South Korea's IoT Sales Surpass 10 Trillion Won for the First Time in History in 2019
Published2020.02.26 16:32IoT Exports Show 46.3% Annual Growth
Approximately 4,300 personnel needed in the IoT sector in 2020
On the 25th, the Ministry of Science and ICT announced the results of the '2019 Internet of Things Industry Survey,' which covers the status of the domestic IoT industry over the past year.
The survey was conducted on 2,313 companies confirmed to be engaged in IoT business according to the Korean Standard Industrial Classification (10th) and the National Business Survey, of which 601 companies responded.
(Table = Ministry of Science and ICT)
The business sectors were surveyed by dividing them into four categories: service, platform, network, and device, and the service sector had the most businesses (1,226 companies, 53%).
IoT sales in 2019 amounted to 10,937.9 billion won, an increase of 16.2% from 9,414.9 billion won in 2018, surpassing 10 trillion won for the first time.
Domestic sales accounted for a large share of 89.0% of total sales, amounting to 9.734 trillion won, while exports showed rapid growth of 46.3% annually from 2015 to 2019.
By business sector, the product and equipment sector accounted for 41.0% of sales revenue with 4,479.6 billion won. In terms of year-over-year revenue, the network sector recorded the highest growth rate of 25.2% with 1.8815 trillion won. The platform sector followed with 1.7092 trillion won, recording a growth rate of 19.8%.
This appears to be because 5G mobile communication services were commercialized in early 2019, and various businesses linked to IoT were actively pursued, contributing to the growth of network revenue.
In the service sector, the construction, facility management, safety, and environment sectors accounted for the largest share at 38.1% due to the spread of smart city services through facility management.
The number of domestic IoT-related personnel is 77,734, an increase of 3,793 from 2018, and the workforce required according to employment plans for 2020 is approximately 4,300, indicating that the workforce in the IoT sector is expected to continue to grow.
The results of the survey can be downloaded from the Korea Information and Communication Industry Promotion Agency website .
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