Reportstack has announced a new market research publication on Cyber Security Market in South Korea 2014-2018. The following companies are the key players in Cyber Security Market in South Korea: Cisco Systems Inc., Fortinet Inc., Juniper Networks Inc., McAfee Inc., Symantec Corp., Trend Micro Inc., AhnLab Inc., and Check Point Software Technologies Ltd.
“One of the major trends witnessed in the market is the growing demand for cloud-based security solutions. This increasing demand is primarily because of the significant advantages attributed to such solutions. Companies also find it difficult to manage standalone or integrated network components because of issues such as budget constraints and the lack of resources and expertise available to address security issues. Hence, companies are increasingly opting for cloud-based IT security solutions that are cost-effective, comply with PCI DSS, and offer round-the-clock monitoring of their systems. Therefore, the increasing demand for cloud-based solutions is expected to contribute to the growth of the Cyber Security market in South Korea during the forecast period.”
According to the report, the growth of the Cyber Security market in South Korea is driven by several factors, one such factor is the need to improve the quality of protection. As the frequency of attacks is increasing, organizations are increasingly implementing IT security solutions to efficiently monitor and provide enhanced protection. The quality of protection can also be improved by outsourcing security responsibilities to service providers with core expertise in this field. Hence, more end-users are adopting IT security services, driving the growth of the market in South Korea.
Further, the report states that despite the impressive growth, vendors in the Cyber Security market in South Korea are facing some serious challenges. One of these major challenges is the high cost of implementation. Despite the potential benefits provided by IT solutions, certain organizations refrain from investing in such solutions owing to the high costs and certain hidden costs involved in the maintenance. Factors such as these discourage end-users from adopting these solutions, thereby affecting the growth of the market in South Korea.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors. For further information on this report, please visit http://www.reportstack.com/product/150094/cyber-security-market-in-south-korea-2014-2018.html