Security Software Spending in Vietnam Grew 11.9% in 2014, With A Strong Momentum of Public Cloud This Year, Says IDC
02 Jun 2015
HO CHI MINH CITY, VIETNAM, June 3, 2015 – Security software revenue in Vietnam grew 11.9% year-on-year (YoY) and reached $US 16.2 million in 2014, according to International Data Corp (IDC). IDC forecasts the security software spending will be more on cloud and will see 11.8% growth in 2015.
Based on IDC's Asia/Pacific 2H2014 Semiannual Software Tracker, the spending for network security that includes intrusion prevention and application firewall grew strongly with 19.7% increase in 2014 compared to 2013.
"In terms of security investment, Vietnamese organizations are still focusing much on endpoint and network security, while the spending on web and messaging solutions has been reduced," said Ha Ngoc Khuong, Market Analyst for IDC Vietnam. Khuong also added that both web and messaging security market will continue to face a challenging year in 2014 with 2.3% and negative 1.2% YoY growth respectively.
In 2014, the endpoint market had returned on track with a healthy growth of 12.4% due to the increased spending from government, communication and media for endpoint protection. There was also growing concern for Secure Socket Layer (SSL) for banking services and the demand for centralizing data center authorization has led to increased traction for identity access management with 15.4% growth last year.
Compared to the same period in 2013, the Security and Vulnerability Management saw lower traction with 2% negative growth in 2014 due to the slow spending from key end-users such as banking and communication sectors.
Increasing investment in both the 3rd Platform technologies and local organizations' projects in Big Data and Cloud is the key reason for buoyed forecast outlook. More organizations are enhancing security investment as many are cognizant of the increased cyber threats in Vietnam.
"Cyber attacks today are more complicated. By using cloud technology, hackers are investing time to learn the behavior of their target and the cost of launching security attack is lesser too," said Khuong.
According to IDC's Asia/Pacific 2H2014 Semiannual Software Tracker, the endpoint security on public cloud saw 102.3% growth compared to the same period last year. IDC forecasts the endpoint on public cloud will continue to grow in 2015 with 74% growth. Thus, it will be a challenge for resellers whose businesses are heavily rely on traditional selling of license softwares.
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Endpoint security, Firewall and VPN security appliance products, Identity and access management, Intrusion detection and prevention, Messaging security, Network security, Secure content and threat management, Security and vulnerability management software, Web security
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