IMARC Group's report titled "South Korea Artificial Intelligence Market Report by Offering (Hardware, Software, Services), Technology (Machine Learning, Natural Language Processing, and Others), End Use Industry (IT and Telecom, Healthcare, Retail and E-Commerce, Logistics and Transportation, Manufacturing, Consumer Electronics, BFSI, and Others), and Region 2024-2032". South Korea artificial intelligence market size is projected to exhibit a growth rate (CAGR) of 24.98% during 2024-2032.
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The strong technological infrastructure along with strategic initiatives by government authorities are the factors responsible for the growth of the South Korea artificial intelligence market. Additionally, the government authorities have identified AI as a key constituent of the Fourth Industrial Revolution, investing heavily in AI research and development. Besides this, the demand is further bolstered by initiatives like the Korean New Deal and the AI National Strategy, which aim to position South Korea as a global leader in AI technology. These efforts are fostering innovation and encouraging collaboration between academia, industry, and government institutions. Moreover, the advanced 5G network of the country is facilitating the development and deployment of AI applications, enhancing capabilities in areas such as smart cities, autonomous vehicles, and healthcare.
Private sector investment and consumer adoption are also major drivers of the AI market in South Korea. Leading conglomerates like Samsung, LG, and Hyundai are integrating AI into their products and services, from smart home devices to industrial automation and autonomous driving technologies, which are fueling the market. In addition to this, the rise of AI startups and venture capital funding is stimulating the growth of innovative AI solutions tailored to various industries. Furthermore, the increasing use of AI in customer service, finance, and retail is enhancing operational efficiency and customer experience, thereby escalating the market. Consumer acceptance of AI-driven technologies, such as virtual assistants and personalized recommendations, is high due to the tech-savvy population, which is anticipated to drive the South Korea artificial intelligence market over the forecasted period.
South Korea Artificial Intelligence Market Report Segmentation:
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
Note: If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
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