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
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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