The future of the security solution market

December 6, 2018 | 08:46 am GMT+7

Continued cyberattacks are prompting banks, finance institutions, online sale websites and public businesses to spend more money on security solutions.


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Continued cyberattacks are prompting businesses to spend more money on security solutions

Experts say the volume of digital data of enterprises is increasing, with more need for data protection.

The traditional way of using information security solutions (infrastructure, apps, terminal devices and human resources) has not changed much, because the systems still provide services with traditional interfaces (web, mobile, winform, etc). 

However, there is a difference between solutions applied in the past and now. As the data storage forms are different (mostly non-structural), and the volume of data stored is huge, new information security solutions are needed.

As for IoT (internet of things), with devices that use specialized protocols, it is even more difficult to have information security solutions. Currently, there are many suppliers of specialized software for IoT, SCADA and ICS, while the number of protocols remains modest.

The budget needed for information security solutions for enterprises depends on their operational characteristics.

Small-scale businesses with just 50 workers still have to make heavy investment in security solutions if the businesses operate in finance, market analysis and investment fields. 

Meanwhile, enterprises with hundreds of workers may not have to spend too much money on security solutions because their work does not relate to secrets.

2-digit growth rate 

About the security market, Ngo Vi Dong, deputy chair of VNISA (Vietnam Information Security Associatio), believes the market will witness high 2-digit growth rates. The Vietnamese market promises great potential for solution providers.

However, Dong said the competition in the market will be stiff and suppliers need to be professional in international competition, marketing and maintenance.

Microsoft recently said that its base solutions with AI-oriented security architecture will be smarter. They can quickly analyse and give responses, and even predict cyberattacks in the future.

A report implemented by Frost & Sullivan per Microsoft’s request showed that except for threats from outside, businesses need to be wary of internal network security vulnerabilities. 

A high number of security solution providers exist in Vietnam, of which the best known names are Kaspersky Lab, Trend Micro, Symantec, CheckPoint and the Bach Khoa Corporation (BKAV).

Ngo Tran Vu, CEO of NTS, the distributor of Kaspersky Lab’s products, noted that enterprises that make big investments in security solutions are from the retail industry, banking and securities, while small & medium enterprises spend less money on solutions.

Vietnamese websites were hit by more than 6,500 cyber security attacks in the first eight months of 2018, according to the Vietnam Computer Emergency Response Team (VNCERT)