Vietnam Cybersecurity Market Outlook to 2025: Ken Research

The report titled Vietnam Cybersecurity Market Outlook to 2025 By Solution Source (Foreign/Imported Solutions and Domestic Solutions), By End User (Banking and Finance, Government/Public Sector, Aerospace & Defense, IT & Telecom, Retail & E-Commerce, Healthcare and others), By Solution type (Standalone Products, Managed Security Services and Professional Services), By Standalone Product Type (Firewall, Antivirus, End Point Security, IPS/IPD, SIEM,  Security Gateways and Others), By Managed Security Services Type (SOC, Network Security, Application Security, Email Security, Cloud Security, Mobile Security, Content Security and Others), By Professional Services Type (Penetration Testing, Security Audit, Cybersecurity Consulting, Security Training and Others)provides a comprehensive analysis on the status quo of the cybersecurity industry in Vietnam. The report covers various aspects including the cyber threat landscape in the country along with the major cyber attacks, the role of the government in improving information security infrastructure, key entities in the supply and demand side, Vietnam’s cybersecurity ecosystem as compared with ASEAN counterparts, cybersecurity product ecosystem in the country,  end user trends, decision making parameters, impact of technologies on developing cybersecurity solutions, competition landscape, challenges faced on both the demand and supply end, impact of the pandemic, future landscape of the market and strategies for new entrants in the market.

Vietnam Cybersecurity Market Overview and Size

Cybersecurity in Vietnam is in the growing phase with the presence of more than 80 companies licensed to distribute cybersecurity solutions in the country. Market revenues have been increasing at an impressive CAGR of 17.4% over 2014-2019, buoyed by governmental impetus to development in the local product infrastructure along with the rising cyber threat ecosystem in the country.  The number of domestic information security products in the country has also grown 2x from 2018, signaling the focus on local research and development. The growing end user cybersecurity requirement primarily from banks, government offices & departments, retail companies and healthcare entities has also supported a strong growth in revenues.

Vietnam Cybersecurity Market Segmentation

When it comes to the major sources for solutions in the country, foreign companies have been dominating the ecosystem due to their global brand name and superior technology. However, the local government has been focused to enhance local solution development capabilities in the country. The major end users for cybersecurity solutions in the country include the banking and finance industry, the public sector/government, aerospace and defense and retail companies. Banks and government entities face a large proportion of the country’s cyber attacks and hence it becomes more important for enterprises in these sectors to secure their databases and information systems. Standalone products such as firewall, antivirus, Intrusion Prevention System/Intrusion Detection Systems are majorly demanded by enterprises in the country. With the mandatory requirements for government departments to maintain a 4-tier cybersecurity infrastructure, Security Operations Center is one such solution that has been gaining increasing traction as the solution ensures two key levels of the 4-tier infrastructure system mandated.

Competitive Landscape of Vietnam Cybersecurity Market

The cybersecurity market in Vietnam is moderately fragmented with the top 5 players holding 47% share of the market in terms of revenues. While foreign products still dominate the solution ecosystem in the country, local products are now an option in ~90% of the product categories of cybersecurity in Vietnam.

Vietnam Cybersecurity Market Future Outlook & Projections

The cybersecurity market is expected to grow at a CAGR of 16.9% over the period 2019 to 2025. Increasing adoption of cybersecurity solutions by SMEs and other enterprise segments is expected to drive market growth. New kinds of cyber threats such as Advanced Persistent Threats and IoT device attacks will encourage cybersecurity organizations in the country to enhance product capabilities and develop technologically advanced and efficient products. The modernization of technology in industries such as Banking, Healthcare and E-Commerce will also drive increased adoption of information security solutions.

Key Segments Covered:-

By Solution Source (Foreign/Imported Solutions and Domestic Solutions).

By End User (Banking and Finance, Government/Public Sector, Aerospace & Defense, IT & Telecom, Retail & E-Commerce, Healthcare and others).

By Solution type (Standalone Products, Managed Security Services and Professional Services).

By Standalone Product Type (Firewall, Antivirus, End Point Security, IPS/IPD, SIEM, Security Gateways and Others).

By Managed Security Services Type (SOC, Network Security, Application Security, Email Security, Cloud Security, Mobile Security, Content Security and Others).

By Professional Services Type (Penetration Testing, Security Audit, Cybersecurity Consulting, Security Training and Others.

Companies Covered:-

Viettel Cyber Security

FPT Information System

CyStack

CMC Cybersecurity

Bkav

Fortinet

KasperSky

Juniper Networks

Cisco

Check Point

Trend Micro

Key Target Audience:-

Cybersecurity companies

Banks, Healthcare companies, Retail Companies, E-commerce Platforms, Government Departments

Government Associations

Industry Associations

Time Period Captured in the Report:-

Historical Period: 2014-2019

Forecast Period: 2020-2025

Key Topics Covered in the Report:-

End User Analysis

Governmental Role in Solving the Cybersecurity Problem

Operating Models for Information Security Companies

Vietnam’s standing in the ASEAN Cybersecurity Ecosystem

Vietnam’s Cybersecurity Product Ecosystem

Role of Cutting-Edge Technologies in Developing Cybersecurity Solutions

Tender Process for Partnering with a Cybersecurity Firm

Challenges Faced by Service Providers in the Industry

Mapping the Impact of the Pandemic on Cybersecurity in Vietnam

Interview with Chief Strategy Officer at Viettel Cyber Security

Opportunities in the Vietnam Cybersecurity Ecosystem

License Requirements for New Cybersecurity Businesses in Vietnam

Launching a Cybersecurity Solution in the Vietnam Market

For More Information on the research report, refer to below link:

Vietnam Cybersecurity Market

Related Reports:-

Philippines Electronic Security Market Outlook to 2024-Emergence of Technology Integrated Electronic System and Growth in Infrastructure Projects

Europe Cyber Security Industry Outlook to 2023 – By Solutions (Firewall, Intrusion detection system, Antivirus, Identity and Access Management, Encryption, Data Loss Prevention, UTM, Disaster Recovery and Others (IoT Devices), By Industry Verticals (Banking & Finance, Government, IT & Telecom, Retail, Healthcare, Energy & Power, Private User and Others), By Security Deployed (Network Security, Application Security, End-Point Security, Mobile Security, Content Security and Cloud Security)

Middle East Cyber Security Market Outlook to 2022 – By Solutions (Firewall, Intrusion Detection System, Antivirus, Identity and Access Management, Encryption, Data Loss Prevention, Unidentified Threat Management, Disaster Recovery) and By Region

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

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