Vietnam Cybersecurity Market Outlook to 2025

By Solution Source (Foreign/Imported Solutions and Domestic Solutions), By End User (Banking and Finance, Government/Public Sector, Aerospace & Defense, IT & Telecom, Retail & E-Commerce, Healthcare and others), By Solution type (Standalone Products, Managed Security Services and Professional Services), By Standalone Product Type (Firewall, Antivirus, End Point Security, IPS/IPD, SIEM, Security Gateways and Others), By Managed Security Services Type (SOC, Network Security, Application Security, Email Security, Cloud Security, Mobile Security, Content Security and Others), By Professional Services Type (Penetration Testing, Security Audit, Cybersecurity Consulting, Security Training and Others)

Region:Asia

Author(s):Akshit Goel

Product Code:KR1050

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Published on

March 2021

Total pages

68

Table of Content

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About the Report

About the Report

The report titled “Vietnam Cybersecurity Market Outlook to 2025 By Solution Source (Foreign/Imported Solutions and Domestic Solutions), By End User (Banking and Finance, Government/Public Sector, Aerospace & Defense, IT & Telecom, Retail & E-Commerce, Healthcare and others), By Solution type (Standalone Products, Managed Security Services and Professional Services), By Standalone Product Type (Firewall, Antivirus, End Point Security, IPS/IPD, SIEM,  Security Gateways and Others), By Managed Security Services Type (SOC, Network Security, Application Security, Email Security, Cloud Security, Mobile Security, Content Security and Others), By Professional Services Type (Penetration Testing, Security Audit, Cybersecurity Consulting, Security Training and Others) provides a comprehensive analysis on the status quo of the cybersecurity industry in Vietnam. The report covers various aspects including the cyber threat landscape in the country along with the major cyber attacks, the role of the government in improving information security infrastructure, key entities in the supply and demand side, Vietnam’s cybersecurity ecosystem as compared with ASEAN counterparts, cybersecurity product ecosystem in the country,  end user trends, decision making parameters, impact of technologies on developing cybersecurity solutions, competition landscape, challenges faced on both the demand and supply end, impact of the pandemic, future landscape of the market and strategies for new entrants in the market.

Vietnam Cybersecurity Market Overview and Size:

Cybersecurity in Vietnam is in the growing phase with the presence of more than 80 companies licensed to distribute cybersecurity solutions in the country. Market revenues have been increasing at an impressive CAGR of 17.4% over 2014-2019, buoyed by governmental impetus to development in the local product infrastructure along with the rising cyber threat ecosystem in the country.  The number of domestic information security products in the country has also grown 2x from 2018, signaling the focus on local research and development. The growing end user cybersecurity requirement primarily from banks, government offices & departments, retail companies and healthcare entities has also supported a strong growth in revenues.

Vietnam Cybersecurity Market Segmentation

When it comes to the major sources for solutions in the country, foreign companies have been dominating the ecosystem due to their global brand name and superior technology. However, the local government has been focused to enhance local solution development capabilities in the country. The major end users for cybersecurity solutions in the country include the banking and finance industry, the public sector/government, aerospace and defense and retail companies. Banks and government entities face a large proportion of the country’s cyber attacks and hence it becomes more important for enterprises in these sectors to secure their databases and information systems. Standalone products such as firewall, antivirus, Intrusion Prevention System/Intrusion Detection Systems are majorly demanded by enterprises in the country. With the mandatory requirements for government departments to maintain a 4-tier cybersecurity infrastructure, Security Operations Center is one such solution that has been gaining increasing traction as the solution ensures two key levels of the 4-tier infrastructure system mandated.

Competitive Landscape of Vietnam Cybersecurity Market

The cybersecurity market in Vietnam is moderately fragmented with the top 5 players holding 47% share of the market in terms of revenues. While foreign products still dominate the solution ecosystem in the country, local products are now an option in ~90% of the product categories of cybersecurity in Vietnam.

Vietnam Cybersecurity Market Future Outlook & Projections

The cybersecurity market is expected to grow at a CAGR of 16.9% over the period 2019 to 2025. Increasing adoption of cybersecurity solutions by SMEs and other enterprise segments is expected to drive market growth. New kinds of cyber threats such as Advanced Persistent Threats and IoT device attacks will encourage cybersecurity organizations in the country to enhance product capabilities and develop technologically advanced and efficient products. The modernization of technology in industries such as Banking, Healthcare and E-Commerce will also drive increased adoption of information security solutions.


Key Segments Covered

  • By Solution Source (Foreign/Imported Solutions and Domestic Solutions)
  • By End User (Banking and Finance, Government/Public Sector, Aerospace & Defense, IT & Telecom, Retail & E-Commerce, Healthcare and others)
  • By Solution type (Standalone Products, Managed Security Services and Professional Services)
  • By Standalone Product Type (Firewall, Antivirus, End Point Security, IPS/IPD, SIEM,  Security Gateways and Others)
  • By Managed Security Services Type (SOC, Network Security, Application Security, Email Security, Cloud Security, Mobile Security, Content Security and Others)
  • By Professional Services Type (Penetration Testing, Security Audit, Cybersecurity Consulting, Security Training and Others


Companies Covered

  • Viettel Cyber Security
  • FPT Information System
  • CyStack
  • CMC Cybersecurity
  • Bkav
  • Fortinet
  • KasperSky
  • Juniper Networks
  • Cisco
  • Check Point
  • Trend Micro


Key Target Audience

  • Cybersecurity companies
  • Banks, Healthcare companies, Retail Companies, E-commerce Platforms, Government Departments
  • Government Associations
  • Industry Associations


Time Period Captured in the Report:-

  • Historical Period: 2014-2019
  • Forecast Period: 2020-2025


Key Topics Covered in the Report

  • End User Analysis
  • Governmental Role in Solving the Cybersecurity Problem
  • Operating Models for Information Security Companies
  • Vietnam’s Standing in the ASEAN Cybersecurity Ecosystem
  • Vietnam’s Cybersecurity Product Ecosystem
  • Role of Cutting-Edge Technologies in Developing Cybersecurity Solutions
  • Tender Process for Partnering with a Cybersecurity Firm
  • Challenges Faced by Service Providers in the Industry
  • Mapping the Impact of the Pandemic on Cybersecurity in Vietnam
  • Interview with Chief Strategy Officer at Viettel Cyber Security
  • Opportunities in the Vietnam Cybersecurity Ecosystem
  • License Requirements for New Cybersecurity Businesses in Vietnam
  • Launching a Cybersecurity Solution in the Vietnam Market

Products

Products


Key Segments Covered

  • By Solution Source (Foreign/Imported Solutions and Domestic Solutions)
  • By End User (Banking and Finance, Government/Public Sector, Aerospace & Defense, IT & Telecom, Retail & E-Commerce, Healthcare and others)
  • By Solution type (Standalone Products, Managed Security Services and Professional Services)
  • By Standalone Product Type (Firewall, Antivirus, End Point Security, IPS/IPD, SIEM,  Security Gateways and Others)
  • By Managed Security Services Type (SOC, Network Security, Application Security, Email Security, Cloud Security, Mobile Security, Content Security and Others)
  • By Professional Services Type (Penetration Testing, Security Audit, Cybersecurity Consulting, Security Training and Others


Key Target Audience

  • Cybersecurity companies
  • Banks, Healthcare companies, Retail Companies, E-commerce Platforms, Government Departments
  • Government Associations
  • Industry Associations


Time Period Captured in the Report:-

  • Historical Period: 2014-2019
  • Forecast Period: 2020-2025


Companies

Companies Covered

  • Viettel Cyber Security
  • FPT Information System
  • CyStack
  • CMC Cybersecurity
  • Bkav
  • Fortinet
  • KasperSky
  • Juniper Networks
  • Cisco
  • Check Point
  • Trend Micro

Table of Contents

Table of Contents

1. Introduction to Cybersecurity Landscape in Vietnam

1.1 Cyber Threat Situation in Vietnam

1.2 (Including Key Stats, Cyber Threats Growth Trend, Monetary Impact of Cyber Threats, Types of Cyber Threats and Devices Prone to Cyber Threats in Vietnam)

1.3 Major Cyber Attacks in the Country

1.4 Governmental Role in Solving the Cybersecurity Problem

1.5 Regulatory Framework for Information Security

1.6 Entities in the Cybersecurity Ecosystem: Supply Side

1.7 (Including International Cybersecurity Companies, Domestic/Local Cybersecurity Companies and System Integrators/Distributors/Resellers)

1.8 Operating Model for Information Security Companies in Vietnam: Supply Side

1.9 (Information Security Products and Services along with Margins)

1.10 Entities in the Cybersecurity Ecosystem: Demand Side (Including Major End User Industries, Market Share on basis of Revenues, Major End User Entities for Cybersecurity Solutions, Common Cyber Attacks and Cybersecurity Demand Growth Trends)

1.11 Scope of Cybersecurity Investment in Vietnam (Including Market Size and Market Trends)

1.12 Key Information Security Trends in Vietnam

1.13 SWOT Analysis of Cybersecurity Industry in Vietnam

1.14 Vietnam’s Standing in the ASEAN Cybersecurity Ecosystem

1.15 (Cross Comparison of Vietnam, Philippines, Indonesia, Malaysia, Thailand, Singapore on the Basis of Global Rank for Number of Local  Threats, Global Cybersecurity Index Ranking, market Strengths, Challenges to Growth, Strategy in Place, Cybersecurity Legislation, Governance Entities, International Cooperation, Awareness & Capacity Building)

2. Cybersecurity Solutions Overview

2.1 Taxonomy of Major Products and Services

2.2 (Professional Services, Detection/Prevention, Analysis/Response and End-to-End Solutions)

2.3 Vietnam’s Cybersecurity Product Ecosystem

2.4 Adoption of Cybersecurity Solutions in Vietnam

2.5  (Cybersecurity Solution Types by Revenues, 2019)

2.6 Role of Cutting Edge-Technologies in Developing Cybersecurity Solutions

2.7 (Artificial Intelligence, Blockchain, Big Data, Cloud Computing)

2.8 Application of Cutting Edge-Technologies in Cybersecurity

3. Cybersecurity End User Analysis

3.1 End User Trends: Cybersecurity

3.2 Decision-Making for Partnering with a Cybersecurity Solutions Provider

3.3 Tender Process for Partnering with a Cybersecurity Firm

3.4 Challenges Faced by End User Entities

4. Competition Analysis

4.1 Cybersecurity Competition Landscape in Vietnam

4.2 (Market Share of Major Players, Comparison of Major Domestic Players)

4.3 Cross Comparison of Major Cybersecurity Players in Vietnam

4.4 (Including Geographical Presence, Employee Size, Operational Parameters, Strengths and Weaknesses)

4.5 Company Profiles– Viettel Cyber Security, Bkav, FPT Information System, CMC Cybersecurity, CyStack

4.6 Cross Comparison of Major International Cybersecurity Players in Vietnam

4.7 (Including Vietnam Presence, Distributors/Resellers/SIs, Solutions Offered, Global Revenues and Market Share (Vietnam))

 4.8 Product Ecosystem of Major Players in the Market

4.9 (Major players in Penetration Testing, Security Operations Center, Endpoint Security, Antivirus and SIEM)

4.10 Challenges faced by Service Providers in the Industry

5. COVID-19 Impact

5.1 Mapping the Impact of the Pandemic on Cybersecurity in Vietnam

6. Future Landscape of Cybersecurity in Vietnam

 6.1 Vietnam Cybersecurity Market Future Outlook to 2025 (Including Future Market Size and Expected  Trends)

7. Industry Speaks

7.1 Viettel Cyber Security’s Chief Strategy Officer on Cybersecurity in Vietnam

8. Penetrating the Cybersecurity Ecosystem in Vietnam

8.1 Opportunities in the Vietnam Cybersecurity Ecosystem

8.2 License Requirements for New Cybersecurity Businesses in Vietnam

8.3 Launching a Cybersecurity Solution in the Vietnam Market

8.4 (Product Strategy, Solution Distribution Strategy, End User Strategy)

9. Appendix

9.1 End User Survey Results

9.2 Research Methodology

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