South Korea Internet of Things Market – Opportunities & Forecast, 2020–2027

South Korea IoT Market

Growth prospects in South Korean IoT Market look enchanting over the forecast period. The developed telecommunication infrastructure and growing rate of internet penetration in the region will fuel the market growth.

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South Korea IoT Market Dynamics

The considerable factors supplementing the growth of the South Korea internet of things market include the increasing initiatives by the government bodies to encourage the implementation of internet of things via South Korea Information and Communication Technology (K-ICT) strategy. The evolution of various infrastructures, such as, 5G, Giga-internet, and IPv6 to authorize internet of things will further pave the way for market growth. Also, the increasing inclination of individuals towards the endorsement of latest technologies has further stimulated the market growth. Simultaneously, the accelerating penetration of internet and smartphones throughout the nation and the surging demand for low energy, non-authorised, and long distance band to extend objects to distant areas are further driving the South Korean IoT Market Size.

Further, the mounting sales of smart instruments and wearable devices such as facility supervision, distant meter reading, sensors, and biometric identification systems will impel the market growth. Other factors responsible for the market growth are better ICT infrastructure, different and inventive setups and technically competent people, are likely to contribute to the market growth. Besides this, the increasing incorporation of internet of things in smart cities, homes, and cars, as well as the surging acquisition of IoT services in facility management, eco-friendly technology, and security are bolstering the market growth. However, as per the South Korea Internet of Things (IoT) Market Forecast, the aggravating cases of security violations concerned with the internet of things services and data protection issues are hindering the market growth.

South Korea IoT Market Segmentation:

Segmentation by Component

·         Software Solution

o   Data Management

·         Product Data

·         Location Data

·         Customer Data

·         Supplier Data

·         Asset Data

o   Real Time Streaming Analytics

o   Remote Monitoring

·         Security Solution

·         Data Encryption and Tokenization

·         Distributed Denial of Service Protection

·         Identity Access Management

·         Secure Communications

·         Others

o   Network Bandwidth Management

·         Bundled Network Management

·         Standalone Network Management

·         Services

o   Professional Service

·         Support and Maintenance

·         Deployment and Integration

·         Consulting

o   Managed Service

·         Platform

o   Device Management

o   Cloud Platform

o   Network Management

o   Application Management

Segmentation by Node Component

·         Sensor

o   Inertial Measurement Unit

o   Accelerometer

o   Pressure Sensor

o   Image Sensor

o   Others

·         Processor

o   Microprocessor

o   Microcontroller

o   Application Processor

o   Digital Signal Processor

·         Connectivity IC

o   Wireless

o   Wired

o   Logic Device

o   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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