What Are The Major Challenges
In The Vietnam Cyber Security Market?
Lack of government regulations is posing one of the biggest challenges
in the Vietnam
cyber security market which has been one of the major reasons in
the exposure of the Vietnamese market to the cyber threats.
Vietnam is a very price-sensitive economy where people tend to opt for
low-priced products and services, hence, budget constraint is one of the
biggest challenges that the Small and the Medium Enterprises (SMEs) are facing
in Vietnam due to the expensive security services and solutions.
Various companies/enterprises in Vietnam avoid availing the cyber
security services for their operations because of the Budget constraints. Cyber
security requires both technological expertise and legal compliances which
though present, is in small proportions in the country. The country lacks in
digital and human resources skills, poor IT platform for digital transformation
and lack in the IT workforce which results as a challenge in the cyber security
market. Awareness and capacity for safe use of the internet by the majority of
Vietnamese users is still limited despite the series of laws on information
security and network security.
Competitive Landscape in
Vietnam Cyber Security Market
Competition within the Vietnam cyber security market was witnessed to
be moderately fragmented with the presence of both international as well as
domestic players of services and solutions in the country. Some of major
companies such as Juniper Network, Cisco, Check Point Software Technologies,
Symantec Corporation were witnessed to lead in terms of market share, followed
by Hewlett Packard Enterprise Development LP, Kaspersky, Fortinet, CMC
Corporation and others. Vietnam, cyber security companies are gaining momentum
in the country due to the increase in the awareness about the cyber crimes in
the country. With the development of the economy their exposure to the cyber
crimes has also seen an increase. Cyber security companies are adopting a
certain combination of strong distribution network and innovative mid-price
models along with added features to make a value-add to the end user. These
companies are offering multiple value added services such as advisory services,
implementation services, managed services, onsite technical services, remote
operational services and many more.
Vietnam Cyber Security Market
Future Outlook and Projections
Over the forecast period 2019-2023E, the Vietnam Cyber Security market
revenues are further anticipated to increase to USD ~ million by the year
2023E, thus showcasing a CAGR of ~%. Apart from the consistent growth in the
corporate market, the security services and solutions sales in the Vietnam was
observed to be driven by increase in the sophisticated cyber threats, digital
development of SMEs and digital penetration across other various industry
sectors. The trend is expected to stay the same in the near future. Owing to
the growth cyber crimes, Vietnam is on the edge of becoming a mid-tier cyber
crime hub which could open opportunities for many international companies
looking to tap the Vietnam cyber security markets. This will further augment
the growth of cyber security market in Vietnam and resulting in new product
offerings in the market. Other factors that would contribute in the growth of
this market include technological upgradation, increase in the awareness of the
cyber crimes in the country, and increased investment in cyber security
solutions by private and home users.
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
CyRadar
IBM
Corporation
Trend
Micro
Oracle
Wanders
Sophos
Sentry
Bay
AVG
Technologies
Fire
Eye
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
