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Strong pillar of the Digital New Deal! Information security industry recorded a 6.4% sales growth, turning COVID-19 crisis into an opportunity (Mar. 15)

담당부서 작성자 연락처

- 8.0% in digital security, driven by growth of network security with the rise in contactless service, virtual private networks, 5.7% in physical security, driven by the increase of thermal imagining cameras and contactless entry control amid COVID-19 quarantine efforts

- 8.8% growth in exports, driven by the increased demand in high quality security cameras and increasing cooperation with local suppliers

The Ministry of science and ICT(MSIT) led by Minister Choi Kiyoung and Korea Information Security Industry Association (Association) led by President Lee Dongbum announced the results of the survey of the domestic information security industry* in 2020.

 

* A survey that identifies the market size of the domestic information security industry by conducting market research. The results are used to make projections of the industry. (done yearly by the Association)

 

The number of domestic businesses in information security is 1,283, a 17.3% increase from 1,094 in the previous year, 531 businesses in digital security (12.3%), and 752 businesses in physical security (21.1%).

 

Amid the fast transition to digital economy, the rising market demand and awareness of information security led to the continuous increase of businesses in information security. The average yearly growth rate (from 2016 to 2020) is 10.4%.


The sales volume of the domestic information security industry rose by 6.4% from the previous year. (8.0%from digital security, 5.7% from physical security)

 

The information security industry saw a huge sales volume of network security system development, (KRW 825.9 billion) which was followed by security management system development (11.1%), network security system development (9.7%) and security consulting service (9.2%).

 

  - The COVID-19, in particular, caused a surge in contactless services and spread of working from home culture, increasing the demand for network security systems (access control, virtual private networks)


The physical security industry saw huge sales volume shares of security camera manufacturing (KRW 1 trillion 324 billion) and dispatch security service (KRW 1 trillion 888.8 billion).

 

  - In particular, the demand for thermal imaging cameras went up, driving up the sales from security camera manufacturing, biometric security system manufacturing (4.4%), entry control device manufacturing (6.8%), all of which explains the growth of the contactless entry control sector.


The exports from the information security industry are about KRW 1.9 trillion, 8.8% up from the previous year. The digital security sector grew 19.5% (KRW 146.6 billion) from the previous year, and the physical security sector grew 8.0% (KRW 1 trillion 789.6 billion).


In the information security industry, network security system development recorded KRW 53.1 billion in exports, which is the highest. High growth rates were shown by network security system development (46.4%) and security system maintenancesecurity continuity service 65.2%).

 

  - Along with the fast growth of the contactless service market, increase cooperation with local suppliers led to the increased exports in related solutions such as 5G security, virtual private networks.

 

In the physical security sector, sales growths and growth rates were highest in security camera manufacturing and security storage manufacturing, recording sales of KRW 618 billion and KRW 617.1. billion and sales growth of 11.3% and 10.2%, respectively.

 

  - Exports increased in security cameras, which are getting recognized as highly advanced amid the spread of non-face-to-face, contactless and quarantined related entry systems

 

Son Seung Hyun, Director-General of Cyber Security & Network Policy Bureau at MSIT said that the economic slowdown caused by the COVID-19 gave a hard time to the information security industry last year and there were concerns about the industry recording a reverse growth. But the accelerated digital economy transition and the growth in contactless service led to the raised awareness of security, making the sales and exports of the industry exceed our expectations.

 

He went on to say that the government has established the “K-Cyber quarantine” in February to build a robust quarantine system based on the Digital New Deal strategies released last year and the government will spare no effort in supporting the continued growth of the information security industry.

 

Details regarding the survey of the domestic information security industry are available at Information Security Industry Promotion Portal (www.ksecurity.or.kr) and Korea Information Security Industry Association (www.kisia.or.kr).

 






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