South Korea Critical Infrastructure Protection Market Overview, 2029

South Korea Critical Infrastructure Protection Market Overview, 2029

The South Korea Critical Infrastructure Protection Market is growing due to an increasing demand for diverse applications such as physical safety, security video surveillance systems, screening, and scanning. With advancements in cybersecurity measures like encryption and threat intelligence, the market is ready for substantial development and expansion. Government policies promoting secure infrastructures are propelling this growth. Critical infrastructure is constantly threatened by natural and man-made dangers and hazards such as extreme weather, infrastructure, cyberattacks, failing or aging and terrorism threats. Large industrial critical infrastructures rely heavily on internet access for remote monitoring and management. Cyberattacks or other threats to energy infrastructure, telecommunications, transportation, banking, healthcare, and defense can have disastrous implications and hamper the economy. As a result, numerous industries are deploying critical infrastructure protection solutions in their environments to resist cyber and terrorist assaults. Regulation (EU) 2017/1938, for example, addresses a severe gas supply crisis caused by a variety of risk factors, such as terrorism, cyber-attacks, and sabotage, by establishing standards for regional emergency preparedness and risk assessments based on the concept of solidarity. In South Korea, the pandemic has drastically affected the critical and cybersecurity infrastructure protection which is delivered to users and organizations for accelerating cloud adoption and fast-tracking remote workforce. With various end-user industries adopting work from home policy, there has been an increase in critical infrastructure protection industry demand, which includes cloud-based systems. Additionally, the threat of cybercrime has also increased thereby, companies and venture capitalists are investing more in insecurity. Samsung SDS was a subsidiary of Samsung, Samsung SDS provides IT services and solutions with a strong focus on cybersecurity and critical infrastructure protection. LG CNS was another major player, LG CNS offers IT and security solutions tailored to protect critical infrastructure, including cybersecurity services. SK Infosec is part of SK Group, SK Infosec specializes in cybersecurity solutions and consulting, aiming to safeguard critical infrastructure from various cyber threats.

According to the research report ""South Korea Critical Infrastructure Protection Market Overview, 2029,"" published by Bonafide Research, the South Korea critical infrastructure protection market is expected to reach a market size of more than USD 3 Billion by 2029. At present, the increasing focus on international collaborations represents one of the crucial factors impelling the growth of the market in South Korea. Besides this, the integration of Internet of Things (IoT) devices and artificial intelligence (AI) is emerging as a significant trend in critical infrastructure protection. IoT devices provide real-time data, enabling better monitoring and proactive threat detection. AI, on the other hand, enhances the analytical capabilities of critical infrastructure protection systems, enabling predictive modeling and rapid response to potential vulnerabilities. This integration enhances the overall resilience of critical infrastructure against both physical and cyber threats. In addition, the growing emphasis on regulatory compliance and adherence to rules and standards is offering a favorable market outlook in the country. Apart from this, cybercriminals, state-sponsored actors, and hacktivists are continuously refining their tactics, making it imperative for critical infrastructure operators to invest in cutting-edge cybersecurity solutions. The rising incidents of ransomware attacks and data breaches underscore the urgent need for robust protection mechanisms. Additionally, the rising awareness about the potential consequences of attacks on critical infrastructure is fostering a proactive approach towards protection. Governing bodies, businesses, and individuals are increasingly recognizing the interconnectedness of critical systems and the cascading effects of disruptions. Moreover, the increasing need to secure critical assets against potential acts of aggression or sabotage is encouraging regulatory bodies and private entities to invest in advanced critical infrastructure protection solutions, including surveillance systems and perimeter security.

The Physical Security & Safety segment is dominating the critical infrastructure protection market in South Korea since the country is striving to protect critical facilities from tangible threats, such as terrorism, natural disasters, and vandalism. South Korea has strategic importance, high tech infrastructure, and densely populated urban habitats, the physical security measures are required to be taken vigilantly for the safety of assets pertaining to categories such as power grids and transportation systems. Security official leadership is vested in advanced surveillance systems, perimeter security, and access control, an ever-vigilant and proactive measure towards any physical threat that could potentially disrupt operations. The Cybersecurity segment is now fast-growing, given the increasing frequency and sophistication of cyberattacks targeting critical infrastructure. More recently, however, as the level of digitization in South Korea increases and the country grows increasingly dependent on technology, so does the risk, or the perception of the risk, of cyber threats against data grow to the point that it has drawn increased and focused attention to date and network integrity protection. Recent growth of cyber incidents, such as ransomware and advanced persistent threats, makes the investment in cybersecurity products threat detection systems, encryption technologies, and incident response frameworks much faster. This enforcement, additionally, grows due to the stringent requirements and the need for compliance with international norms of cybersecurity. These mark the imperatives of defending against cyber vulnerabilities, which have endangered critical operations and could compromise national security.

The Energy & Power sector, which forms the backline of sustaining the nation's economic and social functions, leads the critical infrastructure protection market in South Korea. South Korea relies heavily on energy for both industrial and residential purposes, hence the need for effective mechanisms for protection against physical and cyber threats. Industry leadership drives investments in advanced security systems for protecting power plants, grid infrastructure and energy distribution networks against the quantum of disruption, to ensure the stability and reliability of energy supplies. The BFSI sector remains a hyper-growth area ever as the nature of cyber threats evolves and regulatory pressures increase. As the digitization of financial services intensifies, so does the threat of cyber-attacks on financial institutions, driving even more importance toward cybersecurity measures that will ensure the safeguarding of sensitive financial data and transaction integrity. Growing and enormous investments in cybersecurity technologies and practices take place to protect financial institutions to comply with stringent regulations, prevent financial fraud, and preserve consumer confidence. The IT & Telecommunications industry are in need of security policies to protect it from physical and cyber-attacks to ensure the reliability of networks and data security. Security solutions are needed in the Government & Defence industry because of their role in national security, public safety, as well as other areas that are faced with ferreting threats. The other networks requiring security solutions are the Transport & Logistics industry which entails transportation networks and supply chains. Just like the Energy & Power sector, robust security against attacks or disruptions is a must for the Oil & Gas industry.

The Solutions segment leads critical infrastructure protection in the market of South Korea and, there is a need to offer overall integrated security activities concerning both the physical and cyber environment. Normally such solutions integrate advanced technology associated with surveillance systems, access control, intrusion detection, and cyber security frameworks for the protection of critical assets. This solution-oriented approach emanates from the need for robust infrastructures in security which has to be made to measure to best be applied a view toward its complex demands such sectors as energy, transportation, and government facilities. This forms the core of integrated solutions that aim to prevent, detect, and respond to threats to maintain reliability and resilience in critical infrastructure. The Service segment is growing, driven by the increasing demand for sustained and post-sale support, maintenance, and management of security systems. With the increasing deployment of advanced security solutions, various organizations are focusing on their specialized services in terms of advanced system integration, security assessment, incident response, and managed security services. Growth in this category is fueled by the necessity of constant monitoring and adaptation to evolving threats, in addition to the complex process of reasoning and responsibility for maintaining and getting the best out of advanced security technologies. Services are critical to supporting the effort to implement security solutions that, in turn, help organizations meet new threats and the sustenance of operational integrity in implementation and ongoing management.

Considered in this report
• Historic year: 2018
• Base year: 2023
• Estimated year: 2024
• Forecast year: 2029

Aspects covered in this report
• Critical Infrastructure Protection market Outlook with its value and forecast along with its segments
• Various drivers and challenges
• On-going trends and developments
• Top profiled companies
• Strategic recommendation

By Security Type
• Physical Security & Safety
• Cybersecurity

By Vertical
• Energy & Power
• BFSI
• IT & Telecommunications
• Government & Defence
• Transport & Logistics
• Oil & Gas
• Other Verticals

By Offering
• Solutions
• Service

The approach of the report:
This report consists of a combined approach of primary and secondary research. Initially, secondary research was used to get an understanding of the market and list the companies that are present in it. The secondary research consists of third-party sources such as press releases, annual reports of companies, and government-generated reports and databases. After gathering the data from secondary sources, primary research was conducted by conducting telephone interviews with the leading players about how the market is functioning and then conducting trade calls with dealers and distributors of the market. Post this; we have started making primary calls to consumers by equally segmenting them in regional aspects, tier aspects, age group, and gender. Once we have primary data with us, we can start verifying the details obtained from secondary sources.

Intended audience
This report can be useful to industry consultants, manufacturers, suppliers, associations, and organizations related to the Critical Infrastructure Protection industry, government bodies, and other stakeholders to align their market-centric strategies. In addition to marketing and presentations, it will also increase competitive knowledge about the industry.