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South Korea's IT industry at a highly developed stage
South Korea Information Technology Report Q4 2013 - a new market research report on 2014-03-24 07:24:04
South Korea´s IT market is highly developed, with widespread use of IT products and solutions by consumers, public authorities and enterprises. Despite the maturity of the market, we forecast strong growth in 2013, and over our five-year forecast to 2017. We expect the market to expand at a compound annual growth rate (CAGR) of 7.2% over 2013 to 2017, increasing slightly as a share of GDP. Key factors underpinning this positive outlook include:
A favourable policy environment that is promoting emerging technologies such as cloud computing, machine-to-machine (or smart) infrastructure, and Big Data. In addition, consumers have demonstrated a demand for the latest products in the hardware market, most recently devices such as tablets, phablets and hybrids/ultra-thin notebooks. We believe this characteristic of local consumers will drive growth for hardware even though device penetration is already high.
Headline Expenditure Predictions
- Computer Hardware Sales: KRW5,404bn in 2013 to KRW6.623bn in 2017, CAGR of +5.1% in local currency terms. A booming tablet market and indications of growing consumer demand for hybrids and ultra-thin notebooks utilising Windows 8 and Intel´s Haswell chipsets will sustain growth in market value.
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