The Vietnam cyber insurance market size was valued at USD 4.01 Million in 2025. The industry is expected to grow at a CAGR of 43.10% during the forecast period of 2026-2035 to reach a valuation of USD 144.39 Million by 2035.
The surging emphasis placed by the government on investing in cybersecurity expertise as well as fostering regional and global cooperation for strengthening its efforts against cybercrime will drive the Vietnam cyber insurance market development. In August 2022, the Vietnamese government issued a national cybersecurity strategy, with objectives set for 2025 and 2030, for responding to challenges and crimes in cyberspace. Significant focus has also been laid on maintaining and increasing Vietnam’s ranking on the global cybersecurity index (GCI). The surging interest in online payments and ride-hailing services will also foster the market. According to industry reports, transactions via internet banking in Vietnam surged by 50.7% in volume and 33% in value in the first 11 months of 2024.
Furthermore, the Vietnam cyber insurance market outlook is impacted by the increasing number cyber-attacks and phishing practices due to the rising digital usage. According to industry reports, ransomware attacks encrypted nearly 3 terabytes of data in Vietnam, with estimated losses surpassing USD 10 million in the first half of 2024. Technologies, such as advanced analytics, machine learning and artificial intelligence (AI) are increasingly used for assessing cyber risks of clients, further adding to the regional industry development. In October 2024, AXA XL unveiled a new addition to its cyber insurance coverage across the globe for extending coverage in addressing specific Generative AI risks.
Base Year
Historical Period
Forecast Period
Compound Annual Growth Rate
43.1%
Value in USD Million
2026-2035
*this image is indicative*
| Vietnam Cyber Insurance Market Report Summary |
Description |
Value |
|
Base Year |
USD Million |
2025 |
|
Historical Period |
USD Million |
2019-2025 |
|
Forecast Period |
USD Million |
2026-2035 |
|
Market Size 2025 |
USD Million |
4.01 |
|
Market Size 2035 |
USD Million |
144.39 |
|
CAGR 2019-2025 |
Percentage |
XX% |
|
CAGR 2026-2035 |
Percentage |
43.10% |
|
CAGR 2026-2035 - Market by Region |
South Central Coast |
48.2% |
|
CAGR 2026-2035 - Market by Region |
Red River Delta |
46.1% |
|
CAGR 2026-2035 - Market by Application |
BFSI |
52.3% |
|
CAGR 2026-2035 - Market by Organisation Type |
Small and Medium Size Enterprise |
49.1% |
|
2025 Market Share by Region |
Mekong River Delta |
14.5% |
The Vietnam cyber insurance industry is driven by the strong focus on expanding cybersecurity services on account of the surge in cybercrime across the region. In March 2025, the Vietnamese government introduced the National Cybersecurity Incident Response and Mitigation Alliance for addressing the pressing cybersecurity challenges while enhancing digital safety. The formation of this alliance reflects Vietnam's proactive stance in bolstering its cybersecurity infrastructure amid a surge in cyber threats. By fostering collaboration between public and private sectors, the alliance aims to streamline incident response processes, facilitate the collection of digital evidence, and strengthen the overall digital safety framework.
The rapid strides in the ecommerce sector driven by the growing access to improved broadband and internet services will propel the Vietnam cyber insurance market share. According to industry reports, Vietnam's rate of internet penetration touched 79.1% of the total population during the start of 2024. As ecommerce channels handle large volumes of sensitive customer data, they increasingly encounter data breaches and ransomware attacks, supporting the market growth.
The Vietnam cyber insurance market is poised for expansion with the rising efforts on introducing advanced cybersecurity innovations to cater to both local and international customers. In March 2025, Vietnamese digital service provider Viettel launched its "Make in Vietnam" cybersecurity solutions for the European market. These solutions will assist European companies and organisations in proactively protecting their systems against the evolving cyber threats whilst minimising data loss risks and ensuring business continuity.
The rise in the number of global collaborations for strengthening the cybersecurity capabilities between nations is one of the major Vietnam cyber insurance market trends. In November 2024, Vietnam’s Authority of Information Security (AIS) signed a MoU with the United States’s Cybersecurity and Infrastructure Security Agency (CISA) for enhancing global cybersecurity. This growing commitment to ensure secure cyberspace amid the sophistication and unpredictability of cyber threats will outline the industry growth.
Vietnam's significant investments in digital infrastructure, including the expansion of critical infrastructure, cloud services, and the Internet of Things (IoT), have heightened the urgency for robust cyber risk management. In October 2024, the Vietnamese government approved the Digital Infrastructure Strategy by 2025, with a vision to 2030. This strategy focuses on nationwide deployment of 5G networks, aiming for 99% population coverage by 2030, and emphasizes the development of high-tech zones, R&D centers, and industrial parks. The plan also includes the establishment of hyperscale data centers and international undersea fiber optic cables to enhance global connectivity and data management.
The growth of the Vietnam cyber insurance market may be hindered by the dearth of awareness and subsequent underinvestment in small sized organizations. The lack of regulatory clarity and the presence of underdeveloped cybersecurity infrastructure will also limit the industry expansion to some extent.
The EMR’s report titled “Vietnam Cyber Insurance Market Report and Forecast 2026-2035” offers a detailed analysis of the market based on the following segments:
Breakup by Organization Type
Key Insight: The surging needs to limit cybercrimes in small and medium size enterprises will boost the Vietnam cyber insurance market. According to the National Cyber Security Center of Vietnam, a total of 13,900 incidents were recorded in SMEs across Vietnam in 2023. By investing in cyber risk insurance, these organizations can enhance resilience against cyber risks and safeguard business continuity while protecting their brand.
Breakup by Application
Key Insight: The strong focus on protecting sensitive financial and personal information of customers in the BFSI sector will propel the Vietnam cyber insurance market growth. During the first 10 months of 2024, Vietnam’s Information Security Authority received more than 220,000 reports of online frauds, mainly related to financial and banking scams. Financial institutions are increasingly exposed to cyber threats such as phishing, identity theft, and unauthorized fund transfers, which target both institutional systems and individual users. As digital banking adoption accelerates, the demand for robust cybersecurity frameworks backed by financial risk protection through insurance is rising sharply.
Breakup by Region
Key Insight: The influx of smart city initiatives and the escalating need to prevent phishing and ransomware will play a key role in the expansion of the Southeast Vietnam cyber insurance market. The growing number of small-sized enterprises combined with the surging sophistication of both the public and private sectors will also favour the regional industry growth.
|
CAGR 2026-2035 - Market by |
Region |
| South Central Coast |
48.2% |
| Red River Delta |
46.1% |
| Southeast |
XX% |
| Mekong River Delta |
XX% |
| Others | XX% |
Large Enterprises Driving Cybersecurity Adoption in Vietnam
Large enterprises in Vietnam are expected to witness widespread adoption of cybersecurity services due to their growing role as vital safeguards as they offer comprehensive coverage against cyber extortion. The complex IT infrastructure of large enterprises is also adding to the market growth. In 2024, Vietnam recorded over 659,000 cyberattacks targeting businesses and organizations, with nearly half of surveyed entities experiencing at least one attack. This surge in cyber threats has highlighted the vulnerabilities in complex IT infrastructures, prompting large enterprises to invest in comprehensive cybersecurity measures, including cyber insurance, to safeguard against potential financial and reputational damages.
Healthcare and Retail Sectors Driving Demand in the Market
In healthcare applications, the demand for cyber insurance is growing with the surging usage of digital tools. The rising adoption of electronic health records and digital medical devices is expanding the surface of cyber-attacks in this sector. The jump in ransomware attacks in clinics and hospitals will also prove favourable for the regional market growth.
According to the Vietnam cyber insurance industry analysis, the retail industry's rapid digital transformation, characterised by the adoption of online payment systems and e-commerce platforms, has expanded its vulnerability to cyber incidents. Thus, the retail industry is placing a strong focus on protecting the businesses of clients from cyber threats while maintaining operational continuity, customer trust and a seamless shopping experience. Cyber insurance also offers a critical safety net for retail merchants for providing financial protection and support amid the rise of cyber incidents.
Health and Employment Insurance Trends to Influence Red River Delta Cyber Insurance Market
The rising popularity of health insurance plans due to the strong presence of an ageing population in the Red River Delta region will significantly impact the cyber insurance market in Vietnam. According to industry reports, Hanoi recorded nearly 8,169,748 individuals covered with health insurance in 2024. The expanding working-age labor force and the growing rate of unemployment insurance participation will also benefit the industry growth.
Additionally, the cyber insurance demand in the Mekong River Delta region of Vietnam is expected to grow with rapid strides in smart farming and the growing adoption of digital tools. The significant growth of the digital banking sector and the rise in online shopping platforms will also influence the regional uptake of cyber security solutions.
Key players in Vietnam cyber insurance market are actively expanding their offerings to address the increasing demand for digital risk protection. Companies like Bao Viet Insurance and PetroVietnam Insurance are developing comprehensive policies that cover a range of cyber threats, including data breaches and ransomware attacks. These insurers are also focusing on educating businesses about the importance of cyber insurance as part of a broader risk management strategy. In addition to traditional insurance coverage, these firms are enhancing their services by incorporating risk assessment and mitigation support. This includes providing clients with tools and resources to identify potential vulnerabilities and implement preventive measures. By offering a combination of financial protection and proactive risk management, key players aim to build resilience among Vietnamese businesses against the evolving landscape of cyber threats.
Founded in 1982 and headquartered in London, the United Kingdom, Aon is a British American professional services firm offering a range of risk-mitigation products. The company is a global provider of risk management services and offers risk management, insurance brokerage, and human capital solutions.
Founded in 1964 and headquartered in Hanoi, BaoViet Life Corporation is the largest Vietnamese insurance company. BaoViet is making significant strides in digital transformation, such as the application of process automation for optimizing operations.
Founded in 2019 and headquartered in Stamford, the United States, AXA XL is an American subsidiary of Axa, a global insurance and reinsurance company. AXA has emerged as a leading provider of insurance and reinsurance that offers innovative risk management solutions for businesses worldwide.
Founded in 1985 and headquartered in Zürich, Switzerland, Chubb Group is a world leader in insurance. The firm provides commercial and personal property as well as casualty insurance, personal accident and supplemental health insurance, reinsurance and life insurance.
*Please note that this is only a partial list; the complete list of key players is available in the full report. Additionally, the list of key players can be customized to better suit your needs.*
Other key players in the Vietnam cyber insurance market report are MSIG Insurance (Vietnam) Company Limited, QBE Insurance (Vietnam) Company Limited, and others.
Gain expert insights into Vietnam's rapidly evolving cyber insurance industry. Our report on Vietnam cyber insurance market trends 2026 highlights emerging threats, regulatory changes, and demand drivers shaping the future. Whether you're an insurer, policymaker, or tech leader, download a free sample now to stay ahead with actionable data and forecasts for the Vietnam cyber insurance market. Empower your strategy with Expert Market Research.
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*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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In 2025, the market reached an approximate value of USD 4.01 Million.
The market is projected to grow at a CAGR of 43.10% between 2026 and 2035.
The key strategies of the market are the rising digitalisation, growth of ecommerce, expansion of cybersecurity solutions, surge in global partnerships, and integration of latest technologies.
BFSI sectors occupies a large share in the market owing to the strong focus on protecting sensitive financial and personal information of customers.
The major players in the market are Aon plc, Chubb Group Holdings Inc., MSIG Insurance (Vietnam) Company Limited, AXA XL, Bao Viet Insurance Corporation, QBE Insurance (Vietnam) Company Limited, and others.
Explore our key highlights of the report and gain a concise overview of key findings, trends, and actionable insights that will empower your strategic decisions.
| REPORT FEATURES | DETAILS |
| Base Year | 2025 |
| Historical Period | 2019-2025 |
| Forecast Period | 2026-2035 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
|
| Breakup by Organisation Type |
|
| Breakup by Application |
|
| Breakup by Region |
|
| Market Dynamics |
|
| Competitive Landscape |
|
| Companies Covered |
|
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