Fast Market Research

New Market Research Report: South Korea Information Technology Report Q3 2013

Fast Market Research recommends "South Korea Information Technology Report Q3 2013" from Business Monitor International, now available


Boston, MA -- (SBWIRE) -- 07/30/2013 -- We revised our forecast for South Korean IT spending down slightly in the Q3 2013 update following revisions to our macroeconomic forecasts. Even following the downward revision growth is still expected to be robust in 2013 at 6.3%, with the value of the total market expected to reach KRW21,851bn in 2013.

We expect IT market growth to accelerate from 2014 as the economic environment becomes more supportive. There are favourable trends within the IT market that we expect to drive growth. Initial data indicates that South Koreans are early adopters of ultra-thin notebooks and hybrids/convertibles, fitting BMI's view for a developed IT market where there will be a shift in demand over the medium term from notebooks and tablets to devices that blend the mobility and productivity advantages of the two. Meanwhile, there will be a number of key drivers and growth trends in the enterprise market, including cloud computing, IT outsourcing and industry-specific software applications.

View Full Report Details and Table of Contents

Headline Expenditure Predictions

- Computer Hardware Sales: KRW5,404bn in 2013 to KRW6.623bn in 2017, CAGR of +5.2% in local currency terms. The device innovation occurring on the back of the release of Windows 8 and Intel's Haswell chipsets, as well as a deepening of the tablet market due to price competition from Android devices, will ensure continued spending despite high overall PC penetration.
- Software Sales: KRW7,463bn in 2013 to KRW9,675bn in 2017, CAGR of 6.3% in local currency terms. Trend in the South Korean software market is towards specialised vertical-specific application packages, while security software also has strong growth potential.
- IT Services Sales: KRW8,984bn in 2013 to KRW12,865bn in 2017, CAGR of 9.2% in local currency terms. Cloud computing is expected to gain more traction in 2013, both among large enterprises and SMEs.
- Risk/Reward Ratings: South Korea sits at the top of our Asia-Pacific ratings table with a score of 72.2.

Key Trends and Developments:

The government's drive to boost the 'creative economy' is yielding opportunities for the IT software and services segments. The government has undertaken several forward thinking policy initiatives including the Big Data pilot that will utilise public and private data, such as location and payment data to develop a Big Data service model. Such initiatives will help South Korea to position itself at the forefront of nascent IT trends. Meanwhile, the government has also increased its focus on cyber security issues following attack in March 2013, believed to be from North Korea, that disrupted the operations of banks and broadcasters in South Korea. The government is continuing to offer financial assistance for investments in secure servers, while it also created a cyber security policy group in April 2013.

About Fast Market Research
Fast Market Research is an online aggregator and distributor of market research and business information. Representing the world's top research publishers and analysts, we provide quick and easy access to the best competitive intelligence available. Our unbiased, expert staff will help you find the right research to fit your requirements and your budget. For more information about these or related research reports, please visit our website at or call us at 1.800.844.8156.

Browse all Computer Technology research reports at Fast Market Research

You may also be interested in these related reports:

- South Africa Information Technology Report Q3 2013
- Mexico Information Technology Report Q3 2013
- Hungary Information Technology Report Q3 2013
- Venezuela Information Technology Report Q3 2013
- Sri Lanka Information Technology Report Q3 2013
- Thailand Information Technology Report Q3 2013
- Germany Information Technology Report Q3 2013
- Turkey Information Technology Report Q3 2013
- Czech Republic Information Technology Report Q3 2013
- Poland Information Technology Report Q3 2013