Report Overview

Growing cyber threats, increasing adoption of cloud-based solutions, stringent regulations, expanding digital transformation initiatives, rising awareness about cybersecurity, and outsourcing trends further boost the growth of the Vietnam Managed Security Services (MSS) Market during the forecast period between 2024 and 2030.

Vietnam Managed Security Services (MSS) Market – Industry Trends & Forecast Report, 2030

Vietnam Managed Security Services (MSS) Market size by value was estimated at USD 90.17 million in 2023. During the forecast period between 2024 and 2030, the Vietnam Managed Security Services (MSS) Market size is expected to expand at a CAGR of 6.23% reaching a value of USD 146.22 million by 2030. The Vietnam Managed Security Services (MSS) Market is influenced by several factors. Firstly, the increasing digitization across industries leads to higher demand for cybersecurity solutions. Secondly, the rising sophistication of cyber threats prompts businesses to invest in robust security measures. Thirdly, regulatory compliance requirements drive organizations to adopt MSS to ensure data protection and privacy. Additionally, the growing awareness of the importance of cybersecurity among enterprises fuels market growth. Moreover, the adoption of cloud-based services and the proliferation of IoT devices further contribute to the expansion of the MSS market in Vietnam.

Managed Security Services (MSS) – Overview

Managed Security Services (MSS) offer outsourced monitoring and management of security systems and functions. MSS providers oversee intrusion detection, firewall management, vulnerability assessments, and more, often using advanced analytics and threat intelligence to identify and mitigate cyber threats. They provide round-the-clock monitoring and response to security incidents, helping organizations strengthen their security posture, comply with regulations, and mitigate risks. MSS allows businesses to access specialized expertise and technologies without the need for in-house resources, offering scalable and cost-effective solutions to safeguard against evolving cyber threats and protect sensitive data.

Vietnam Managed Security Services (MSS) Market   

Growth Drivers

Rising Cybercrimes

The surge in cybercrimes across industries is driving growth in the Vietnam Managed Security Services (MSS) Market. As cyber threats like data hacking and ransomware become more severe, organizations require round-the-clock monitoring to bolster their security measures. Managed cybersecurity services offer solutions for threat identification, data protection, and risk assessment, addressing the escalating need for comprehensive security management. Additionally, the proliferation of connected devices in various sectors necessitates enhanced security measures to combat cyber risks such as malware and data breaches. This heightened demand for MSS is further fueled by the increasing adoption of IoT devices, which present unique security challenges requiring specialized solutions.

Challenges

Trust Deficit May Hamper Market Growth

Limited trust among end users hampers growth in Vietnam's Managed Security Services (MSS) Market. Third-party service adoption faces obstacles due to end users' mistrust. Small businesses and enterprises, lacking resources for in-house security expertise, resort to MSS providers. End users must ensure providers' security standards and employ the latest cybersecurity tools. MSS providers offer control over data, making security breaches detrimental to a business's reputation.

Impact of Escalating Geopolitical Tensions on Vietnam Managed Security Services (MSS) Market   

Escalating geopolitical tensions can significantly impact Vietnam's Managed Security Services (MSS) Market. With increased cyber threats emanating from geopolitical conflicts, the demand for robust security solutions surges. For instance, in recent years, Vietnam has faced growing cybersecurity challenges due to geopolitical tensions in the South China Sea. This has led to heightened awareness among businesses and government entities regarding the importance of MSS to safeguard sensitive data and critical infrastructure. Consequently, there's a notable increase in investment in MSS offerings, including threat intelligence, security monitoring, and incident response services. However, heightened tensions may also lead to stricter regulations and compliance requirements, posing challenges for MSS providers to adapt swiftly. Overall, while geopolitical tensions drive demand, they also introduce complexities and uncertainties in the Vietnam MSS Market landscape.

Vietnam Managed Security Services (MSS) Market   

Segmental Coverage

Vietnam Managed Security Services (MSS) Market – By Type

Based on type, Vietnam Managed Security Services (MSS) Market is divided into Fully Managed and Co-Managed segments. The fully managed segment is a larger type, encompassing comprehensive security solutions provided by external experts. Fully managed services involve outsourcing the entire security infrastructure, including monitoring, detection, and response, offering clients peace of mind and offloading the burden of cybersecurity management. The segment caters to organizations seeking robust protection against evolving cyber threats without the need for in-house expertise or resources. Its prominence underscores the growing reliance on external partners to fortify digital defenses and ensure uninterrupted operations amidst escalating cyber risks in the Vietnamese market.

Vietnam Managed Security Services (MSS) Market – By Service Type

Based on service type, Vietnam Managed Security Services (MSS) Market is divided into Managed IAM, Managed Vulnerability Management, Managed Risk and Compliance, Managed Detection and Response, Managed Firewall, Managed IDS/IPS, Managed SIEM, and Others (including Managed Encryption) segments. The managed detection and response segment is the largest service type in the Vietnam Managed Security Services (MSS) Market. The segment involves the continuous monitoring and analysis of network traffic to detect and respond to cybersecurity threats effectively. With the increasing complexity of cyber threats, businesses prioritize proactive threat detection and swift response mechanisms, making managed detection and response a crucial component of MSS offerings. It encompasses real-time threat hunting, incident investigation, and remediation activities, ensuring organizations can effectively mitigate risks and safeguard their digital assets.

Vietnam Managed Security Services (MSS) Market – By Deployment Mode

Based on deployment mode, Vietnam Managed Security Services (MSS) Market is divided into On-premises and Cloud segments. On-premises solutions entail deploying security infrastructure on the organization's premises, offering greater control but requiring significant investment in hardware and maintenance. Conversely, cloud-based MSS solutions leverage remote servers, providing scalability, flexibility, and reduced infrastructure costs. The cloud segment in Vietnam's MSS market holds prominence due to its ability to adapt to dynamic security needs, facilitate remote management, and accommodate evolving cyber threats, making it the larger and increasingly preferred choice among businesses seeking robust security measures.

Vietnam Managed Security Services (MSS) Market – By Enterprises Size

By enterprises sizes, Vietnam Managed Security Services (MSS) Market is divided into Large Enterprises and Small & Medium-sized Enterprises (SMEs) segments. The large enterprises segment stands out as a leading segment, encompassing major corporations and organizations with substantial infrastructural needs and security requirements. The segment typically demands comprehensive and sophisticated security solutions to safeguard their extensive operations and sensitive data. Therefore, it represents a significant portion of the MSS market in Vietnam, indicating the importance of robust cybersecurity measures in the corporate landscape of the country.

Vietnam Managed Security Services (MSS) Market – By End User

By end user, Vietnam Managed Security Services (MSS) Market is divided into BFSI, Healthcare, Manufacturing, Retail, Telecom & IT, and Others (including Government). The Telecom & IT segment is the largest end user segment in the Vietnam Managed Security Services (MSS) Market. The segment encompasses a wide array of services catering to the telecommunications and information technology industries. The services include network security, threat detection and response, compliance management, and more. Given the rapid technological advancements and the critical role of telecommunications and IT infrastructure in modern business operations, it's unsurprising that the sector commands a significant portion of the MSS market in Vietnam.

Competitive Landscape

Major players in the Vietnam Managed Security Services (MSS) Market include NTT DATA, Inc., AT&T Inc., Wipro Limited, Symantec Corporation, Trustwave Holdings Inc., DXC Technology, Accenture plc, Cisco Systems, Inc., Fortinet, Inc., Dell Technologies Inc, HCL Technologies, Tata Consultancy Services, and Fujitsu. To further enhance their market share, these companies employ various strategies, including mergers and acquisitions, partnerships, joint ventures, license agreements, and new product launches.

Recent Developments

• In August 2023 – Schneider Electric, a digital automation and energy management company based in France, launched Managed Security Services (MSS) to meet customer’s demand in operational technology (OT) environments.

 Scope of the Report

By Type

• Fully Managed

• Co-Managed

By Service Type

• Managed IAM

• Managed Vulnerability Management

• Managed Risk & Compliance

• Managed Detection & Response

• Managed Firewall

• Managed IDS/IPS

• Managed SIEM

• Others (including Managed Encryption)

By Deployment Mode

• On-premises

• Cloud

By Enterprises Size

• Large Enterprises

• Small & Medium-sized Enterprises (SMEs)

By End User

• BFSI

• Healthcare

• Manufacturing

• Retail

• Telecom & IT

• Others (including Government)