Vietnam mobile services revenue to grow 3.4% annually through 2031

Details: Manny Pham; Category: Operators; 05 November 2026; 305 views

Vietnam's mobile services revenue is forecast to grow by an average of 3.4% a year between 2026 and 2031, as rising data consumption and 5G adoption offset declining income from voice services, according to GlobalData.

The research firm expects mobile data revenue to increase at a compound annual growth rate of 8.3% over the period, driven by continued 4G use, expanding 5G coverage and demand for video streaming, social media and other data-intensive services.

Average monthly mobile data consumption is forecast to rise from 5.5GB per subscription in 2026 to 14.9GB by 2031. GlobalData analyst Neha Mishra said growing use of online video and social media, alongside operators' data-focused plans, would drive demand.

Voice revenue, meanwhile, is expected to decline as operators increasingly bundle free minutes into tariffs and customers turn to over-the-top platforms for voice calls.

5G share to increase

4G will remain Vietnam's dominant mobile technology by subscriptions through 2031, supported by continued LTE network expansion. However, 5G is expected to account for 30.6% of mobile subscriptions by then, up from 4.8% in 2026.

The transition will be supported by operator investment and government plans to extend 5G coverage to 99% of the population by 2030. Coverage stood at around 90% in February 2026, according to GlobalData.

Vietnam's planned shutdown of 2G and 3G networks by 2028 will also free up spectrum in the 900MHz and 1800MHz bands for 4G and 5G services.

Viettel is expected to retain its position as Vietnam's largest mobile operator by subscribers throughout the forecast period, supported by its extensive LTE footprint and investment in newer networks.

The operator deployed 20,000 5G base stations in 2025, accounting for more than 80% of the country's total installations and taking its network to around 30,000 sites by the end of the year. Viettel plans to deploy a further 20,000 base stations by the end of 2026.

GlobalData said operators would need to expand coverage and capacity while offering more data-focused plans to capture rising consumption and offset falling voice revenue. The growing availability of 5G devices and digital entertainment services is also expected to encourage customers to move to higher-value data packages.