Now Available: South Korea Information Technology Report Q3 2014

From: Fast Market Research, Inc.
Published: Thu Aug 21 2014

The South Korean IT market is forecast to grow at a CAGR of 7. 5 % 2014-2018 to reach a value of KRW 37.9 trn in 2018. Growth rates will be lower than emerging markets in APAC, but considering the advanced state of the South Korean market, these growth rates are robust , particularly in comparison to EU markets . One distinction is the relatively underdeveloped software and services segment in South Korea, which give s great potential for growth when considered in the context of government efforts to promote emerging technologies. Meanwhile, in the hardware market , demand will be supported by short replacement cycles and demand for the latest innovative devices such as tablets and hybrids.

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Headline Expenditure Predictions

* Computer Hardware Sales: KRW14.2trn in 2014 to KRW18.0trn in 2018; compound annual growth rate (CAGR) of +6.1% in local currency terms. Increasing tablet and hybrid notebook demand will make a positive contribution to value growth over the medium term.
* Software Sales: KRW5.5trn in 2014 to KRW7.1trn in 2018, CAGR of 6.7% in local currency terms. The security software market is poised for strong growth due to tensions with North Korea, with local firms expected to benefit.
* IT Services Sales: KRW8.8trn in 2014 to KRW12.8trn in 2018, CAGR of 10.0% in local currency terms. South Korea is developing a leading position in emerging technologies, such as cloud computing, big data analytics and the Internet of Things, which will add to demand for traditional IT services.

Key Trends And Developments

In 2014 the South Korean government announced several measures to boost the development of an Internet of Things (IoT) ecosystem in the country. In May 2014 South Korea announced plans to invest KRW37bn (USD36.08mn) in the development of core IoT technologies i.e. hardware such as micro-electromechanical system (MEMS) sensor chips and broadband sensing devices. The government also unveiled an Internet of Things...

The South Korea Information Technology Report features Business Monitor International (BMI)'s market assessment and independent forecasts covering personal computers and software; semi-conductors, memory chips, integrated circuits and general components; the internet and IT solutions. It analyses analyses regulatory changes (licensing, customs and intellectual property protection) and competitive landscapes comparing IT companies by products, sales, market share, investments, projects and expansion strategies.

BMI's South Korea Information Technology Report provides industry professionals and strategists, corporate analysts, IT associations, government departments and regulatory bodies with independent forecasts and competitive intelligence on the IT industry in South Korea.

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