Vietnam PropTech Market to Grow with a CAGR of 16.47% During the Forecast Period
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"
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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