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.
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.
The report also covers the market shares and revenues of major companies in the Philippines' electronic security market. It also covers the future outlook and projections, which have been analyzed on the macroeconomic factors that have a direct bearing on the market. The competitive landscape of major players has been covered including Hikvision, HID Global, UTC Fire, Panasonic, Dahua, Bosch Security and others. Future market segmentation, growth opportunities, up-coming business models, government regulations and analyst recommendations have been covered.
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.
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.
Ken Research Ankur Gupta Head Marketing & Communications [email protected] +91-9015378249