Technology
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
“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 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
Ken Research
Ankur Gupta, Head Marketing & Communications
Sales@kenresearch.com
+91-9015378249
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