Vietnam Cyber Security Market By Security Type (Network Security, Application Security, Cloud Security, Endpoint Security, Content Security, Others), By Solution Type (Firewall, Antivirus and Anti-Malware, Risk and Compliance Management, Identity and Access Management, Unified Threat Management, Data Loss Prevention, Encryption and Decryption, Intrusion Detection/Prevention System, Infrastructure Security, Others), By Deployment Mode (Cloud, On-premise), By End-User Industry (BFSI, IT and Telecom, Retail, Government and Defense, Healthcare, Education Technology, Others), By Region, Competition Forecast & Opportunities, 2016-2026

Vietnam Cyber Security market was valued at USD0.142 billion in 2020 and is projected to grow around USD0.350 billion by 2026 owing to the proliferation of technologies such as cloud-based systems, rising big data demand and increasing usage of internet of things and social media. However, growth in the industry was hampered in the year 2020, owing primarily to lockdown in the country to prevent COVID-19 spread, that resulted in a halt in economic activity, but the demand recovered after the second quarter.

Cybersecurity is the practice of protecting critical systems and sensitive information from digital attacks. Cybersecurity measures are designed to combat threats against networked systems and applications, whether those threats originate from inside or outside of an organization. It is basically the practice of defending computers, servers, mobile devices, electronic systems, networks, and data from malicious attacks. It's also known as information technology security or electronic information security.

Increased Demand for Bring Your Own Device Policy to Drive the Market Growth

Bring your own device (BYOD) is an IT policy that allows and encourages employees to use their personal devices, such as smartphones and tablets, within the workplace. This enables employees to access privileged company information and applications, necessitating accurate and real-time data synchronization, driving the need and demand for mobile middleware deployment in mobile device applications. With the growing adoption of BYOD by organizations and enterprises for increased productivity and innovation, cost savings, increased mobility, and employee satisfaction, there has been an increase in the risk of cybercriminals gaining access to intellectual property through mobile devices. Furthermore, using personal devices on an organization's network makes it simple for cybercriminals to gain access to the company's network and data center, posing high vulnerability issues to the organization. These cybercriminals include hackers, competitors attempting to steal proprietary data from companies, disgruntled employees, international hackers targeting federal and government agencies, etc. With the growth of the BYOD market, concerns about mobile device security, data breach security, mobile data security, and mobile application security are expected to rise, driving investment in the Vietnam Cybersecurity Market in the coming years.

Increased Use of Cloud-based Systems to Boost the Growth

The expansion of the IT sector in Vietnam has enticed many foreign cloud service giants, including Google, Amazon Web Services (AWS), and Alibaba, to enter and expand in the market. The public sector is transitioning to cloud-based business models, and the COVID-19 pandemic has accelerated that transition, increasing the need for data security. The rising popularity of cloud computing services, owing to their low cost, high performance, and ease of use is fueling the growth of the Vietnam Cybersecurity Market.

Use of Big Data Analytics to Positively Influence the Growth

Over the last few years, there has been an increase in the number of cyber-attacks across Vietnam, which has compromised people's personal data and resulted in the loss of financial and proprietary information. Given the number of cyber-attacks and data breaches that occur worldwide, there is a significant demand for Security Information and Event Management (SIEM) technologies and services. SIEM collects real-time security events from various events and data sources to detect threats and generate security incident responses. Previously, large organizations concentrated on threat prevention processes. Based on previous patterns, the organizations were able to detect a cyber-attack. However, continuous innovation in cyberspace highlights the importance of studying and analyzing cyber-attack trends to assist governments and organizations in developing appropriate cyber defenses. As a result, big data is expected to play a pivotal role in the cyber security market, with a significant impact on various cyber security solutions such as network monitoring, fraud detection, identity, and access management, and so on. With the increased adoption of big data cyber analytics by enterprises, the Vietnam Cybersecurity Market is expected to grow in the coming years.

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Market Segmentation

The Vietnam Cyber Security market can be segmented based on Security Type, Solution Type, Deployment Mode, End-User Industry, region, company. Based on Security Type, the market can be segmented into Network Security, Application Security, Cloud Security, Endpoint Security, Content Security, Others. In terms of Solution Type, the market is segmented into Firewall, Antivirus and Anti-Malware, Risk and Compliance Management, Identity and Access Management, Unified Threat Management, Data Loss Prevention, Encryption and Decryption, Intrusion Detection/Prevention System, Infrastructure Security, Others. Based on the Deployment Mode, the market is segmented into Cloud, On-premise. Based on End-User Industry, the market is segmented into BFSI, IT & Telecom, Retail, Government and Defense, Healthcare, Education Technology, Others. The market analysis also studies the regional segmentation to devise regional market segmentation, divided among Northern Vietnam, Southern Vietnam and Central Vietnam.

Company Profiles

Viettel Cyber Security Company, FPT Corporation, CMC Corporation, IBM Vietnam Company Ltd., HPT Vietnam Corporation, Microsoft Vietnam Limited Liability Company, Amazon Web Services Vietnam Company Limited, SAP (Asia) Vietnam Co. Ltd., Vietnam Posts and Telecommunications Group, etc. are the major players operating in the Vietnam Cyber Security market.

Report Scope:

In this report, the Vietnam Cyber Security market has been segmented into the following categories, in addition to the industry trends which have also been detailed below:

• Vietnam Cyber Security Market, By Security Type:
• Network Security
• Application Security
• Cloud Security
• Endpoint Security
• Content Security
• Others

·         Vietnam Cyber Security Market, By Solution Type:

• Firewall
• Antivirus and Anti-Malware
• Risk and Compliance Management
• Identity and Access Management
• Unified Threat Management
• Data Loss Prevention
• Encryption and Decryption
• Intrusion Detection/Prevention System
• Infrastructure Security
• Others
• Vietnam Cyber Security Market, By Deployment Mode:
• Cloud
• On-premise
• Vietnam Cyber Security Market, By End-User Industry:
• BFSI
• IT & Telecom
• Retail
• Government and Defense
• Healthcare
• Education Technology
• Others
• Vietnam Cyber Security Market, By Region:
• Northern Vietnam
• Southern Vietnam
• Central Vietnam

Competitive Landscape

Company Profiles: Detailed analysis of the major companies present in the Vietnam Cyber Security market.

Available Customizations:

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Company Information

• Detailed analysis and profiling of additional market players (up to five).

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