(MENAFN- GlobeNewsWire - Nasdaq) Wilmington, Oct. 08, 2023 (GLOBE NEWSWIRE) -- Vietnam PropTech market size was valued at US$ 500 million in 2022 and is predicted to rise at a substantial CAGR of 22.4% during the forecast period of 2023 and 2030 according to RationalStat analysis. More than 78 proptech companies are currently operating in Vietnam, providing listing services and e-commerce platforms in the marketplace. Market Definition, Market Scope, and Report Overview
The PropTech market is concerned with property technology, which is used to improve the real estate industry. It encompasses a wide range of technologies, including artificial intelligence, big data, blockchain, and the Internet of Things (IoT). PropTech is being used to improve all aspects of the real estate industry, from buying and selling homes to managing properties and developing new real estate projects.
Online real estate marketplaces are becoming increasingly popular in Vietnam, as they offer a convenient and efficient way for buyers and sellers to connect with each other. Some of the leading online real estate marketplaces in Vietnam include Batdongsan, Homebase, and Propzy.
According to a deep-dive market assessment by RationalStat, the Vietnam PropTech market has been analyzed on the basis of market segments, including solutions, deployment, end use, and geography/regions (including North Vietnam, Central Vietnam, and Southern Vietnam) . The report also offers Vietnam and regional market sizing for the historical period of 2019-2022 and the forecast period of 2023-2030. Market intelligence for the Vietnam PropTech market covers market sizes on the basis of market value (US$/EUR Million) and volume (Tons) by various products/services/equipment, demand assessment across the key regions, customer sentiments, price points, cost structures, margin analysis across the value chain, financial assessments, historical and forecast data, key developments across the industry, import-export data, trade overview, components market by leading companies, etc. In addition, the long-term sector and products/services 10-year outlook and its implications on the Vietnam PropTech market. It also includes the industry's current state – Production Levels, Capacity Utilization, Tech quotient, etc. Key information will be manufacturing capacity by country, installed base, import volumes, market size, key players, market size, dynamics, market data, insights, etc.
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Vietnam PropTech Market: Segmental and Market Share Analysis
On the basis of deployment, the Cloud segment is expected to dominate the market owing to the rising prevalence of IT and the use of mobile phones for every need. On the basis of solutions, Real Estate Search is predicted to develop significantly during the projection period.
Report Synopsis
| Report Metrics | Details |
| Base Year | 2022 |
| Forecast Period | 2023-2030 |
| Base Year Market Size | US$ 500 million |
| Market Size Forecast | US$ 2,515.4 million |
| Growth Rate | 22.4% |
| Key Market Drivers | Growing Real Estate Sector Increasing adoption of technology in real estate Rising demand for online property service |
| Companies Profiled | Oracle Corporation IBM Corporation In4Velocity Systems VIBIM Qsoft Vietnam HiNet Vietnam Twin Software Solutions JSC Epicor Software Corporation AMI Group Co Ltd. REESOFT |
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Competition Analysis and Market Structure
Currently, about 75% of players in the Vietnam PropTech market are foreign start-ups. Some of the prominent players adopt various strategies in order to reinforce their market share and gain a competitive edge over other competitors in the market. Mergers & acquisitions, and partnerships and collaborations are some of the strategies followed by industry players, some of the key developments in the Vietnam PropTech market include,
In October 2023, Batdongsan, Vietnam's largest real estate portal, partnered with MoMo, Vietnam's leading mobile wallet, to allow users to pay for real estate services directly on the Batdongsan app. In September 2023, SaaS, a Vietnamese proptech startup that provides software solutions for real estate agents and developers, partnered with Microsoft Vietnam to launch a new cloud-based platform for the real estate industry. In August 2023, Go2Joy Vietnam, a Vietnamese proptech startup that provides online real estate brokerage services, partnered with Techcombank, Vietnam's largest private bank, to offer home loans at preferential rates to Go2Joy Vietnam customers.
Some of the prominent players and suppliers operating and contributing significantly to the Vietnam PropTech market growth include Oracle Corporation, IBM Corporation, In4Velocity Systems, VIBIM, Qsoft Vietnam, HiNet Vietnam, Twin Software Solutions JSC, Epicor Software Corporation, AMI Group Co Ltd., and REESOFT, among others.
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RationalStat has segmented the Vietnam PropTech market based on solutions, deployment, end use, and region
Vietnam PropTech Market Value (US$ Million), Volume (Tons), and Market Share (2019-2030) Analysis by Solutions Business Intelligence Facility Management Portfolio Management Real Estate Search Asset Management Enterprise Resource Planning Others
Vietnam PropTech Market Value (US$ Million), Volume (Tons), and Market Share (2019-2030) Analysis by Deployment Vietnam PropTech Market Value (US$ Million), Volume (Tons), and Market Share (2019-2030) Analysis by End Use Housing Associations Real Estate Agents Property Investors Others
Vietnam PropTech Market Value (US$ Million), Volume (Tons), and Market Share (2019-2030) Analysis by Region Northern Vietnam Central Vietnam Southern Vietnam
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Key Questions Answered in the PropTech Report:
What will be the market value of the Vietnam PropTech market by 2030? What is the market size of the Vietnam PropTech market? What are the market drivers of the Vietnam PropTech market? What are the key trends in the Vietnam PropTech market? Which is the leading region in the Vietnam PropTech market? What are the major companies operating in the Vietnam PropTech market? What are the market shares by key segments in the Vietnam PropTech market?
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Research Methodology
RationalStat has developed a state-of-the-art research methodology to crunch numbers and provide the best possible real-time insights to clients. We combine a varied range of industry experience, data analytics, and experts' viewpoint to create a research methodology for market sizing and forecasting.
RationalStat combines a mix of secondary sources as well as primary research to assess the market size and develop a forecast. Key steps involved in accurately deriving the market numbers are:
Defining the problem by understanding the type of market and data required by the client. Data gathering and collection through relevant paid databases, publicly available sources, company reports, annual reports, surveys, and interviews. Formulating a hypothesis to create market numbers, forecasts, influencing factors, and their relevance. Evaluating and analyzing the data by referring to data sources utilized and leveraged. Validating, interpreting, and finalizing the data by combining the details gathered from primary and secondary sources with the help of experienced analysts.
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