Growing digital transformation and the high internet penetration is expected to drive the demand of Vietnam PropTech market in the forecast period.
The PropTech industry has witnessed huge investments from prominent investors and venture capital companies and is expected to witness significant growth. The rising adoption of technologically enabled solutions or services across the real estate industry is expected to create attractive opportunities for the Vietnam PropTech market growth. The surge in the number of PropTech start-ups contributes to the market's expansion by adopting innovative solutions to the customers. Digitization of the property industry has helped increase transparency and provide information to the customers so that they can choose the best option according to their convenience and affordability. PropTech platforms assist the liquidity as it enables fractional ownership of the real estate property, thereby increasing homeownership access to the mass population.
However, the privacy and data security concerns may restrain the Vietnam PropTech market growth for the forecast period.
Browse XX Figures spread through 70 Pages and an in-depth TOC on "Vietnam PropTech Market”.
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Vietnam PropTech market is segmented into solutions, applications, deployment, end users, regional distribution, and company. Based on applications, the market is majorly divided into residential and commercial. The residential segment is further divided into multi-family housing, single-family housing, others, while the commercial segment is divided into retail spaces, office spaces, others. The residential segment is expected to account for major market share for the forecast period, 2022-2026. The continuous rise in the population and the rapid urbanization are driving the demand for residential spaces. The surge in consumer awareness about the benefits of availing services from the PropTech technology and the rapid infrastructural development is expected to influence the market growth for the next five years.
Based on deployment, the market is bifurcated into on-premises and cloud. The cloud segment is expected to witness the fastest incremental growth over the next five years. Cloud offers attractive features like scalability, flexibility and provided enhanced data security and unlimited data storage capacity. Cloud solutions are affordable and eliminate the need for unnecessary maintenance and operational cost. With the help of cloud solutions, users can access the platform at anytime from anywhere. Market players are investing in the development of such platforms to increase profitability and provide quality service along with the availability of customer support services to the customers.
Oracle Corporation, IBM Corporation, In4Velocity Systems, VIBIM, Qsoft Vietnam, HiNet Viet Nam, Twin Software Solutions JSC., Autodesk Inc., DIP Vietnam Technology Corporation, Holomia Technology Company Limited, Epicor Software Corporation, House3D, Savills Vietnam, REESOFT, AMI Group Co., Ltd are the leading players operating in Vietnam PropTech market. Service providers are increasingly focusing on research and development process to fuel higher growth in the market.
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“High-end investments by the market players fuel research and development activities and the growing consumer awareness towards the benefits of using PropTech technology to buy or invest in the real estate sector. The adoption of the latest technologies such as artificial intelligence, big data analytics, cloud computing, internet of things, and industrial internet of things technology is expected to contribute to the Vietnam PropTech market growth significantly. Market players are offering customized support to the potential customers and offering discounts to buy the real estate through the online platforms, which in turn is expected to propel the Vietnam PropTech market growth till 2026” 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, 2026” has evaluated the future growth potential of Vietnam PropTech market and provided statistics & information on market size, shares, 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 the of Vietnam PropTech market.
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