South Korea IoT Devices Market was valued at USD 10 Billion in 2022 and is projected to reach USD 35 Billion by 2030, growing at a CAGR of 22% from 2024 to 2030.
The South Korea IoT Devices Market is experiencing rapid growth, driven by technological advancements and the increasing demand for interconnected devices across various industries. The integration of IoT (Internet of Things) technology into everyday devices is transforming the way businesses and consumers interact with technology. South Korea, known for its tech-savvy population and strong infrastructure, is at the forefront of this revolution. The IoT devices market in the country spans multiple sectors, including manufacturing, healthcare, transportation, and smart homes, among others.
One of the key drivers behind the surge in IoT device adoption in South Korea is the industrial sector's growing demand for automation. Industries are incorporating IoT devices into their operations to improve efficiency, reduce operational costs, and increase productivity. For example, manufacturing plants utilize IoT devices for predictive maintenance, which helps in identifying equipment failures before they occur, ultimately minimizing downtime and boosting production rates.
In the healthcare sector, IoT devices are enabling remote patient monitoring and enhancing the management of chronic diseases. With wearable health devices, medical professionals can track patients' vital signs in real-time, allowing for timely intervention and better health outcomes. This is especially critical in a country like South Korea, where an aging population is placing a strain on healthcare resources.
Transportation is another area where IoT devices are making a significant impact. Smart traffic management systems powered by IoT devices help reduce congestion, improve road safety, and ensure efficient use of infrastructure. Additionally, IoT-enabled vehicles are becoming increasingly popular, offering features like autonomous driving and advanced navigation systems that enhance the driving experience.
Finally, the consumer demand for smart home devices is also driving the IoT devices market in South Korea. From smart thermostats to voice-controlled home assistants, consumers are increasingly looking for ways to make their homes more connected and efficient. The rise in popularity of these devices is largely due to their convenience and the growing interest in home automation.
As South Korea continues to lead the charge in the IoT devices market, industries across the board are recognizing the potential for these technologies to transform their operations and improve service delivery. The demand for IoT devices will likely continue to grow, with further advancements in AI, 5G, and cloud computing set to accelerate the adoption of IoT solutions in the country.
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GE
Honeywell
Intel
IBM
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Rockwell Automation
Siemens
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By the year 2030, the scale for growth in the market research industry is reported to be above 120 billion which further indicates its projected compound annual growth rate (CAGR), of more than 5.8% from 2023 to 2030. There have also been disruptions in the industry due to advancements in machine learning, artificial intelligence and data analytics There is predictive analysis and real time information about consumers which such technologies provide to the companies enabling them to make better and precise decisions. The Asia-Pacific region is expected to be a key driver of growth, accounting for more than 35% of total revenue growth. In addition, new innovative techniques such as mobile surveys, social listening, and online panels, which emphasize speed, precision, and customization, are also transforming this particular sector.
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Growing demand for below applications around the world has had a direct impact on the growth of the South Korea IoT Devices Market
Smartphones
Smart Wearables
Connected Home Devices
Smart Healthcare Devices
Smart Agriculture Devices
Industrial IoT Devices
Automotive IoT Devices
Consumer IoT Devices
Wi-Fi
Bluetooth
Zigbee
LPWAN (Low Power Wide Area Network)
Cellular Connectivity
5G
Thread
Others
Healthcare
Retail
Manufacturing
Agriculture
Transportation & Logistics
Energy & Utilities
Building & Home Automation
Consumer Electronics
Smart Homes
Smart Cities
Industrial Automation
Healthcare Monitoring
Asset Tracking
Wearable Health Devices
Supply Chain Management
Fleet Management
Hardware
Software
Services
Asia-Pacific (China, Japan, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam)
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1. Introduction of the South Korea IoT Devices Market
Overview of the Market
Scope of Report
Assumptions
2. Executive Summary
3. Research Methodology of Verified Market Reports
Data Mining
Validation
Primary Interviews
List of Data Sources
4. South Korea IoT Devices Market Outlook
Overview
Market Dynamics
Drivers
Restraints
Opportunities
Porters Five Force Model
Value Chain Analysis
5. South Korea IoT Devices Market, By Type
6. South Korea IoT Devices Market, By Application
7. South Korea IoT Devices Market, By Geography
Asia-Pacific
China
Japan
Korea
India
Australia
Indonesia
Thailand
Philippines
Malaysia and Vietnam
8. South Korea IoT Devices Market Competitive Landscape
Overview
Company Market Ranking
Key Development Strategies
9. Company Profiles
10. Appendix
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