“The constantly
improving internet infrastructure in 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,
cyber security equipment and software has positively impacted the cyber
security 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 cyber security market of Vietnam
can expand their market share and increase revenue generated by adopting
technological advancements, increase in the investments in cyber security
market, enhancing the physical infrastructure in the sector, developing cyber
security manpower base and encouraging home grown talents and grabbing the opportunities.
The market is expected to register a positive CAGR of 14.8% in terms of revenue
during the forecast period 2018P-2023E.
Increasing Internet Penetration: Over the years, Vietnam has witnessed an increase in the number
of internet users along with the increase in the social media users who are
always at the risk of cyber threats in Vietnam. According to 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 user’s data and systems. This has augmented the
growth of cyber security market in Vietnam.
Cyber Security
Regulations in Vietnam: Vietnam faces a lack of cyber
security regulations to manage the cyberspace of the country. The first
initiative in the cyber security market in Vietnam was in the year 2010 with a
dedicated government roadmap. Prior to this government roadmap, 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 cyber security law is of utmost importance for Vietnam
in current scenario.
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 cyber security companies looking to tap this
market. Some of the major cyber crimes that the country witness during 2018
were crypto mining malware, ransom ware and others. Almost 60% of network
system of agencies and enterprises were infected with crypto mining malware
during the year 2018. Vietnam being a price-sensitive economy, the domestic cyber
security 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 future. In addition to this, companies in the cyber security
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
CyRadar
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
