Spending on software security rose 11.9 per cent in 2014 and growth seems likely to continue.
Security software revenue in Vietnam grew 11.9 per cent and reached $16.2 million in 2014, according to market researcher the International Data Corporation (IDC). Spending is forecast to be higher on cloud and will record growth of 11.8 per cent this year.
“In terms of security investment, Vietnamese organizations are still focusing much on endpoint and network security, while spending on web and messaging solutions has been reduced,” said Mr. Ha Ngoc Khuong, Market Analyst for IDC Vietnam. “Both the web and the messaging security market continued to face a challenging year in 2014, with a slight increase of 2.3 per cent and a decrease of 1.2 per cent, respectively.”
In 2014 the endpoint market was back on track with healthy growth of 12.4 per cent due to increased spending from the government and the communications and media sectors for endpoint protection. There was also growing concern for Secure Socket Layer (SSL) for banking services and the demand for centralizing data center authorization led to increased traction for identity access management, with 15.4 per cent growth last year.
Compared to 2013 Security and Vulnerability Management saw a reduction of 2 per cent in 2014 due to slow spending by key end-users such as the banking and communications sectors.
Increasing investment in both 3rd Platform technologies and local organizations’ projects in Big Data and Cloud is the key reason for a buoyant outlook. More organizations are enhancing security investment as they become cognizant of increased cyber threats in Vietnam.
“Cyber attacks today are more complicated,” Mr. Khuong explained. “By using cloud technology, hackers are investing time to learn the behavior of their target and the cost of launching security attacks is also less.”
The International Data Corporation (IDC) is the premier global provider of market intelligence, advisory services, and events for the information technology, telecommunications, and consumer technology markets. IDC helps IT professionals, business executives, and the investment community make fact-based decisions on technology purchases and business strategies.