Increasing Security Awareness Fueled Growth in Vietnam’s Security Software Market in 1H 2011, says IDC
25 Jan 2012
Ho Chi Minh City, Vietnam, January 9, 2012 – Despite macroeconomic challenges, the security software market in Vietnam grew 10.9% in the first half of 2011 as compared to the same period last year, according to IDC's Asia/Pacific Semiannual Software Tracker. The Security Content and Threat Management market led the security software market at 59.4% while aggressive strategies undertaken by vendors such as IBM and HP helped boost the growth of the Security Vulnerability Management Software market, which experienced a remarkable 75% year-on-year (YoY) growth in 1H 2011.
''The financial services industry continued to be major spenders within the security market with 21.4% YoY growth recorded in 1H 2011,'' says Khuong Ha, Associate Market Analyst of IDC Vietnam. ''Although large enterprises remained a major contributor to the security software market, security vendors also increased their level of engagement with the SMB segment, which grew 15.4% during this period.”
Although investment on security software has increased, it appears that the community is still not well-positioned to defend against or respond to cyber threats.
IDC observes that the distributed denial-of-service (DDoS) attacks are not only increasing in size, but they are also increasing in complexity. According to the Vietnamese Ministry of Information, over 300 government websites and 150 commercial Vietnamese websites were attacked from January to November 2011 despite being hosted by credible web-hosting companies. In recent months, established e-commerce websites in Vietnam, one of them valued nearly USD $1 million, fell prey to cyber attacks.
“The Vietnamese security software market will continue to evolve and progress toward international standards over the next few years. The market has ample room for development with the onset of e-commerce, mobility and cloud computing in the country,” Khuong concludes.
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