In the present era, the educated population wants to
live a healthy and wealthy lifestyle with some security measures. For solving
the problem of security, some of the manufactures of IT and ITES sector
introduced home automation technologies which provide applications of security
and automation in the home to some extent. Home automation is also known as
domotics. A system of home automation will support or monitor the lighting,
entertainment systems, climate and applications. The user interface for monitor
of the system uses either wall-mounted terminals, a mobile phone application,
tablet or desktop computers or a Web interface, that may also be manageable
off-site with the help of internet. Moreover, the key players of this market
are playing an important role by doing effective developments in the
specifications and structure of the technology which further make it more
attractive and lead the market demand more efficiently. Nevertheless, this will
increase the market significantly in the coming years.
According to the report analysis, ‘South Korea Smart Home Market, Number,
Household Penetration & Key Company Analysis - Forecast to 2025’ it
is states that there are several key players which are presently functioning in
this market more efficiently for capturing the highest market share in South
Korea with the introduction of new and innovated technologies with so many
applications and easily accessible includesSamsung Electronics Co., Ltd., LG
Electronics Inc., SK Telecom, KT Corp, Hancom MDS Inc. (The former MDS
Technology Co., Ltd.) and several others. Moreover, the key players of this
market are adopting the effective strategies and policies for acquiring the
fastest market growth during the forecasted period after analyzing the key
strategies of other existing players in the market. With the efficient working
of the key players the market is become competitive and enforced the
international investors for investing the huge amount for getting the superior
return on investment.
Nevertheless, many of the focused key players are
benefitted with the joint ventures and mergers and acquisitions by which they
can rule globally and attain the handsome amount of share. In addition, the
South Korea smart home market is expected to surpass USD 6 Billion by 2025.
However, the growth of Smart home market is recognized with the help of some
aspects such as significantly increasing IoT market, cost depletion measures
enabled by home automation systems, large number of manufacturers exploring
their product portfolios, and rising importance of home monitoring from remote
locations.Cumulative mobility is one of the emerging trends driving the smart
home market. For instance, Smart Appliances held maximum share of the South
Korea smart home market in 2018. The average revenue per Smart Home in the
Smart Appliances sector recently amounts to USD 416.07. The revenue in the
South Korean Smart Home Energy Management sector amounts to USD 170 Million in
2018.
With the growing ultimatum of smart home devices,
security and privacy breach is also increasing the market growth more
significantly. Therefore, in the near future, it is expected that the market of
Smart Home in South Korea will increase more positively over the recent few
years.
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Ken Research
Ankur Gupta, Head Marketing & Communications
Sales@kenresearch.com
+91-9015378249
Ken Research
Ankur Gupta, Head Marketing & Communications
Sales@kenresearch.com
+91-9015378249
