Vietnam Cybersecurity Market

Vietnam Cybersecurity Market Overview

Vietnam Cybersecurity Market size valued at USD 280 million in 2024  and is forecast to reach USD 912 million in 2032 growing at a robust CAGR of 15.9%  till 2032 primarily driven by rapid expansion of digitalization and cloud services, rising regulatory pressure and compliance requirements, rising cyber threats and attack.

Market Size, Forecast & Key Segment Insights

Market Size & Forecast:

• • 2024 – USD 280 Million
  • 2032 – USD 912 Million
  • Market Forecast – CAGR of 15.9% from 2025-2032

Segment Insights:

• • Offerings Type Insights: Solutions segment accounted for the largest share of the market in 2024
  • Deployment Mode Type Insights: Cloud deployment is projected to grow at robust CAGR during the forecast period
  • Organization Size Type Insights: Large enterprises dominate the market as they significantly increase investments in cybersecurity products and services to defend against potential cyberattacks.
  • Industry Vertical Market Insights: BFSI sector holds the largest market share, as banks, insurance firms, and financial institutions handle sensitive data and face stringent regulatory requirements.

Vietnam Cybersecurity Market Growth Drivers

Rapid Expansion of Digitalization and Cloud Services

Vietnam’s digital economy is witnessing  a positive growth trend, in the last couple of years digital economy contribution to overall GDP is continued to increase, as per World Bank the digital economy is forecast to grow at a rate of 10% annually, and it is anticipated to surpass USD 200 billion by 2045 owing to very large young population, and mobile phone ownership is widespread, with roughly 80% of citizens owning a cellphone, exceeding overall Internet penetration levels. The use of smartphone is very high across the country. An per the HSBC survey, it shows 60% of businesses have plans to make investments in technology, prioritizing digital payments, e-commerce, and AI, as Vietnam leads Southeast Asia in cashless payment growth.

Moreover, the increase use of cloud, growing number of Internet of Things (IoT) connections will drive the need for cloud-based cybersecurity solutions propelling the Vietnam Cybersecurity Industry. The high and fast adoption of cloud computing services by organizations in Vietnam, lowering the functional and maintenance costs while eliminating the need for high capital investments and on-site infrastructure setup, is introducing favorable opportunities for growth in the Vietnam Cybersecurity Market Companies.

The boost in automation and the increase in Internet-connected devices, coupled with the growing frequency of data breaches, are anticipated to drive significant growth in Vietnam. For instance, based on the National Cybersecurity Index 2023, ranking of Vietnam in the global cybersecurity index and ICT development Index are 25th and 108th, respectively. These rankings reflect the country’s advancement and development of IT infrastructure concerning cybersecurity challenges and its growth in the Vietnam Cybersecurity Market.

The surging amount of time people spend on social media platforms is making personal information more prone to cyberattacks. Moreover, the extensive usage of smartphones devices and the accessibility of connected devices have resulted in the generation of huge volumes of data. This data adoption through smart devices creates both opportunities and challenges in terms of data security and privacy.

By 2025, the MIC targets to boost Vietnam’s digital infrastructure and the goal is to have Vietnam’s government index ranked among the top four countries in Southeast Asia, on the basis of the United Nations ranking. The position of Vietnam in the Global Cybersecurity Index, holding the 7th rank around the Asia-Pacific region. To accomplish this aim, the ministry highlights different key areas that further develop Vietnam Cybersecurity Market Growth such as developing a robust database and connection infrastructure, advancing research and development activities in priority of technologies, growing international partnerships, and uplifting cybersecurity awareness and responsibilities.

Rising Regulatory Pressure and Compliance Requirements

Stricter data protection and cybersecurity regulations in Vietnam are driving organizations to adopt stronger security controls, significantly boosting cybersecurity demand.

Favourable government initiatives like ‘Make in Vietnam’ and cybersecurity laws focused on assisting the cybersecurity industry are expected to have a positive impact on the growth of the Vietnam Cybersecurity Market.

However, the implementation of Security Operation Centers in all government institutions further highlights the government’s commitment to improving cybersecurity solutions and is projected to drive market growth. In 2022, a National Cybersecurity Strategy was issued by the government to address cyberspace challenges until 2050 with a vision towards 2030, which presents a positive impact on cybersecurity.

The objective of the government behind this strategy is to continue ranking Vietnam on the global cybersecurity index with the range of 25th-30th by 2050. This target of the government reflects a boost in market opportunities and an increase in demand for cybersecurity solutions.

Vietnamese enterprises are investing in security solutions and managed services, making regulatory pressure a key catalyst for market growth.

Rising Cyber Threats and Attack

Vietnam has observed an increment in cyberattacks over the past several years, which has compromised personal data and the leakage of financial and confidential information. In Sep 2025, National Credit Information Center (CIC) under the State Bank of Vietnam which contains database of creditor information such as sensitive data including personal details, credit records, risk assessments, and credit card information was recently targeted by hackers.

Given the growing prevalence of cyberattacks and data breaches, there is a high demand for Security Information and Event Management technology and services. The data from Kaspersky Security Network is motivating, reflecting a huge decrease in both online and offline cyberattacks in Vietnam during 2022, with a drop of nearly 33.8% compared to the previous year. This deduction has a positive impact and development on the market and encourages the usage of cybersecurity solutions in connected devices which further fosters Vietnam Cybersecurity Market Size. Although, the firm announced that, they blocked and detected nearly 41,989,163 cyber intrusions over the internet targeting users’ computers in Vietnam during the past year. This number is notably lower than the over 63 million cases registered during the previous year.

Vietnam Cybersecurity Market Segment Analysis

Offerings Type Market Insights: Solutions segment hold the largest market share of 62% of the market in 2024

Solutions accounted for the largest share of the market, strong demand for security products is fueled by rapid digital adoption in e-commerce, fintech, and cloud, alongside rising cyber threats requiring urgent technological solutions. Services segment is also projected to grow ta a robust rate as owing to as security consulting is shifting from optimizing existing security issues to distribute and virtualize security as organizations adopt cloud environments and broader third-party ecosystems.

Deployment Mode Type Market Insights: Cloud deployment is projected to grow at robust CAGR during the forecast period

Cloud deployment is projected to grow at robust CAGR during the forecast period owing to companies as more and more companies are migrating workloads to cloud and data to cloud rising security challenges driving demand for cloud based cybersecurity solutions. Hybrid work is going to continue and employees access data from various location and devices beyond companies security perimeter is creating demand for cloud security solutions during the forecast period.

Organization Size Type Market Insights: Large Enterprises dominate the market as enterprises increasing investments in cybersecurity products & services to ward of potential cyber-attacks.

Large Enterprises dominate the market as enterprises increasing investments in cybersecurity products & services to ward of potential cyber-attacks. The number of large enterprises are projected to grow owing to FDI disbursements in Vietnam reached USD 18.8 billion in the first nine months of 2025, up 8.5% YoY. Domestic capital is also re-emerging, supported by improved credit, bond markets, and clearer regulations. Growing local-foreign joint ventures are boosting high-quality industrial real estate, while strategic sectors such as electronics, industrial equipment, and data centers are expanding into larger-scale operations.

Industry Vertical Market Insights:

BFSI sector leads the market, as banks, insurance companies, and financial institutions manage sensitive data and operate under strict regulatory demands. This drives substantial investment in identity management, network security, and threat intelligence solutions to strengthen protection and ensure compliance.

IT & Telecom industry is projected to grow at a robust rate, the growth of the Vietnam Telecom Market during the forecast period driven by various key factors such as increasing use of smartphones coupled with the growing demand for high-speed data connectivity among consumers. In addition, the continuing procedure of speedy urbanization, the growing living standards among the population is predicted to foster the growth of the IT & Telecom industry in Vietnam. The expansion of 5G commercial coverage to 16 cities and provinces by mobile network operators marks a significant step in advancing telecommunications infrastructure in Vietnam which further drives the Vietnam Cybersecurity Market Share.

Moreover, the Department of Telecommunication has taken corrective actions to enable the acceptance of smartphone services and packages of internet, making them more available to the public. Also, all three foremost mobile network delivery services introducing Mobile Money services open new market opportunities and develop space for accomplishing the goal of 100% of grownups with Mobile Money accounts. The collaborative efforts between both to prevent customers from spam calls, texts, and SIM-connected problems present a boost in enhancing the user experience and cybersecurity in the telecommunications sector.

The Ministry of Information and Communications in Vietnam has also announced a plan that comprises a secure national digital infrastructure, propelling new opportunities for digital economic growth, and strengthening e-governance. These aims are integral components of the Ministry’s action plan to implement a national strategy for the 4th industrial revolution by 2030. These initiatives by the government are presenting significant growth to the cybersecurity market in Vietnam as developing and strengthening IT infrastructure is one of the foremost drivers of this market.

Vietnam Cybersecurity Market Major Players & Competitive Landscape

Major players operating in the Vietnam are Cisco, Microsoft, IBM, Palo Alto Networks, Viettel Cyber Security, CMC Cyber Security, FPT Information System, BKAV Corporation, AWS, VMware, Cloudflare, VNPT Technology etc

Vietnam’s cybersecurity market is fragmented, with major players holding only about one-third of the share. To succeed in Vietnam, vendors must adapt to varying regulations, innovate localized compliance solutions, and build credibility. Collaborating with local vendors, startups, and government agencies will strengthen their market position.

Key Vietnam Cybersecurity Market Developments

• • In Sep 2025, A major Vietnamese database containing creditor information was recently targeted by hackers, and authorities are still evaluating the extent of the breach, according to the national cybersecurity agency and a document reviewed by Reuters. The attack affected the National Credit Information Center (CIC) under the State Bank of Vietnam, which holds sensitive data including personal details, credit records, risk assessments, and credit card information.
  • In July 2025, In an effort to strengthen national cybersecurity, Vietnam’s Ministry of Public Security has acquired a majority stake in FPT Telecom, one of the nation’s largest internet providers, as part of efforts to strengthen national cybersecurity. Previously, the State Capital Investment Corporation held 50.17% of the company, while FPT Corp owned 45.66% but maintained operational control.
  • In 2022, Kasikornbank of Thailand showcased its intention to develop as a provincial digital bank by launching a growth drive around Vietnam by investment of around USD 75 Mn to boost its facility setup around AEC+3, which comprises ASEAN plus China, Japan, and South Korea. The strategic aim behind this is to improve the bank’s ability to deliver digital services to clients in different sectors.
  • In 2022, Amazon Web Services planned to expand its reach in Vietnam by motivating more clients to use its offshore-situated cloud services. However, the government of Vietnam is also offsetting the pressure for local companies to store their data within the nation for safety purposes. The strategy of Amazon comprises growing its existence across the Socialist Republic of Vietnam to prevent native data center clients.
  • In 2023, CMC Telecom accomplished a significant transformation, moving from a traditional ISP to a CSP. This shift is effectively contributing to introducing Vietnam as a Digital Hub, not only within the Asia Pacific region but also on the international stage. The strategy is in accord with the mission of driving Vietnam towards becoming a digitally advanced nation. Also, it serves the role of digital technology in serving international markets and developing the country’s position in the digital scope.
  • In 2022, IBM made a multi-million-dollar investment to develop resources aimed at helping businesses in the APAC region to better prepare for and manage the rising risk of cyberattacks. The principal point of this investment is the establishment of the new IBM Security Command Center, which presents a groundbreaking initiative as a training hub for cybersecurity response approaches by using highly realistic simulated SOCs. The aim is to prepare individuals varying from C-Suite executives to technical professionals in efficiently mitigating cyberattacks.

Vietnam Cybersecurity Market Scope of the Report

Vietnam Cybersecurity Market Research Report Segmentation

The Vietnam Cybersecurity Market has been segmented based on Offerings, Deployment Mode, Organization Size, and Industry Verticals. Based on the Offerings, the market is segmented into Solutions and Services. The Solutions segment is further segmented into Infrastructure Protection, Network Security Equipment, Identity Access Management, Integrated Risk Management, Application Security, Cloud Security, Data Security, and Other Information Security Software. Based on the Deployment Mode, the market is segmented into On-Premises and Cloud. Based on the Organization Size, the market is segmented into SMEs and Large Enterprises. Based on the Industry Verticals, the market is segmented into BFSI, Government and Defence, Energy and Utilities, Healthcare, IT and Telecommunication, Retail, Manufacturing, and Others.

Vietnam Cybersecurity Market by Offerings:

• • Solutions

• • • Infrastructure Protection
    • Network Security Equipment
    • Identity Access Management
    • Integrated Risk Management
    • Application Security
    • Cloud Security
    • Data Security
    • Other Information Security Software
  • Services

Vietnam Cybersecurity Market by Deployment Mode

• • On-Premises
  • Cloud

Vietnam Cybersecurity Market by Organization Size

• • SMEs
  • Large Enterprises

Vietnam Cybersecurity Market by Industry Verticals

• • BFSI
  • Government and Defence
  • Energy and Utilities
  • Healthcare
  • IT and Telecommunication
  • Retail
  • Manufacturing
  • Others

Major Players Operating in the Vietnam Cybersecurity Market

• • Cisco

  • Microsoft

  • IBM

  • Palo Alto Networks

  • Viettel Cyber Security

  • CMC Cyber Security

  • FPT Information System

  • BKAV Corporation

  • Amazon Web Services (AWS)

  • VMware

  • Cloudflare

  • VNPT Technology