e-Conomy SEA 2025 report: Vietnam leading SEA in consumer AI adoption and trust metrics

According to the latest annual 10th edition e-Conomy SEA 2025 report by Google, Temasek, and Bain & Company, Vietnam's digital economy is set to reach $39 billion in Gross Merchandise Value (GMV) in 2025, representing a 17% YoY growth rate, making Vietnam the second fastest growing digital economy across SEA.

Double digit growth trend across key sectors 

All key digital economy sectors are sustaining double-digit growth, and the E-commerce sector remains the largest contributor to Vietnam's GMV, accounting for two thirds of the overall digital economy, projecting more than 17% growth to $25 billion.

The momentum extends beyond e-commerce, with Transport and Food continuing as Vietnam’s fastest-growing GMV sector, projected to achieve 20% growth to reach $5 billion in 2025. Vietnam is experiencing the rapid electric vehicle (EV) adoption, propelled by government incentives and demand from transport platforms.

Online media is seeing a significant acceleration from previous years, projecting more than 16% growth to $6 billion. This sector comprises Advertising, Gaming, Video-on-demand, and Music-on-demand. A significant driver is gaming, with Vietnam being a key source of strength, boasting three developers among the global top 15 by downloads.

Online travel is projected to achieve 16% growth, reaching $4 billion in GMV. Vietnam’s tourism sector has become a key pillar of the national economy, with robust YoY growth continuing from 2024 into 2025. Boosted by favourable visa policies and strategic international promotion, this strong performance reflects both recovering international arrivals, particularly from Asian and European markets, and a resilient domestic travel segment. 

Vietnam leads Southeast Asia in consumer AI adoption, trust, and upskilling metrics

Vietnam has secured the leading position in SEA for AI user readiness and trust. This is established by three metrics where Vietnam ranked highest in the region: 81% of users engage with AI tools and features daily, 83% are participating in AI learning and upskilling, and critically, 96% express a willingness to share data with AI agents.

This collective user engagement is reflected commercially by an increase of 78% revenue growth in apps featuring AI over the one-year period concluding in the first half of 2025. User motivations for adopting AI are primarily centered on saving time on research and comparisons (44%), leveraging 24/7 customer support (35%), and obtaining savings through better deals (30%).

In terms of capital, Vietnam currently has over 40 active AI startups and the market recorded $123 million in private funding for AI over the past year. This volume represents a 5% share of total region AI investments during that period. 79% of investors expect funding to increase in Vietnam, with an emphasis on software and services, as well as AI and deep tech.

“Vietnam's digital economy is demonstrating robust resilience, fueled by users' effective access to and adoption of AI in both life and work,” said Marc Woo, Managing Director, Google Vietnam. “With 81% of users interacting with AI tools daily, it underscores a highly dynamic and adaptive digital landscape in Vietnam that is keeping pace with modern trends. Driven by the digital economy's positive growth and the region's highest AI adoption rate, Vietnam has established itself as one of the most pivotal markets in Southeast Asia's digital evolution, contributing to enhanced productivity and value creation across various sectors.”

Digital finance and video commerce: new frontiers driving inclusive growth

The Digital Financial Services (DFS) sector in Vietnam is a key area of expansion, driven by the government's strategic push for cashless payments. The Gross Transaction Value (GTV) of Digital Payments is projected to reach $178 billion in 2025, underscoring widespread digital adoption. 

Within DFS, digital lending is experiencing significant momentum, ranking as the second fastest-growing financial vertical in the region with a strong 22% growth rate over the last year.

The widespread adoption of digital finance is supported by government policy and infrastructure. Vietnam has rolled out electronic IDs for all residents, streamlining access to online public services. Active e-wallet accounts have grown to 30 million, fueling a surge in non-cash and VietQR payments toward the 80% cashless transaction target in e-commerce by 2030. Furthermore, QR payments are now fully interoperable with Thailand and Cambodia, creating new potential for cross-border economic flows and tourism.

Vietnam's video commerce segment stands out as a key driver of digital growth and is confirmed as the second largest and second fastest-growing market in SEA. The sector recorded a significant 60% YoY growth for number of sellers and transaction volume, demonstrating strong consumer acceptance of content-driven shopping models. This expansion has generated a massive scale, resulting in 1.3 billion transactions over the period with 650,000 sellers. This robust momentum positions video commerce as a critical new frontier for the digital economy, enabling inclusive growth and new business models across the nation.

“Southeast Asia’s digital economy has shown extraordinary growth and remarkable resilience, sustaining momentum despite periods of investor caution and a shifting macroeconomic landscape over the last decade. Within it, Vietnam stands out as one of the region’s most dynamic markets, leading Southeast Asia in AI adoption and consumer trust while sustaining growth across e-commerce, digital financial services, and video commerce, which grew 60% year-on-year. With a digital economy on track to reach $39 billion by 2025, Vietnam is showing how trust and technology can combine to drive inclusive growth at scale. The real opportunity now lies in how businesses harness AI as a catalyst for impact while balancing Vietnam’s structural realities,” said Erik Pot, Partner, Bain & Company.