[Click eStock] "Igloo, AI Security Monitoring Solution in Focus"

Yuanta Securities analyzed on the 1st that Igloo will continue to grow based on its security monitoring solution utilizing artificial intelligence (AI).

Researcher Son Hyun-jung of Yuanta Securities explained, "Igloo was the first in Korea to launch an AI security monitoring solution," adding, "The average selling price (ASP) is more than 30% higher compared to previous products."

He continued, "The global cybersecurity market is expected to grow at an average annual rate of 9.7%, from $239 billion (approximately 320 trillion KRW) in 2022 to $345.4 billion (approximately 460 trillion KRW) in 2026," and added, "With the advent of the generative AI era, the cybersecurity sector will expand."

He stated, "The cloud security monitoring solution launched in 2021 is provided on Azure through a partnership with Microsoft (MS)," and "SaaS solutions are also being sold to Amazon AWS, KT Cloud, NHN Cloud, and others."

Researcher Son analyzed, "AiR, the AI detection model service released in July 2023, is an AI model developed in-house," and added, "It not only analyzes security data but also combines Chat GPT and AI to provide hybrid information." He predicted, "The increased productivity and efficiency of AiR will lead to a rise in demand for security monitoring services."