South Korea IoT Market Research Report

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Internet of Things refers to the system including interconnected computing devices and objects, digital and mechanical machines, with unique identifiers (UIDs) and the potential to transmit the data over a network, thus eradicating the requirement of human-to-computer interaction or human-

South Korea IoT Market

The GMI Research predicts that the South Korean IoT Market will perceive an increase in demand over the forecast period. This is because of the accelerating penetration of the internet, the growing prevalence of sophisticated telecommunication infrastructure, and the aggravating usage of the internet of things.

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Introduction of the South Korea IoT Market

Internet of Things refers to the system including interconnected computing devices and objects, digital and mechanical machines, with unique identifiers (UIDs) and the potential to transmit the data over a network, thus eradicating the requirement of human-to-computer interaction or human-to-human. These devices communicate via cloud-based platforms or networks linked to the internet of things.  

Key Players of Market:

  • General Electric Company
  • Cisco Systems
  • Hewlett Packard Enterprise
  • Qualcomm Technologies, Inc.
  • Intel Corporation
  • Samsung Electronics Co., Ltd.
  • Microsoft Corporation
  • IBM Corporation
  • PTC Inc.
  • SAP SE

South Korea IoT Market Dynamics

The growing incorporation of the internet of things in smart homes, cities, and cars and the escalating drift of individuals towards the endorsement of novel technologies and purchase-related devices are the factors supplementing the growth of the South Korea internet of things market. Further, the superior ICT infrastructure, inventive and different setups, technology related to the environment, and technically competent people are bolstering the market growth. Moreover, the accelerating supply of wearable devices and smart terminals such as distant meter reading, biometric identification systems, facility supervision, and module and sensors have raised the demand for the IoT.

Besides this, the surging initiatives and efforts by the government for the internet of things via South Korea Information and communication technology (K-ICT) norms and the aggravating demand for non-licensed less energy, huge-distance band to interlink objects to a distant area, with the establishment of various infrastructures, such as IPv6, 5G, Giga-internet to allow internet of things has energized the market growth. In addition, the accelerating seepage of the internet and smartphones further paves the way for market growth. On the other hand, the soaring cases of security breaches and data protection issues are restraining the South Korea IoT Market Size.

Component Segment Drivers

Based on component, the platform is anticipated to boost at a faster rate because of the increasing rate of adoption of the platform in the internet of things owing to its potential to use and operate an application and offer an extensive set of application-independent functionalities used for the IoT applications. Also, a platform can either be hardware or software to operate the other applications..

South Korea IoT Market Segmentation:

Segmentation by Component
  • Software Solution
  • Data Management
  • Product Data
  • Location Data
  • Customer Data
  • Supplier Data
  • Asset Data
  • Real Time Streaming Analytics
  • Remote Monitoring
  • Security Solution
  • Data Encryption and Tokenization
  • Distributed Denial of Service Protection
  • Identity Access Management
  • Secure Communications
  • Others
  • Network Bandwidth Management
  • Bundled Network Management
  • Standalone Network Management
  • Services
  • Professional Service
  • Support and Maintenance
  • Deployment and Integration
  • Consulting
  • Managed Service
  • Platform
  • Device Management
  • Cloud Platform
  • Network Management
  • Application Management
Segmentation by Node Component
  • Sensor
  • Inertial Measurement Unit
  • Accelerometer
  • Pressure Sensor
  • Image Sensor
  • Others
  • Processor
  • Microprocessor
  • Microcontroller
  • Application Processor
  • Digital Signal Processor
  • Connectivity IC
  • Wireless
  • Wired
  • Logic Device
  • Memory Device
Segmentation by Application
  • Smart Manufacturing
  • Building Automation
  • Connected Logistics
  • Smart Energy Utilities
  • Agriculture
  • Smart Mobility Transportation
  • Government Defense
  • Smart Retail
  • Connected Healthcare
  • Others
Segmentation by Network Infrastructure
  • Storage
  • Server
  • Ethernet Switch Routing
  • Gateway
Segmentation by Connectivity Technology
  • Bluetooth Low Energy (BLE)
  • Wi-fi
  • Near Field Communication
  • Cellular
  • Satellite
  • Others

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