How Cyber Threats are Growing in Vietnam
Vietnam is
regarded as one of the leading nations in the world when it comes to facing
cyber threats. Limited cybersecurity infrastructure, less focus on developing
cybersecurity systems and low budgets for expenditure are some of the reasons
why cyber threats are a problem in the country.
The country
has dealt with some several high-impact cyber attacks including the twin
airport cyber attacks in 2016. The amount of losses to the country in terms of
monetary impact has also been rising over the period. Phishing attacks are the
most common type in the country, with Deface and Malware also featuring in
prominent numbers.
The main
factors behind the rise in the cyber threat level in the country are: Rise in
number of devices available per person, weak organizational information
security infrastructure, and frequent download of themes/plug-ins from
suspicious sites and out-dated websites and operating systems.
The
government has taken it upon itself to improve the country’s cybersecurity
infrastructure through a host of legal, organizational and institutional steps.
The Ministry of Information and Communication in the country, is actively
promoting the development of the country’s cybersecurity
industry through mandating the adoption of cybersecurity solutions
for governmental enterprises and departments. It has also encouraged the
development of the local cybersecurity product infrastructure in the country by
developing partnerships and alliances with domestic companies.
The
government’s technological revolution by way of Smart Cities project and
e-Government has also expanded the scope of adoption for cybersecurity
solutions. Vietnam also takes part in ASEAN level cybersecurity development
drills, which aim to equip the country’s experts with latest knowledge about
cyber threats and provide an opportune scenario for cyber threat simulations.
By Solution Type (Standalone Products, Managed Security Services and Professional Services)
Standalone Products were identified to dominate the
solution types for Cybersecurity in Vietnam.
Segmentation by Professional
Services
By Professional Services (Penetration
Testing, Security Audit, Consulting, Security Training, Others (Data Mining Vulnerability
Assessment and more))
Penetration testing was identified as the professional
service most adopted by end users in the country, as they were unwilling to go
for a cybersecurity solution straight away without diagnosing the potential
cyber threats. Hence they invested in Penetration Testing and Security Audit
before going for a solution.
Cybersecurity in Vietnam: the
Demand Side
Cybersecurity Solutions in Vietnam are most demanded by the banking and Finance industry. This is because of the inherent nature of the industry as its dealing with money very regularly. Most of Vietnam’s National and International banks have cybersecurity systems in place but the Banking and Finance sector still faces the most cyber attacks in the ecosystem. Government data in the country is extremely sensitive and the country has recently been developing its stature in global geo-politics, hence it is important for government and government departments to secure their data and information.
CYbersecurity in Vietnam:
Supply Side
Cybersecurity
solutions in Vietnam are most prominently supplied by international companies
to firms. The primary reasons behind this are superior quality, better
usability and better results of these solutions. In addition, foreign products
use advanced technologies such as Artificial Intelligence, Machine Learning and
Data Science to develop the capabilities of the solution, in order to make
threat detection and removal more seamless and efficient.
Over the
period, there has been an upturn in the number of licenses granted to
cybersecurity firms in the country, with the government clearly laying out its
focus towards developing the cybersecurity ecosystem in the country. There have
also been steps taken to promote cybersecurity awareness and training among
professionals and companies, with enterprises encouraged to staff cybersecurity
professionals in their IT team.
Competition Landscape for Cybersecurity in
Vietnam
The competition landscape
for cybersecurity in Vietnam is dominated by foreign players that operate through
distributors, system integrators and resellers to expand their product reach.
Domestic companies account for a limited share in the market, but the adoption
of local products is quickly picking up pace, as the government’s measures to
develop the local product ecosystem bear fruit.
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
For More Information on the research
report, refer to below link:
Related Reports:-
Contact Us:-
Ken Research
Ankur Gupta, Head Marketing & Communications
Ankur@kenresearch.com
+91-9015378249
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