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.
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:
Related Reports:-
