their relevance, and they are mostly found in low-income households or secondary markets.
By Distribution Channel
Offline
Offline sales channels, including electronic retail stores, supermarkets, and brand-exclusive outlets, continue to dominate the market. Consumers prefer in-person purchases for high-value electronics, allowing them to assess the display quality and features before buying.
Online
The online distribution channel is growing rapidly due to the convenience of home delivery and competitive pricing. Major e-commerce platforms like Shopee, Lazada, and Tiki are expanding their electronics sections, offering discounts, easy returns, and flexible payment options to attract consumers.
Market Dynamics and Analysis
SWOT Analysis
Strengths
- Rising adoption of smart and connected TVs
- Technological advancements in display and audio quality
- Expanding internet and broadband penetration
Weaknesses
- High competition from smartphones and tablets as alternative entertainment devices
- Price sensitivity among consumers in lower-income segments
- Limited local manufacturing capacity for high-end TVs
Opportunities
- Growing demand for premium OLED and 8K TVs
- Expansion of digital streaming services boosting smart TV sales
- Government support for technological advancements in the consumer electronics sector
Threats
- Economic instability affecting consumer purchasing power
- High import duties on foreign TV brands
- Growing preference for mobile-based entertainment
Porter’s Five Forces Analysis
Competitive Rivalry
The market is highly competitive, with global and regional brands competing for market share through product differentiation and pricing strategies.
Threat of New Entrants
The high capital investment required for manufacturing and branding creates significant barriers to entry, limiting new players in the market.
Bargaining Power of Suppliers
Manufacturers rely on global suppliers for key components like display panels and processors, making them vulnerable to supply chain disruptions and price fluctuations.
Bargaining Power of Buyers
Consumers have high bargaining power due to the availability of multiple brands and pricing options. Online reviews and price comparisons influence purchasing decisions.
Threat of Substitutes
The increasing use of smartphones, tablets, and laptops for entertainment poses a potential threat to television sales. Streaming services and gaming platforms are diversifying viewing options beyond traditional television.
Key Indicators for Demand
- Rising disposable incomes and growing middle-class population
- Increasing demand for smart home integration and connected devices
- Expansion of digital streaming platforms and gaming ecosystems
Key Indicators for Price
- Fluctuations in raw material costs, especially semiconductor and display panel prices
- Import tariffs and government regulations affecting pricing
- Competition among major brands leading to aggressive pricing strategies
Competitive Landscape
- Samsung Electronics Co., Ltd.
- LG Corp.
- Panasonic Holdings Corp.
- Sony Group Corp.
- Toshiba Corporation
- Hisense International Co., Ltd.
- Xiaomi Corp.
- Hon. Hai Precision Industry Co., Ltd. (Sharp Corp.)
- Others
Future Outlook and Forecast (2025-2034)
The Vietnam television market is poised for significant expansion over the next decade, driven by increasing consumer preference for smart and high-resolution TVs. The demand for OLED, 8K, and AI-powered televisions is expected to rise as technology advances. Growing e-commerce sales and digital payment adoption will further boost online distribution channels. Partnerships between international brands and local retailers will enhance accessibility and affordability for consumers. Sustainable and energy-efficient TV models will gain popularity, aligning with global environmental concerns. With continuous technological innovation and expanding internet connectivity, Vietnam’s television market is set to experience steady growth through 2034.
