Cybersecurity Market Revenues Growing at CAGR of 17.4%, Will Vietnam able to sustain it? : Ken Research

About 66% of Vietnam’s 70k+ websites are estimated to be infected with viruses/malware. The government is playing a vibrant role in propagating the importance of having a secure cybersecurity infrastructure in organizations.

1. Cyberattacks have a huge financial impact on Vietnam’s economy

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• 3% Companies in Vietnam that faced 24 hrs. or more of downtime after most severe breach; Global figure: 4%

• 2% Proportion of computers affected by dangerous viruses in Vietnam, 3x the global average

• Vietnam’s global rank 6th in number of local cyber threats

• 75 Mn # of Internet-borne cyber threats in Vietnam in 2019

2. Phishing majorly affects all the computer systems in Vietnam, thus boosting the market.

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• 7% of Mobiles infected with Malware in 2022 only.
• 7% of Attacks by Crypto miners in the year 2022.
• 5% of Users affected with Financial Malware Attacks and around 12% of Computers infected by Malware.
• 0% of organizations in Vietnam receive up-to 5,000 security alerts daily, while 29.0% 5receive more than 50,000 daily.

3. Why Cyber Threats in Vietnam are rising at unprecedented rates?

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• Rise in number of devices available per person, weak organizational information security infrastructure.
• Political Disputes with neighbouring China, downloading of Themes/Plug-ins from Suspicious Sites and outdated Website versions & operating systems.
• Insufficient Human Resource Potential: Vietnam faces a challenge of limited number of cyber experts in the country, because of which the product ecosystem is dominated by foreign enterprises in cybersecurity
• Limited Cybersecurity Awareness: Lack of technical knowledge about information security & its importance is one that plagues organizations in Vietnam
• Budget & Maintenance: Allocation of funds towards information security is always a challenge in organizations in Vietnam.

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