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.
PropTech
is the terminology for property technology based on the rising information
technologies to help individuals and companies research, buy, sell, and manage
their real estate. PropTech practices digital innovation to address the needs
of the property industry with IoT
Security. PropTech technology is
designed to modernize and connect processes for participants in all real estate
market stages, including buyers, sellers, brokers, lenders, and landlords.
PropTech
technologies generally comprise virtual reality software that allows website
visitors to virtually walk-through properties, software for reporting repairs,
splitting rent payments, and crowdfunding new real estate projects. Technology
is comparatively a new field as the convergence of technologies, cloud, and
digital transformation are majorly the driving forces for the PropTech market.
The objectives of introducing PropTech technology include minimizing the cost
& resources associated with real estate transactions, maximizing
efficiency, saving time, and personalizing property management.
Enhancement of Smart
Technologies Driving the Market Growth
The
amalgamation of real estate and technology is increasingly flourishing in
Vietnam, which is in line with the growth of the real estate market in the
country in recent years. The penetration of various types of property segments,
including housing, offices, hospitality, building management services, etc., is
the driving force of the booming era of digital technology. The adoption of
smart technologies related to property management is, in turn, propelling the
Vietnam PropTech Market. The PropTech technology is aiding the real estate
business across the country in changing their business models and adapting to
the new generation of customers. Smart technologies are spreading in all
aspects of the real estate market that involves property sales, leasing,
marketing activities, and real estate management. The PropTech technology is
changing the prospect of the local property landscape as well as improving
users' experience in a smart and effective way.
Growing Need for Secure
Database Supports Market Growth
The infrastructure is
growing with digitalization, and the need for security of the data is
increasing as the data is the core element for real estate developers. The
monthly transactions, along with the various useful information comprising
rentals, real selling prices, and secondary market transaction prices, are
required to be stored safely. The PropTech technology provides information that
the customers can access and get familiar with the property and the conditions
of the transaction processes. Only authorized technology users can access the
database to identify the authentication of the documents by using given
credentials. Unauthorized users cannot access the database under any
circumstances as it violates integrity constraints. Thus, the secure database
is driving the Proptech market to grow across the country.
AI and Big Data to Energy up PropTech Market in the
Upcoming Years
Industrial buildings, which
are a major part of the infrastructure, and even private housing, all depend on
the various parameters that include customers' behavior patterns, Energy
consumption peaks, traffic and logistics, and housing equipment state. For converting
these parameters into data and then turning it into useful information,
AI-based real estate software processes are used. The data is converted into
the form of dashboards, graphics, and all kinds of reports for real estate
management. Additionally, AI-driven business predictions have also been known
for their precision for quite a while. The predictions have become invaluable
for market behavior analysis, serving as an irreplaceable decision-making
management tool. Such factors related to AI (Artificial Intelligence) and
Big Data technology along with the rise in the Web 3.0 Blockchain Technology are
expected to boost the demand for the Vietnam PropTech Market in the upcoming
years.
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Market Segmentation
The Vietnam PropTech
Market is
segmented based on Solutions, Applications, Commercial Applications, Residential
Applications, Deployment, End Users, Region and by top 10 provinces. Based on Solutions,
the market is further fragmented into Business Intelligence, Facility Management,
Portfolio 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. The Southern Vietnam PropTech Market stood at USD 243.29 million in
the year 2021 and is projected to grow at a CAGR of 17.01%
during the forecast period. Southern Vietnam comprises some of the most
infrastructurally sound cities, such as Ho Chi Minh City, Binh Thuan, Con Dao, Phu
Quoc, Can Tho and Chau Doc.The Northern Vietnam PropTech
Market stood at USD 184.86 million in the year 2021 and is projected to grow at
a CAGR of 16.13% during the forecast period.
Company Profiles
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, among
others are among the major market players in the Vietnam PropTech Market.
|
Attribute
|
Details
|
|
Market
size value in 2021
|
USD
446.08 million
|
|
Revenue
Forecast in 2027
|
USD1,131.34 million
|
|
Southern
Vietnam Market size value in 2021
|
USD243.29 million
|
|
Growth
Rate
|
16.47%
|
|
Base
Year
|
2021
|
|
Historical
Years
|
2017 – 2020
|
|
Estimated
Year
|
2022
|
|
Forecast
Period
|
2023 – 2027
|
|
Quantitative
Units
|
Revenue in USD Million, CAGR for 2017-2021 and 2022E-2027F
|
|
Report
Coverage
|
·
Revenue forecast, company share, competitive landscape, growth
factors, and trends
|
|
Segments
Covered
|
·
Solutions
·
Applications
·
Commercial Applications
·
Residential Applications
·
Deployment
·
End Users
·
Region
|
|
Regional
Scope
|
Southern
Vietnam; Central Vietnam; Northern Vietnam
|
|
Key
Companies Profiled
|
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, among others
|
|
Customization
Scope
|
10% free
report customization with purchase. Addition or alteration to country,
regional & segment scope.
|
|
Pricing
and Purchase Options
|
Avail
customized purchase options to meet your exact research needs. Explore purchase options
|
|
Delivery
Format
|
PDF and Excel through Email (We can also provide the editable
version of the report in PPT/pdf format on special request)
|
Report Scope:
In this report, Vietnam PropTech
Market has been segmented into following categories, in addition to the
industry trends which have also been detailed below:
·
Vietnam PropTech Market,
By Solutions:
o Real Estate Search
o Portfolio Management
o Business Intelligence
o Enterprise Resource Planning
o Asset Management
o Facility Management
o Others
·
Vietnam PropTech Market, By Applications:
- Vietnam PropTech
Market, By Commercial Applications:
- Office Spaces
- Retail Spaces
o Others
- Vietnam PropTech
Market, By Residential Applications:
o Single Family Housing
o Others
·
Vietnam PropTech Market, By Deployment:
o
Cloud
o On-Premises
·
Vietnam PropTech Market, By End Users:
o
Real
Estate Agents
o
Property
Investors
o Housing Associations
o Others
·
Vietnam PropTech Market, By Region:
Competitive Landscape
Company
Profiles: Detailed
analysis of the major companies present in Vietnam PropTech Market
Available Customizations:
With the given market data, TechSci
Research offers customizations according to a company’s specific needs. The
following customization options are available for the report:
Company Information
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five).
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