Vietnam Conversational Commerce Market Intelligence and Future Growth Dynamics Databook Q1 2023 Update: Sector to Reach $17.16 Billion by 2028 at a 19.1% CAGR
The conversational commerce transaction value in the country will increase from US$7,172.5 million in 2023 to reach US$17,163.1 million by 2028.
DUBLIN, May 5, 2023 /PRNewswire/ -- The "Vietnam Conversational Commerce Market Intelligence and Future Growth Dynamics Databook - 75+ KPIs on Conversational Commerce Trends by End-Use Sectors, Operational KPIs, Product Offering, and Spend By Application - Q1 2023 Update" report has been added to ResearchAndMarkets.com's offering.
According to the publisher, the conversational commerce industry in Vietnam is expected to grow by 23.3% on annual basis to reach US$7,172.5 million in 2023.
The conversational commerce industry is expected to grow steadily over the forecast period, recording a CAGR of 19.1% during 2022-2028. The conversational commerce transaction value in the country will increase from US$7,172.5 million in 2023 to reach US$17,163.1 million by 2028.
The conversational commerce market is poised to record strong growth in Vietnam over the next five years. The surge in live shopping, coupled with the innovative startup landscape, will aid the industry's growth. The presence of global giants such as TikTok is also helping to fuel the growth of the Vietnamese conversational commerce market.
Looking forward, investment in digital infrastructure will be critical in supporting the continued growth of the conversational commerce market in Vietnam. The government has already made significant investments in digital infrastructure in recent years, including expanding access to high-speed internet and investing in 5G networks. These investments will help to create a more robust digital ecosystem, which will be essential in enabling businesses to engage with customers more effectively and efficiently.
Live shopping trends and the growing number of online content creators will aid industry growth in Vietnam
Live shopping has become increasingly popular among consumers in Vietnam. This trend has been fueled by a number of factors. The rise of e-commerce, the proliferation of smartphones and high-speed internet access, and the growing interest in interactive and engaging shopping experiences are driving live shopping trends.
Another factor aiding the popularity of live shopping is the upsurge in the content creation space in Vietnam. More and more people, especially youths, are turning to platforms like YouTube, Facebook, and TikTok to create and share content. From product reviews and tutorials, Vietnamese influencers are sharing all types of content on social media platforms. As these content creators build audiences and establish their credibility in certain product categories, brands are leveraging their outreach to advocate products, thereby targeting higher revenue and sales growth.
This trend toward content creation is particularly important for the growth of conversational commerce in Vietnam. As more and more content creators enter the market, the conversational commerce industry is projected further grow over the next five years. Furthermore, as more consumers embrace online shopping and seek out engaging and interactive shopping experiences, businesses will need to find new and innovative ways to connect with these customers and stand out in a crowded marketplace.
Entry of global players is expected to aid conversational commerce industry growth in Vietnam
With the high-growth potential of the conversational commerce industry in Vietnam, more and more global players are projected to enter the market from the short to medium-term perspective. In 2022, leading global Conversational Commerce platforms such as TikTok have already launched their TikTok Shop feature in Vietnam, as part of their strategy to expand in the Southeast Asian market. Over the next three to four years, the publisher expects more players in the conversational commerce industry to enter the market, thereby driving innovation and the competitive landscape. This, coupled with the growing shift among brands that are seeking to improve customer engagement through conversational commerce capabilities, will also support the industry growth over the next three to four years in Vietnam.
This report provides a detailed data centric analysis of conversational commerce industry, covering market opportunities and risks. With over 50+ KPIs at country level, this report provides a comprehensive understanding of conversational commerce market dynamics, market size and forecast, and market share statistics.
The research methodology is based on industry best practices. Its unbiased analysis leverages a proprietary analytics platform to offer a detailed view on emerging business and investment market opportunities.
Scope
This report provides in-depth, data-centric analysis of conversational commerce in Vietnam. Below is a summary of key market segments:
Vietnam Conversational Commerce Industry Market Size and Future Growth Dynamics by Key Performance Indicators
- Transaction Value
- Transaction Volume
- Average Value Per Transaction
Vietnam Conversational Commerce Industry Market Size and Forecast by Virtual Assistant Type
- AI-Based Virtual Assistants
- Non-Intelligent Chatbot
Vietnam Conversational Commerce Industry Market Size and Forecast by Virtual Assistant Type
- Chatbots
- Digital Voice Assistants
- OTT Messaging
- RCS Messaging
Vietnam Conversational Commerce Industry Market Size and Forecast by Chatbots
- Web-Based
- App-Based
Vietnam Conversational Commerce Industry Market Size and Forecast by Key Sectors
- Retail Shopping
- Travel & Hospitality
- Online Food Service
- Media and Entertainment
- Healthcare and Wellness
- Financial Services
- Technology Products and Services
- Other Sectors
Vietnam Conversational Commerce Industry Market Size and Forecast in Key Sectors by Product Offering
- Retail Shopping Market By Chatbots
- Travel & Hospitality Market By Chatbots
- Online Food Service Market By Chatbots
- Media and Entertainment Market By Chatbots
- Healthcare and Wellness Market By Chatbots
- Financial Services Market By Chatbots
- Technology Products and Services Market By Chatbots
- Other Sectors Market By Chatbots
- Retail Shopping Market By Digital Voice Assistants
- Travel & Hospitality Market By Digital Voice Assistants
- Online Food Service Market By Digital Voice Assistants
- Media and Entertainment Market By Digital Voice Assistants
- Healthcare and Wellness Market By Digital Voice Assistants
- Financial Services Market By Digital Voice Assistants
- Technology Products and Services Market By Digital Voice Assistants
- Other Sectors Market By Digital Voice Assistants
- Retail Shopping Market By OTT Messaging
- Travel & Hospitality Market By OTT Messaging
- Online Food Service Market By OTT Messaging
- Media and Entertainment Market By OTT Messaging
- Healthcare and Wellness Market By OTT Messaging
- Financial Services Market By OTT Messaging
- Technology Products and Services Market By OTT Messaging
- Other Sectors Market By OTT Messaging
- Retail Shopping Market By RCS Messaging
- Travel & Hospitality Market By RCS Messaging
- Online Food Service Market By RCS Messaging
- Media and Entertainment Market By RCS Messaging
- Healthcare and Wellness Market By RCS Messaging
- Financial Services Market By RCS Messaging
- Technology Products and Services Market By RCS Messaging
- Other Sectors Market By RCS Messaging
Vietnam Conversational Commerce Industry Market Size and Forecast by Organization Size
- Large Enterprise
- Medium-Sized Enterprise
- Small Enterprise
Vietnam Total Spend on Conversational Commerce Market
Vietnam Conversational Commerce Industry Market Size and Forecast by Spend on Application
- Software Application
- IT Services
- Consulting Services
Vietnam Conversational Commerce Spend on Key Sectors
- Retail Shopping
- Travel & Hospitality
- Online Food Service
- Media and Entertainment
- Healthcare and Wellness
- Financial Services
- Technology Products and Services
- Other Sectors
Reasons to buy
- In-depth Understanding of Conversational Commerce Market Dynamics: Understand market opportunities and key trends along with forecast (2019-2028).
- Insights into Opportunity by end-use sectors - Get market dynamics by end-use sectors to assess emerging opportunity across various end-use sectors.
- Develop Market Specific Strategies: Identify growth segments and target specific opportunities to formulate conversational commerce strategy; assess market specific key trends, drivers, and risks in the industry.
For more information about this report visit https://www.researchandmarkets.com/r/djkyfu
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