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    South Korea Iot Telecom Services Market

    ID: MRFR/ICT/59244-HCR
    200 Pages
    Aarti Dhapte
    September 2025

    South Korea IoT Telecom Services Market Research Report By Component (Connectivity Technology, Network Management Solution, Services), By Service Type (Device And Application Management, Business Consulting Services, IOT Billing And Subscription, Installation And Integration Services, M2M Billing Services), and By Application (Smart Buildings, Automation, Capillary Network Management, Vehicle Telematics, Energy And Utilities, Smart Healthcare, Others)- Forecast to 2035

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    Summary Table of Contents Segmentation Infographic

    South Korea Iot Telecom Services Market Summary

    The South Korea IoT Telecom Services market is poised for substantial growth, projected to reach 15.23 USD Billion by 2035.

    Key Market Trends & Highlights

    South Korea IoT Telecom Services Key Trends and Highlights

    • The market valuation is estimated at 5.67 USD Billion in 2024, indicating a robust starting point for growth.
    • From 2025 to 2035, the market is expected to grow at a compound annual growth rate of 9.4%.
    • By 2035, the market is anticipated to expand to 15.23 USD Billion, reflecting increasing demand for IoT solutions.
    • Growing adoption of IoT technology due to enhanced connectivity and digital transformation is a major market driver.

    Market Size & Forecast

    2024 Market Size 5.67 (USD Billion)
    2035 Market Size 15.23 (USD Billion)
    CAGR (2025 - 2035) 9.4%

    Major Players

    Samsung Electronics (KR), SK Hynix (KR), LG Electronics (KR), Hyundai Motor Company (KR), Kia Corporation (KR), POSCO (KR), Naver Corporation (KR), Kakao Corp (KR), Hanwha Group (KR)

    South Korea Iot Telecom Services Market Trends

    Government backing, growing connection demands, and 5G technological improvements are some of the major industry drivers propelling the South Korean IoT telecom services market's notable expansion. With a focus on building smart cities and expanding infrastructure to accommodate IoT applications, the South Korean government has been aggressively pushing a digital transformation agenda.

    Telecom companies have been encouraged to engage in IoT as a result, expanding their service offerings to satisfy the increasing demand from customers. The potential for industrial IoT applications and smart home solutions are among the opportunities to be investigated in this industry.

    South Korea is well-positioned to benefit from the need for cutting-edge IoT services, especially in industries like healthcare, agriculture, and transportation, thanks to its high rate of urbanization and tech-savvy populace.

    Recent trends show that IoT devices are becoming more and more commonplace in daily life, helped along by a thriving ecosystem of both domestic and foreign startups and well-established companies. As companies and consumers place a higher priority on data protection in the increasingly linked world, the emphasis on strengthening cybersecurity measures is particularly noteworthy.

    Additionally, telecom providers and tech companies are increasingly working together to create synergies that improve service delivery and innovation. Sustainability practices are also becoming more popular as the market develops, encouraging green IoT solutions that complement South Korea's pledge to lessen carbon emissions.In general, South Korea is positioned as a competitive landscape for IoT telecom services in the upcoming years due to a combination of government efforts, technology improvements, and changing consumer expectations.

    South Korea IoT

    Market Segment Insights

    South Korea

    South Korea IoT Telecom Services Market Segment Insights

    IoT

    IoT Telecom Services Market Component Insights

    The Component segment of the South Korea IoT Telecom Services Market encompasses vital aspects that are crucial for the growth and functionality of the IoT ecosystem within the region. This segmentation highlights three primary areas: Connectivity Technology, Network Management Solution, and Services, each playing a significant role in the operational efficiency of IoT devices and networks.Connectivity Technology serves as the backbone of the IoT infrastructure, facilitating seamless communication between devices and networks.

    As South Korea continues to advance its telecommunications capabilities, the integration of various connectivity technologies such as LPWAN (Low Power Wide Area Network) and 5G networks is becoming pivotal in enhancing data transfer rates and reducing latency. This technological elevation supports the expansive adoption of IoT devices across industries like healthcare, smart cities, and manufacturing.

    Meanwhile, Network Management Solutions are increasingly essential as they ensure the reliable and secure operation of IoT networks. With a growing number of devices connected, effective management of network traffic, security protocols, and device interoperability has become critical.

    IoT

    IoT Telecom Services Market Service Type Insights

    The South Korea IoT Telecom Services Market is experiencing substantial growth, driven largely by advancements in technology and increasing demand for connected devices. Service Type segmentation includes areas such as Device and Application Management, which is crucial for ensuring the smooth operation and efficiency of IoT devices across various sectors.

    Business Consulting Services play a significant role by helping organizations strategize and implement effective IoT solutions that align with their goals. IoT Billing and Subscription services demonstrate the market's shift towards flexible pricing models necessary for the consumption-based nature of IoT services.

    Similarly, Installation and Integration Services are vital for seamless deployment and connectivity of IoT systems, helping businesses reduce downtime and improve operational efficiencies. Additionally, M2M Billing Services cater to the unique billing needs of machine-to-machine communication, addressing the complexities inherent in these transactions.

    IoT

    IoT Telecom Services Market Application Insights

    The South Korea IoT Telecom Services Market has witnessed substantial development in its Application segment, reflecting the diverse capabilities and growing adoption of IoT technologies across industries. Within this framework, Smart Buildings are emerging as a key application, utilizing connected devices to enhance energy efficiency and occupant comfort, ultimately leading to sustainable urban development.

    Automation plays a pivotal role as well, as businesses increasingly leverage IoT-enabled systems to streamline processes and improve operational efficiency. Furthermore, Capillary Network Management is significant in managing extensive networks across various sectors, ensuring efficient resource distribution and connectivity.

    Vehicle Telematics has gained traction, particularly in the automotive sector, optimizing logistics and enhancing safety measures through real-time data transmission. The Energy and Utilities sector benefits from IoT solutions aimed at improving resource management and reducing operational costs.In healthcare, Smart Healthcare applications are transforming patient monitoring and data collection, enhancing service delivery and patient outcomes.

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    Key Players and Competitive Insights

    The South Korea IoT Telecom Services Market is characterized by rapid technological developments and a high level of competition among service providers. As one of the most advanced digital economies globally, South Korea has seen an explosive growth in Internet of Things (IoT) applications across various sectors, including smart homes, healthcare, transportation, and industrial automation.This market is influenced by significant advancements in network infrastructure, with companies continually investing in 5G technology and developing innovative IoT solutions.

    The competitive landscape is marked by both global players and domestic companies vying for market share, leading to a dynamic environment where customer demand for connectivity, reliability, and innovative services drives the evolution of offerings within the sector.

    In the South Korea IoT Telecom Services Market, LG Uplus has established itself as a formidable player with a comprehensive portfolio of services designed to meet the demands of IoT applications. The company has successfully leveraged its advanced 5G infrastructure to provide seamless connectivity and has made significant investments in developing intelligent IoT solutions tailored for various industries.LG Uplus has forged strategic partnerships to enhance its service delivery capabilities and expand its IoT ecosystem.

    The strength of LG Uplus lies in its commitment to innovation and customer satisfaction, which is evidenced by its aggressive rollout of smart solutions aimed at improving efficiency and connectivity for both consumers and enterprises. The company's robust market presence is further enhanced by its focus on user-friendly applications and services, positioning it as a leader in driving IoT adoption in South Korea.

    Key Companies in the South Korea Iot Telecom Services Market market include

    Industry Developments

    At Asia's Smart Factory & Automation World expo in Seoul in February 2023, LG Uplus demonstrated integrated smart factory IoT solutions, highlighting its position as the only mobile carrier providing 5G and AI-based industrial automation services.

    Due to agreements with Hyundai and Kia for linked car services and remote metering via KEPCO, LG Uplus claimed a 39.2% year-over-year increase in IoT customers by August 2023, hitting over 7.1 million lines. Scalable metering, environmental sensing, and public IoT use cases were made possible by LG Uplus's July 2024 completion of NB-IoT deployment in 85 cities.

    It also extended collaborations with KT to create common NB-IoT infrastructure frameworks. LG Uplus introduced its IoT@Home smart home service on LTE networks in October 2024, combining appliance controls, security sensors, energy monitoring, and home hubs into a single mobile app platform.

    In March 2025, LG Uplus partnered with Google Cloud and Amazon Web Services to improve its "ixi-O" AI-powered call assistant with Gemini and Nova language models and jointly establish a Korean sovereign AI-cloud platform.

    In the meantime, KT continued to grow its NB-IoT and AIoT enterprise solutions through the GiGA IoT Alliance, while SK Telecom co-founded the Global Telco AI Alliance and expedited its AI service roadmap with "A.dot." As a local joint venture between Ericsson and LG, Ericsson-LG supported carrier deployments, such as OpenRAN and advancements in 5G infrastructure.

    South Korea IoT

    Market Segmentation

    IoT Telecom Services Market Component Outlook

    • Connectivity Technology
    • Network Management Solution
    • Services

    IoT Telecom Services Market Application Outlook

    • Smart Buildings
    • Automation
    • Capillary Network Management
    • Vehicle Telematics
    • Energy And Utilities
    • Smart Healthcare
    • Others

    IoT Telecom Services Market Service Type Outlook

    • Device And Application Management
    • Business Consulting Services
    • IOT Billing And Subscription
    • Installation And Integration Services
    • M2M Billing Services

    Report Scope

     

    Report Attribute/Metric Source: Details
    MARKET SIZE 2023 1.09(USD Billion)
    MARKET SIZE 2024 1.47(USD Billion)
    MARKET SIZE 2035 4.55(USD Billion)
    COMPOUND ANNUAL GROWTH RATE (CAGR) 10.838% (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, POSCO ICT, Bosch Korea, Samsung Electronics, SK Telecom, Intel, ZTE, Hyundai Telecom, Daum Kakao, Huawei, Cisco Systems, KT Corporation, Naver Corporation, Microsoft, Ericsson
    SEGMENTS COVERED Component, Service Type, Application
    KEY MARKET OPPORTUNITIES Smart city infrastructure development, Industrial IoT solutions expansion, Connected healthcare services growth, Agricultural IoT applications surge, Enhanced cybersecurity services demand
    KEY MARKET DYNAMICS 5G network expansion, Rising smart device penetration, Government support for IoT initiatives, Increasing demand for data analytics, Enhanced security and privacy measures
    COUNTRIES COVERED South Korea

    FAQs

    What is the expected market size of the South Korea IoT Telecom Services Market by 2024?

    The South Korea IoT Telecom Services Market is expected to be valued at approximately 1.47 USD Billion by 2024.

    What will be the projected market size by the year 2035?

    By 2035, the market size for South Korea IoT Telecom Services is projected to reach around 4.55 USD Billion.

    What is the expected compound annual growth rate for the market from 2025 to 2035?

    The South Korea IoT Telecom Services Market is anticipated to experience a CAGR of 10.838% from 2025 to 2035.

    Who are the major players in the South Korea IoT Telecom Services Market?

    Key players in the South Korea IoT Telecom Services Market include LG Uplus, SK Telecom, Samsung Electronics, and Ericsson among others.

    What is the market value of the Connectivity Technology segment in 2024?

    The Connectivity Technology segment of the South Korea IoT Telecom Services Market is valued at approximately 0.59 USD Billion in 2024.

    How much is the Network Management Solution segment expected to be valued by 2035?

    By 2035, the Network Management Solution segment is projected to be valued at around 1.05 USD Billion.

    What will be the expected value of the Services segment in 2024?

    The Services segment within the South Korea IoT Telecom Services Market is expected to be valued at approximately 0.54 USD Billion in 2024.

    What are the key growth drivers for the South Korea IoT Telecom Services Market?

    Key growth drivers include the increasing demand for smart devices and the expansion of internet connectivity across various sectors.

    What are some emerging trends in the South Korea IoT Telecom Services Market?

    Emerging trends include advancements in AI and machine learning, and the proliferation of 5G technology enhancing IoT capabilities.

    What challenges does the South Korea IoT Telecom Services Market currently face?

    Challenges in the market include data security concerns and the need for standardization across different IoT devices and systems.

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