Market research firm IDC says security software revenue in Vietnam grew 11.9% year-on-year (YoY) and reached US$16.2 million in 2014. The analyst forecasts the security software spending will be more on cloud and will see 11.8% growth in 2015.
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.