South Korea Artificial Intelligence Market Overview
According to SPER Market Research, the South Korea Artificial Intelligence Market is estimated to reach USD 4.00 billion by 2033 with a CAGR 14.74%.
Artificial Intelligence (AI) is a branch of computer science that involves the development of intelligent machines that can perform tasks that would typically require human intelligence, such as learning, problem-solving, perception, and decision-making. The goal of AI is to create machines that can function autonomously and adapt to new situations and environments without explicit programming. AI technologies can be classified into several categories, including machine learning, natural language processing, robotics, computer vision, and expert systems. AI has numerous applications across industries, including healthcare, finance, manufacturing, transportation, and entertainment, and has the potential to revolutionize the way we live and work in the future.
Exploring the Growth Drivers of the South Korea Artificial Intelligence Industry
South Korea is emerging as a global leader in the field of artificial intelligence (AI) due to various growth drivers that are fuelling the industry's expansion. One of the key drivers is the country's strong focus on research and development in the field of AI. Additionally, the government has invested heavily in AI-related initiatives, such as the "AI Korea Grand Challenge" and the "AI Hub" project, which aim to support the development of AI technologies and foster innovation. Another driver of the South Korea AI industry is the country's thriving technology ecosystem. South Korea is home to some of the world's largest technology companies, such as Samsung, LG, and SK Telecom, which have the resources and expertise to develop cutting-edge AI technologies. Overall, the combination of government support, strong technology ecosystem, and digital transformation efforts make South Korea a prime location for the growth of the AI industry.
What challenges does the South Korea Artificial Intelligence Market face?
Despite the growth drivers, the South Korea Artificial Intelligence (AI) Market faces several challenges that could hinder its development. One of the key challenges is the shortage of AI talent in the country. While South Korea has a strong education system and produces many highly skilled graduates in science and engineering, there is a shortage of experts in AI-specific fields, such as machine learning and natural language processing. Another challenge facing the South Korea AI market is the lack of data standardization and data privacy concerns. While there is a vast amount of data available in the country, it is often fragmented and unstructured, making it challenging to use for AI applications. Moreover, there are concerns about data privacy and the potential misuse of personal data, which could limit the development of AI technologies in areas such as healthcare and finance.
In what ways has the COVID-19 pandemic affected South Korea Artificial Intelligence Market?
The COVID-19 pandemic has had both positive and negative impacts on the South Korea Artificial Intelligence (AI) Market. On the one hand, the pandemic has accelerated the adoption of AI technologies in various industries, such as healthcare, logistics, and finance. Additionally, AI-based tools have been used to help track and monitor the spread of the virus and to develop vaccines and treatments. On the other hand, the pandemic has also had negative impacts on the South Korea AI market. The economic downturn caused by the pandemic has led to reduced investment in research and development, which could slow down the pace of innovation in the field of AI.
Scope of the Report:
| Report Metric | Details |
| Market size available for years | 2019-2033 |
| Base year considered | 2022 |
| Forecast period | 2023-2033 |
| Segments covered | By End Use Industry, By Technology, By Product and Service
|
| Regions covered | Busan, Daegu, Daejeon, Gyeonggi Province, Seoul
|
| Companies Covered | Amazon Web Services, Inc., Google LLC, Kakao Enterprise, KT Corp, LG Corporation, Microsoft Corporation, Riiid, Inc., Samsung Electronics Co. Ltd, SK Telecom Co., Ltd., Others
|
Key Target Audience:
- Technology Companies
- Government Agencies
- Investors
- Industry Associations
- Academia and Research Institutes
South Korea Artificial Intelligence Market Segmentation:
1. By End Use Industry:
- South Korea Artificial Intelligence Market Value Share and Forecast, By End Use Industry, 2023-2033
- Automotive
- Fintech (Financial Technology)
- Healthcare
- Manufacturing
- Media and Advertising
- Retail
- Security
2. By Technology:
- South Korea Artificial Intelligence Market Value Share and Forecast, By Technology, 2023-2033
- Machine Learning
- Natural Language Processing (NLP)
3. By Product and Service:
- South Korea Artificial Intelligence Market Value Share and Forecast, By Product and Service, 2023-2033
- Hardware
- Software
- Service
4. By Region:
- Busan
- Daegu
- Daejeon
- Gyeonggi Province
- Seoul
Key Topics Covered in the Report:
- South Korea Artificial Intelligence Market Size (FY’2023-FY’2033)
- Overview of South Korea Artificial Intelligence Market
- Segmentation of South Korea Artificial Intelligence Market By End Use Industry (Automotive, Fintech (Financial Technology), Healthcare, Manufacturing, Media and Advertising, Retail, Security, Others)
- Segmentation of South Korea Artificial Intelligence Market By Technology (Machine Learning, Natural Language Processing (NLP), Others)
- Segmentation of South Korea Artificial Intelligence Market By Product and Service (Hardware, Software, Service)
- Statistical Snap of South Korea Artificial Intelligence Market
- Growth Analysis of South Korea Artificial Intelligence Market
- Problems and Challenges in South Korea Artificial Intelligence Market
- Competitive Landscape in the South Korea Artificial Intelligence Market
- Impact of COVID-19 and Demonetization on South Korea Artificial Intelligence Market
- Details on Recent Investment in South Korea Artificial Intelligence Market
- Competitive Analysis of South Korea Artificial Intelligence Market
- Key Players in the South Korea Artificial Intelligence Market
- SWOT Analysis of South Korea Artificial Intelligence Market
- South Korea Artificial Intelligence Market Future Outlook and Projections (FY’2023-FY’2033)
- Recommendations from Analyst
1. Introduction
1.1. Scope of the report
1.2. Market segment analysis
2. Research Methodology
2.1. Research data source
2.1.1. Secondary Data
2.1.2. Primary Data
2.1.3. SPER’s internal database
2.1.4. Premium insight from KOL’s
2.2. Market size estimation
2.2.1. Top-down and Bottom-up approach
2.3. Data triangulation
3. Executive Summary
4. Market Dynamics
4.1. Driver, Restraint, Opportunity, and Challenges analysis
4.1.1. Drivers
4.1.2. Restraints
4.1.3. Opportunities
4.1.4. Challenges
4.2. COVID-19 Impacts of the South Korea Artificial Intelligence Market
5. Market variable and outlook
5.1. SWOT Analysis
5.1.1. Strengths
5.1.2. Weaknesses
5.1.3. Opportunities
5.1.4. Threats
5.2. PESTEL Analysis
5.2.1. Political Landscape
5.2.2. Economic Landscape
5.2.3. Social Landscape
5.2.4. Technological Landscape
5.2.5. Environmental Landscape
5.2.6. Legal Landscape
5.3. PORTER’s Five Forces
5.3.1. Bargaining power of suppliers
5.3.2. Bargaining power of buyers
5.3.3. Threat of Substitute
5.3.4. Threat of new entrant
5.3.5. Competitive rivalry
5.4. Heat Map Analysis
6. Competitive Landscape
6.1. South Korea Artificial Intelligence Market Manufacturing Base Distribution, Sales Area, Product Type
6.2. Mergers & Acquisitions, Partnerships, Product Launch, and Collaboration in South Korea Artificial Intelligence Market
7. South Korea Artificial Intelligence Market, By End Use Industry (USD Million)
7.1. South Korea Artificial Intelligence Market Value Share and Forecast, By End Use Industry, 2023-2033
7.2. Automotive
7.3. Fintech (Financial Technology)
7.4. Healthcare
7.5. Manufacturing
7.6. Media and Advertising
7.7. Retail
7.8. Security
7.9. Others
8. South Korea Artificial Intelligence Market, By Technology (USD Million)
8.1. South Korea Artificial Intelligence Market Value Share and Forecast, By Technology, 2023-2033
8.2. Machine Learning
8.3. Natural Language Processing (NLP)
8.4. Others
9. South Korea Artificial Intelligence Market, By Product and Service (USD Million)
9.1. South Korea Artificial Intelligence Market Value Share and Forecast, By Product and Service, 2023-2033
9.2. Hardware
9.2.1. Memory
9.2.2. Network
9.2.3. Processor
9.3. Software
9.4. Service
10. South Korea Artificial Intelligence Market Forecast, 2019-2033 (USD Million)
10.1. South Korea Artificial Intelligence Market Size and Market Share
11. South Korea Artificial Intelligence Market, By End Use Industry, 2019-2023 (USD Million)
11.1. South Korea Artificial Intelligence Market Size and Market Share by End Use Industry (2019-2026)
11.2. South Korea Artificial Intelligence Market Size and Market Share by End Use Industry (2027-2033)
12. South Korea Artificial Intelligence Market, By Technology, 2019-2023 (USD Million)
12.1. South Korea Artificial Intelligence Market Size and Market Share by Technology (2019-2026)
12.2. South Korea Artificial Intelligence Market Size and Market Share by Technology (2027-2033)
13. South Korea Artificial Intelligence Market, By Product and Service, 2019-2023 (USD Million)
13.1. South Korea Artificial Intelligence Market Size and Market Share by Product and Service (2019-2026)
13.2. South Korea Artificial Intelligence Market Size and Market Share by Product and Service (2027-2033)
14. South Korea Artificial Intelligence Market, By Region, 2019-2023 (USD Million)
14.1. South Korea Artificial Intelligence Market Size and Market Share by Region (2019-2026)
14.2. South Korea Artificial Intelligence Market Size and Market Share by Region (2027-2033)
14.3. Busan
14.4. Daegu
14.5. Daejeon
14.6. Gyeonggi Province
14.7. Seoul
15. Company Profile
15.1. Amazon Web Services, Inc.
15.1.1. Company details
15.1.2. Financial outlook
15.1.3. Product summary
15.1.4. Recent developments
15.2. Google LLC
15.2.1. Company details
15.2.2. Financial outlook
15.2.3. Product summary
15.2.4. Recent developments
15.3. Kakao Enterprise
15.3.1. Company details
15.3.2. Financial outlook
15.3.3. Product summary
15.3.4. Recent developments
15.4. KT Corp
15.4.1. Company details
15.4.2. Financial outlook
15.4.3. Product summary
15.4.4. Recent developments
15.5. LG Corporation
15.5.1. Company details
15.5.2. Financial outlook
15.5.3. Product summary
15.5.4. Recent developments
15.6. Microsoft Corporation
15.6.1. Company details
15.6.2. Financial outlook
15.6.3. Product summary
15.6.4. Recent developments
15.7. Riiid, Inc.
15.7.1. Company details
15.7.2. Financial outlook
15.7.3. Product summary
15.7.4. Recent developments
15.8. Samsung Electronics Co. Ltd
15.8.1. Company details
15.8.2. Financial outlook
15.8.3. Product summary
15.8.4. Recent developments
15.9. SK Telecom Co., Ltd.
15.9.1. Company details
15.9.2. Financial outlook
15.9.3. Product summary
15.9.4. Recent developments
15.10. Others
16. List of Abbreviations
17. Reference Links
18. Conclusion
19. Research Scope
SPER Market Research’s methodology uses great emphasis on primary research to ensure that the market intelligence insights are up to date, reliable and accurate. Primary interviews are done with players involved in each phase of a supply chain to analyze the market forecasting. The secondary research method is used to help you fully understand how the future markets and the spending patterns look likes.
The report is based on in-depth qualitative and quantitative analysis of the Product Market. The quantitative analysis involves the application of various projection and sampling techniques. The qualitative analysis involves primary interviews, surveys, and vendor briefings. The data gathered as a result of these processes are validated through experts opinion. Our research methodology entails an ideal mixture of primary and secondary initiatives.
