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Base Year
Historical Year
Forecast Year
The Vietnam cyber security market is projected to grow at a CAGR of 12.50% between 2024 and 2032.
The rising threats of ransomware and phishing attacks, increased adoption of cloud services, and the expansion of the IT infrastructure are some of the prominent market drivers. Vietnam's rapidly growing IT infrastructure through governmental initiatives, which includes the increase in number of data centres and the implementation of 5G networks, requires strong cybersecurity protocols to ensure the reliability of essential services. All of these heavily contribute towards Vietnam cyber security market revenue.
The burgeoning popularity of the zero-trust security models is growing in the country due to its recognition that threats can originate from both internal and external sources. This model has emphasised the importance of thoroughly verifying users and devices to reduce the risk of unauthorised access and data breaches. Moreover, as several organizations look to outsource their security demands to expert providers, the demand for managed security services is increasing. Managed security service providers (MSSPs) offer a comprehensive suite of services, such as threat monitoring, incident response, and compliance management and therefore boost the cyber security demand growth in Vietnam.
Growing awareness of cybersecurity risks, the development of cybersecurity ecosystems within the country, and increased adoption of AI and ML are the key Vietnam cyber security market dynamics and trends.
August 2024
During the 14th India-Vietnam Defence Policy Dialogue, co-chaired by India's Defence Secretary Giridhar Aramane and Vietnam’s Senior Lieutenant General Hoang Xuan Chien, India proposed expanding the defence cooperation with Vietnam into 5 areas including cyber security and information security.
April 12, 2024
The damage from cyberattacks amounts to significant financial losses, with phishing, scam calls and data breaches proliferating. Hence, the Prime Minister of Vietnam, Pham Minh Chinh, issued a directive, urging ministries, sectoral bodies and local government agencies to conduct a thorough review of the country’s cybersecurity landscape.
April 2024
India’s Whizhack Technologies signed a deal with a leading Vietnamese Cyber Security Total Solutions and Logistics Limited. Total Solutions and Logistics specialises in electronic manufacturing systems for providing cybersecurity training, products and managed services to various IT and manufacturing industries in Vietnam.
January 2024
As per Vietnam cyber security industry analysis, the Department of Cyber Security and High-Tech Crime Prevention and Control at the Ministry of Public Security (MPS) and UN Women organised a workshop in Hanoi, to promote dialogue and seek actionable solutions in the realm of cybersecurity, ensuring the safety and privacy of women and girls, including women leaders and women’s organizations.
Increased adoption of AI and ML
Artificial Intelligence (AI) and Machine Learning (ML) are rapidly increasing in popularity across the globe. These AI and ML algorithms can analyse large datasets to detect anomalies and potential threats, while AI-driven systems can automate tasks such as blocking malicious traffic. Additionally, AI provides valuable insights into security posture and trends, enhancing overall security analytics.
Growing awareness of cybersecurity risks
Government and industry initiatives are raising awareness of cyber threats among the general public and businesses through public awareness campaigns. Compliance with data privacy regulations often requires organizations to implement specific cybersecurity measures for which regulatory mandates are issued. Additionally, organizations are developing incident response plans to reduce the impact caused by cyberattacks, which will likely influence the cyber security demand forecast in the country.
Development of cybersecurity ecosystems within the country
The Vietnamese government is actively investing in cybersecurity research, education, and infrastructure. On August 10, 2022, the Prime Minister approved the ‘Strategy for National Cyber Safety, Security, Active Responses to Challenges from Cyberspace’ until the year 2025 and Vision to 2030. Coupled with local startups that are developing innovative cybersecurity solutions, now universities and training institutions are also offering cybersecurity training and education programs.
Robust growth of cloud computing and IoT technologies
The key trend of Vietnam cyber security market is the increasing number of IoT-enabled devices which is making it easier for hackers to attack networks. This has forced companies to improve their cybersecurity to stay safe. Many companies are also moving their data to the cloud, and adopting cloud computing often using a mix of different cloud service providers. This means they need better cybersecurity to protect their data from hackers who might try to steal information or steal people's identities.
“Vietnam Cyber Security Market Report and Forecast 2024-2032” offers a detailed analysis of the market based on the following segments:
Market Breakup by Offering
Market Breakup by Deployment Mode
Market Breakup by Organisation Size
Market Breakup by Security
Market Breakup by Industry Vertical
Market Breakup by Region
Based on industry vertical, the market is divided into BFSI, government, healthcare and life sciences, aerospace and defence, and manufacturing, among others. The BFSI sector holds a prominent market share due to the sensitive financial data as well as the large number of transactions it handles on a regular basis, which makes it sensitive to cyber-attacks. To deal with this, there is a high demand for continuous monitoring and security protocols that can maintain a robust security infrastructure in banks and other financial institutes.
The market players are forming partnerships with local as well as international firms to meet the evolving regulatory landscape.
REPORT FEATURES | DETAILS |
Base Year | 2023 |
Historical Period | 2018-2023 |
Forecast Period | 2024-2032 |
Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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Breakup by Offering |
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Breakup by Deployment Mode |
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Breakup by Organisation Size |
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Breakup by Security |
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Breakup by Industry Vertical |
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Breakup by Region |
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Market Dynamics |
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Competitive Landscape |
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Companies Covered |
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Vietnam Cyber Security Market Size
Vietnam Cyber Security Market Growth
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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The market is estimated to grow at a CAGR of 12.50% between 2024 and 2032.
The market is being driven due to rising threats of ransomware and phishing attacks, increased adoption of cloud services, and the expansion of the IT infrastructure.
The key trends aiding the market include the burgeoning popularity of the zero-trust security models and the rising demand for outsourcing security demands.
Regions considered in the market are Southeast, Red River Delta, Mekong River Delta, and South Central Coast, among others.
Based on organisation size, market segmentations include large enterprises and small and medium enterprise (SMEs).
Various industry verticals are BFSI, government, healthcare and life sciences, aerospace and defence, and manufacturing, among others.
The major players in the market are IBM Corporation, Microsoft Corp., Cisco Systems Inc., Amazon Web Services, Inc., Oracle Corporation¸CMC Corp., Dell Inc., FPT Corp., Fortinet Inc., and HPT Vietnam Corporation, among others.
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Vietnam
193/26/4 St.no.6, Ward Binh Hung Hoa, Binh Tan District, Ho Chi Minh City
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United States (Head Office)
30 North Gould Street, Sheridan, WY 82801
+1-415-325-5166
Australia
63 Fiona Drive, Tamworth, NSW
+61-448-061-727
India
C130 Sector 2 Noida, Uttar Pradesh 201301
+91-858-608-1494
Philippines
40th Floor, PBCom Tower, 6795 Ayala Avenue Cor V.A Rufino St. Makati City, 1226.
+63-287-899-028, +63-967-048-3306
United Kingdom
6 Gardner Place, Becketts Close, Feltham TW14 0BX, Greater London
+44-753-713-2163
Vietnam
193/26/4 St.no.6, Ward Binh Hung Hoa, Binh Tan District, Ho Chi Minh City
+84-865-399-124
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