South Korea Machine Learning Market Size & Outlook
South Korea machine learning market, 2018-2030 (US$M)
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South Korea machine learning market highlights
- The South Korea machine learning market generated a revenue of USD 1,046.8 million in 2023 and is expected to reach USD 19,602.9 million by 2030.
- The South Korea market is expected to grow at a CAGR of 52% from 2024 to 2030.
- In terms of segment, services was the largest revenue generating component in 2023.
- Services is the most lucrative component segment registering the fastest growth during the forecast period.
Machine learning market data book summary
| Market revenue in 2023 | USD 1,046.8 million |
| Market revenue in 2030 | USD 19,602.9 million |
| Growth rate | 52% (CAGR from 2023 to 2030) |
| Largest segment | Services |
| Fastest growing segment | Services |
| Historical data | 2018 - 2022 |
| Base year | 2023 |
| Forecast period | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Solution, Services |
| Key market players worldwide | Amazon.com Inc, Baidu Inc ADR, Alphabet Inc Class A, Hewlett Packard Enterprise Co, Intel Corp, International Business Machines Corp, Microsoft Corp, SAS, SAP SE |
Other key industry trends
- In terms of revenue, South Korea accounted for 2.0% of the global machine learning market in 2023.
- Country-wise, China is expected to lead the global market in terms of revenue in 2030.
- In Asia Pacific, China machine learning market is projected to lead the regional market in terms of revenue in 2030.
- South Korea is the fastest growing regional market in Asia Pacific and is projected to reach USD 19,602.9 million by 2030.
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Machine Learning Market Scope
Machine Learning Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|
South Korea machine learning 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 machine learning market will help companies and investors design strategic landscapes.
Services was the largest segment with a revenue share of 52.69% in 2023. Horizon Databook has segmented the South Korea machine learning market based on solution, services covering the revenue growth of each sub-segment from 2018 to 2030.
The South Korean government's initiatives to encourage artificial intelligence and the rise of ML startup businesses have been the main drivers of the machine learning market in that country.
Prominent M&A by key industry participants indicates that the market would increase throughout the forecast period. For instance, in January 2023, Singapore-based Amplify Health purchased AiDA Technologies (AiDA), a company that offered Al solutions to companies in the Asia Pacific region.
Amplify Health hopes to grow its local group of highly qualified data scientists by acquiring AIDA. Similarly, Baidu Inc. announced to launch chatbot service in January 2023 like ChatGPT. The leading Chinese search engine aims to unveil a ChatGPT-like app in March, initially integrating it into its primary search offerings.
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Our clientele includes a mix of machine learning market companies, investment firms, advisory firms & academic institutions.
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Horizon Databook provides a detailed overview of country-level data and insights on the South Korea machine learning market , including forecasts for subscribers. This country databook contains high-level insights into South Korea machine learning market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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South Korea machine learning market size, by component, 2018-2030 (US$M)
South Korea Machine Learning Market Outlook Share, 2023 & 2030 (US$M)
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