South Korea Cyber Security Market Size & Outlook
South Korea cyber security market, 2018-2030 (US$M)
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South Korea cyber security market highlights
- The South Korea cyber security market generated a revenue of USD 6,962.1 million in 2023 and is expected to reach USD 20,221.9 million by 2030.
- The South Korea market is expected to grow at a CAGR of 16.5% from 2024 to 2030.
- In terms of segment, services was the largest revenue generating component in 2023.
- Hardware is the most lucrative component segment registering the fastest growth during the forecast period.
Cyber security market data book summary
| Market revenue in 2023 | USD 6,962.1 million |
| Market revenue in 2030 | USD 20,221.9 million |
| Growth rate | 16.5% (CAGR from 2023 to 2030) |
| Largest segment | Services |
| Fastest growing segment | Hardware |
| Historical data | 2018 - 2022 |
| Base year | 2023 |
| Forecast period | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Hardware, Software, Services |
| Key market players worldwide | BAE Systems PLC, Broadcom Inc, Check Point Software Technologies Ltd, Cisco Systems Inc, Fortinet Inc, International Business Machines Corp, Lockheed Martin Corp, LogRhythm, McAfee, Palo Alto Networks Inc, Proofpoint, Sophos, Trend Micro Inc |
Other key industry trends
- In terms of revenue, South Korea accounted for 3.1% of the global cyber security market in 2023.
- Country-wise, U.S. is expected to lead the global market in terms of revenue in 2030.
- In Asia Pacific, China cyber security market is projected to lead the regional market in terms of revenue in 2030.
- India is the fastest growing regional market in Asia Pacific and is projected to reach USD 25,868.0 million by 2030.
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Cyber Security Market Scope
Cyber Security Market Companies
| Name | Profile | # Employees | HQ | Website |
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South Korea cyber security market outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to cyber security market will help companies and investors design strategic landscapes.
Services was the largest segment with a revenue share of 57.59% in 2023. Horizon Databook has segmented the South Korea cyber security market based on hardware, software, services covering the revenue growth of each sub-segment from 2018 to 2030.
The market growth in South Korea can be attributed to the increased number of new threats, government regulations, and the proliferation of data generated by consumers. Digital transformation has created a plethora of new opportunities for cyberattacks.
The diversification of technology and the limited availability of skilled cybersecurity professionals are some of the major factors driving the adoption of advanced cybersecurity solutions in the country. IT firms are constantly adopting new technologies such as cloud computing, artificial intelligence, machine learning, and DevOps.
As a result, the demand for outsourcing managed security services is also increasing among enterprises, offering capabilities and assistance that help businesses manage and protect their digital assets, networks, and endpoints from cyber threats.
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Our clientele includes a mix of cyber security market companies, investment firms, advisory firms & academic institutions.
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Horizon Databook provides a detailed overview of country-level data and insights on the South Korea cyber security market , including forecasts for subscribers. This country databook contains high-level insights into South Korea cyber security market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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South Korea cyber security market size, by component, 2018-2030 (US$M)
South Korea Cyber Security Market Outlook Share, 2023 & 2030 (US$M)
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