South Korea It Services Market Size & Outlook, 2023-2030
South Korea it services market, 2017-2030 (US$M)
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South Korea it services market highlights
- The South Korea it services market generated a revenue of USD 28,268.0 million in 2023 and is expected to reach USD 61,846.3 million by 2030.
- The South Korea market is expected to grow at a CAGR of 11.8% from 2024 to 2030.
- In terms of segment, reactive it services was the largest revenue generating approach in 2023.
- Proactive IT Services is the most lucrative approach segment registering the fastest growth during the forecast period.
It services market data book summary
| Market revenue in 2023 | USD 28,268.0 million |
| Market revenue in 2030 | USD 61,846.3 million |
| Growth rate | 11.8% (CAGR from 2023 to 2030) |
| Largest segment | Reactive it services |
| Fastest growing segment | Proactive IT Services |
| Historical data | 2017 - 2022 |
| Base year | 2023 |
| Forecast period | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Reactive IT Services, Proactive IT Services |
| Key market players worldwide | Amazon.com Inc, Avaya, Cisco Systems Inc, DXC Technology Co Registered Shs When Issued, Fortinet Inc, Hewlett Packard Enterprise Co, Huawei Technologies, International Business Machines Corp, Juniper Networks Inc, Microsoft Corp, Broadcom Inc, Oracle Corp |
Other key industry trends
- In terms of revenue, South Korea accounted for 2.1% of the global it services market in 2023.
- Country-wise, U.S. is expected to lead the global market in terms of revenue in 2030.
- In Asia Pacific, China it services 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 166,425.9 million by 2030.
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IT Services Market Scope
IT Services Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|
South Korea it services 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 it services market will help companies and investors design strategic landscapes.
Reactive it services was the largest segment with a revenue share of 55.31% in 2023. Horizon Databook has segmented the South Korea it services market based on reactive it services, proactive it services covering the revenue growth of each sub-segment from 2017 to 2030.
The recent growth of the South Korean IT services sector can be attributed to several factors, including the country's expanding GDP, FDI, and highly skilled labor force. South Korea is now placed eighth in terms of competitiveness in digital technology, according to the most recent rankings from the International Institute for Management Development (IMD).
The IT services industry in South Korea is renowned for being cutting-edge and creative. The nation has a long history of supporting technological innovation, a robust technology infrastructure, and a highly educated workforce. The IT services sector in South Korea includes a variety of fields, such as electronics, software development, telecommunications, gaming, and more.
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Target buyers of South Korea it services market databook
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Our clientele includes a mix of it services 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 it services market , including forecasts for subscribers. This country databook contains high-level insights into South Korea it services market from 2017 to 2030, including revenue numbers, major trends, and company profiles.
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South Korea it services market size, by approach, 2017-2030 (US$M)
South Korea IT Services Market Outlook Share, 2023 & 2030 (US$M)
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