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.

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.

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.

Research Methodology

The market study of the South Korean IoT market is incorporated by extensive primary and secondary research conducted by the research team. Secondary research has been conducted to refine the available data to breakdown the market in various segments, derive total market size, market forecast, and growth rate. Different approaches have been worked on to derive the market value and market growth rate. Our team collects facts and data related to the market from different geography to provide a better regional outlook. In the report, the country-level analysis is provided by analyzing various regional players, regional tax laws and policies, consumer behavior and macro-economic factors. Numbers extracted from Secondary research have been authenticated by conducting proper primary research. It includes tracking down key people from the industry and interviewing them to validate the data. This enables our analyst to derive the closest possible figures without any major deviations in the actual number. Our analysts try to contact as many executives, managers, key opinion leaders, and industry experts. Primary research brings authenticity to our reports.

Secondary Sources Include:

• Financial reports of companies involved in the market.
• Whitepapers, research-papers, and news blogs.
• Company websites and their product catalog.

The report is intended for existing companies and new entrants into the market, potential investors and venture capitalists, government organizations, and various end-user industries for overall market analysis and competitive analysis. The report provides an in-depth analysis of market size, products offered by the company and future market opportunities. The report will serve as a source for 360-degree analysis of the market thoroughly delivering insights into the market for making better business decisions. 

Market Segmentation:

• South Korean IoT Market Research and Analysis by Infrastructure
• South Korean IoT Market Research and Analysis by Vertical
• South Korean IoT  Market Research and Analysis by Application

The Report Covers:

• Comprehensive research methodology of South Korean IoT market.
• This report also includes a detailed and extensive market overview with key analyst insights.
• An exhaustive analysis of macro and micro factors influencing the market guided by key recommendations.
• Analysis of regional regulations and other government policies impacting South Korean IoT market.
• Insights about market determinants which are stimulating South Korean IoT market.
• Detailed and extensive market segments with regional distribution of forecasted revenues.
• Extensive profiles and recent developments of market players.