How the Vietnam Cyber Security Market is Positioned?
The cyber security market in Vietnam is currently at its growth stage. The cyber security market has been categorized into two sub-categories which includes security and solutions. In terms of revenue, Vietnam cyber security market size was witnessed to increase from USD ~ million in the year 2013 to USD ~ million in 2018, therefore showcasing a CAGR of ~% over the review period 2013-2018. Rising cyber crimes in the various sectors of Vietnam and increasing internet penetration rate has been complimenting the size of this industry. In accordance with Vietnam Computer Emergency Response Center (VNCERT), the number of cyber attacks, that the country witnessed in the year 2018 was 8,319. Coupled with the growth in Retail and ICT Sector in Vietnam, the market has witnessed an increase in the cyber crimes resulting in a significant growth in the demand for Cyber Security Solutions. The market also witnessed an increase in the adoption of technologies such as IOT, BYOD and others; hence, increased exposure to cyber threats.
Expanding services portfolio of major players and aggressive marketing strategies have helped the industry revenue to grow at a CAGR of ~% during the review period. Competition within the Vietnam cyber security market was observed to be mildly fragmented with the presence of major players such as Juniper Network, Cisco Systems, Checkpoint Software Technologies Ltd, Symantec Corporation, Hewlett Packard Enterprise, Kaspersky, Fortinet, CMC Corporation and others. The Vietnam cyber security market was dominated by the international companies with a revenue share of ~% in the year 2018.
Vietnam Cyber Security Market Segmentations
By Imported & Domestic Services and Solution
The imported services and solutions in the Vietnam cyber security market clearly dominated as the market leader by capturing a massive revenue share of ~% in the year 2018 owing to increased penetration of international cyber security companies in Vietnam such as Juniper Network, Cisco, Symantec Corporation, Kaspersky and others. They were followed by the domestic services and solutions with respective revenue shares of ~% in the Vietnam cyber security market in 2018.
By Type of Solutions
The Firewall and Unified Threat Management (UTM) Solution established themselves as the market leader by capturing a massive revenue share of ~% in the year 2018 owing to the benefit of integration of varied security solutions under UTM, providing a multiple layer protection throughout the consumer Systems. The companies holding the highest share in terms of highest firewall solutions sold in Vietnam includes Cisco, Fortiniet and Several other Companies.
By End Users
The Banking & Finance End user segment within Vietnam was observed to dominate the country’s cyber security market by capturing a massive revenue share of ~%, in the year 2018 owing to the high vulnerability of the banking sector to the cyber threats given the nature of data that they hold which is highly confidential. In accordance with the National Cyber Security Center under the Ministry of Information and Communication (MIC), there were 10,220 cyber attacks on Banking Information System in Vietnam in the year 2018.
By Type of Security
Network security segment within Vietnam was observed to dominate the country’s cyber security market by capturing a massive revenue share of ~% in the year 2018 owing to the increased demand for the solutions such as Firewall, UTM, Antivirus and few others in Vietnam. Network security was followed by Application security with a revenue share of ~% in the Vietnam cyber security market.
Lastly, the End-Point, Mobile & Wireless, Content and Cloud Security segments collectively captured the remaining ~% revenue share in the Vietnam cyber security market in the year 2018.
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 this report:-
Vietnam Cyber Security Industry
Vietnam Cyber Security Market
Vietnam Cryptomining Malware Market Analysis
Trend Micro Security Solutions Vietnam
Vietnam Telecom Cyber Security Market
Vietnam Retail Cyber Security Market
Vietnam IT Security Market
Vietnam Data Loss Prevention Market
Vietnam Disaster Recovery Market
Vietnam IOT Devices Security Market
Vietnam Antivirus Market Analysis
Vietnam Internet Security Market
Vietnam Home Users Market
Vietnam Network 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