Vietnam Cyber Security Industry Outlook to 2023: Ken Research
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)” provides a comprehensive analysis of cyber security services and solutions in Vietnam. The report focuses on overall market size for cyber security services and solutions in Vietnam; Vietnam cyber security market segmentation by Type of Solutions (Firewall & UTM, Intrusion Detection System, Antivirus, Identity and Access Management, Encryption, Data Loss Prevention, Disaster Recovery and IoT Devices), By Type of Security (Network Security, Application Security, End-Point Security, Mobile & Wireless Security, Content Security and Cloud Security), By End Users (Banking & Finance, Government, IT & Telecom, Retail, Healthcare, Energy & Power, Private User and Others). The report also covers the overall comparative landscape, Major cyber attacks in Vietnam, Snapshot of cyber security market in ASEAN countries, trends and growth drivers, issues and challenge, decision making parameters, technologies used in the cyber security market, SWOT analysis and Government regulations in the market. The report concludes with future projections for all the segments described above and analyst recommendations highlighting the major opportunities and cautions for the Vietnam cyber security industry.
Vietnam Cyber Security Market Overview and Size
The cyber security market in Vietnam is at a growth stage and has huge potential to grow in the country. The industry has showcased tremendous growth in terms of revenues. The growth isn’t only because of increasing cyber crimes in the country, but also because of the development in the economy and increasing digital presence across different sectors such as IT, Banking, Education, Small and Medium Enterprises and several others. The growing internet penetration in the country was observed contributing to the cyber security market with the growing cyber crimes on internet.
Vietnam Cyber Security Market Segmentations
By Imported and Domestic Security Services and Solutions: The Imported Services & Solutions dominated the cyber security market in Vietnam during 2018 owing to limited solutions offered by domestic companies present in Vietnam. It was witnessed that, the Vietnamese business enterprises and the home users prefer buying security solutions from the international companies and the domestic companies are highly preferred in the case of cyber security services.
By Type of Solutions (Firewall & UTM, Intrusion Detection System, Antivirus, Identity and Access Management, Encryption, Data Loss Prevention, Disaster Recovery and IoT Devices): The Firewall & Unified Threat management (UTM) captured the majority of the market share in terms of revenue during 2018. UTM is the most common security solutions and includes Firewall, Antivirus, Intrusion Detection system, Email Security, Web Content security and others. The remaining market share was captured by Intrusion detection system, Antivirus, Identity and access management and other solutions during 2018.
By End Users (Banking & Finance, Government, IT & Telecom, Retail, Healthcare, Energy & Power, Private User and Others): Vietnam cyber security market during 2018 was majorly dominated by the Banking and the Financial services end user segment due to the high requirement of the security services and solutions for this industry as they deal with highly confidential user data and the monetary transactions. The remaining market share was captured by government, IT, retail, healthcare, energy& power, private users and other end users during 2018.
By Type of Security (Network Security, Application Security, End-Point Security, Mobile & Wireless Security, Content Security and Cloud Security): The network security is demanded by both the business enterprises and the home users. It captured the majority market share in terms of revenue in the Vietnam cyber security market during the year 2018. Network security is the most demanded security in Vietnam as it protects the network and data and includes solutions such as Firewall, Antivirus and many more. The remaining market share was captured by application security, end-point security, mobile & wireless security, content security and cloud security during the year 2018 in Vietnam.
Vietnam Cyber Security Competition Overview
Vietnam cyber security market was observed to be moderately fragmented in nature with the presence of both international as well as domestic players in the services and solutions segment. 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. The cyber security solution providers in Vietnam compete on the basis of cost of the security solutions, technological advancements, product offerings, supply chain management, after-sales services and number of clientele.
Vietnam Cyber Security Future Outlook and Projections
Over the forecast period 2019-2023, the Vietnam cyber security market is predicted to grow in terms of revenue owing to potential rise in the cyber crimes in the country. 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 few other factors. The trend is expected to stay the same in the near future and with introduction of new cyber security law by the Vietnamese government, investment in cyber security solutions and services is bound to increase.
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)
Identity and Access Management (IAM)
Data Loss Prevention (DLP)
By End User:-
Banking & Finance
IT & Telecom
Energy & Power
By Type of Security:-
End- Point Security
Mobile & Wireless Security
Key Target Audience:-
Banks and Financial Institutions
Hospitals and Clinics
Cloud Computing Services Companies
Time Period Captured in the Report:-
Historical Period – 2013-2018
Forecast Period – 2019-2023E
Major Companies Covered:-
Check Point Software Technologies Ltd
Hewlett Packard Enterprise Development LP
Vietnam Security Network (VSEC)
Vietnam Cyberspace Security technology (VNCS)
Key Topics Covered in the Report:-
Major Cyber Attacks in Vietnam
Snapshot of Cyber Security Market in ASEAN Countries
Trends and Growth Drivers in Vietnam Cyber Security Market
Vietnam Cyber Security Market
Introduction to Vietnam Cyber Security Market
Value Chain Analysis of Vietnam Cyber Security Market
Vietnam Cyber Security Market Size, 2013-2018
Vietnam Cyber Security Market Segmentation, 2013-2018
Competition Landscape in the Vietnam Cyber Security Market
Vietnam Cyber Security Market Future Outlook and Projections, 2018-2023E
Issues and Challenges in Vietnam Cyber Security Market
Decision Making Parameters in Hiring a Cyber Security Company in Vietnam
Pain Points faced by the end users after purchasing a security Solution in Vietnam
Technologies used in the Cyber Security Market
SWOT Analysis of Vietnam Cyber Security Market
Government Regulations in the Vietnam Cyber Security Market
Company Profiles of Major Players in Vietnam Cyber Security Market
For more information, refer to below link:-
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
Ankur Gupta, Head Marketing & Communications