Internet of Things (IoT) Security Market size was valued at USD 23.5 Billion in 2024 and is forecasted to grow at a CAGR of 14% from 2026 to 2033, reaching USD 71.1 Billion by 2033.
South Korea's Internet of Things (IoT) Security Market has experienced remarkable growth, propelled by the nation's rapid adoption of IoT technologies across various industries. In 2023, the Industrial Internet of Things (IIoT) market in South Korea generated revenues of approximately USD 13.28 billion, with projections indicating a substantial increase to USD 64.91 billion by 2030, reflecting a compound annual growth rate (CAGR) of 25.4%. citeturn0search2
This surge in IoT adoption has heightened the need for robust security measures to protect interconnected devices and networks from cyber threats. IoT security solutions, including encryption, authentication, and intrusion detection systems, have become essential to safeguard data integrity and privacy. The South Korean government has recognized this imperative, implementing policies that emphasize cybersecurity standards and data protection within IoT ecosystems. Initiatives such as the "Smart City Policy" and the "K-ICT IoT Support Center" aim to foster innovation while ensuring secure IoT deployments across sectors. citeturn0search4
Collaboration with international partners further enhances the credibility and effectiveness of South Korea's IoT security measures. In December 2023, South Korea and Singapore signed a memorandum of understanding (MoU) to mutually recognize IoT security certification schemes. This agreement aims to streamline certification processes, reduce costs, and bolster consumer trust in certified IoT products, thereby facilitating smoother market access for South Korean IoT solutions in international markets. citeturn0search1
Various industries in South Korea have distinct IoT security requirements: - Manufacturing: Prioritizes the protection of operational technology and industrial control systems to prevent disruptions in production processes. - Healthcare: Requires stringent security measures to protect sensitive patient data and ensure the reliability of medical devices. - Finance: Focuses on safeguarding financial transactions and customer information against cyber threats. - Transportation: Demands robust security to protect connected vehicles and traffic management systems from potential attacks. - Smart Cities: Necessitates comprehensive security frameworks to protect critical infrastructure and citizen data within urban IoT networks.
Addressing these sector-specific needs, South Korean companies such as Samsung SDS, SK Telecom, KT Corporation, and LG CNS offer comprehensive IoT managed services. These services encompass device management, data analytics, and advanced security management, contributing significantly to the market's growth and the nation's leadership in IoT security solutions. citeturn0search4
In summary, the South Korean IoT security market is characterized by rapid growth, driven by widespread IoT adoption across various sectors. The government's supportive policies, international collaborations, and the proactive role of industry leaders collectively enhance the security landscape, addressing the diverse requirements of industries and fortifying the nation's position in the global IoT security arena.
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Cisco Systems
Intel Corporation
IBM Corporation
Symantec Corporation
Trend Micro
Digicert
Infineon Technologies
ARM Holdings
Gemalto NV
Kaspersky Lab
CheckPoint Software Technologies
Sophos Plc
Advantech
Verizon Enterprise Solutions
Trustwave
INSIDE Secure SA
By the year 2030, the scale for growth in the market research industry is reported to be above 120 billion which further indicates its projected compound annual growth rate (CAGR), of more than 5.8% from 2023 to 2030. There have also been disruptions in the industry due to advancements in machine learning, artificial intelligence and data analytics There is predictive analysis and real time information about consumers which such technologies provide to the companies enabling them to make better and precise decisions. The Asia-Pacific region is expected to be a key driver of growth, accounting for more than 35% of total revenue growth. In addition, new innovative techniques such as mobile surveys, social listening, and online panels, which emphasize speed, precision, and customization, are also transforming this particular sector.
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Growing demand for below applications around the world has had a direct impact on the growth of the South Korea Internet of Things (IoT) Security Market
Network Security
Endpoint Security
Application Security
Cloud Security
Data Security
Identity and Access Management (IAM)
Healthcare
Manufacturing
Retail
Transportation and Logistics
Energy and Utilities
Smart Cities
On-premises
Cloud-based
Hybrid
Hardware
Software
Services
AI and Machine Learning
Blockchain
Encryption Technology
Intrusion Detection System (IDS)
Public Key Infrastructure (PKI)
Asia-Pacific (China, Japan, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam)
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1. Introduction of the South Korea Internet of Things (IoT) Security Market
Overview of the Market
Scope of Report
Assumptions
2. Executive Summary
3. Research Methodology of Verified Market Reports
Data Mining
Validation
Primary Interviews
List of Data Sources
4. South Korea Internet of Things (IoT) Security Market Outlook
Overview
Market Dynamics
Drivers
Restraints
Opportunities
Porters Five Force Model
Value Chain Analysis
5. South Korea Internet of Things (IoT) Security Market, By Type
6. South Korea Internet of Things (IoT) Security Market, By Application
7. South Korea Internet of Things (IoT) Security Market, By Geography
Asia-Pacific
China
Japan
Korea
India
Australia
Indonesia
Thailand
Philippines
Malaysia and Vietnam
8. South Korea Internet of Things (IoT) Security Market Competitive Landscape
Overview
Company Market Ranking
Key Development Strategies
9. Company Profiles
10. Appendix
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