Market Overview
| Study Period | 2019 - 2030 |
|---|---|
| Base Year For Estimation | 2024 |
| Forecast Data Period | 2025 - 2030 |
| Market Size (2025) | USD 310.22 Million |
| Market Size (2030) | USD 384.22 Million |
| Growth Rate (2025 - 2030) | 14.80% CAGR |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order Image © Mordor Intelligence. Reuse requires attribution under CC BY 4.0. |
|
Vietnam Cybersecurity Market Analysis by Mordor Intelligence
The Vietnam Cybersecurity Market size is estimated at USD 310.22 million in 2025, and is expected to reach USD 384.22 million by 2030, at a CAGR of 14.80% during the forecast period (2025-2030). Demand scales rapidly as mandatory data-localization rules under Decree 53/2022 and the Personal Data Protection Decree 13/2023 compel enterprises to strengthen their digital defenses, while a USD 100 million public-sector budget accelerates national cyber-resilience programs. Cloud migration among small and mid-sized enterprises (SMEs), hyperscale data center build-outs by Viettel, AWS, and FPT, and rising biometric mandates in banking further expand the Vietnam cybersecurity market by widening both the threat surface and compliance burden. At the same time, a projected shortage of 700,000 skilled professionals through 2028 inflates service-provider demand and enhances the pricing power of qualified vendors. Fragmented enforcement, SME price sensitivity, and import tariffs on security appliances temper the overall growth trajectory but do not derail it, given the scale of digital-sovereignty investment.
Key Report Takeaways
- By offering, Solutions commanded 67.7% of the Vietnam cybersecurity market share in 2024, while Services are projected to advance at a 15.2% CAGR to 2030.
- By deployment mode, Cloud held a 56.5% share of the Vietnam cybersecurity market size in 2024 and is forecasted to expand at a 17.5% CAGR through 2030.
- By organization size, large enterprises accounted for 61.1% of the Vietnam cybersecurity market share in 2024, whereas SMEs are expected to grow at a 18.3% CAGR to 2030.
- By end-user industry, BFSI led with a 27.9% revenue share of the Vietnam cybersecurity market in 2024; healthcare is the fastest-growing vertical, with a 19.4% CAGR through 2030.
Vietnam Cybersecurity Market Trends and Insights
Drivers Impact Analysis
| Driver | (~) % Impact on CAGR Forecast | Geographic Relevance | Impact Timeline |
|---|---|---|---|
| Government digital-transformation agenda accelerating security spend | +2.8% | Nationwide, strongest in Hanoi and Ho Chi Minh City | Medium term (2-4 years) |
| Cashless-payment boom raising BFSI attack surface | +2.1% | Urban financial hubs | Short term (≤ 2 years) |
| SME cloud-migration wave post-2023 | +1.9% | Country-wide; industrial zones | Medium term (2-4 years) |
| Mandatory compliance with Cybersecurity Law and Decree 53/2022 | +2.3% | All sectors | Short term (≤ 2 years) |
| Hyperscale datacenter build-outs (Viettel, AWS, FPT) | +1.7% | Ho Chi Minh City, Hanoi corridors | Long term (≥ 4 years) |
| Rising state-sponsored APT attacks on critical infrastructure | +1.4% | National, government and utilities | Long term (≥ 4 years) |
| Source: Mordor Intelligence | |||
Government digital-transformation agenda accelerating security spend
The National Digital Transformation Programme earmarks USD 100 million for cybersecurity and requires every public service to reach level-4 online maturity by 2025.[1]Ministry of Information and Communications, “Digital Transformation Programme Update 2025,” mic.gov.vn Southern Power Corporation’s near-total shift to electronic contracts, 5.6 million executed by December 2024, shows how public-sector adoption forces suppliers to meet the same security standards.[2]EVN Southern Power Corp., “E-Contract Transformation Report,” evn.com.vn Eight “Make in Vietnam” SOC platforms certified in 2023 further localize expertise and funding, ensuring domestic vendors secure a preferential foothold when public agencies procure security technology. Each government deployment creates a signaling effect that nudges private firms to match baseline controls, amplifying market demand.
Cashless-payment boom raising BFSI attack surface
Biometric verification became compulsory for transactions above VND 10 million in July 2024, yet fraud rings manipulated photo-based bypasses to siphon over VND 1,000 billion from multiple banks, underscoring gaps in facial-recognition accuracy. Vietcombank’s AI-enabled anti-fraud engine stopped 40,000 suspicious transfers worth VND 160 billion within one month, demonstrating tangible returns on real-time threat analytics. Consequently, BFSI institutions channel higher budgets toward continuous authentication, behavioral analytics and transaction-monitoring suites, widening the Vietnam cybersecurity market.
SME cloud-migration wave post-2023
VNPT’s OneSME.vn platform onboarded almost 160,000 SMEs and processed VND 600 billion in transactions during 2024. Yet 60% of organizations still lack a clear cloud-security roadmap, allowing personal-data breaches against small firms to climb 50% year-on-year. Hybrid-cloud security architectures that fuse compliance tooling with cost-efficient SaaS thus resonate strongly with resource-constrained enterprises.
Mandatory compliance with Cybersecurity Law and Decree 53/2022
Foreign digital-service providers must localize user data for at least 24 months and establish on-shore offices within 12 months of notification. Personal Data Protection Decree 13/2023 deepens obligations by mandating Data Protection Officers and impact assessments. Multinationals now accelerate investments in localized SOCs, compliance automation and encryption, propelling short-term spending well above organic run-rate growth.
Restraints Impact Analysis
| Restraint | (~) % Impact on CAGR Forecast | Geographic Relevance | Impact Timeline |
|---|---|---|---|
| Certified-talent shortage (1.5 × gap) | −1.8% | Major cities: acute in Ho Chi Minh City and Hanoi | Long term (≥ 4 years) |
| Price-sensitive SME segment | −1.2% | Rural and secondary cities | Medium term (2-4 years) |
| Fragmented regulatory enforcement | −0.9% | Provincial variance | Short term (≤ 2 years) |
| High import tariffs on security appliances | −0.7% | Nationwide | Medium term (2-4 years) |
| Source: Mordor Intelligence | |||
Certified-talent shortage
Vietnam will need more than 700,000 cybersecurity specialists by 2028, yet 76% of firms already report staffing shortages, inflating salary costs and elongating deployment cycles.Brain drain to overseas employers worsens scarcity, while university curricula lag on hands-on training. The National Cybersecurity Association’s 2025 nCademy platform offers AI-personalized courses, but its near-term impact on workforce volume remains limited. Vendors compensate by bundling remote managed services and low-touch SaaS tools, but project timelines still extend.
Price-sensitive SME segment
Fourteen percent of SMEs run no antivirus software and 48% lack any security monitoring, citing budget rather than technical barriers. Although Security-as-a-Service models reduce upfront outlays, many firms still wait until post-breach before investing, compressing addressable market value despite large customer volume. Providers increasingly offer freemium tiers and government-subsidized packages to seed adoption.
Segment Analysis
By Offering: Solutions underpin foundations while Services close the skills gap
Solutions held 67.7% of the Vietnam cybersecurity market in 2024, led by network-security equipment and infrastructure protection mandated under Decree 53/2022. Demand for application, cloud, and identity-access security accelerates as enterprises migrate workloads and comply with biometric rules. Network-security refresh cycles align with hyperscale datacenter launches, while endpoint defenses expand alongside remote-work trends.
Services, though smaller, are projected to outpace products at a 15.2% CAGR through 2030 as organizations outsource security operations to bridge workforce shortages. Managed SOC, incident response retainer and compliance consulting anchor this surge. The Vietnam cybersecurity market size for Services is forecast to double by 2030, capturing budgets reallocated from capital purchases to operating expenses. Domestic providers leverage proximity and regulatory fluency, whereas global vendors win complex transformation projects.
Get Detailed Market Forecasts at the Most Granular Levels
Download PDF
By Deployment Mode: Cloud gains ascendancy amid sovereignty-ready datacenters
Cloud deployments captured 56.5% of Vietnam cybersecurity market share in 2024, catalyzed by Viettel’s 140 MW facility and CMC’s USD 250 million campus that satisfy data-localization clauses.Small firms prize SaaS agility, while banks and ministries choose private clouds to retain custody of sensitive data. Demand for cloud-native firewalls, container security and workload-protection platforms scales in parallel.
On-premise estates persist in defense, energy and legacy-system heavy sectors, but even these embrace hybrid designs. Unified policy orchestration across multicloud, edge and premises environments becomes a procurement prerequisite, steering vendor roadmaps toward single-pane management. By 2030 the Vietnam cybersecurity market size for cloud-deployed controls is projected to eclipse on-premise spending by a two-to-one margin.
By Organization Size: SME momentum outpaces large-enterprise incumbency
Large enterprises contributed 61.1% of Vietnam cybersecurity market revenue in 2024, purchasing integrated risk-management suites, advanced SIEM and zero-trust architectures[3]Viettel Cloud, “Comprehensive Security Service Portfolio,” viettel.com.vn . Banks, telcos and conglomerates negotiate volume contracts that bundle software, appliances and services. Their procurement criteria emphasize interoperability with existing systems and local support.
SMEs, however, register the fastest 18.3% CAGR as cloud adoption democratizes access to enterprise-grade security. VNPT’s OneSME.vn testimonies show transaction volumes near VND 600 billion in 2024, reflecting growing trust in digital channels
Get Detailed Market Forecasts at the Most Granular Levels
Download PDF
By End-User Industry: BFSI retains lead, Healthcare accelerates
BFSI accounted for 27.9% of the Vietnam cybersecurity market size in 2024, absorbing 71% of all reported cyberattacks. Real-time payment networks, digital-only banks, and biometric mandates together necessitate continuous transaction monitoring, fraud analytics, and secure API gateways. Banks invest in layered defense to preserve customer trust and regulatory compliance.
Healthcare is projected to post the highest 19.4% CAGR through 2030, as electronic health records and telemedicine propagate sensitive personal data across distributed devices. Government funding for smart hospitals and IoT medical infrastructure increases the risk of attacks, prompting demand for HIPAA-aligned encryption, medical device segmentation, and identity governance.
Competitive Landscape
The vendor field remains fragmented, with the top five suppliers collectively controlling less than 35% of the Vietnam cybersecurity market revenue, leaving ample room for challengers. Domestic leaders Viettel Cyber Security, FPT Information System, and CMC Cyber Security combine full-stack offerings with government relationships, often winning regulated-industry contracts. Viettel’s April 2025 spin-out endowed it with 500 specialists and a mandate to penetrate Japan and the Philippines. Meanwhile, its researchers have disclosed more than 400 zero-day vulnerabilities in global software over the past 18 months, thereby elevating brand credibility.
Global majors, including IBM, Cisco, Microsoft, and Palo Alto Networks, are expanding their local footprints through technology transfer, joint labs, and Vietnamese-language threat-intelligence portals. Partnerships such as OPSWAT-Bkav’s multiscanning alliance boost detection accuracy to over 99%, showcasing the value of hybrid global-local engineering. White-space opportunities flourish in cybersecurity insurance, industrial IoT security, and SME-focused MDR, niches now addressed by Viettel Money, VBI, CyStack, and DrayTek.
Talent scarcity shapes competitive strategy: companies differentiate via in-house academies, vendor-neutral certification sponsorships, and automated configuration toolkits that minimize human oversight. Further, regulatory expertise emerges as a sales lever; vendors able to guide clients on Decree 53/2022 audit preparation hold a distinct edge. Over the forecast horizon, incremental consolidation is likely, but large-scale mergers face cultural fit and valuation hurdles, thereby sustaining moderate fragmentation.
Vietnam Cybersecurity Industry Leaders
-
IBM Vietnam Co., Ltd
-
HPT Vietnam Corporation
-
Cisco Systems, Inc
-
CMC Corporation
-
Amazon Web Services, Inc
- *Disclaimer: Major Players sorted in no particular order
Need More Details on Market Players and Competitors?
Download PDF
Recent Industry Developments
- July 2025: CMC Corp. secured approval for a USD 250 million hyperscale datacenter in Ho Chi Minh City to support cloud and cybersecurity workloads.
- July 2025: National Cyber Security Technology Co. launched a 300 Gbps AI-enhanced firewall optimized for local chipsets.
- June 2025: Vietcombank’s automated fraud-detection system blocked 40,000 suspicious transfers worth VND 160 billion.
- May 2025: CMC Telecom unveiled an AI-driven security platform spanning SecOps, cloud and risk management.
Vietnam Cybersecurity Market Report Scope
Cybersecurity solutions help organizations monitor, report, and counter cyber threats to maintain data confidentiality. The adoption of cybersecurity solutions is expected to grow in line with the rising internet penetration among developing and developed countries. The need for cybersecurity has increased as every system in today's world is connected to the internet, making data more accessible to cybercriminals.
Vietnam cybersecurity market is segmented by offerings (solutions [application security, cloud security, data security, identity access management, infrastructure protection, integrated risk management, network security, end-point security, and other solution types] and services [professional services and managed services]), by deployment (On-premise, and cloud), by organization size (SMEs, large enterprises), by end-user vertical (BFSI, healthcare, IT and telecom, industrial and defense, retail, energy and utilities, manufacturing, and other end-user industries). The market sizes and forecasts are provided in terms of value in (USD) for all the above segments.
By Offering
| Solutions | Application Security |
| Cloud Security | |
| Data Security | |
| Identity and Access Management | |
| Infrastructure Protection | |
| Integrated Risk Management | |
| Network Security Equipment | |
| Endpoint Security | |
| Services | Professional Services |
| Managed Services |
By Deployment Mode
| Cloud |
| On-Premise |
By End-User Industry
| BFSI |
| Healthcare |
| IT and Telecom |
| Industrial and Defense |
| Retail |
| Energy and Utilities |
| Manufacturing |
| Other End-User Industries |
By Organization Size
| SMEs |
| Large Enterprises |
| By Offering | Solutions | Application Security |
| Cloud Security | ||
| Data Security | ||
| Identity and Access Management | ||
| Infrastructure Protection | ||
| Integrated Risk Management | ||
| Network Security Equipment | ||
| Endpoint Security | ||
| Services | Professional Services | |
| Managed Services | ||
| By Deployment Mode | Cloud | |
| On-Premise | ||
| By End-User Industry | BFSI | |
| Healthcare | ||
| IT and Telecom | ||
| Industrial and Defense | ||
| Retail | ||
| Energy and Utilities | ||
| Manufacturing | ||
| Other End-User Industries | ||
| By Organization Size | SMEs | |
| Large Enterprises | ||
Need A Different Region or Segment?
Customize Now
Key Questions Answered in the Report
What is the current size of the Vietnam cybersecurity market?
It stands at USD 0.28 billion in 2025 and is projected to reach USD 0.56 billion by 2030.
Which segment grows fastest in the Vietnam cybersecurity market?
Cloud-deployed security leads, expanding at 17.5% CAGR as enterprises migrate workloads to local hyperscale datacenters.
How severe is Vietnam’s cybersecurity talent shortage?
The country faces a deficit of more than 700,000 professionals through 2028, creating implementation bottlenecks and boosting demand for managed services.
Why is the banking sector a prime adopter of cybersecurity solutions?
BFSI experiences 71% of all Vietnamese cyberattacks, compelling banks to embed real-time fraud analytics, biometric authentication and zero-trust architectures.
What regulations most influence market spending?
Decree 53/2022 on data localization and Personal Data Protection Decree 13/2023 collectively drive mandatory investments in localized infrastructure, compliance automation and encryption.
Which regions attract the bulk of cybersecurity investment?
Ho Chi Minh City and Hanoi dominate due to datacenter concentration, skilled workforce and proximity to regulators, although provincial SOCs are expanding reach nationwide.
Page last updated on:
