|By Business Wire||
|April 7, 2014 10:37 AM EDT||
Research and Markets (http://www.researchandmarkets.com/research/zx6s6s/cloud_computing) has announced the addition of the "Cloud Computing Market in Korea 2014-2018" report to their offering.
The South Korea Cloud Computing market to grow at a CAGR of 22% to 2018
There is a huge demand for private cloud computing among government agencies and large enterprises in Korea. Government agencies in Korea are concerned about data security and are therefore looking to adopt more of private cloud rather than public. Private cloud infrastructure is dedicated to a single organization and assures a high level of security as it cannot be accessed by other companies in the same data center. Large enterprises in Korea are adopting a private cloud to have a greater control of their data. In case of the public cloud, third-party providers are in charge of the data systems. However, in a private cloud, organizations can themselves maintain and monitor the data systems, which allow them a complete oversight of their data.
According to the report, although there are many factors driving the growth of the Cloud Computing market in Korea, one of the main drivers is the increase in government initiatives to create cloud computing infrastructure in the country. This is mainly to improve performance and reduce the cost of IT of Korean businesses. The government plans to continue investing over the next few years and aims to contribute 10 percent of the Global Cloud Computing market by 2014. The government is not only making the environment favorable for multinational cloud vendors but is also trying to attract local players into the market.
Further, the report states that one of the most common barriers to the growth of the market is the increasing concerns regarding data security. Organizations are anxious about the security of data when storing information on cloud networks or on any other technology platform. There are various forms of storing crucial information but there is always a risk of loss of data. Failure to retrieve the data will lead to a considerable loss.
Key vendors dominating this space are:
- Amazon Web Services Inc.
- KT Corp.
- Microsoft Corp.
SK Telecom Co. Ltd.
Key Topics Covered:
01. Executive Summary
02. List of Abbreviations
03. Scope of the Report
04. Market Research Methodology
06. Market Landscape
07. Public Cloud Market in Korea
08. Private Cloud Market in Korea
09. Buying Criteria
10. Market Growth Drivers
11. Drivers and their Impact
12. Market Challenges
13. Impact of Drivers and Challenges
14. Market Trends
15. Trends and their Impact
16. Vendor Landscape
17. Key Vendor Analysis
For more information visit http://www.researchandmarkets.com/research/zx6s6s/cloud_computing