Cracking the Toughest Global Markets: What Makes QueryPie So Confident?

Introduction

In South Korea, global business expansion has become both a natural and essential task for many companies. Given the limited growth potential and scale of the Korean market, growth through global expansion is a logical choice. However, to successfully operate a business in a completely different environment, countless unforeseen variables and complex strategic decisions must be taken into account. Over the course of 20 years, I have accumulated global expansion experience across various industries and have identified the key factors and success elements for global success. From this perspective, I would like to explain why QueryPie is highly likely to succeed in the global market.

Challenges of Global Expansion

There are several reasons why global expansion is challenging, but the key obstacles can be boiled down to: 1) a precise understanding of the market and clear market positioning, 2) talent acquisition based on a deep understanding of the business, 3) the right partnerships and investment structures, and 4) the patience to wait for results. These factors highlight that the existing formula for success cannot simply be applied in new environments. For successful global expansion, a unique strategy that aligns with the characteristics of the market and competitive landscape is crucial.

In this article, we will focus on "a precise understanding of the market and clear market positioning."

QueryPie: The Hidden Gem Poised for Global Success

High Growth Potential in the Global Market

The global cybersecurity market, particularly led by the United States, is a key focus for QueryPie. In countries like Japan, most security solutions rely heavily on American products. For instance, just as American companies like AWS, Azure, and GCP dominate the global cloud services market, many companies worldwide use American cybersecurity solutions. The large market size of the U.S. has allowed it to accumulate substantial experience, making it difficult for software from countries outside of the U.S. to gain a competitive edge in the global market. While Israel has a strong presence with its cybersecurity solution companies, many of these firms are backed by U.S. capital and primarily target the U.S. market, effectively positioning them as U.S.-based companies.

QueryPie’s target market of database and IT asset access control is distinguished from traditional security solutions like VPNs, EDR, and CNAPP. In Korea, the market has matured due to stringent data security regulations, whereas in international markets, it remains in the early stages. Additionally, the shift in IT infrastructure driven by AI, cloud, and various SaaS solutions is increasing the growth potential of these markets. It is rare to have more experience in the Korean market than in the larger U.S. and Japanese markets.

QueryPie's Unique Competitive Advantage

QueryPie’s core strength lies in its integrated access control solution. QueryPie provides three access control solutions—DAC, SAC, and KAC—on a single platform. When WAC is launched by the end of this year 2024, it will integrate four access control solutions. Traditionally, these solutions were often offered separately, but QueryPie’s ability to apply consistent policies and monitor all IT assets enhances both efficiency and security management.

QueryPie has built a competitive edge in the global market by leveraging its experience in Korea's highly regulated security environment. As Keizo (有延), the head of QueryPie Japan, stated, “Just as Japan has the best earthquake-resistant construction technology in the world, Korea’s experience in data security is one of QueryPie’s differentiating strengths.” He emphasizes that the high level of trust built in Japan, and beyond, can be attributed to this experience. Meeting the demands of Korean customers provides QueryPie with the ability to easily meet the expectations of global clients.

Additionally, QueryPie is closely integrated with top-tier global security solutions and cloud services. Its strong understanding of cloud-native technologies reflects its ability to keep pace with rapidly changing technologies and the quick adaptability of its solutions.

Challenges and Strategies for Global Success

Market Understanding and Positioning

The first challenge QueryPie faces in the global market is understanding the local market needs and the specific requirements for database access control. Different countries have varying security regulations and the pace of change in IT infrastructure, requiring a strategic market positioning that reflects these differences.

Responding quickly to different data security regulations and compliance requirements in each country is another crucial challenge. To establish credibility as a data security solution, it is essential to fully comply with the laws and regulations in each region.

One of the most critical aspects of business success is timing. Ultimately, understanding the level of regulatory changes or trends in each country and proactively gauging how customers respond to these changes is the key to improving success rates. QueryPie’s decision to prioritize Japan as its first entry market stemmed from careful observation and numerous meetings about the country’s regulatory changes and market shift toward cloud adoption.

In the case of the U.S. market, awareness and understanding of database access control are relatively low, but it holds the potential to become the largest market in the future. During a meeting in New York in June 2024, companies like Jumpwire and Theom, which were in competition with QueryPie, appeared to be the only ones seriously considering the level of detailed access control provided by QueryPie. However, these companies are lacking in areas such as data source diversity and external solution integration. While U.S. customers' requirements for database access control are currently lower than those of Korean customers, the emergence of these companies indicates the need to closely monitor market shifts.

Comparison Table of QueryPie’s Competitiveness

When breaking down the global market into regions like the U.S., Japan, Southeast Asia, Europe, China, and Australia, understanding the interrelationships between these markets is crucial. To achieve this, it is necessary to continuously listen to feedback from the field and monitor policy changes. There is no more important task than hearing the actual voices of customers.

Conclusion

QueryPie has the potential to secure a favorable position in the global market by effectively responding to the increasing demand for database and IT asset access control solutions, as well as regulatory changes, while leveraging the experience gained in the Korean market. To successfully expand globally, a deep understanding of market growth potential, agile response to regulatory changes, and localized strategies for securing competitiveness are crucial.