South Korean IoT market is expected to witness a significant growth rate during the forecast period. South Korea has advanced telecommunication infrastructure that is responsible for backing the growth of ICT sector. South Korea also has access to universal broadband, which is estimated to drive the demand for investments that utilize the universal broadband to expand access to cloud based services, this acts as an opportunity in the growth of the market.
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Apart from that, internet penetration rate in South Korea is increasing at a very fast pace. There are 43.27 million internet users in South Korea in 2017; the country is having the total population of around 50 million. The share of South Korea population on internet penetration is around 85.7% and this data is increasing at a very fast pace in forecasted year. Increasing internet users are expected to drive the growth of connected devices and will result in significant market growth.
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South Korean IoT market is segmented on the basis of infrastructure, vertical, and application. Based on the infrastructure, the market is segmented into platform, mobile networks and access technologies, cloud solutions/storage and processing, analytics, and security. Based on the vertical, the market is segmented into healthcare, energy, public & services, transportation, retail, individuals, and others (manufacturing). Healthcare segment includes health, pharmaceuticals segment, and biotechnology. Public & Services includes government, BFSI, others (hospitality and entertainment).transportation segment include aerospace, automotive, rails and systems, and marine. Further, based on the infrastructure, the market is segmented into smart home, smart wearable’s, smart cities, smart grid, IoT industrial internet, IoT connected cars, IoT connected healthcare, and others (toys and drones).
Some of the major players operating in the South Korean IoT market include Dell EMC, Apple Inc., AT&T Inc., and others. These players adopt various organic and inorganic growth strategies such as merger and acquisition and product launch to strengthen their presence in South Korean market.
Market Segmentation
South Korean IoT Market by Infrastructure
- Platform
- Mobile Networks And Access Technologies
- Cloud Solutions/Storage And Processing
- Analytics
- Security
South Korean IoT Market by Vertical
Healthcare
- Health
- Pharmaceuticals Segment
- Biotechnology
- Energy
- Public & Services
- Government
- BFSI
- Others (Hospitality And Entertainment)
- Transportation
- Aerospace
- Automotive
- Rails And Systems
- Marine
- Retail
- Individuals
- Others (Manufacturing)
South Korean IoT Market By Application
- Smart Home
- Smart Wearables
- Smart Cities
- Smart Grid
- IoT Industrial Internet
- IoT Connected Cars
- IoT Connected Healthcare
- Others(Toys And Drones)
Company Profiles
- Samsung Inc.
- Dell EMC
- Amazon Web Services
- AT&T Inc.
- Blackberry
- Cisco systems Inc.
- HCL Technologies
- Ericsson
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