• Cat-intel
  • MedIntelliX
  • Consulting
  • Resources
  • About Us
  • News
  • Careers
  • Contact Us
  • Login
    • Request Free Sample ×
    ReportInfographic

    Kindly complete the form below to receive a free sample of this Report

    Leading companies partner with us for data-driven Insights

    clients tt-cursor

    South Korea Open IoT Platform Market

    ID: MRFR/ICT/60414-HCR
    200 Pages
    Aarti Dhapte
    September 2025

    South Korea Open IoT Platform Market Research Report By Deployment Model (Cloud-based, On-premises, Hybrid), By Application (Smart Cities, Industrial Automation, Healthcare, Agriculture), By End Use Industry (Retail, Manufacturing, Transportation, Energy and Utilities) and By Component (Platform, Software, Services)- Forecast to 2035

    Share:
    Download PDF ×

    We do not share your information with anyone. However, we may send you emails based on your report interest from time to time. You may contact us at any time to opt-out.

    South Korea Open IoT Platform Market Research Report- Forecast to 2035 Infographic
    Purchase Options
    $ 4,950.0
    $ 5,950.0
    $ 7,250.0
    Compare License
    Summary Table of Contents Segmentation Infographic

    South Korea Open IoT Platform Market Summary

    The South Korea Open IoT Platform market is poised for substantial growth, projected to reach 1020 USD Million by 2035.

    Key Market Trends & Highlights

    South Korea Open IoT Platform Key Trends and Highlights

    • The market is valued at 360 USD Million 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 9.93%.
    • By 2035, the market is anticipated to expand to 1020 USD Million, reflecting a significant increase in demand.
    • Growing adoption of IoT technologies due to enhanced connectivity is a major market driver.

    Market Size & Forecast

    2024 Market Size 360 (USD Million)
    2035 Market Size 1020 (USD Million)
    CAGR (2025-2035) 9.93%

    Major Players

    Samsung Electronics, SK Telecom, KT Corporation, Naver, LG Electronics, Microsoft, Google Cloud, Amazon Web Services, SAP, Cisco Systems, IBM

    South Korea Open IoT Platform Market Trends

    Several major trends are shaping the South Korea Open IoT Platform Market. These trends show that the country is moving toward digital transformation. The government of South Korea is actively encouraging the use of Internet of Things (IoT) technologies in several areas, such as smart cities, healthcare, and transportation. This government assistance is a major factor in the market, getting both the public and private sectors to put money into IoT solutions. There is much work being done to improve connectivity and interoperability between IoT platforms. 

    Startups that focus on niche IoT solutions are doing well, thanks to subsidies from government programs that aim to encourage technical progress. South Korea's strong technological infrastructure and trained people make it even easier for these changes to happen. As the country's IoT ecosystem grows, it will be important for businesses, schools, and the government to work together to take advantage of new opportunities in this fast-changing market.

    Market Segment Insights

    South Korea Open IoT Platform Market Segment Insights

    South Korea Open IoT Platform Market Segment Insights

    Open IoT Platform Market Deployment Model Insights

    Open IoT Platform Market Deployment Model Insights

    The South Korea Open IoT Platform Market exhibits diverse Deployment Model preferences as organizations seek tailored solutions to optimize their operations. Among the major options, Cloud-based deployment is gaining traction due to its scalability, cost-effectiveness, and ease of access. This model allows businesses to leverage shared resources while minimizing the need for extensive on-site infrastructure. It supports the growing trend of remote working and data analytics, making it a favorable choice for many enterprises. 

    Conversely, On-premises deployment continues to be significant, particularly for industries where data privacy and security are paramount.Many South Korean organizations in regulated sectors prefer this option to maintain control over their data and avoid risks associated with third-party cloud service providers. Furthermore, Hybrid deployment is carving out a notable niche in the market, allowing organizations to combine the strengths of both Cloud-based and On-premises models. 

    Companies can strategically store sensitive data on-site while utilizing the cloud for less sensitive operations, enhancing flexibility and operational efficiency. The South Korea government’s push towards smart cities and advanced infrastructure is also catalyzing the demand for robust Open IoT platforms, enhancing operational capabilities across various sectors.As the market grows, the segment of Deployment Model is expected to evolve further, responding to the dynamic needs of enterprises and the increasingly complex technological landscape in South Korea.

    Source: Primary Research, Secondary Research, Market Research Future Database and Analyst Review

    Open IoT Platform Market Application Insights

    Open IoT Platform Market Application Insights

    The South Korea Open IoT Platform Market shows considerable potential across various applications, reflecting the country's commitment to integrating advanced technology into everyday life. Smart Cities have emerged as a vital area, with the government investing in smart infrastructure to enhance urban living and manage resources efficiently. Industrial Automation is also significant, as Korean industries strive for increased productivity and operational efficiency, bolstered by IoT solutions that facilitate real-time monitoring and predictive maintenance.

    Meanwhile, the Healthcare sector is increasingly adopting IoT for telemedicine and patient monitoring, addressing the growing need for efficient healthcare delivery amidst an aging population. Agriculture is not left behind, as precision farming powered by IoT helps farmers optimize yields and resources, solidifying South Korea's position in the agritech space. As these applications evolve, they create substantial opportunities, driving innovation and bolstering the South Korea Open IoT Platform Market further. The growth trajectory is fostered by government initiatives and public-private partnerships that promote research and development to enhance these applications.

    Open IoT Platform Market End Use Industry Insights

    Open IoT Platform Market End Use Industry Insights

    The South Korea Open IoT Platform Market, particularly in the End Use Industry segment, is characterized by diverse applications across several vital sectors including Retail, Manufacturing, Transportation, and Energy and Utilities. Each of these sectors leverages IoT platforms to enhance efficiency and optimize operations. For instance, in Retail, IoT solutions facilitate inventory management and personalized customer experiences, driving significant engagement. The Manufacturing sector relies heavily on these platforms to streamline processes and improve supply chain management, resulting in reduced costs and improved productivity.

    Meanwhile, Transportation benefits from IoT technologies through smart logistics, allowing for real-time tracking and route optimization, leading to enhanced transportation efficiency. Energy and Utilities also play a crucial role, using IoT to manage consumption patterns and improve energy distribution, which is becoming increasingly important in promoting sustainability.

    The combined influence of these industries showcases the potential for the South Korea Open IoT Platform Market to expand, influenced by the growing digitization efforts in these critical economic sectors.Overall, the robust investment in IoT technologies within South Korea stands as a testament to the significance of these industries in driving market growth and innovation.

    Open IoT Platform Market Component Insights

    Open IoT Platform Market Component Insights

    The Component segment of the South Korea Open IoT Platform Market plays a crucial role in the overall industry ecosystem. This segment includes Platform, Software, and Services, which together enable seamless connectivity and functionality of IoT devices. The Platform aspect is significant as it provides the foundational infrastructure that facilitates interoperability among various devices. Software solutions are essential for data management, analytics, and application development, allowing businesses to extract valuable insights from real-time data.Meanwhile, Services encompass a range of offerings including consulting, implementation, and support, which are critical for optimizing IoT deployments. 

    With the rise of smart city initiatives and the increasing focus on Industry 4.0, the demand for robust and efficient components is strengthening, driving significant advancements in the market. This growth is further fueled by the South Korean government's push towards digital transformation and innovation within the technology sector. The South Korea Open IoT Platform Market segmentation provides a focused approach that highlights the importance of each component in enhancing end-user experience and enabling smart solutions across various industries.The evolving technological landscape requires continuous adaptation and innovation, ensuring that these components remain integral to the market's expansion.

    Get more detailed insights about South Korea Open IoT Platform Market Research Report- Forecast to 2035

    Request Free Sample

    Key Players and Competitive Insights

    The South Korea Open IoT Platform Market has emerged as a dynamic and rapidly expanding sector, driven by the increasing demand for smart connectivity and the integration of IoT technologies into various industries. Companies are heavily investing in developing advanced open platforms that offer scalability, flexibility, and interoperability, creating a highly competitive landscape. 

    As digital transformation accelerates, market players are vying for leadership positions by leveraging innovative solutions, ensuring robust security measures, and establishing strategic partnerships. The competitive insights within this market highlight the importance of technological advancements, user-centric design, and the role of government initiatives in shaping the future of IoT services in South Korea.

    Key Companies in the South Korea Open IoT Platform Market market include

    Industry Developments

    The South Korea Open IoT Platform Market has been experiencing notable developments recently. Samsung Electronics has been pivotal in smart home solutions, significantly growing its market share in the IoT sector. In August 2023, SK Telecom unveiled an upgraded IoT platform aimed at improving data connectivity and analytics for businesses. 

    Notably, in July 2023, LG Electronics and Cisco Systems forged a partnership focused on IoT security, aligning both companies’ strengths to enhance cybersecurity measures in their platform offerings. The overall market valuation of South Korea's IoT sector is witnessing growth, with a reported increase of approximately 15% in 2023 alone, largely attributed to heightened investments from industry leaders including Amazon Web Services and Google Cloud in IoT environments. 

    Furthermore, the South Korean government is actively supporting IoT development through various initiatives aimed at fostering innovation and infrastructure improvements, ensuring the nation remains a key player in the global IoT landscape.

    Market Segmentation

    Open IoT Platform Market Component Outlook

    • Platform
    • Software
    • Services

    Open IoT Platform Market Application Outlook

    • Smart Cities
    • Industrial Automation
    • Healthcare
    • Agriculture

    Open IoT Platform Market Deployment Model Outlook

    • Cloud-based
    • On-premises
    • Hybrid

    Open IoT Platform Market End Use Industry Outlook

    • Retail
    • Manufacturing
    • Transportation
    • Energy and Utilities

    Report Scope

     

    Report Attribute/Metric Source: Details
    MARKET SIZE 2023 303.0(USD Million)
    MARKET SIZE 2024 360.0(USD Million)
    MARKET SIZE 2035 1020.0(USD Million)
    COMPOUND ANNUAL GROWTH RATE (CAGR) 9.93% (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 Million
    KEY COMPANIES PROFILED Hyundai Motor, POSCO ICT, Microsoft, Google Cloud, Samsung Electronics, Amazon Web Services, SK Telecom, Naver, LG Electronics, Hanwha Group, Cisco Systems, Daum Kakao, IBM, KT Corporation
    SEGMENTS COVERED Deployment Model, Application, End Use Industry, Component
    KEY MARKET OPPORTUNITIES Smart city infrastructure deployment, Industrial IoT integration, Healthcare IoT solutions expansion, Enhanced data analytics services, Cybersecurity enhancements for IoT
    KEY MARKET DYNAMICS increased government initiatives, rising smart city projects, growing demand for interoperability, advancements in edge computing, focus on data security and privacy
    COUNTRIES COVERED South Korea

    FAQs

    What is the expected market size of the South Korea Open IoT Platform Market for 2024?

    The expected market size for the South Korea Open IoT Platform Market in 2024 is valued at 360.0 million USD.

    What is the projected market value of the South Korea Open IoT Platform Market by 2035?

    By 2035, the South Korea Open IoT Platform Market is projected to reach a value of 1020.0 million USD.

    What is the expected compound annual growth rate (CAGR) for the South Korea Open IoT Platform Market from 2025 to 2035?

    The expected CAGR for the South Korea Open IoT Platform Market from 2025 to 2035 is 9.93 percent.

    Which segment has the largest market share in the South Korea Open IoT Platform Market?

    The Cloud-based deployment model is anticipated to hold the largest market share in the South Korea Open IoT Platform Market.

    What will be the market value for the Cloud-based segment in 2035?

    The market value for the Cloud-based segment of the South Korea Open IoT Platform Market is expected to be 510.0 million USD by 2035.

    How much is the On-premises segment valued at in 2024 within the market?

    In 2024, the On-premises segment of the South Korea Open IoT Platform Market is valued at 120.0 million USD.

    Who are the key players operating in the South Korea Open IoT Platform Market?

    Key players in the South Korea Open IoT Platform Market include Hyundai Motor, Microsoft, Samsung Electronics, and Amazon Web Services.

    What challenges are anticipated for the South Korea Open IoT Platform Market going forward?

    Challenges in the South Korea Open IoT Platform Market may include data security concerns and the need for interoperability among diverse IoT devices.

    What is the projected growth for the Hybrid deployment model by 2035?

    The Hybrid deployment model of the South Korea Open IoT Platform Market is projected to reach a value of 170.0 million USD by 2035.

    What opportunities exist for emerging technologies within the South Korea Open IoT Platform Market?

    Emerging technologies in the South Korea Open IoT Platform Market present opportunities for innovation in smart city applications and industrial automation.

    Report Infographic
    Free Sample Request

    Kindly complete the form below to receive a free sample of this Report

    Related Reports

    No regional reports available for this market.

    No country-specific reports available for this market.

    Customer Strories

    “I am very pleased with how market segments have been defined in a relevant way for my purposes (such as "Portable Freezers & refrigerators" and "last-mile"). In general the report is well structured. Thanks very much for your efforts.”

    Victoria Milne Founder
    Case Study

    Chemicals and Materials

    Global Magnesium Sulfate Market – Forecast till 2027