Artificial Intelligence Market- South Korea
Market Statistics
Base Year: 2023
Historical Years: 2018-2023
Forecast Years: 2024-2032
Market Growth Rate: 24.98% (2024-2032)
The approach of the government to fostering the artificial intelligence (AI) ecosystem is impelling the growth of the market in South Korea. According to the latest report by IMARC Group, the South Korea artificial intelligence market size is projected to exhibit a growth rate (CAGR) of 24.98% during 2024-2032.
South Korea Artificial Intelligence Industry Trends and Drivers:
The Growth of the AI Market in South Korea
Government Initiatives
- The South Korean government is actively fostering the AI ecosystem, driving market growth.
- This initiative is supported by significant investments in:
- AI research and development (R&D)
- Infrastructure
- Education
- A national AI strategy has been unveiled, which includes:
- A roadmap for AI development across various sectors.
- Goals to increase AI adoption, foster talent, and promote international collaboration.
- Government commitments include plans to:
- Build AI research centers.
- Support AI startups.
- Enhance AI-related education and training programs.
- Policies such as tax incentives and funding for AI-focused research are designed to:
- Stimulate innovation.
- Attract both domestic and international companies to invest in the South Korean AI market.
Technological Infrastructure
- South Korea's technological infrastructure is among the most advanced globally, providing a strong foundation for AI development.
- Key elements of this infrastructure include:
- High-speed internet penetration.
- A robust 5G network supporting high-speed data transfer and low-latency communication.
- This infrastructure is critical for AI applications such as:
- Autonomous vehicles
- Smart cities
- The Internet of Things (IoT)
Key Market Players and Innovation
- Leading South Korean companies are at the forefront of developing cutting-edge AI technologies, including:
- AI-powered consumer electronics.
- Advanced robotics.
- Autonomous systems.
- The collaboration between tech giants and the startup ecosystem accelerates AI innovation, positioning South Korea as a hub for AI development.
AI Adoption Across Sectors
- AI adoption in South Korea extends beyond the tech industry into sectors such as:
- Healthcare
- Finance
- Manufacturing
- Retail
- Benefits of AI integration in these sectors include:
- Enhanced efficiency.
- Reduced costs.
- Improved customer experiences.
AI in Healthcare
- AI is being used to develop:
- Diagnostic tools.
- Personalized medicine.
- Advanced imaging techniques.
- The rise in chronic and infectious diseases is driving AI adoption in healthcare.
- AI-driven solutions are employed for:
- Contact tracing.
- Predicting virus spread.
- Optimizing vaccine distribution.
Download sample copy of the Report: https://www.imarcgroup.com/south-korea-artificial-intelligence-market/requestsample
South Korea Artificial Intelligence Industry Segmentation:
The report has segmented the market into the following categories:
Offering Insights:
- Hardware
- Software
- Services
Technology Insights:
- Machine Learning
- Natural Language Processing
- Others
End Use Industry Insights:
- IT and Telecom
- Healthcare
- Retail and E-Commerce
- Logistics and Transportation
- Manufacturing
- Consumer Electronics
- BFSI
- Others
Regional Insights:
- Seoul Capital Area
- Yeongnam (Southeastern Region)
- Honam (Southwestern Region)
- Hoseo (Central Region)
- Others
Request for customization: https://www.imarcgroup.com/request?type=report&id=16512&flag=E
Competitive Landscape:
The competitive landscape of the industry has also been examined along with the profiles of the key players.
Key highlights of the Report:
- Market Performance (2018-2023)
- Market Outlook (2024-2032)
- COVID-19 Impact on the Market
- Porter’s Five Forces Analysis
- Strategic Recommendations
- Historical, Current and Future Market Trends
- Market Drivers and Success Factors
- SWOT Analysis
- Structure of the Market
- Value Chain Analysis
- Comprehensive Mapping of the Competitive Landscape
Note: If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
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IMARC Group is a global management consulting firm that helps the world’s most ambitious changemakers to create a lasting impact. The company provide a comprehensive suite of market entry and expansion services. IMARC offerings include thorough market assessment, feasibility studies, company incorporation assistance, factory setup support, regulatory approvals and licensing navigation, branding, marketing and sales strategies, competitive landscape and benchmarking analyses, pricing and cost research, and procurement research.
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