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Increased Demand for Cyber Security Solutions in Vietnam Driven by Surging Digital Penetration, Investments by the SMEs on Cyber Security Solutions and Increase in Cyber Threat Incidents: Ken Research

Ken Research recommends that the companies operating in cyber security market of Vietnam can expand their market share and increase revenue generated by adopting technological advancements, increase in the investments in cyber security market
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“The constantly improving internet infrastructure in the telecom industry, increasing digital presence across various sectors and domestic enterprises increasing their IT spending to upgrade their IT infrastructure consisting of servers, network equipment, cybersecurity equipment and software have positively impacted the cybersecurity of the industry of Vietnam.”

The report titled Vietnam Cyber Security Industry Outlook to 2023 – By Solutions (Firewall & UTM, Intrusion Detection System, Antivirus and Others), By End Users (Banking & Finance, Government, IT & Telecom, Retail and Others), By Import and Domestic Security Solutions, By Security (Network Security, Application Security, End-Point Security, Mobile & Wireless Security, Content Security, and Cloud Security)by Ken Research recommends that the companies operating in the cyber security market of Vietnam can expand their market share and increase revenue generated by adopting technological advancements, increase in the investments in cybersecurity market, enhancing the physical infrastructure in the sector, developing cybersecurity manpower base and encouraging home grown talents and grabbing opportunities. The market is expected to register a positive CAGR of 14.8% in terms of revenue during the forecast period 2018P-2023E.

Increased Demand for Cyber Security
Increased Demand for Cyber Security Solutions 


Increased Demand for Cyber Security Solutions

Over the years, Vietnam has witnessed an increase in the number of internets users along with the increase in the social media users who are always at the risk of cyber threats in Vietnam. According to the government statistics, the internet users in Vietnam were witnessed to be around 64 million with active social media users to be around 62 million, in addition to this, mobile social media user reached approximately 58 million and the mobile subscription of Vietnam was witnessed around 143.3 million in the first quarter of 2019. The online payment transactions have increased which has increased the threat probability pertaining to the user’s data and systems. This has augmented the growth of the cyber security market in Vietnam.

Cyber Security Regulations in Vietnam

 
Cyber Security Regulation 

Vietnam faces a lack of cybersecurity regulations to manage the cyberspace of the country. The first initiative in the cybersecurity market in Vietnam was in the year 2010 with a dedicated government road map. Prior to this government road map, the initiatives in this domain were scattered and area focused. According to the industry statistics, around 61% of the personal computers in Vietnam are infected by malware and is among the top countries having the highest rate worldwide of personal devices infected with virus or malware. Therefore a detailed and structured cybersecurity law is of utmost importance for Vietnam in the current scenario.

The emergence of Domestic Companies

Over the years, Vietnam has been observed to grow in terms of the number of cyber crime and is on the edge of becoming a mid-tier cyber crime hub, opening opportunities for cybersecurity companies looking to tap this market. Some of the major cybercrimes that the country witnessed during 2018 was crypto-mining malware, ransomware, and others. Almost 60% of the network system of agencies and enterprises were infected with crypto mining malware during the year 2018. Vietnam being a price-sensitive economy, the domestic cybersecurity companies are grabbing this opportunity by providing low-cost security solutions. Majority of the domestic companies in Vietnam are only 10-12 years old and new domestic companies are expected to enter the market in the future.  In addition to this, companies in the cybersecurity sector are expected to further push Vietnam into new areas of security solutions and services such as cloud security and Artificial Intelligence (AI) giving an optimistic outlook towards the market.

Key Segments Covered

Cyber Security Market
By Imported & Domestic Security Solutions

Imported Services and Solutions
Domestic Services and Solutions

By Type of Solutions:-

Firewall and Unified Threat Management (UTM)
Intrusion Detection System (IDS/IPS)
Antivirus/Antimalware
Identity and Access Management (IAM)
Encryption
Data Loss Prevention (DLP)
Disaster Recovery
IoT Devices

By End User:-

Banking & Finance
Government
IT & Telecom
Retail
Healthcare
Energy & Power
Private Use
Others

By Type of Security:-

Network Security
Application Security
End- Point Security
Mobile & Wireless Security
Content Security
Cloud Security
Key Target Audience:-
Banks and Financial Institutions
Government Organizations
Retail Companies
Hospitals and Clinics
Airports
Cloud Computing Services Companies
IT- Companies
Home Users

Time Period Captured in the Report:-

Historical Period - 2013-2018
Forecast Period - 2019-2023E

Major Companies Covered:-

Juniper Network
Cisco
Check Point Software Technologies Ltd
Symantec Corporation
Hewlett Packard Enterprise Development LP
Kaspersky
Fortinet
CMC Corporation
Other Players:-
Vietnam Security Network (VSEC)
Vietnam Cyberspace Security technology (VNCS)
BAE Systems
radar
IBM Corporation
Trend Micro
Oracle
Wanders
Sophos
Sentry Bay
AVG Technologies
Fire Eye

Keywords:-

Vietnam Cyber Security Industry

Vietnam Cyber Security Market

Number of Credit Card Transactions in Vietnam

Cisco Cyber Security Market Sales Vietnam

Number Of End Users In Banking Cyber Security Market

Vietnam Cryptomining Malware Market Analysis

Cyber Security Industry In Vietnam

Major Technologies In Vietnam Cyber Security Market

Vietnam Email Threats Cyber Security Market

Vietnam Firewall Market Size

Vietnam Network Security Market

Vietnam Cloud Security Market

Vietnam Retail Cyber Security Market

Vietnam Cyber Security Market Size

Vietnam Telecom Cyber Security Market

Vietnam Government Cyber Security Market

For more information, refer to below link:-

Related Reports:-

Contact Us:-
Ken Research
Ankur Gupta, Head Marketing & Communications
Sales@kenresearch.com
+91-9015378249

 


 


 


 

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