Comprehensive Analysis of Business Status and Recent Major Issues

IRS Global, a specialized industrial research agency, has published a report titled "Comprehensive Analysis of Business Status and Recent Major Issues by Application Field of the Internet of Things (IoT)."

The Internet of Things (IoT) has been consistently selected as one of the top 10 core technologies by Gartner over the past few years, and is receiving attention as a key value-added industry leading new industries in the ICT market. In particular, due to the proliferation of smart devices such as mobile phones, an Internet of Things (IoT) environment is being rapidly established across the entire field of ICT convergence, alongside the increase in smart sensors and the securing of convergence and connectivity between devices.

With ICBM (IoT, Cloud, Big Data, Mobile) garnering attention as a new growth engine, the Internet of Things is expected to be applied to real-life areas, shifting from an internet-based convergence focus to realizing various economic values, increased efficiency, and enhanced convenience.

Although market size forecasts for the Internet of Things industry vary among major institutions due to the industry's characteristics, such as its ambiguous market category and growth premised on convergence with other industries, positive outlooks continue, with Cisco predicting that the number of networked objects will increase approximately 3.5-fold from 14.4 billion in 2014 to 50.1 billion in 2020, and Machina Research forecasting that the M2M market will grow from 4.5 billion in 2014 to 29 billion in 2024.

In the domestic market as well, the market is projected to grow from 3.8 trillion won in 2015 to 22.9 trillion won in 2022, with the proportion of service-related revenue expected to increase to 52.6%. However, the market remains in the adoption phase prior to full-scale commercialization, and various risk factors hinder the activation of the Internet of Things exist. Factors hindering industrial revitalization, such as standardization and compatibility issues, overcoming security concerns, securing revenue models, and institutional barriers, must be effectively overcome.

In the major service markets of the Internet of Things (IoT), leading global ICT companies (such as Apple and Google) are shifting their competitive landscape from device competition to the platform sector, where they are actively collecting, managing, and analyzing data gathered from IoT devices. ICT companies are competing fiercely to provide services that enhance customer value through convergence across various fields.

Furthermore, governments in major countries such as the U.S., the EU, and Japan are pursuing policies focused on regulatory reforms to promote the commercialization of new convergence services, emphasizing real-life applications, user protection and security, and situational awareness. Similarly, Korea is continuously establishing diverse and concrete implementation plans tailored to its environment, including strengthening collaboration among ecosystem participants, promoting open innovation, and developing customized strategies based on company size.

Accordingly, IRS Global planned this book to provide working-level personnel at institutions and companies interested in the Internet of Things industry with foundational data for research and development and business strategy formulation.

This book is the fourth report on the Internet of Things (IoT) following the first edition in 2012. The introduction provides a conceptual understanding of the IoT's concept and industrial scope, while the market size and future outlook by value chain and application field are meticulously organized and analyzed. Subsequently, policy trends and legal and institutional issues by major countries, as well as trends and business strategies of key domestic and international participants, core technologies, standardization, security, and patent trends, are comprehensively organized and analyzed. It is expected to aid in a comprehensive understanding of the IoT industry.