South Korea Smart Home Market by Product Type (Smart Lighting, Smart Home Security & Surveillance, Smart Entertainment, and Smart Appliances), by Communication Protocol (Wi-Fi, Zigbee, Z-Wave, Bluetooth, and Thread), by Smart Home Hubs (Standalone Hubs and Built-in Hubs), by Voice Assistants Integration (Amazon Alexa, Google Assistant, Apple Siri, and Others), by Smart Home Compatibility with Smartphones (iOS and Android), by Installation, (DIY Installation and Professional Installation), and by Sales Channel (Online Retailers and Offline Retailers) – Opportunity Analysis and Industry Forecast, 2024–2030
The South Korea Smart Home Market size was valued at USD 5.13 billion in 2023, and is predicted to reach USD 23.31 billion by 2030, at a CAGR of 24.1% from 2024 to 2030.
Government initiatives play a pivotal role in driving the adoption of smart homes in South Korea. Through a range of incentives, policies, and initiatives, the government encourages homeowners to embrace smart technologies, such as energy-efficient appliances and home automation systems, fostering more connected and efficient living environments. One notable example is the collaboration between the Korea Information and Communication Technology Association (KOIT) and the Korea Land and Housing Company, that launched a project to establish a secure smart home platform using the IP Framework for devices developed by the Open Communication Foundation. This framework ensures reliable connections between specific applications, facilitating smooth and secure operation for smart homes. Such government support creates a favorable environment for the expansion of the smart home market in South Korea.
Furthermore, continuous technological innovations by industry leaders such aas Samsung and LG are propelling market growth in South Korea. These companies are pioneering cutting-edge smart home solutions, such as Samsung's ""SmartThings Station,"" introduced in January 2023. This innovative product centralizes control and connectivity for various smart devices, offering users seamless management and monitoring of their smart home ecosystem. Samsung's dedication to providing integrated and user-friendly solutions that streamline home automation and enhance consumer convenience reflects its commitment to advancing the smart home market. These advancements attract consumers seeking modern living experiences, contributing to the market's expansion in South Korea.
However, the growth of the smart home market faces a significant challenge stemming from security concerns surrounding interconnected systems. Devices such as thermostats, cameras, and door locks are susceptible to hacking, presenting risks to residents' privacy and safety. Weak or easily predictable passwords and inadequate Wi-Fi network security measures exacerbate this vulnerability. Exploiting these weaknesses, hackers gain unauthorized access, potentially compromising devices or accessing sensitive data. To mitigate these risks, homeowners need to prioritize rigorous password protocols, regularly update device firmware, and strengthen home networks to reduce the likelihood of cyber intrusions and safeguard their smart homes against potential breaches.
On the contrary, blockchain technology offers significant potential to enhance the security and privacy of smart home systems. By encrypting and securely storing sensitive data, blockchain gives users control over access, reducing the risk of unauthorized intrusion. It verifies device identities, ensuring only trusted devices interact within the network, and automates tasks through tamper-proof smart contracts. Moreover, blockchain decentralizes device control, minimizing vulnerabilities and simplifying access management. Its integration not only enhances security and privacy but also fosters a safer smart home environment, creating growth opportunities for the market.
Segment Overview
The South Korea smart home industry is segmented based on product type, communication protocol, smart home hubs, voice assistant integration, smart home compatibility with smartphones, installation, and sales channel.
By product type, the market is categorized into smart lighting, smart home security and surveillance, smart entertainment, and smart appliances.
By communication protocol, the market is classified into Wi-Fi, Zigbee, Z-Wave, Bluetooth, and Thread.
By smart home hubs, the market is segmented into standalone hubs and built-in hubs.
By voice assistant integration, the market is divided into Amazon Alexa, Google Assistant, Apple Siri, and others.
By smart home compatibility with smartphones, the market is divided into iOS and Android.
By installation, the market is classified into DIY installation and professional installation.
By sales channel, the market is classified into online retailers and offline retailers.
Key Market Players
Leading players operating in the South Korea Smart Home Market include:
• LG Electronics
• ASSA ABLOY
• Amazon, Inc.
• Samsung Electronics
• Sony Group Corporation
• Emerson Electronic Co.
• Johnson Controls International PLC
• Centrica Connected Home Limited
• Resideo Technologies, Inc.
• Apple, Inc.
KEY BENEFITS
• The South Korea Smart Home market report provides a quantitative analysis of the current market and estimations through 2024-2030 that assists in identifying the prevailing market opportunities to capitalize on.
• The study comprises a deep dive analysis of the market trend including the current and future trends for depicting the prevalent investment pockets in the market.
• The information related to key drivers, restraints, and opportunities and their impact on the market is provided in the report.
• The competitive analysis of the market players along with their market share in the South Korea Smart Home market.
• The SWOT analysis and Porter’s Five Forces model are elaborated in the study.
• Value chain analysis in the market study provides a clear picture of the stakeholders’ roles.
- 1 Introduction
- 1.1 Report Description
- 1.2 Research Methodology
- 1.2.1 Secondary Research
- 1.2.2 Data Analysis Framework
- 1.2.3 Market Size Estimation
- 1.2.4 Forecasting
- 1.2.5 Primary Research And Data Validation
- 2 South Korea Smart Home Market By Product Type
- 2.1 Overview
- 2.2 Smart Lighting Market
- 2.2.1 Smart Bulbs
- 2.2.2 Smart Light Strips
- 2.2.3 Smart Switches
- 2.3 Smart Home Security And Surveillance Market
- 2.3.1 Smart Cameras
- 2.3.2 Video Doorbells
- 2.3.3 Smart Locks
- 2.3.4 Security System
- 2.4 Smart Entertainment Market
- 2.4.1 Smart Tvs
- 2.4.2 Smart Speakers
- 2.4.3 Streaming Devices
- 2.5 Smart Appliances Market
- 2.5.1 Smart Refrigerators
- 2.5.2 Smart Ovens
- 2.5.3 Smart Washing Machines
- 2.5.4 Smart Dishwashers
- 2.5.5 Smart Home Hvac Management
- 2.5.6 Other Smart Appliances
- 3 South Korea Smart Home Market By Communication Protocol
- 3.1 Overview
- 3.2 Wi-fi Market
- 3.3 Zigbee Market
- 3.4 Z-wave Market
- 3.5 Bluetooth Market
- 3.6 Thread Market
- 4 South Korea Smart Home Market By Smart Home Hubs
- 4.1 Overview
- 4.2 Standalone Hubs Market
- 4.3 Built-in Hubs Market
- 5 South Korea Smart Home Market By Voice Assistants Integration
- 5.1 Overview
- 5.2 Amazon Alexa Market
- 5.3 Google Assistant Market
- 5.4 Apple Siri Market
- 5.5 Others Market
- 6 South Korea Smart Home Market By Smart Home Compatibility With Smartphones
- 6.1 Overview
- 6.2 Ios Market
- 6.3 Android Market
- 7 South Korea Smart Home Market By Installation
- 7.1 Overview
- 7.2 Diy Installation Market
- 7.3 Professional Installation Market
- 8 South Korea Smart Home Market By Sales Channel
- 8.1 Overview
- 8.2 Online Retailers Market
- 8.3 Retailers Market
- 9 Company Profiles
- 9.1 Lg Electronics
- 9.1.1 Company Overview
- 9.1.2 Company Snapshot
- 9.1.3 Operating Business Segments
- 9.1.4 Product Portfolio
- 9.1.5 Business Performance
- 9.1.6 Business Segments
- 9.1.7 Geographic Segments
- 9.1.8 Key Strategic Moves And Development
- 9.1.9 Primary Market Competitors
- 9.2 Assa Abloy
- 9.2.1 Company Overview
- 9.2.2 Company Snapshot
- 9.2.3 Operating Business Segments
- 9.2.4 Product Portfolio
- 9.2.5 Business Performance
- 9.2.6 Business Segments
- 9.2.7 Geographic Segments
- 9.2.8 Key Strategic Moves And Development
- 9.2.9 Primary Market Competitors
- 9.3 Amazon Inc.
- 9.3.1 Company Overview
- 9.3.2 Company Snapshot
- 9.3.3 Operating Business Segments
- 9.3.4 Product Portfolio
- 9.3.5 Business Performance
- 9.3.6 Business Segments
- 9.3.7 Geographic Segments
- 9.3.8 Key Strategic Moves And Development
- 9.3.9 Primary Market Competitors
- 9.4 Samsung Electronics
- 9.4.1 Company Overview
- 9.4.2 Company Snapshot
- 9.4.3 Operating Business Segments
- 9.4.4 Product Portfolio
- 9.4.5 Business Performance
- 9.4.6 Business Segments
- 9.4.7 Geographic Segments
- 9.4.8 Key Strategic Moves And Development
- 9.4.9 Primary Market Competitors
- 9.5 Sony
- 9.5.1 Company Overview
- 9.5.2 Company Snapshot
- 9.5.3 Operating Business Segments
- 9.5.4 Product Portfolio
- 9.5.5 Business Performance
- 9.5.6 Business Segments
- 9.5.7 Geographic Segments
- 9.5.8 Key Strategic Moves And Development
- 9.5.9 Primary Market Competitors
- 9.6 Emerson Electronic Co.
- 9.6.1 Company Overview
- 9.6.2 Company Snapshot
- 9.6.3 Operating Business Segments
- 9.6.4 Product Portfolio
- 9.6.5 Business Performance
- 9.6.6 Business Segments
- 9.6.7 Geographic Segments
- 9.6.8 Key Strategic Moves And Development
- 9.6.9 Primary Market Competitors
- 9.7 Johnson Controls International Plc
- 9.7.1 Company Overview
- 9.7.2 Company Snapshot
- 9.7.3 Operating Business Segments
- 9.7.4 Product Portfolio
- 9.7.5 Business Performance
- 9.7.6 Business Segments
- 9.7.7 Geographic Segments
- 9.7.8 Key Strategic Moves And Development
- 9.7.9 Primary Market Competitors
- 9.8 Centrica Connected Home Limited
- 9.8.1 Company Overview
- 9.8.2 Company Snapshot
- 9.8.3 Operating Business Segments
- 9.8.4 Product Portfolio
- 9.8.5 Business Performance
- 9.8.6 Business Segments
- 9.8.7 Geographic Segments
- 9.8.8 Key Strategic Moves And Development
- 9.8.9 Primary Market Competitors
- 9.9 Resideo Technologies Inc.
- 9.9.1 Company Overview
- 9.9.2 Company Snapshot
- 9.9.3 Operating Business Segments
- 9.9.4 Product Portfolio
- 9.9.5 Business Performance
- 9.9.6 Business Segments
- 9.9.7 Geographic Segments
- 9.9.8 Key Strategic Moves And Development
- 9.9.9 Primary Market Competitors
- 9.10 Apple Inc.
- 9.10.1 Company Overview
- 9.10.2 Company Snapshot
- 9.10.3 Operating Business Segments
- 9.10.4 Product Portfolio
- 9.10.5 Business Performance
- 9.10.6 Business Segments
- 9.10.7 Geographic Segments
- 9.10.8 Key Strategic Moves And Development
- 9.10.9 Primary Market Competitors
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