Singapore tech firm iSense targets Vietnam’s smart city market

The company, which supplies 80% of Singapore’s smart lighting program, said in a statement Wednesday that Vietnam is emerging as one of the fastest-growing smart city markets, driven by rapid urbanization and government-backed digital initiatives to develop Internet of Things.

A smart tracking device developed by Viettel for Internet of Things applications. Photo courtesy of Viettel

Vietnam’s Internet of Things market is projected to reach $7 billion this year with nearly 100 million connected devices, "showing strong momentum for deploying nation-scale smart city infrastructure aligned with the country’s vision for sustainable and connected urban development," it added.

The country has been making strong effort to transition its internet protocol to from version 4 to version 6 (IPv6), which provides a larger address space and better security. For several years, Vietnam has been among the top 10 countries globally in transitioning to IPv6.

In July, a Vietnamese-designed Internet of Things chip has been launched by HCMC-based CT Group, marking a notable development in the country’s ambition to build domestic capacity in semiconductor design and production.

iSense has recently secured an undisclosed investment from DNAKE (Xiamen) Intelligent Technology, a publicly listed Chinese leader in smart intercom and building automation.

The funding is set to accelerate iSense’s expansion across Southeast Asia, helping it move closer to the goal of listing on Nasdaq within the next five years.

In Singapore, iSense’s projects deliver up to 70% energy savings in parks and over 50% savings in public housing estates. It also has projects in Thailand, Malaysia and Japan.