South Korea Industry 4.0 Market Size & Outlook, 2023-2030
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South Korea industry 4.0 market highlights
- The South Korea industry 4.0 market generated a revenue of USD 6,968.8 million in 2023 and is expected to reach USD 26,374.2 million by 2030.
- The South Korea market is expected to grow at a CAGR of 20.9% from 2024 to 2030.
- In terms of segment, hardware was the largest revenue generating component in 2023.
- Software is the most lucrative component segment registering the fastest growth during the forecast period.
Industry 4.0 market data book summary
| Market revenue in 2023 | USD 6,968.8 million |
| Market revenue in 2030 | USD 26,374.2 million |
| Growth rate | 20.9% (CAGR from 2023 to 2030) |
| Largest segment | Hardware |
| Fastest growing segment | Software |
| Historical data | 2018 - 2022 |
| Base year | 2023 |
| Forecast period | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Hardware, Software, Services |
| Key market players worldwide | ABB Ltd, Cisco Systems Inc, Cognex Corp, Denso Corp, Emerson Electric Co, Fanuc Corp, GE Aerospace, Honeywell International Inc, Intel Corp, Johnson Controls International PLC, Robert Bosch Engineering & Business Solutions, Rockwell Automation Inc, Schneider Electric SE, Siemens AG, Kuka Group |
Other key industry trends
- In terms of revenue, South Korea accounted for 4.0% of the global industry 4.0 market in 2023.
- Country-wise, U.S. is expected to lead the global market in terms of revenue in 2030.
- In Asia Pacific, China industry 4.0 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 28,488.2 million by 2030.
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Industry 4.0 Market Scope
Industry 4.0 Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|---|---|---|---|
| Kuka Group | View profile | - | Hangzhou, Zhejiang, China, Asia | - |
| Robert Bosch Engineering & Business Solutions | View profile | 10001+ | Bangalore, Karnataka, India, Asia | http://www.bosch-india-software.com |
| Cisco Systems Inc | View profile | 84900 | 170 West Tasman Drive, San Jose, CA, United States, 95134-1706 | https://www.cisco.com |
| Denso Corp | View profile | 195471 | 1-1 Showa-cho, Kariya, Japan, 448-8661 | http://www.denso.co.jp |
| Cognex Corp | View profile | 2992 | One Vision Drive, Natick, MA, United States, 01760-2059 | https://www.cognex.com |
| Fanuc Corp | View profile | 11532 | 3580, Shibokusa, Oshino-mura, Minamitsuru-gun, Yamanashi, Japan, 401-0597 | http://www.fanuc.co.jp |
| Emerson Electric Co | View profile | 67000 | 8000 West Florissant Avenue, P.O. Box 4100, St. Louis, MO, United States, 63136 | https://www.emerson.com |
| Honeywell International Inc | View profile | 95000 | 855 South Mint Street, Charlotte, NC, United States, 28202 | https://www.honeywell.com |
| Rockwell Automation Inc | View profile | 29000 | 1201 South Second Street, Milwaukee, WI, United States, 53204 | https://www.rockwellautomation.com |
| GE Aerospace | View profile | 125000 | One Financial Center, Suite 3700, Boston, MA, United States, 02111 | https://www.geaerospace.com |
| Siemens AG | View profile | 321000 | Werner-von-Siemens-Strabe 1, Munich, BY, Germany, 80333 | https://www.siemens.com |
| ABB Ltd | View profile | 108700 | Affolternstrasse 44, Zurich, Switzerland, 8050 | https://www.abb.com |
| Intel Corp | View profile | 124800 | 2200 Mission College Boulevard, Santa Clara, CA, United States, 95054-1549 | https://www.intel.com |
| Schneider Electric SE | View profile | 162339 | 35, rue Joseph Monier - CS 30323, Rueil Malmaison, France, F-92506 | https://www.se.com |
| Johnson Controls International PLC | View profile | 102000 | One Albert Quay, Cork, Ireland, T12 X8N6 | https://www.johnsoncontrols.com |
South Korea industry 4.0 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 industry 4.0 market will help companies and investors design strategic landscapes.
Hardware was the largest segment with a revenue share of 50.8% in 2023. Horizon Databook has segmented the South Korea industry 4.0 market based on hardware, software, services covering the revenue growth of each sub-segment from 2018 to 2030.
The South Korean Industry 4.0 market has been experiencing significant growth in recent years, driven by the integration of advanced technologies into manufacturing processes. The need for businesses to remain competitive in an increasingly globalized market is one of the main drivers of the growth of the Industry 4.0 market in South Korea.
The integration of advanced technologies into manufacturing processes enables businesses to increase efficiency, reduce costs, and improve product quality, thereby increasing their competitiveness. The factor driving adoption of Industry 4.0 technologies in South Korea is the increasing demand for customized products.
With the integration of advanced technologies, businesses are able to produce customized products at a lower cost, thereby meeting the demand for personalized products. The South Korean government has been investing heavily in the development of advanced technologies such as artificial intelligence, robotics, and the Internet of Things.
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Target buyers of South Korea industry 4.0 market databook
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Our clientele includes a mix of industry 4.0 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 industry 4.0 market , including forecasts for subscribers. This country databook contains high-level insights into South Korea industry 4.0 market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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South Korea industry 4.0 market size, by component, 2018-2030 (US$M)
South Korea Industry 4.0 Market Outlook Share, 2023 & 2030 (US$M)
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