South Korea Artificial Intelligence Market Overview
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 approach of the government to fostering the artificial intelligence (AI) ecosystem is impelling the growth of the market in South Korea. This goal is supported by substantial investments in AI research and development (R&D), infrastructure, and education. The government also unveiled a national AI strategy, which includes a roadmap for AI development across various sectors, focusing on increasing AI adoption, fostering talent, and promoting international collaboration.
The commitment of the government to AI is further evidenced by its plans to invest to build AI research centers, support AI startups, and enhance AI-related education and training programs. Additionally, policies, such as tax incentives and funding for AI-focused research, are designed to stimulate innovation and attract both domestic and international companies to invest in the South Korean AI market. The technological infrastructure of South Korea is among the most advanced in the world, providing a strong foundation for AI development.
The penetration of high-speed internet coupled with a robust 5G network that supports high-speed data transfer and low-latency communication is an essential component for AI applications, such as autonomous vehicles, smart cities, and the Internet of Things (IoT). Key market players in South Korea are at the forefront of developing cutting-edge AI technologies, from AI-powered consumer electronics to advanced robotics and autonomous systems. The synergy between these tech giants and the startup ecosystem further accelerates AI innovation, making South Korea a hub for AI development.
AI adoption in South Korea is not limited to the tech industry. Various sectors, including healthcare, finance, manufacturing, and retail, are increasingly integrating AI to enhance efficiency, reduce costs, and improve customer experiences. In healthcare, AI is being used to develop diagnostic tools, personalized medicine, and advanced imaging techniques. The increasing occurrence of chronic and infectious illnesses is driving AI adoption in healthcare, with AI-driven solutions being employed for contact tracing, predicting virus spread, and optimizing vaccine distribution.
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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
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.
About Us:
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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