Vietnam’s e-commerce market to reach $7.5 billion by 2019: Ken Research
Vietnam’s e-commerce market to reach $7.5 billion by 2019: Ken Research
Ken Research has released its latest publication on “Vietnam E-Commerce Market Outlook to 2019 – Driven by Internet Penetration and Smartphone Usage”, which provides a comprehensive analysis of the e-commerce market in Vietnam.
The report covers market of e-commerce, online gaming market, segmentation by online retail market, online travel market, online entertainment and service booking market, regional demand and types of goods sold and performance models.
The report also provides descriptions of a competitive landscape and profile of major players operating in the e-commerce market of Vietnam. The future analysis of overall e-commerce market and by segment is also discussed in each sub-segment.
The report is useful for online retailers, large e-commerce companies and other stakeholders to align their market-centric strategies according to ongoing and expected trends in the future.
According to the report, Vietnam e-commerce market has witnessed a growth in recent years on account of rising demand for retail products fueled by introduction of new technologies, rising smartphone penetration and entry of new players. The surge in growth mostly originated from growth in online retail segment.
The growth in e-commerce has been largely led by domestic factors such as supportive government policies, increased demand and entry of new players in market.
This market is contains large companies, with Lazada and Hotdeal being dominant players in online retail segment.
The market for online gaming is dominated by VTG, which possesses a large portfolio of gamers of different age groups. The e-commerce market revenues of Vietnam have grown at a CAGR of 114.7% from 2011-2014.
According to the report, the Vietnam e-commerce market will grow at a considerable CAGR rate thus reaching $ 7.5 billion by 2019, driven by increasing internet penetration, rising personal disposable income, lower prices, better discounts relative to brick and mortar stores and presence of a large number of online retail portals offering a variety of goods.
“Increasing internet penetration due to technological improvement and decline in the prices of broadband services are anticipated to give a boost to Vietnam e-commerce market while lack of infrastructure facilities and negative price competition are a few of the major challenges which will affect the growth of this industry in the future”, according to research analyst firm Ken Research.
Ken Research is a leading global industry research and information service company operating with a network of partner firms across the US, Asia and Europe.
