Cloud-based Security Solutions is an Emerging Trend in the Cyber Security Market in South Korea: TechNavio Report
March 6, 2014
TechNavio, the independent London-based global research firm, today announced the publication of its research report on the Cyber Security Market in South Korea Market. The report finds cloud-based security solutions is an emerging trend in this market. The analysis is for the forecast period 2014-2018.
As per research analysis, increasing demand for cloud-based security solutions is because of the significant advantages attributed to such solutions. Companies are finding 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.
Speaking on this occasion, one of the senior analyst and co-author of this report said, "The Cyber Security market in South Korea valued at US$3.92 billion in 2013 will be growing due to several factors like increasing need to improve quality of protection amidst rising network security threats and compliance with PCI DSS Regulations. Our vendors will be able to quickly adapt to the latest technological challenges will determine the growth of this market in the coming years."
To determine the scenario for these vendors in the next 3-4 years, TechNavio analysts have conducted in-depth analysis of the impact of market drivers, challenges and trends featuring data on product segmentation, vendor shares, growth rate by revenue and an evaluation of the different buying criteria in the order of importance.
TechNavio is a leading technology research and advisory company with a global coverage. We focus on emerging technology trends that can shape the market. We identify and explain these trends to our customers to help them take better decisions.
TechNavio models the trends using a mix of quantitative and qualitative tools in its proprietary research methodologies. We build forecasts across market segments and geographies based on the trends identified. These forecasts and analysis are used to help our customers identify new and existing opportunities in their markets. We also help customers assess their competitive position in a changing market scenario.
TechNavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape of Cyber Security Market in South Korea. Our analysts obtain the information using a combination of the bottom-up and top-down approaches, besides using in-house market modeling tools. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, re-sellers, and end-users.
Decision makers and influencers in sales & marketing, strategy, product and R&D teams rely on research from TechNavio. We have a large and growing base of happy customers worldwide. Our customers include technology suppliers, end users, consulting companies, investment firms and research institutes.
Founded in 2003, TechNavio has about 200 analysts globally. We cover more than 500 technologies across 80 countries. Our analysts are closely monitoring the market every day by talking to all the industry participants. We have proprietary databases that provide us with a complete perspective of the market. TechNavio develops over 2000 pieces of research deliverables every year.
Rituparna Roy/Arijit Rakshit
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