Dublin, Nov. 02, 2021 (GLOBE NEWSWIRE) -- The "Vietnam Cybersecurity Market, By Security Type (Network Security, Application Security, Cloud Security, Endpoint Security, Others), By Solution Type, By Deployment Mode, By End-User Industry, By Region, By Top 10 Provinces, Competition, Forecast & Opportunities, 2016-2026" report has been added to ResearchAndMarkets.com's offering.
The Vietnam Cybersecurity Market stood at USD142.12 million in 2020 and is forecast to grow at a CAGR of 16.52% until 2026
Growth in the Vietnam Cybersecurity Market is driven by the increasing digital economy. Also, the increasing popularity of 5G technology will create extensive development on the scale and speed of information technology.
The growing adoption of cloud computing services owing to their cost effectiveness, high performance, and accessibility will also enhance the Vietnam Cybersecurity Market.
Moreover, supportive government initiatives such as "Make in Vietnam" is anticipated to act as a catalyst in the growth of the Vietnam Cybersecurity Market. All government organizations in Vietnam have implemented the Security Operation Centre (SOC) that allows agencies to take the initiative in ensuring cybersecurity.
Based on security type, the market can be segmented into Network Security, Application Security, Cloud Security, Endpoint Security, Content Security & Others. The network security dominated the market in 2020 as these solutions empower enterprises to protect the integrity of the data from external points to manage network traffic more securely and efficiently.
Based on solution type, the market can be divided into Firewall, Antivirus & Anti-Malware, Risk & Compliance Management, Identity & Access Management, Unified Threat Management, Data Loss Prevention, Encryption & Decryption, Intrusion Detection/Prevention System, Infrastructure Security & Others. The Firewall segment dominated the market in 2020 as it provides protection from unauthorized access by outside cyberattacks. It protects the network as well as the device from malicious network traffic.
The market is segmented into BFSI, IT & Telecom, Retail, Government & Defense, Healthcare, Education Technology & Others based on end-user. The BFSI sector dominated the market in 2020 as major players in the Vietnam Cybersecurity Market are investing in developing technologies to protect the confidential information of consumers.
Moreover, the new technologies in the banking and finance sector have led to increased bank fraud and other criminal behavior. To protect consumers from such frauds, firms are investing more in providing cybersecurity to BFSI sector.
Major companies are developing advanced technologies and launching new services to stay competitive in the market. Other competitive strategies include mergers & acquisitions and development of new services.
Objective of the Study:
To analyze the historical growth in the market size of the Vietnam Cybersecurity Market from 2016 to 2020.
To estimate and forecast the market size of the Vietnam Cybersecurity Market from 2021 to 2026 and growth rate until 2026.
To classify and forecast the Vietnam Cybersecurity Market based on security type, solution type, by deployment mode, by end-user industry, by region and by top 10 provinces.
To identify the dominant region or segment in the Vietnam Cybersecurity Market.
To identify drivers and challenges for the Vietnam Cybersecurity Market.
To identify and analyze the profile of leading players operating in the Vietnam Cybersecurity Market.
To identify key sustainable strategies adopted by market players in the Vietnam Cybersecurity Market.
Some of the major players are
Viettel Cybersecurity Company
IBM Vietnam Company Ltd.
HPT Vietnam Corporation
Microsoft Vietnam Limited Liability Company
Amazon Web Services Vietnam Company Limited
Vietnam Posts and Telecommunications Group (VNPT)
SAP Vietnam Co. Ltd.
Cisco Systems, Inc.
Key Target Audience:
Cybersecurity service providers, aggregators, and other stakeholders
Organizations, forums and alliances related to cybersecurity
Government bodies such as regulating authorities and policy makers
Market research and consulting firms
Years considered for this report:
Historical Years: 2016-2019
Base Year: 2020
Estimated Year: 2021E
Forecast Period: 2022F-2026F
Vietnam Cybersecurity Market, By Security Type:
Vietnam Cybersecurity Market, By Solution Type:
Antivirus & Anti-Malware
Risk & Compliance Management
Identity & Access Management
Unified Threat Management
Data Loss Prevention
Encryption & Decryption
Intrusion Detection/Prevention System
Vietnam Cybersecurity Market, By Deployment mode:
Vietnam Cybersecurity Market, By End-User Industry:
IT & Telecom
Government & Defense
Vietnam Cybersecurity Market, By Region:
For more information about this report visit https://www.researchandmarkets.com/r/g5ik9f
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