Vietnam PropTech Market to be Dominated by Residential Segment through 2026
Growing digital transformation and the
high internet penetration is expected to drive the demand of Vietnam PropTech
market in the forecast period.
According to TechSci Research report, “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”, the Vietnam PropTech market is expected to grow
at a rate of steady CAGR in the forecast period, 2022-2026. PropTech, also
known as property technology, applies information technology and platform
economics to the real estate sector. The growing demand for PropTech technology
is to make the transactions quicker, safer, and secure and reduce the
paperwork. 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.
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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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