Vietnam PropTech Market Analysis and Forecast, 2019-2028

Introduction

Proptech, short for property technology, refers to the use of technology in the real estate industry to improve efficiency, reduce costs, and enhance the customer experience. In Vietnam, the proptech market is growing rapidly due to the increasing adoption of technology in the real estate sector and the growing demand for online property services.

The Vietnam proptech market is expected to experience significant growth in the coming years, driven by the growth of the real estate sector and the increasing adoption of technology. Market players can take advantage of this growth opportunity by expanding their product offerings, enhancing their technology capabilities, and improving their customer experience.

Market Overview

The Vietnam proptech market was valued at US$ 200 million in 2020 and is expected to reach US$ 1 billion by 2028, growing at a CAGR of 22.4% during the forecast period (2023-2028). The growth of the real estate sector, the increasing adoption of technology, and the growing demand for online property services are driving the growth of the market.

Geographical Analysis

The market is segmented into North, Central, and South regions. The North region is expected to hold the largest share of the market, due to the high concentration of population and businesses in cities such as Hanoi and Hai Phong. However, the South region is expected to grow at the fastest rate, due to the increasing demand for online property services in cities such as Ho Chi Minh City and Binh Duong.

Competitive Landscape

The Vietnam proptech market is highly competitive, with a large number of players. Some of the key players in the market include Batdongsan.com.vn, DatXanh Group, VN Home, and YEG. These players are focusing on expanding their product offerings, enhancing their technical capabilities, and improving their customer experience to stay ahead of the competition.

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.

Primary Intelligence

• RationalStat utilizes surveys, questionnaires, focus groups, and one-to-one interviews with CXOs, industry partners, trade bodies, association members, ex-employees, and industry professionals to collect insights and quantitative/qualitative data specific to client needs. RationalStat quickly gets to the ‘why’ behind the ‘what’ demonstrated by secondary data.
• RationalStat takes a unique approach to arrive at market conclusions and actionable insights for clients.
• We have the technology and strong in-house resource pool with extensive experience in the global and regional markets, across a wide variety of categories and stakeholders.
• Strong language proficiency and capability with coverage across more than 70 language areas.

Secondary Sources

• Annual reports, company filings, investor presentations, product catalogs, and company documents
• Industry and market-related documents available in the public domain
• Paid databases including Bloomberg, Factiva, S&P Capital IQ, FactSet, Refinitiv Eikon, ICIS, EUWID, and Thomson Reuters, among others
• Whitepapers, research papers, and industry blogs.