The South Korea smart home market is anticipated to exceed US$ 6 Billion by 2025. Smart home is a system that allows home owner to control and monitor different devices in the home including the heating, lighting, security, and entertainment, automatically and sometimes remotely via the Internet. The growth of Smart home market is attributed to factors such as significantly growing IoT market, cost reduction measures enabled by home automation systems, large number of manufacturers expanding their product portfolios, and increasing importance of home monitoring from remote locations. With the increasing demand of smart home devices, security and privacy breach is also increasing. The issues pertaining to privacy and security breach are restraining the growth of the smart home market.
- The South Korea smart home market is likely to more than threefold by the year 2025 from its current level in 2018.
- In South Korea, household penetration for smart home applications is estimated at 20.6% in 2018.
- Increasing mobility is one of the emerging trends driving the smart home market.
South Korea Smart Home Market - By Application Areas
- Smart Appliances captured maximum share of the South Korea smart home market in 2018.
- Home Entertainment is the second largest application segment of the South Korea smart home market, followed by the Security segment.
- Control and Connectivity is the fourth largest application segment of the South Korea smart home market capturing over 15% share in 2018.
- The South Korean smart home control and connectivity segment is expected to show an annual growth rate of 19.4% during the period 2018 - 2025.
- The average revenue per Smart Home in the Smart Appliances segment currently amounts to US$ 416.07.
- The revenue in the South Korean Smart Home Energy Management segment amounts to US$ 170 Million in 2018.
South Korea Smart Home Active Households - By Application Areas
- Control and Connectivity segment captures highest share of the South Korea Smart Home active households in 2018, being followed by Home Entertainment segment.
- Energy Management application captured least share of the Smart Home active households in 2018.
- In the Home Entertainment segment, the number of active households is expected to surpass 3 Million by 2025.
- In South Korea, the household penetration for Security application is estimated at 6.3% in 2018
- In the Smart Appliances segment, the number of active households is expected to reach nearly 6 Million by 2025.
iGATE RESEARCH report titled "South Korea Smart Home Market, Number, Household Penetration & Key Company Analysis - Forecast to 2025" provides a comprehensive assessment of the fast-evolving, high-growth South Korean Smart Home Industry.
This 107 Page report with 42 Figures and 4 Tables has been analyzed from 8 viewpoints:
- 1. South Korea Smart Home Market, Household Penetration & Forecast (2015 - 2025)
- 2. South Korea Smart Home Number & Forecast (2015 - 2025)
- 3. South Korea Smart Home Market Share Analysis - By Application Areas (2015 - 2025)
- 4. South Korea Smart Home Active Households Share - By Application Areas (2015 - 2025)
- 5. South Korea Smart Home Market, Number of Active Households & Households Penetration - By Application Areas (2015 - 2025)
- 6. South Korea National Smart Home Standardization
- 7. South Korea Smart Home - Key Company Profiles
- 8. South Korea Smart Home - Growth Drivers and Challenges
South Korea Smart Home Market - Application Areas
- 1. Control and Connectivity (Home Automation)
- 2. Comfort and Lighting (Home Automation)
South Korea Smart Home - Key Company Profiles
- Samsung Electronics Co., Ltd.
- LG Electronics Inc.
- SK Telecom
- KT Corp
- Hancom MDS Inc. (The former MDS Technology Co., Ltd.)
iGATE RESEARCH employs rigorous primary and secondary research techniques in developing distinctive data sets and research material for business reports. This report is built by using data and information sourced from Proprietary Information Database, Primary and Secondary Research Methodologies, and In house analysis by iGATE Research dedicated team of qualified professionals with deep industry experience and expertise.
- Primary Research Methodologies: Questionnaires, Surveys, Interviews with Individuals, Small Groups, Telephonic Interview, etc.
- Secondary Research Methodologies: Printable and Non-printable sources, Newspaper, Magazine and Journal Content, Government and NGO Statistics, white Papers, Information on the Web, Information from Agencies Such as Industry Bodies, Companies Annual Report, Government Agencies, Libraries and Local Councils and a large number of Paid Databases.