This report researches and evaluates the impact of COVID-19 outbreak on the market, including potential opportunities and challenges, drivers, and risks associated with the market. We present a detailed assessment of market growth based on numerous scenarios.
The market report offers a detailed analysis of the market size, country-level market size, segmentation, market growth, market share, competitive landscape, and the impact of the leading players.
The key drivers responsible for the growth of the South Korea internet of things market size include the increasing integration of internet of things in smart cities, smart homes, and smart cars, along with the growing willingness of the population for the adoption of the new technologies and to purchase related devices. The improved ICT infrastructure, tech-friendly people, innovative and diverse setups, followed by the accelerating adoption of the internet of things services in facility management, safety, and environment-related technology, are some other key factors contributing to the market growth. Additionally, the rising sales of wearable devices and smart terminals, including modules and sensors, remote meter reading, facility monitoring, and biometric recognition systems is leading to an upsurge in demand of the internet of things market in South Korea.
The increasing government initiatives to encourage the adoption of the internet of things under the South Korea Information and Communication Technology (K-ICT) strategy and the strong demand for non-licensed low power, long-distance band to interconnect objects of the remote areas, and the development of various infrastructures such as Giga-internet, 5G, and IPv6 to enable the internet of things, are further driving the growth of the market. Furthermore, the growing penetration of the internet and the rising adoption of smartphones in the country is having a positive impact on the market’s growth.
With the outbreak of the COVID-19, there has been a strong demand for IoT, especially in the healthcare and manufacturing sector to minimize the spread of the virus. The leading manufacturers are increasingly opting for IoT based solutions to scale the production up and down according to the demand fluctuation caused due to the temporary shutdown of factories and the significant shift in the consumer’s preference towards essential products and services. Moreover, different IoT-based solutions are being used for monitoring the total coronavirus cases in the country and for the distribution of medical equipment, masks, and other necessary items required in hospitals, healthcare centers, and quarantine centers. According to the South Korea internet of things market report, the increasing number of incidences of security breaches related to the internet of things services and the rising number of data privacy issues are likely to hamper the market growth.
The South Korea Internet of Things Market is split by component, node component, application, network infrastructure, and connectivity technology. For the forecast period, the growth among the segments provides accurate calculations and forecasts for sales by different segments in terms of volume and value. This analysis will help in expanding the business by targeting qualified niche markets.
Segment by Component:
o Data Management
o Real Time Streaming Analytics
o Remote Monitoring
o Security Solution
Data Encryption and Tokenization
Distributed Denial of Service Protection
Identity Access Management
o Network Bandwidth Management
Bundled Network Management
Standalone Network Management
o Professional Service
Support and Maintenance
Deployment and Integration
o Managed Service
o Device Management
o Cloud Platform
o Network Management
o Application Management
Segment by Node Component:
o Inertial Measurement Unit
o Pressure Sensor
o Image Sensor
o Application Processor
o Digital Signal Processor
o Logic Device
o Memory Device
Segment by Application:
Building & Automation
Smart Energy & Utilities
Smart Mobility & Transportation
Government and Defense
Segment by Network Infrastructure:
Ethernet Switch & Routing
Segment by Connectivity Technology:
Bluetooth Low Energy (BLE)
Near Field Communication
Competitive Landscape and Analysis:
The South Korea Internet of Things Market offers detailed information, including company overview, market potential, and total revenue generated. The report will also provide market share, production sites, SWOT analysis, product launch, and other relevant data.
The key players for the South Korea Internet of Things Market are Hewlett Packard Enterprise, Samsung Electronics Co., Ltd., IBM Corporation, Intel Corporation, Cisco Systems, General Electric Company, Qualcomm Technologies, Inc., Microsoft Corporation, PTC Inc., and SAP SE, among others.
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