[Click eStock] "Genians, Steady Growth Expected"

Shinhan Investment Corp. analyzed that Genieons, the No. 1 NAC solution provider in Korea, has secured a new growth engine. They newly presented a 'Buy' investment rating and a target price of 18,000 KRW.

Genieons is an information security software company. It possesses NAC (Network Access Control), a network security platform for internal enterprise networks, and EDR (Endpoint Detection and Response) solutions capable of proactive threat detection and infection path analysis.

Jiwoo Baek, a researcher at Shinhan Investment Corp., explained, "Genieons is the No. 1 NAC solution provider in Korea," adding, "As the NAC market grows, investments in NAC by government agencies and enterprises are also increasing." He continued, "Due to market conditions such as an increase in IT personnel, diversification of devices, and expansion of remote work this year, NAC sales are expected to continue growing," and added, "They have secured about 2,400 NAC solution clients."

He emphasized, "Not only new customers but also existing customers are increasing their demand for expanded NAC installations," and stated, "We expect sales growth that exceeds the rate of increase in the number of clients."

Researcher Baek also analyzed, "Currently, the EDR sales ratio is estimated to be around 10%," and "Last year, the number of EDR clients was 139, the largest scale in Korea."

He further noted, "Genieons holds an 84% market share based on the Nara Marketplace, establishing itself as the No. 1 provider in both the public and private sectors," and predicted, "As security investments increase in both public and private sectors, the number of EDR clients will continue to grow."

In 2022, the global EDR market size was approximately 2.16 billion USD, and it is expected to grow at an average annual rate of over 25% for six years. Shinhan Investment Corp. estimates that Genieons will achieve sales of 46.8 billion KRW and operating profit of 9.7 billion KRW this year, representing increases of 24% and 29%, respectively, compared to last year.

This content was produced with the assistance of AI translation services.