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Vietnam Cyber Security Market is Expected to Reach about USD 215 Million in Terms of Revenue by the Year Ending 2023: Ken ResearchGURUGRAM, India, Sept. 2, 2019 /PRNewswire/ --
 Retail and ICT Industry gaining Traction in Vietnam: Vietnam is witnessing growth in its retail and ICT sector due to the overall development in the Vietnam economy. According to the Vietnam Bank Proprietary data, the retail market witnessed an increase in the number of credit card transactions from 10 million in the year 2013 to 46 million in the year 2018, which has also increased the number of cyber threats incidents in this sector. The Vietnam's ICT sector is the driving force for growth and transformation in the Vietnamese economy as Vietnam has emerged as a production center for both IT hardware and services such as software development outsourcing. Digitization in the Small and Medium Enterprises (SMEs) Sector: The SMEs in Vietnam are digitalizing rapidly and exploiting the power of technology to increase its revenue and cater to a larger number of customers within and beyond their geographical boundaries. Owning an efficient and effective IT infrastructure plays a very important role in the growth of Vietnamese SMEs. The growing number of SMEs in Vietnam is moving towards adopting security solutions that will positively impact the cyber security market in Vietnam in the near future. Change in Vietnam Cyber Security Law: A law requiring Internet companies in Vietnam to remove content that the communist authorities deem to be against the state came into effect in early 2019. The legislation requires internet companies to remove content the government regards as "toxic". Tech giants such as Facebook and Google will also have to hand over user data if asked by the government, and open representative offices in Vietnam. Technological Advancement: Threat from cybercriminals is becoming increasingly sophisticated, so security needs to be able to adapt in order to keep up with upcoming cyber threats. The adoption of the technologies such as IoT security, cloud technology, block chain, artificial intelligence and others has been growing in Vietnam resulting in the growth of the cyber security market. The adoption of these technologies would increase the cyber crimes in the country which in result would witness a higher demand for the security solutions for protecting these technologies from the cyber crimes. Analysts at Ken Research in their latest publication "Vietnam Cyber Security Industry Outlook to 2023 – By Solutions (Firewall & UTM, Intrusion Detection System, Antivirus and Others), By End Users (Banking & Finance, Government, IT & Telecom, Retail and Others), By Import and Domestic Security Solutions, By Security (Network Security, Application Security, End-Point Security, Mobile & Wireless Security, Content Security and Cloud Security)" believe that the cyber security industry in Vietnam is expected to expand further due to increase in number of cyber crime incidents, rising awareness of security solutions among firms, growth in the sectors such as Retail, ICT and other end user industries, increasig digital penetration in the country and increase in the demand for data security solutions by the Small and Medium Enterprises (SMEs). The market is expected to register a positive CAGR of 14.8% for cyber security market in terms of revenue during the forecast period 2019-2023. Key Segments Covered:
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For more information on the market research report please refer to the link below: Other Related Reports The report provides a comprehensive analysis of cyber security services and solutions in Europe. The report focuses on overall market size for cyber security services and solutions in Europe, market segmentation by Type of Solution (Firewall, Intrusion detection system, Antivirus, Identity and Access Management, Encryption, Data Loss Prevention, UTM, Disaster Recovery and IoT Devices), By Type of Security (Network Security, Application Security, End-Point Security, Mobile & Wireless Security, Content Security and Cloud Security), By End Users (Banking & Finance, Government, IT & Telecom, Retail, Healthcare, Energy & Power, Private User and Others) and By Imported and Domestic Services and Products.. The report also covers the overall comparative landscape, major cyber attacks, snapshot of cyber security market in EU countries, trends and growth drivers, issues and challenge, decision making parameters, technologies used in the cyber security market, SWOT analysis and Government regulations in the market. The report concludes with future projections and analyst recommendations highlighting the major opportunities and cautions for the Europe cyber security industry. The report provides a comprehensive analysis on the Middle East cyber security market including cyber security market size, Market segmentation by region (North, Central, West, East and South), by Type of solution (firewall, intrusion detection system, antivirus, identity and access management, encryption, data loss prevention, unidentified threat management, disaster recovery), Growth Drivers, Restraints, Key Regulations Future Outlook and Analyst recommendation. This report will help the readers to identify the ongoing trends in the industry and anticipated growth in future depending upon changing industry dynamics in coming years. The report is useful for system integrators, developers, distributors, resellers, end users such as government and potential entrants and other stakeholders to align their market centric strategies according to ongoing and expected trends in the future. The report provides a comprehensive analysis on the cyber security market in Brazil. The report covers various aspects such as overall size of Brazil cyber security market size in terms of revenues, Global cyber security market size, Brazil antivirus & antimalware market size, Market segmentation of Brazil cyber security market on the basis of types of security, solutions, regions, end users, major industries, services and others, Brazil antivirus & antimalware market segmentation, trends and growth drivers of the industry, issue & challenges, market share, and future analysis of the industry. The report also covers the competitive landscape of the industry, heat map analysis, list of system integrators and consultants operating in the market. Contact Us: Ankur Gupta, Head Marketing 
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