Vietnam Security Market Overview

Base Year: 2024

Historical Years: 2019-2024

Forecast Years: 2025-2033

Market Size in 2024: USD 601.6 Million

Market Forecast in 2033: USD 1,833.3 Million

Market Growth Rate (2025-33): 13.18%

Vietnam security market size reached USD 601.6 Million in 2024. Looking forward, IMARC Group expects the market to reach USD 1,833.3 Million by 2033, exhibiting a growth rate (CAGR) of 13.18% during 2025-2033. The growing need to protect data stored and processed in cloud, increasing number of cybercrimes, cyberthreats, and data breaches, and rising development of the Internet of Things (IoT) solutions that protect connected devices represent some of the key factors driving the market.

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Vietnam Security Market Trends and Drivers:

Vietnam's security market is in the process of transition from a physical-centric to a holistic converged cyber-physical security approach, which is a result of rapid digital transformation, the increased presence of cloud services in many industries as well as the arrival of more advanced threat actors targeting critical national and industry services. There are other industry estimates which indicate that the cybersecurity sector is projected to grow at a compound annual growth rate (CAGR) of over 15 percent, which is faster than the rest of Asia-Pacific. This is because it is the national government which imposes and drives even tighter regulatory frameworks such as the Cybersecurity Law, compelling banking, finance, energy and transportation organizations in China to harden each of their digital perimeters. A thorough view of the future demand for IT and OT environments will be driven by the insatiable demand for modern security technologies, including Security Information and Event Management (SIEM) solutions, Extended Detection and Response (XDR), and smart threat intelligence platforms powered by artificial intelligence. As a result, companies seek partners that offer integrated security services beyond consent to deliver predictive capabilities that can respond to advanced multi-directional threats.

However, combined with major cities in Vietnam to become smart cities, it also leads to explosive growth of physical security and IoT markets, in large cities like Hanoi or Ho Chi Minh City, and a massive number of clever sensors, AI-based video surveillance systems and smart infrastructures connected to the Internet. Integrated security is indeed a growth market. It is predicted that as clever video analytics becomes the foundation of urban management as well as public safety, the physical security equipment market will grow at a 18%+ compound annual growth rate (CAGR). In general, there is greater interest in smart ecosystems using biometric facial recognition and automated license plate recognition combined with behavioral analytics software. Rather than stand-alone CCTV cameras, ecosystems can handle large volumes of data in real-time. This hyper-connectedness creates more attack vectors so parallel advances in the security of Internet of Things (IoT) devices are equally important. The companies that win in the future will be the ones that can build integrated, physical surveillance and cyber security systems that enable smart cities of the future to be efficient, secure and safe, and not vulnerable to cyber attacks that would shut down key functions of the city.

The migration of security management from in-house to MSSPs is a major trend and defining feature of the Vietnamese security landscape due to the severe lack of cybersecurity talents and the increasing burden of running Security Operation Centers (SOCs). Local surveys estimate that almost 65% of companies cite their number one concern as the lack of skilled professionals. Networks are continuously monitored, incidents are responded to, and vulnerabilities are managed by third-party providers. The skills shortage indicates a big market opportunity that MSSP services are rapidly growing in, with estimates over a 20% annual growth rate. In addition to the better utilization of the world-class type of expertise and state-of-the-art technology as well as a more predictable running cost model, this is starting to be recognized by more organizations. Future areas of focus will include compliance-oriented services for banking (VBSP) and healthcare, the building of organizational resilience, improvement of threat hunting capabilities and the utilization of digital forensics to support rapid remediation and reduce the time to detect and respond to security incidents and breaches.

Vietnam Security Market Industry Segmentation:

System Insights:

• Access Control Systems
• Alarms and Notification Systems
• Intrusion Detection Systems
• Video Surveillance Systems
• Barrier Systems
• Others

Service Insights:

• System Integration and Consulting
• Risk Assessment and Analysis
• Managed Services
• Maintenance and Support

End User Insights:

• Government
• Military and Defense
• Transportation
• Commercial
• Industrial
• Others

Regional Insights:

• Northern Vietnam
• Central Vietnam
• Southern Vietnam

Competitive Landscape:

The competitive landscape of the industry has also been examined along with the profiles of the key players.

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Key highlights of the Report:

• Market Performance (2019-2024)
• Market Outlook (2025-2033)
• COVID-19 Impact on the Market
• Porter’s Five Forces Analysis
• Strategic Recommendations
• Historical, Current and Future Market Trends
• Market Drivers and Success Factors
• SWOT Analysis
• Structure of the Market
• Value Chain Analysis
• Comprehensive Mapping of the Competitive Landscape

Note: If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.

About Us:

IMARC Group is a global management consulting firm that helps the world’s most ambitious changemakers to create a lasting impact. The company provide a comprehensive suite of market entry and expansion services. IMARC offerings include thorough market assessment, feasibility studies, company incorporation assistance, factory setup support, regulatory approvals and licensing navigation, branding, marketing and sales strategies, competitive landscape and benchmarking analyses, pricing and cost research, and procurement research.

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