Vietnam's app economy is rapidly growing. According to the Ministry of Information and Communications, in the past six months, Vietnam has maintained its 11th global ranking in mobile app downloads and 31st in global app revenue.

Although downloads of free apps have decreased, paid app downloads in Vietnam have seen an 11% increase compared to the same period last year.

Vietnam currently boasts seven apps with over 10 million active users, ten apps with 5-10 million users, and 43 apps with 1-5 million users.

According to Data.ai, while Vietnam is not a top revenue earner, it ranks 6th globally in app usage growth. In 2023, Vietnamese users spent 11.8 billion more hours on apps compared to 2022, marking a 12.8% increase, specifically for Android phones.

In a recent discussion with VietNamNet, a representative from Yandex highlighted Southeast Asia as a promising market for app development and revenue generation. With a high smartphone usage rate, app developers have numerous opportunities to grow in this region. Vietnam, in particular, is a fertile ground for app businesses due to its high download rates and large mobile user base.

Nana Phan, Head of Strategic Relations for Yandex Ads in Southeast Asia, noted that mobile app business in Vietnam is thriving. Advertising revenue within apps is expected to account for over half of the developers' income.

Nana Phan expressed confidence in Vietnam's leadership in mobile advertising in Asia, indicating that market trends in Vietnam align well with global trends.

Vietnamese developers are not only successful domestically but also capable of attracting international users. Vietnamese app publishers have found success in global markets, particularly in game publishing, with companies like Falcon Studio, Wolffun, Amanote, Funtap, and iKame leading the charge.

Leveraging its experience in online advertising markets in Russia and Eastern Europe, the Yandex representative believes that Vietnamese developers can successfully target Russian-speaking users. Vietnamese apps, particularly in gaming, photo editing, and travel and entertainment utilities, are well-received in Russia.

One notable success is IndieZ’s "Traffic Jam 3D," which has established a strong presence in Russia and the Commonwealth of Independent States (CIS).

For Vietnamese developers looking to go global, the Yandex representative advises partnering with online advertising networks that understand revenue enhancement mechanisms, user needs, and local legal frameworks.

Trong Dat