Vietnam Sales Intelligence Market Outlook to 2030

Vietnam Sales Intelligence Market Overview

• The Vietnam Sales Intelligence Market has seen a notable growth, by reflecting by the global sales intelligence market was valued USD 3.11 billion in 2023. This growth is primarily driven by the increasing adoption of advanced analytics and AI technologies by businesses to enhance their sales processes. The demand for real-time data and insights has propelled the market, as companies seek to gain a competitive edge by understanding customer behaviors and market trends more accurately.
• The key players in the Vietnam Sales Intelligence Market include industry giants such as Oracle Corporation, Salesforce.com, Inc., ZoomInfo Technologies LLC, LinkedIn Corporation, and Dun & Bradstreet, Inc. These companies have established a strong presence in the market through continuous innovation and strategic acquisitions. Their solutions are widely adopted by businesses across various sectors to streamline their sales processes and improve customer engagement.
• In February 2023, ZoomInfo, a leader in go-to-market software, data, and sales intelligence, announced that it would integrate GPT technology into its platform. This will help the sales and marketing teams connect with their customers better, reduce time, and deliver results more efficiently.
• Ho Chi Minh City was dominating region in 2023, driven by its attributed to its status as a commercial hub with a high concentration of businesses and advanced digital infrastructure. The presence of major corporations and tech startups in Ho Chi Minh City drives the demand for sophisticated sales intelligence solutions.

Vietnam Sales Intelligence Market Segmentation

The Vietnam Sales Intelligence Market is segmented into different segments like by product, by deployment mode and region.

By Product Type: The Vietnam Sales Intelligence Market is segmented by product type into software solutions, services, and data management platforms. In 2023, software solutions held the largest market share due to the widespread adoption of AI-powered sales intelligence software, which offers advanced features such as predictive analytics and real-time insights. Companies prefer software solutions for their ease of integration with existing systems and ability to deliver actionable insights that drive sales performance.

By Deployment Mode: The Vietnam Sales Intelligence market is further segmented by deployment mode into cloud-based and on-premises solutions. Cloud-based solutions dominated the market in 2023, driven by the flexibility, scalability, and cost-effectiveness of cloud-based sales intelligence tools. Businesses prefer cloud solutions as they enable easy access to data and insights from anywhere, facilitating remote work and collaboration.

By Region: The market is segmented by region into North, South, East, and West Vietnam. South region, held the largest market share in 2023. The region's dominance is due to its well-developed infrastructure, large number of enterprises, and higher adoption rate of advanced sales intelligence tools. The concentration of tech companies and startups in this region further drives the demand for innovative solutions.

Vietnam Sales Intelligence Market Competitive Landscape

• Demandbase: In May 2023, Demandbase, a company specializing in account-based marketing and sales intelligence, announced enhancements to its sales intelligence solutions to streamline the work of B2B sales representatives. The improvements include prescriptive dashboards with personalized account and contact recommendations. Additionally, it will integrate the sales execution platform 'Outreach' into its solution, enabling sellers to easily find contact accounts and data insights.
• Dun & Bradstreet: In June 2023, Dun & Bradstreet, a business decision data and analytics provider, launched D&B.AI Labs, which will create a transformative hub for its consumers to pursue the co-development of groundbreaking solutions catered to their specific needs. D&B AI Labs is an expert in leveraging AI, Machine Learning (ML), and LLM with advanced analytics.

Vietnam Sales Intelligence Market Analysis

Vietnam Sales Intelligence Market Growth Drivers

• Adoption of AI and Machine Learning Technologies: The integration of AI and machine learning in sales intelligence tools has been a significant growth driver for the Vietnam market. The integration of AI in marketing workflows is demonstrated through the use of chatbots (70%), AI-driven content creation (63%), and personalized recommendations (59%). This trend is expected to continue as businesses seek to leverage advanced analytics to gain deeper insights into customer behavior and market trends.
• Digital Transformation Initiatives: The Vietnam has a National Digital Transformation Program that was approved in 2020, aiming to enhance digital government, digital economy, and digital society by 2025, with orientations toward 2030. This financial support has enabled over 5,000 SMEs to upgrade their sales processes and improve operational efficiency.
• Growing E-commerce Sector: The rapid growth of the e-commerce sector in Vietnam has also fueled the demand for sales intelligence solutions. In 2024, the e-commerce market creating a substantial demand for advanced sales analytics to manage customer data and optimize sales strategies. This growth is expected to continue as more businesses enter the online retail space and seek efficient sales intelligence tools.

Vietnam Sales Intelligence Market Challenges

• Data Privacy and Security Concerns The increasing use of sales intelligence tools has raised significant concerns about data privacy and security. In 2023, Vietnam experienced 13,900 cyberattacksreported cases of data breaches, highlighting the need for robust security measures. Businesses are facing challenges in ensuring data protection and compliance with stringent regulations, which could hinder the adoption of sales intelligence solutions.
• High Implementation Costs: Implementing advanced sales intelligence tools involves substantial costs, which can be a barrier for many businesses. The high cost of deploying a comprehensive sales intelligence platform limits the adoption of these tools, particularly among small and medium enterprises (SMEs) with limited budgets.

Vietnam Sales Intelligence Market Government Initiatives

• Circular No 06/2019/TT/BKHDT In 2024, Network of Consultants for SMEs has Issued by the Ministry of Planning and Investment, Circular 06/2019 establishes a network of consultants to provide advisory services to SMEs. Micro businesses can avail a 100 percent subsidy up to USD 128 annually, small enterprises receive a 30 percent subsidy up to USD 213, and medium enterprises are entitled to a 10 percent subsidy up to USD 426. This initiative aims to support SMEs in enhancing their operational capabilities through expert advice.
• National AI Development Program: Decision 1290/QD-BKHCN is Issued on June 11, 2024, this decision provides guidance on principles for researching and developing responsible AI systems. It emphasizes a human-centric approach, balancing economic benefits with ethical considerations and legal compliance.

Vietnam Sales Intelligence Market Future Outlook

The Vietnam Sales Intelligence Market is poised for substantial growth by 2028. The market's future will be shaped by the increasing integration of AI and machine learning technologies, which will offer more advanced predictive analytics and deeper customer insights. Additionally, the rising adoption of cloud-based solutions will further drive market growth, enabling businesses to access sales intelligence tools with greater flexibility and scalability.

Market Trends

• Increased Integration of AI and Machine Learning Over the next five years, the integration of AI and machine learning in sales intelligence tools will continue to increase. By 2028, Vietnam will utilize AI-driven sales tools to gain deeper insights into customer behavior and market trends. This trend will drive the development of more advanced and predictive analytics solutions.
• Expansion of Cloud-Based Solutions The adoption of cloud-based sales intelligence solutions is projected to rise significantly by 2028. With an increasing number of businesses seeking flexible and scalable solutions, cloud-based tools will dominate the market. It is estimated that 70% of Vietnamese enterprises will rely on cloud-based sales intelligence platforms by 2028, facilitating remote access and collaboration.