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Report Overview
2023
Base Year
2018-2023
Historical Year
2024-2032
Forecast Year
South Korea Artificial Intelligence Market Share
Services are expected to hold a significant market share as the government is providing AI vouchers to SMEs and start-ups that require AI-powered services
Artificial intelligence as a service allows individuals and companies to outsource AI capabilities to a third party. This enables them to experiment with AI for various purposes without requiring a large initial investment. Some of the companies providing AI services in South Korea include Kakao Brain and Naver Corporation.
South Korea is among the few countries that develop high-end semiconductor devices needed for AI development on a global scale. In April 2024, the South Korean government unveiled plans to offer financial support to local semiconductor efforts, including the formation of a USD 1 billion fund to help innovative AI chipmakers expand. By 2027, the country aims to invest USD 6.8 million to boost the country’s AI chip sector.
Companies across South Korea are adopting AI to accelerate digital transformation efforts by increasing task automation and reducing costs. In March 2024, the South Korean government announced its plan to invest USD 585 million in domestic AI research and development to strengthen its industrial competitiveness.
South Korea Artificial Intelligence Market Report Snapshots
South Korea Artificial Intelligence Market Size
South Korea Artificial Intelligence Market Growth
South Korea Artificial Intelligence Market Trends
South Korea Artificial Intelligence Market Share
South Korea Artificial Intelligence Companies
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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Key Questions Answered in the Report
In 2023, the market value was USD 1,185.90 million.
The market is projected to grow at a CAGR of 15.6% between 2024 and 2032.
The market is estimated to witness a healthy growth in the forecast period of 2024-2032 to reach around USD 4,321.10 million by 2032.
The major drivers include the increasing government investment in AI, and incorporation of AI in automotive manufacturing and healthcare sectors.
The key trends aiding the market include an increasing number of AI focused startups and technological advancements in AI.
The major technologies considered in the market report include machine learning and natural language processing.
The major end uses of artificial intelligence include security, media and advertising, retail, automotive, healthcare, manufacturing, BFSI, and professional services.
The major players in the market include Samsung Electronics Co. Ltd, SK Telecom Co., Ltd., KT Corporation, LG Corporation, Kakao Enterprise Co. Ltd, Microsoft Corporation, Amazon Web Services, Inc., Google LLC, and Riiid, Inc., among others.
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Australia
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+61-448-061-727
India
C130 Sector 2 Noida, Uttar Pradesh 201301
+91-858-608-1494
Philippines
40th Floor, PBCom Tower, 6795 Ayala Avenue Cor V.A Rufino St. Makati City, 1226.
+63-287-899-028, +63-967-048-3306
United Kingdom
6 Gardner Place, Becketts Close, Feltham TW14 0BX, Greater London
+44-753-713-2163
Vietnam
193/26/4 St.no.6, Ward Binh Hung Hoa, Binh Tan District, Ho Chi Minh City
+84-865-399-124