Implementation of government initiatives to expand e-commerce growth in the region is driving the Vietnam digital marketplace market demand during the forecast period.

The Vietnam Digital Marketplace Market size was valued at USD 10.57 billion in 2023, and is predicted to reach USD 18.23 billion by 2030, at a CAGR of 8.0% from 2024 to 2030, according to new research by Next Move Strategy Consulting.

The government's efforts to expand the e-commerce sector in Vietnam play a crucial role in driving the growth of the digital marketplace market within the country. For instance, in July 2023, the Department of E-Commerce and Digital Economy, under Vietnam's Ministry of Industry and Trade (MoIT), initiated a project to establish a unified e-commerce platform covering all 63 cities and provinces. This initiative aims to streamline and improve the e-commerce landscape nationwide, facilitating smoother online transactions, enhancing accessibility for businesses and consumers, and promoting economic growth by leveraging digital technologies to expand e-commerce opportunities. The proactive involvement of the government stimulates the growth and competitiveness of the Vietnam digital marketplace market, positioning it as a key driver of economic development and innovation in the country.

However, the expansion of the market faces significant obstacles due to concerns related to cybersecurity threats and consumer trust issues. When consumers perceive online platforms as susceptible to cyberattacks, they hesitate to share personal information or engage in transactions, fearing potential privacy breaches or financial harm. This lack of trust result in decreased utilization of digital marketplaces and reluctance to participate in online shopping, thus impeding Vietnam digital marketplace market growth.

Additionally, occurrences of data breaches or fraudulent activities tarnish the reputation of digital marketplaces, dissuading both consumers and businesses from active involvement in the online marketplace environment.

On the other hand, the integration of AR and VR technologies presents an opportunity for online marketplaces to enhance user experiences. By incorporating AR and VR, digital marketplaces provide users with immersive and interactive shopping experiences. These technologies enable consumers to visualize products in real-world settings, virtually try them before making a purchase, and explore dynamic virtual environments. Such immersive experiences not only enhance customer engagement and foster brand loyalty but also drive sales.

Moreover, AR and VR empower businesses to effectively showcase their products by offering detailed information and personalized recommendations to users. Thus, the integration of AR and VR technologies would transform the future of digital marketplaces by delivering innovative and compelling shopping experiences.

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Several key market players operating in the Vietnam digital marketplace industry include Amazon.com, Inc., Walmart Inc., eBay Inc., Alibaba Group Holding Limited, Rakuten Group, Inc., Sea Limited, MercadoLibre, Inc., JD.com, Inc., Etsy, Inc., Allegro.eu, Kogan.com, SEEK, Carsales, REA Group Ltd., Airtasker Ltd. and others.

Key Insights from the Vietnam Digital Marketplace Market Report:

• The information related to key drivers, restraints, and opportunities and their impact on the Vietnam digital marketplace market is provided in the report.

• The value chain analysis in the market study provides a clear picture of the roles of each stakeholder.

• The market share of players in the Vietnam digital marketplace market is provided in the report along with their competitive analysis.