The analysts forecast the Cloud Computing market in Korea to grow at a CAGR of 22.16 percent over the period 2013-2018. One of the key factors contributing to this market growth is the increase in government initiatives to develop cloud computing facilities in the country. The Cloud Computing market in Korea has also been witnessing the increased demand for private cloud computing. However, the increasing concerns regarding data security could pose a challenge to the growth of this market.
Key vendors dominating this space are Amazon Web Services Inc., KT Corp., Microsoft Corp., and SK Telecom Co. Ltd.
Other vendors mentioned in the report are Computer Sciences Corp., Google Inc., IBM Corp., LG CNS, LG Uplus Corp., and Samsung SDS Co. Ltd.
Commenting on the report, an analyst from the team said: 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.
For more information visit http://www.researchandmarkets.com/research/q3gd5q/cloud_computing
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Source: Research and Markets (via BusinessWire)