As per MRFR analysis, the South Korea Internet of Everything Market Size was estimated at 19.63 (USD Billion) in 2023.The South Korea Internet of Everything Market is expected to grow from 25.36(USD Billion) in 2024 to 126.82 (USD Billion) by 2035. The South Korea Internet of Everything Market CAGR (growth rate) is expected to be around 15.756% during the forecast period (2025 - 2035).
Key South Korea Internet of Everything Market Trends Highlighted
South Korea's Internet of Everything market is experiencing significant growth driven by the rapid adoption of advanced technologies and the government's strong push for smart city initiatives. The South Korean government is investing in digital infrastructure and promoting initiatives that enhance connectivity, which is fueling the proliferation of IoT devices across various sectors, such as healthcare, transportation, and manufacturing.
The focus on enhancing urban living through smart technologies presents key market drivers that are reshaping the way services are delivered and consumed. Moreover, the trend of increased connectivity among devices is fostering a robust ecosystem for data sharing and analytics.Companies want to use the Internet of Everything to make their operations more efficient and encourage new ideas.
Companies have a lot of chances to make solutions that meet the needs of local markets as more and more people want to connect devices and systems. As South Korea's industries change, there is a clear chance to use the Internet of Things (IoT) in fields like manufacturing and logistics. This could lower costs and boost productivity. The Internet of Everything market has grown even faster in recent years because South Korea has been a leader in rolling out 5G technology. 5G's high speed and low latency are making it easier for more devices to connect without any problems, which opens up new possibilities for applications.
This advancement is essential as it supports the expansion of smart homes, autonomous vehicles, and connected healthcare solutions. As more South Korean consumers and organizations embrace these advancements, the Internet of Everything market is poised for transformative growth, benefiting both public and private sectors and enhancing overall quality of life.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
South Korea Internet of Everything Market Drivers
Government Initiatives Promoting Internet of Everything
The South Korean government has been actively promoting the Internet of Everything (IoE) through its Digital New Deal policy, which aims to enhance the country's technological infrastructure. As part of this initiative, approximately 20 trillion South Korean Won has been allocated to bolster the country’s digital economy over a span of five years. This significant investment aims to enhance connectivity and support the expansion of Internet of Everything (IoE) technologies, emphasizing smart cities, smart factories, and healthcare innovations.
The South Korea Internet of Everything Market benefits from the government’s sustained focus on Research and Development (R&D), which is projected to increase the adoption of Internet of Everything (IoE) applications. Furthermore, the Ministry of Science and ICT's push towards developing a robust 5G infrastructure also plays a crucial role in supporting the IoE market, as it allows for seamless device connectivity and real-time data transfer, key factors in scaling Internet of Everything (IoE) solutions.
Rise of Smart Home Devices
The increasing consumer demand for smart home devices represents a significant driver for the South Korea Internet of Everything Market. According to the Electronics and Telecommunications Research Institute, approximately 45% of households in South Korea are expected to adopt smart home solutions by 2025.
This is indicative of a growing trend towards automation and energy efficiency within households. Major companies such as Samsung and LG are at the forefront of this transition, consistently innovating and launching new products that feed into the Internet of Everything (IoE) ecosystem.The increasing penetration of smart home devices, characterized by voice-controlled assistants and smart appliances, drives the demand for interconnected devices and ultimately boosts the South Korea Internet of Everything Market.
Proliferation of Industrial Internet of Things
Manufacturing in South Korea is undergoing a transformative shift with the adoption of Industrial Internet of Things (IIoT) technologies. The South Korean manufacturing sector, known for its technological prowess, is expected to witness a 30% increase in IoT-enabled machinery by 2025, according to the Korea Advanced Institute of Science and Technology.
This data reflects a strong trend aimed at enhancing operational efficiency, predictive maintenance, and reducing downtime through interconnected systems.Companies like Hyundai and Samsung are leading the charge, integrating IoT solutions into their supply chains and manufacturing processes. This proliferation of IIoT is a significant driver for the South Korea Internet of Everything Market, as it enhances competitiveness and supports the overall growth of IoT-enabled services and applications.
Internet of Everything Market Component Insights
The South Korea Internet of Everything Market, particularly its Component segment, plays a critical role in driving the overall market growth within the region. This segment encompasses various essential elements, including Hardware, Software/Platform, Connectivity, and Services, each contributing significantly to the comprehensive landscape of Internet of Everything development in South Korea.
The Hardware component provides the physical devices essential for connecting the vast network of devices, and its significance arises from the rapid increase in smart devices and the proliferation of Internet of Things technology in industries such as automotive, manufacturing, and healthcare. The Software/Platform segment is equally vital as it enables the management, analysis, and integration of data generated by these smart devices, thereby facilitating smooth communication and functionality across a multitude of applications.
In collaboration with Hardware, Software/Platform acts as a backbone for process automation, enhancing efficiency and precision across various industrial sectors. Connectivity forms the cornerstone of the entire Internet of Everything infrastructure, particularly in a technologically advanced nation like South Korea, where a robust telecommunications network supports rapid data transmission, making technologies such as 5G integral for real-time applications.
Enhanced connectivity not only provides reliable data sharing among devices but also supports the development of smart cities, leading to more efficient urban management and better quality of life for inhabitants. Services encompass a range of operational and support structures that are crucial for the implementation and sustainability of Internet of Everything solutions. This includes system integration, data analytics, and after-sales support that ensure devices function optimally and adapt to evolving user needs.In South Korea, the emphasis on technological advancement and innovation acts as a catalyst for the Component segment's growth.
The government policies promoting digitization and a significant focus on Research and Development have fostered a conducive environment for technology companies. This is complemented by strong public-private partnerships, aimed at advancing the Internet of Everything ecosystem. Transportation and logistics, healthcare, and smart home segments are adopting these components extensively, creating increased opportunities for infrastructure investments and fostering a competitive market environment.
As the nation embraces digital transformation, the continued evolution of the Internet of Everything market is poised to bring unprecedented changes that improve operational efficiency and consumer experiences across multiple domains. Thus, while each aspect of the Component segment operates uniquely, together they form a cohesive foundation enabling South Korea to emerge as a frontrunner in the global Internet of Everything landscape.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Internet of Everything Market End User Industry Insights
The South Korea Internet of Everything Market is experiencing notable advancements across various end user industries, reflecting a shift towards an interconnected ecosystem. Manufacturing is increasingly integrating IoT technologies, enhancing operational efficiency and minimizing production costs through smart automation. Transportation is leveraging IoT for logistics optimization and real-time tracking, which improves supply chain visibility. The healthcare industry is utilizing IoT for remote patient monitoring and data collection, leading to improved patient outcomes and streamlined workflows.
Retail is embracing the IoT to enhance customer experiences through personalized marketing and smart inventory management systems. Furthermore, the Energy and Utilities sector is implementing IoT solutions to enable smarter grid management and optimize resource allocation. In residential segments, smart home devices are gaining traction, promoting energy efficiency and improved comfort. Government initiatives are driving the collection of data for enhanced urban planning and public safety.
The BFSI sector is adopting IoT for secure transactions and fraud detection, further strengthening consumer trust.Other industries are also exploring IoT applications to foster innovation. Collectively, these sectors represent significant opportunities for growth and transformation within the South Korea Internet of Everything Market, influenced by technological advancements and changing consumer behaviors.
South Korea Internet of Everything Market Key Players and Competitive Insights
The South Korea Internet of Everything Market is characterized by a dynamic and rapidly evolving landscape, spurred by advancements in technology and increasing adoption rates of smart devices. This market encapsulates a wide variety of sectors including telecommunications, smart home devices, and data-driven services that form an interconnected digital ecosystem. As consumer demand navigates towards seamless connectivity, companies within this market are competing intensely to harness innovations and leverage their services.
The competitive insights into this market reveal how companies are positioning themselves through strategic partnerships, differentiated product offerings, and robust customer engagement practices to capture greater market share.LG Uplus has established a formidable presence in the South Korea Internet of Everything Market, focusing mainly on its advancements in telecommunications and smart home solutions. This company has showcased remarkable strengths through its commitment to building the fastest and most reliable networks, including 5G infrastructure, which supports a multitude of connected devices.
Additionally, LG Uplus has made significant investments in smart city projects and IoT applications, which enhance urban living and transport systems, utilizing strong data analytics and AI capabilities. Its ability to integrate diverse services under a unified platform has enabled LG Uplus to cater to both residential consumers and corporations, reinforcing its stronghold in the competitive landscape.Samsung Electronics stands as a pivotal player in the South Korea Internet of Everything Market with a wide array of offerings that include smart home appliances, wearables, and connected devices.
Leveraging its extensive research and development capabilities, Samsung has focused on creating innovative products that seamlessly connect to the Internet of Things ecosystem, enhancing user experiences across the board. The company has built a robust market presence through its SmartThings platform, which enables users to control various devices effortlessly. In terms of strengths, Samsung's extensive distribution network, brand recognition, and commitment to sustainability provide it with a competitive edge. Furthermore, Samsung actively engages in strategic mergers and acquisitions to bolster its capabilities and enhance its IoT solutions, thereby solidifying its leadership position in the South Korean market while driving industry growth.
Key Companies in the South Korea Internet of Everything Market Include
South Korea Internet of Everything Market Developments
The South Korea Internet of Everything Market has recently seen significant developments, particularly among leading players including LG Uplus, Samsung Electronics, and SK Telecom. As of September 2023, LG Uplus has announced partnerships aimed at enhancing its smart factory solutions, reflecting a growing emphasis on automation in production processes. Additionally, Hyundai Motor and Kia Corporation are advancing their initiatives in connected vehicle technologies, with a strong focus on integrating AI and big data into their operational frameworks.
The merger landscape notably features SK Hynix’s acquisition of a semiconductor firm in August 2023, bolstering its capabilities in the Internet of Things sector. Meanwhile, Naver Corporation has been making strides in expanding its cloud services, indicating a robust growth trajectory in this segment. In light of these developments, the market valuation for the Internet of Everything in South Korea has shown signs of expansion, driven by technological integration across various sectors. The government has also been promoting policies to support digital transformation and innovation, further energizing the market dynamics and positioning South Korea as a significant player in the global Internet of Everything landscape.
South Korea Internet of Everything Market Segmentation Insights
| Report Attribute/Metric Source: | Details |
| MARKET SIZE 2023 | 19.63(USD Billion) |
| MARKET SIZE 2024 | 25.36(USD Billion) |
| MARKET SIZE 2035 | 126.82(USD Billion) |
| COMPOUND ANNUAL GROWTH RATE (CAGR) | 15.756% (2025 - 2035) |
| REPORT COVERAGE | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| BASE YEAR | 2024 |
| MARKET FORECAST PERIOD | 2025 - 2035 |
| HISTORICAL DATA | 2019 - 2024 |
| MARKET FORECAST UNITS | USD Billion |
| KEY COMPANIES PROFILED | LG Uplus, Samsung Electronics, SK Telecom, POSCO, CJ Corporation, Hyundai Motor, Kia Corporation, Daum Kakao, LG Electronics, KT Corporation, Naver Corporation, Hanwha Group, SK Hynix, GS Group, Samsung SDS |
| SEGMENTS COVERED | Component, End User Industry |
| KEY MARKET OPPORTUNITIES | Smart city development projects, Advanced healthcare solutions, Enhanced supply chain automation, IoT-enabled consumer devices, 5G network expansion initiatives |
| KEY MARKET DYNAMICS | Rapid technological advancements, Strong government initiatives, Increasing IoT investments, High consumer adoption rates, Integration across industries |
| COUNTRIES COVERED | South Korea |
Frequently Asked Questions (FAQ) :
The South Korea Internet of Everything Market is expected to be valued at 25.36 USD Billion in 2024.
By 2035, the market is projected to reach a value of 126.82 USD Billion.
The expected compound annual growth rate for the South Korea Internet of Everything Market from 2025 to 2035 is 15.756%.
The hardware component is projected to grow from 7.5 USD Billion in 2024 to 37.5 USD Billion by 2035.
Key players in the market include LG Uplus, Samsung Electronics, SK Telecom, POSCO, and Hyundai Motor among others.
The software/platform segment of the South Korea Internet of Everything Market is expected to be valued at 40.0 USD Billion in 2035.
The connectivity segment is estimated to be valued at 5.0 USD Billion in 2024.
The market presents growth opportunities driven by advancements in technology and increasing adoption of connected devices.
The services component is expected to grow from 4.86 USD Billion in 2024 to 24.32 USD Billion by 2035.
Current global market dynamics are influencing investments and innovations within the South Korea Internet of Everything Market.
Leading companies partner with us for data-driven Insights.
Kindly complete the form below to receive a free sample of this Report
Team Lead - Research she holds an experience of about 6+ years in market research and business consulting, working under the spectrum of information communication technology, telecommunications and semiconductor domains. aarti conceptualizes and implements a scalable business strategy and provides strategic leadership to the clients. her expertise lies in market estimation, competitive intelligence, pipeline analysis, customer assessment, etc.
© 2025 Market Research Future ® (Part of WantStats Reasearch And Media Pvt. Ltd.)
