Vietnam cybersecurity
market was valued at USD 187.74 million in 2022 and is anticipated to project
robust growth in the forecast period with a CAGR of 18.42%, owing to government initiatives, increased attack
vectors, artificial-intelligence attacks, among others, across the country. Protecting sensitive information and
important systems from online threats is the discipline of cybersecurity.
Threats to networked systems and applications can come from both within and
outside of an organisation, which is why cybersecurity measures are created to
counteract them. It primarily entails protecting networks, computers, servers,
mobile devices, electronic systems, and data against harmful assaults.
electronic information security and information technology security are other
names of the same.
Increasing Demand for Bring Your Own Device
(BYOD)
Bring your own technology (BYOD) is an IT
strategy that permits and promotes staff members' usage of their own mobile
devices (such as smartphones and tablets) at work. As a result, reliable and
real-time data synchronisation is required for employees to access sensitive
corporate data and applications, which increases the demand for mobile
middleware implementation in mobile device apps. The risk of hackers stealing
mobile devices to access the intellectual property has grown as BYOD is
increasingly being used by businesses and organisations for greater
productivity and innovation, cost savings, increased mobility, and employee
happiness. Additionally, having personal devices on a commercial network makes
it easier for hackers to access the network and data centre of the firm,
creating serious vulnerability risks for the corporation. These cybercriminals
include multinational hackers that target federal and government institutions,
rivals who try to steal confidential information from businesses, displeased workers,
and more. Concerns about mobile device security, data breach security, mobile
data security, and mobile application security are anticipated to grow as the
BYOD market expands, spurring investment in the Vietnam cybersecurity market in
the upcoming years.
Rise in Demand for Big Data Analytics
Vietnam has experienced a surge in cyberattacks over the past several
years, which has compromised personal data and led to the loss of financial and
confidential information. There is a high demand for Security Information and
Event Management (SIEM) technology and services due to the prevalence of
cyberattacks and data breaches, globally. To identify threats and provide
security incident responses, SIEM gathers real-time security events from
several events and data sources. Large corporations formerly focused on threat
prevention procedures. The companies were able to identify a cyber-attack based
on historical patterns. However, ongoing innovation in the cybersphere emphasizes
the significance of researching and examining cyber-attack patterns to help
governments and corporations create effective cyber defenses. Big data is,
therefore, anticipated to have a substantial influence on a variety of
cybersecurity solutions, including network monitoring, fraud detection,
identity and access management, and others. In the upcoming years, the Vietnam
Cybersecurity Market is anticipated to expand due to the rising industry usage
of big data cyber analytics.
Growing Usage of the Internet of Things (IoT)
In Vietnam, a number of industries have
quickly embraced Internet of Things (IoT). Despite significant IoT adoption by
government, this technology is still in its infancy. The development of IoT market has also received the attention of the government,
along with businesses and science and technology organizations in the recent
years. . In addition, the trend
of connected devices, rising smartphone, smart device, and internet user
penetration, etc., have been catching on in Vietnam. As automation and
Internet-connected devices expand and data breaches become more frequent, the
Vietnam Cybersecurity Market will grow as a result.