Vietnam Is Improving The Landscape
The startup ecosystem in the APAC region has a real opportunity to embrace the digital transformation revolution, being at the right place at the right time and using the right technology. According to a report by Meticulous Research, the global Digital Transformation Market size, which was worth $695.5 billion in 2023, is projected to achieve a market size of $3,144.9 billion by 2030, growing at a CAGR of 24.1 percent from 2024 to 2030. While this sounds like an amazing opportunity, it comes with challenges in the form of cybersecurity. The average annual cost of cybercrime is expected to increase from $8.4 trillion in 2022 to more than $23 trillion in 2027.
Vietnam was subject to 862 cyber attacks in February 2024, a drop 48.9 percent compared to the same period last year, according to the Ministry of Information and Communications (MIC). However, more than 432,400 Internet Protocol (IP) addresses in the country were found to be in virus-infected computer networks (botnets), which shows an increase of 13 percent over the same period in 2023.
As phishing or social engineering attacks, ransomware, and DDoS attacks continue to pose more significant threats to businesses, SMEs must aggressively watch the segment's dynamic trends to stay ahead. From Extended Detection and Response (XDR) to Security Process Automation, Secure Access Service Edge (SASE), Zero-Trust Network Access (ZTNA), and Cyber Insurance, the solutions providers have a number of trends that drive the market. Organizations need to localize these options and delve deep into their operational
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