Increasing adoption of digitalization and the infrastructural developments across the country are influencing the Vietnam PropTech Market through 2027F.
According to TechSci Research report, “Vietnam PropTech Market –By Region, Competition Forecast and Opportunities, 2017-2027” the Vietnam PropTech Market was valued at USD 446.08 million in 2021 and is predicted to experience robust growth in the forecast period with a CAGR of 16.47% due to the high adoption rate of digitalization across the rising urban population. The growing Internet penetration and high demand for IoT Security and data privacy related to the next generation property management are anticipated to drive the growth of the Vietnam PropTech Market in the forecast period 2022E-2027F.
The shift in the adoption of digitalization across the country, along with the growth in the urban population, is significantly driving the demand for PropTech technology in Vietnam. The development of the economic conditions along with the rising middle-class families is expanding the expenditure capacity of the consumers for investing in real estate management. Top players are implementing technological advancements to provide precise pricing related to market pricing by assembling a considerable volume of data from offline and online property management sources.
The absence of licensing for real estate agents can result in illegal activities in property management. PropTech companies offer incentives to the higher grading real estate agents based on customer ratings and feedback to deal with the issue. PropTech players are providing several purchases to the customers at a lower initial capital expenditure to increase the potential customers’ affordability and the properties’ sales. Additionally, companies are offering financial assistance to customers through credits, which is expected to quicken the Vietnam PropTech market growth in the forecast period.
Furthermore, numerous initiatives and IT spending are happening to create new infrastructure for the subsequent generation of property management in order to develop a secure network in real estate. This assistance is expected to be critical in the growth of the PropTech in the upcoming years.
Browse over 35 market data Figures spread through 70 Pages and an in-depth TOC on “Vietnam PropTech Market”
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The Vietnam PropTech Market is segmented based on Solutions, Applications, Commercial Applications, Residential Applications, Deployment, End Users, Region. Based on Solutions, the market is further fragmented into Business Intelligence, Portfolio Management, Facility Management, Real Estate Search, Asset Management, Enterprise Resource Planning, Others. Based on Applications, the market is segmented into Commercial, Residential. Based on Residential Applications, the market is segmented into Multi Family Housing, Single Family Housing, Others. Based on Commercial Applications, the market is fragmented into Retail Spaces, Office Spaces, Others. Based on Deployment, the market is segmented into On-Premises, Cloud. Based on End-Users, the market is fragmented into Housing Associations, Real Estate Agents, Property Investors, Others.
Key market players in the Vietnam PropTech Market include:
- Oracle Vietnam
- IBM Vietnam Co., Ltd
- In4Velocity Systems Vietnam
- VIBIM Vietnam
- Qsoft Vietnam
- HiNet Viet Nam
- Twin Joint Stock Company
- Autodesk Inc.
- DIP Vietnam Technology Corporation
- Holomia Technology Company Limited
- Epicor Software Corporation
- House3D
- Savills Vietnam
- REESOFT
- AMI Group Co., Ltd
The market’s competitive landscape is highly fragmented. Market players focus on strategies such as partnerships, joint ventures, service innovations, new vertical development, and geographical expansion to strengthen their market positions.
On the basis of region, the market is divided into Northern Vietnam, Southern Vietnam and Central Vietnam. Among all regions, Southern Vietnam is expected to dominate the market in the forecast period. Southern Vietnam is an important market for more user-oriented, interactive, advanced, and secured technologies, along with the increasing initiatives for the newer technologies. This region has emerged as a hub for large investments and business expansions.
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“Growing need for secure database for property management across the country with the growing digitalization is expected to expand the Vietnam PropTech Market forward. The smart technologies are spreading in all aspects of the real estate market that involves property sales, leasing, marketing activities and real estate management. As a result, the upsurge in the AI (Artificial Intelligence) and Big Data technologies for the AI-driven business predictions are expected to boost the demand of the Vietnam PropTech Market in the upcoming years.” said Mr. Karan Chechi, Research Director with TechSci Research, a research-based global management consulting firm.
“Vietnam PropTech Market By Solutions (Business Intelligence, Facility Management, Portfolio Management, Real Estate Search, Asset Management, Enterprise Resource Planning, Others), By Applications (Residential (Multi Family Housing, Single Family Housing, Others), Commercial (Retail Spaces, Office Spaces, Others), By Deployment (On-Premises, Cloud), By End Users (Housing Associations, Real Estate Agents, Property Investors, Others), By Region, Competition Forecast & Opportunities, 2027,” has evaluated the future growth potential of Vietnam PropTech Market and provides statistics & information on market size, structure, and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in Vietnam PropTech Market.
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