South Korea Custom Software Development Market Size & Outlook
South Korea custom software development market, 2018-2030 (US$M)
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South Korea custom software development market highlights
- The South Korea custom software development market generated a revenue of USD 1,102.6 million in 2023 and is expected to reach USD 6,041.2 million by 2030.
- The South Korea market is expected to grow at a CAGR of 27.5% from 2024 to 2030.
- In terms of segment, enterprise software was the largest revenue generating solution in 2023.
- Enterprise Software is the most lucrative solution segment registering the fastest growth during the forecast period.
Custom software development market data book summary
| Market revenue in 2023 | USD 1,102.6 million |
| Market revenue in 2030 | USD 6,041.2 million |
| Growth rate | 27.5% (CAGR from 2023 to 2030) |
| Largest segment | Enterprise software |
| Fastest growing segment | Enterprise Software |
| Historical data | 2018 - 2022 |
| Base year | 2023 |
| Forecast period | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Web-based Solutions, Mobile App, Enterprise Software |
| Key market players worldwide | Accenture PLC Class A, Capgemini SE, Cognizant Technology Solutions Corp Class A, HCL Technologies, Infosys Ltd ADR, Microsoft Corp, Thoughtworks Holding Inc, TietoEVRY Corp ADR, Tata Consultancy Services, Brainvire, Iflexion, Infopulse, Magora, Trigent, TRooTech Business Solutions |
Other key industry trends
- In terms of revenue, South Korea accounted for 3.1% of the global custom software development market in 2023.
- Country-wise, U.S. is expected to lead the global market in terms of revenue in 2030.
- In Asia Pacific, China custom software development 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 10,552.0 million by 2030.
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Custom Software Development Market Scope
Custom Software Development Market Companies
| Name | Profile | # Employees | HQ | Website |
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South Korea custom software development 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 custom software development market will help companies and investors design strategic landscapes.
Enterprise software was the largest segment with a revenue share of 58.28% in 2023. Horizon Databook has segmented the South Korea custom software development market based on web-based solutions, mobile app, enterprise software covering the revenue growth of each sub-segment from 2018 to 2030.
The growth of the South Korean market can be attributed to growing initiatives by the government of South Korea aimed at improving the country digital infrastructure.
For instance, in July 2023, South Korea's Ministry of Science and ICT collaborated with the National IT Industry Promotion Agency (NIPA) in an attempt to nurture domestic SaaS companies.
The collaboration aims to help these companies expand internationally and make it easier for SMEs to adopt and grow their cloud services.
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Target buyers of South Korea custom software development market databook
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Our clientele includes a mix of custom software development 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 custom software development market , including forecasts for subscribers. This country databook contains high-level insights into South Korea custom software development market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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South Korea custom software development market size, by solution, 2018-2030 (US$M)
South Korea Custom Software Development Market Outlook Share, 2023 & 2030 (US$M)
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