South Korea Consumer Electronics Market Size & Outlook
South Korea consumer electronics market, 2018-2030 (US$M)
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South Korea consumer electronics market highlights
- The South Korea consumer electronics market generated a revenue of USD 72,297.5 million in 2023 and is expected to reach USD 125,459.9 million by 2030.
- The South Korea market is expected to grow at a CAGR of 8.2% from 2024 to 2030.
- In terms of segment, smartphones was the largest revenue generating product in 2023.
- E-readers is the most lucrative product segment registering the fastest growth during the forecast period.
Consumer electronics market data book summary
| Market revenue in 2023 | USD 72,297.5 million |
| Market revenue in 2030 | USD 125,459.9 million |
| Growth rate | 8.2% (CAGR from 2023 to 2030) |
| Largest segment | Smartphones |
| Fastest growing segment | E-readers |
| Historical data | 2018 - 2022 |
| Base year | 2023 |
| Forecast period | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Smartphones, Tablets, Desktops, Laptops/Notebooks, Digital Cameras, Hard Disk Drives, Television, E-readers |
| Key market players worldwide | Apple Inc, Asustek Computer Inc DR, BlackBerry Ltd, Canon Inc, Dell Technologies Inc Ordinary Shares - Class C, Alphabet Inc Class A, HP Inc, HTC Corp DR, Huawei Technologies, Lenovo Group Ltd, LG Electronics Inc ADR, Motorola Solutions Inc, Nikon Corp, Panasonic Holdings Corp, Samsung Electronics Co Ltd, Seagate Technology Holdings PLC, Sony Group Corp, Toshiba Corporation, ZTE Corp Class H |
Other key industry trends
- In terms of revenue, South Korea accounted for 6.3% of the global consumer electronics market in 2023.
- Country-wise, China is expected to lead the global market in terms of revenue in 2030.
- In Asia Pacific, China consumer electronics market is projected to lead the regional market in terms of revenue in 2030.
- India is the fastest growing regional market in Asia Pacific and is projected to reach USD 145,592.1 million by 2030.
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Consumer Electronics Market Scope
Consumer Electronics Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|
South Korea consumer electronics market outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to consumer electronics market will help companies and investors design strategic landscapes.
Smartphones was the largest segment with a revenue share of 51.24% in 2023. Horizon Databook has segmented the South Korea consumer electronics market based on smartphones, tablets, desktops, laptops/notebooks, digital cameras, hard disk drives, television, e-readers covering the revenue growth of each sub-segment from 2018 to 2030.
In South Korea, companies such as LG Electronics, Samsung Electronics Co., Ltd., Seoul Semiconductor, and SK Hynix have dominated the market to a significant extent. These players employ various strategies to capitalize on market expansion opportunities, such as mergers & acquisitions, partnerships, and collaborations.
For instance, in December 2022, Coherent, Inc., an optical products company, partnered with the Korea Advanced Institute of Science & Technology (KAIST) and the Electronics and Telecommunications Research Institute (ETRI) to promote partnerships on modern electronic and photonic gadgets, with an emphasis on the Korean market.
The disclosed collaboration will cover various device innovations, leveraging gallium arsenide, silicon carbide, and indium phosphide technology platforms.
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Our clientele includes a mix of consumer electronics market companies, investment firms, advisory firms & academic institutions.
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30% of our revenue is generated working with investment firms and helping them identify viable opportunity areas.
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Approximately 65% of our revenue is generated working with competitive intelligence & market intelligence teams of market participants (manufacturers, service providers, etc.).
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The rest of the revenue is generated working with academic and research not-for-profit institutes. We do our bit of pro-bono by working with these institutions at subsidized rates.
Horizon Databook provides a detailed overview of country-level data and insights on the South Korea consumer electronics market , including forecasts for subscribers. This country databook contains high-level insights into South Korea consumer electronics market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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South Korea consumer electronics market size, by product, 2018-2030 (US$M)
South Korea Consumer Electronics Market Outlook Share, 2023 & 2030 (US$M)
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