The Korean Managed Security Services Market is estimated to surpass $597.68m by 2022 growing at CAGR 20.4% during 2017 to 2022, majorly driven by the need for cyber security in power generation and government sector. The increasing penetration of high speed internet connectivity across the nation followed by the adoption of cloud services is analyzed to further assist the market growth in the future.
What are Managed Security Services (MSS)?
Managed Security Service is a systematic approach to manage an organization’s security needs by providing the network security management which includes virus blocking, spam blocking, intrusion detection, firewalls, virtual private network management and so on. The cost of managed security is less than hiring in-house and full time security experts as it allows sharing the capital infrastructure investment and expertise of various skilled security professionals across multiple organizations.
What are the End Users for Korean Managed Security Services?
The various end users assessed includes Banking Financial Services and Insurance (BFSI), government, healthcare, industrial manufacturing, power and energy, retail and others. The broad range of services considered in the market study are threat, vulnerability, end point security, incident and others. .A comprehensive analysis of these services across various industry verticals have also been included in the report.
Ever increasing cyber threats and risks in the security systems of the organizations along with evolving government regulations on industrial safety and security are escalating the need to invest in the security infrastructure. In this rapidly changing environment, there is a significant growth in dependency on Internet of Things, Big Data, Machine Learning and other advancements across various end users verticals. This is emphasizing the focus of numerous organizations to secure the data at lower operational expenditures. The cost effectiveness and significant reliability of managed security services is paving the way to address these requirements and thereby driving the adoption of MSS
Market Research and Market Trends of Korean Managed Security Services Ecosystem
- South Korean government has increased its security protocols over the recent years owing to the high profile cyber-attacks on Korea Hydro and Nuclear Power (KHNP) in 2014. Along with this there were numerous attacks on government agencies to steal sensitive information which pose a severe danger to the national security and welfare of government officials.
- South Korea’s Ministry of Science and ICT has recently published new guidelines for medical device cybersecurity risk management which would incorporate UL 2900 and other standards such as NIST 800-53, ISO/IEC 27002 and FDA cybersecurity guidelines.
Who are the Major Players?
The companies referred to in the report includes SK Infosec Co. Ltd, Igloo Security, Inc., AhnLab, Inc., Inca Internet Co. Ltd, NPCore, Inc. and so on.
What is our report scope?
The report incorporates in-depth assessment of the competitive landscape, product market sizing, product benchmarking, market trends, product developments, financial analysis, strategic analysis and so on to gauge the impact forces and potential opportunities of the market. Apart from this the report also includes a study of major developments in the market such as product launches, agreements, acquisitions, collaborations, mergers and so on to comprehend the prevailing market dynamics at present and its impact during the forecast period 2018-2023.
All our reports are customizable to your company needs to a certain extent, we do provide 20 free consulting hours along with purchase of each report, and this will allow you to request any additional data to customize the report to your needs.
Key Takeaways from this Report
- Evaluate market potential through analyzing growth rates (CAGR %), Volume (Units) and Value ($M) data given at country level – for product types, end use applications and by different industry verticals.
- Understand the different dynamics influencing the market – key driving factors, challenges and hidden opportunities.
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- Get a quick outlook on the market entropy – M&A’s, deals, partnerships, product launches of all key players for the past 4 years.
- Evaluate the supply-demand gaps, import-export statistics and regulatory landscape for more than top 20 countries globally for the market.