Evolving Cyber Threat Ecosystem and Increased Focus on Cybersecurity by SMEs will lead to growth in Information Security Ecosystem in Vietnam: Ken Research

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• India - English

GURUGRAM, India, April 19, 2021 /PRNewswire/ --

Key Findings

• The COVID-19 situation aggravated the vulnerability of the country to cyber threats as a lot of employees accessed malicious links while operating in remote working situations. 
• Organizations and public enterprises have increased their investment in information security systems on the back of increased awareness towards the importance of data security. Companies are also expected to increase the appointment of IT professionals in dedicated cybersecurity roles.
• Frequent cloud migration is also expected to improve the demand for services such as Cloud Security, as organizations look to secure their servers and databases.

Advanced Cybersecurity Solutions expected to gain prominence- With the threat of new and sophisticated cyber threats expected to go up in the future, advanced solutions such as Security Investigation and Event Management, Security Orchestration, Automation, and Response and Security Operations Center will be gaining more adoption in the future.

Vietnam's Improving Position in Global Cyberspace: A strong local product infrastructure, regulatory infrastructure in place and a high demand from end users would be pushing Vietnam's place in global cybersecurity rankings and improving the country's position in global geo-politics as well. Currently ranking at 50 in ITU's Global Cybersecurity Rankings 2018, Vietnam aims to enter the group of top 40 countries by 2025 and the top 30 countries by 2030. The Ministry of Information and Communications in the country issued the national digital transformation program to achieve the goal

Consolidated Solutions expected to gain popularity: With a large segment of the end user enterprises and SMEs sourcing cybersecurity solutions from 10+ companies and receiving lot of threats alerts, the ecosystem would adapt towards including a consolidated product solution encompassing threat detection, analysis, response and mitigation. Hence, companies would focus upon developing consolidated solutions in the future.

Analysts at Ken Research in their latest publication "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)" observed that Vietnam is destined to improve its position in the global cybersecurity infrastructure rankings, in the future. The government has put in place a strong institutional framework to regulate threats, manage information security operations and promote local collaboration in the field of information security. Technology enhancement will also impact the market growth positively in the future. Market revenues are expected to register a CAGR of 16.9% during the period of 2019 to 2025.

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
• Vietnam Cyber Security Market
• Government laws Cybersecurity Market Vietnam
• Cybersecurity Law Vietnam
• ASEAN Cybersecurity Vietnam
• Vietnam Cybersecurity Market Size
• Local Product Ecosystem Vietnam Cybersecurity
• Domestic Product Ecosystem Vietnam Cybersecurity
• Domestic Players Vietnam Cybersecurity
• International Players Vietnam Cybersecurity
• Cyber Threats Vietnam
• Major Cyber Attacks Vietnam
• Regulations Cybersecurity Vietnam
• End Users Cybersecurity Vietnam

For more information on the research report, refer to below link:

Vietnam Cybersecurity Market Outlook to 2025

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.

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Ken Research
Ankur Gupta
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SOURCE Ken Research