Market Insights Advertising & Media Advertising

Digital Classifieds - Vietnam

Vietnam

Ad spending in the Digital Classifieds market in Vietnam is forecasted to reach US$37.18m in 2024.
The ad spending is expected to exhibit an annual growth rate (CAGR 2024-2029) of 0.30%, leading to a projected market volume of US$37.74m by 2029.
When compared globally, the majority of ad spending will originate from China (US$7,661.00m in 2024).
The average ad spending per internet user in the General classifieds market is estimated to be US$0.14 in 2024.
Within the Digital Classifieds market, 66.63% of the total ad spending is anticipated to come from mobile in 2029.
Vietnam's digital classifieds market is rapidly growing, driven by increasing internet penetration and a tech-savvy population.

Key regions: Japan, Australia, Europe, India, Germany

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Analyst Opinion

The Digital Classifieds market in Vietnam has experienced significant growth and development in recent years.

Customer preferences: Vietnamese customers have shown a strong preference for online platforms when it comes to buying and selling goods and services. This shift in consumer behavior can be attributed to the convenience and accessibility offered by digital classifieds platforms. With the increasing penetration of smartphones and internet connectivity in Vietnam, more and more people are turning to online platforms to find what they need.

Trends in the market: One of the key trends in the Digital Classifieds market in Vietnam is the rise of specialized platforms catering to specific industries or niches. For example, there are platforms dedicated to real estate, jobs, cars, and even pets. This trend reflects the growing demand for targeted and efficient solutions, as customers are looking for platforms that can provide them with relevant listings and a seamless user experience. Another trend in the market is the increasing popularity of mobile apps for digital classifieds. As mentioned earlier, the high smartphone penetration rate in Vietnam has fueled the adoption of mobile apps for various purposes, including buying and selling on digital classifieds platforms. Mobile apps offer users the convenience of accessing the platform anytime and anywhere, which has contributed to the growth of the market.

Local special circumstances: Vietnam has a large and young population, with a significant proportion of the population being tech-savvy and digitally connected. This demographic advantage has played a crucial role in the growth of the Digital Classifieds market in the country. Additionally, the relatively low cost of internet access and the increasing availability of affordable smartphones have made online platforms more accessible to a wider audience.

Underlying macroeconomic factors: Vietnam has been experiencing rapid economic growth in recent years, which has contributed to an increase in disposable income and consumer spending. This economic growth has created a favorable environment for the development of the Digital Classifieds market, as more people have the means to buy and sell goods and services. Furthermore, the government's efforts to promote digitalization and e-commerce have also played a role in driving the growth of the market. In conclusion, the Digital Classifieds market in Vietnam has witnessed significant growth and development due to customer preferences for online platforms, the emergence of specialized platforms, the popularity of mobile apps, the country's demographic advantage, and underlying macroeconomic factors such as rapid economic growth and government support for digitalization.

Methodology

Data coverage:

Data encompasses enterprises (B2B). Figures are based on digital classifieds advertising spending and exclude agency commissions, rebates, production costs, and taxes. The market covers digital classifieds advertising fees paid by advertisers to display online jobs, motor, real estate, and general classifieds.

Modeling approach:

Market size is determined by a combined top-down and bottom-up approach. We use market data from industry association reports, third-party reports, and survey results from our primary research (e.g., Consumer Insights) to analyze the markets. To estimate the market size for each country individually, we use relevant key market indicators and data from country-specific industry associations, such as GDP, internet users, and digital consumer spending.

Forecasts:

We use a variety of forecasting techniques, depending on the behavior of the market. For instance, the S-curve function is well suited to forecast digital products due to the non-linear growth of technology adoption, whereas exponential trend smoothing (ETS) is more suited for projecting steady growth in traditional advertising markets.

Additional notes:

Data is modeled using current exchange rates. The impacts of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level. The market is updated twice per year in case market dynamics change.