The National Assembly of Vietnam has adopted the Law on Cybersecurity (“LCS”) that aims to protect national security and ensure social order and safety in cyberspace.
Cybersecurity Market has been primarily influenced by the massive potential of cloud services in Vietnam. Vietnam has been ranked 25th out of 182 countries in Global Cyber Security Index (GCI) 2020 by the International Telecommunication Union – the United Nation’s ICT-specialized agency. Growth in the market can be attributed to the leaning of the Vietnamese government towards investigating, detecting and prosecuting cybercrimes in the last few years. According to TechSci Research report, “Vietnam Cybersecurity Market, By Security Type (Network Security, Application Security, Cloud Security, Endpoint Security, Content Security & Others), By Solution Type (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), By Deployment Mode (Cloud & On premise), By End-User Industry (BFSI, IT & Telecom, Retail, Government & Defense, Healthcare, Education Technology & Others), By Region, By Top 10 Provinces, Competition, Forecast & Opportunities, 2016-2026”, the Vietnam Cybersecurity Market is forecast to grow at a rate of 16.52% to reach USD350.48 million by 2026.
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