(SEOUL=NEWSIS) IDC Korea, a global provider of market intelligence, advisory services and events for IT, published a report on the outlook for Korea's IT security products on April 7 stating that the IT security products market in Korea will exceed KRW 500 billion in 2019.

The IT security products market in Korea recorded KRW 437 billion in 2015, a 4.1 percent decrease year-on-year. The market saturation of network security products including firewalls and UTM appliances has been attributed to the fall of the market, according to the report.

However, it is expected that Korea's IT security products market will reach KRW 500 billion in 2019 at a 3.2 percent CAGR and KRW 530 billion in 2020.

"The growth of the IT security products market in Korea has declined in 2015 due to the weak sales of network security products and passive investment by domestic companies and organizations. However, the security software sector grew modestly thanks to the increase in security-related solutions," said an IDC Korea researcher.

ironn108@newsis.com