TECH SUPPLIER Feb 2020 - Market Presentation - Doc # AP45645019

1H19 Country Report on IT Services — Korea

By: Min KimSenior Research Manager, Smart City, IoT and Services, Sujin HurAssociate Market Analyst, Services

On-line Presentation

Abstract

This IDC Presentation provides a detailed analysis of the market and competitive landscape in Korea's IT services from January to June 2019 (1H19). It covers the market size movements and growth trends in each of the macromarkets (i.e., project-oriented services, managed services, and support services) and the key industries, such as finance, manufacturing and resources, public sector, distribution and services, and infrastructure. This report also provides a market and vendor analysis of 3rd Platform technologies as the key market drivers. Moreover, the competitive analysis section includes key strategies and activities of global and local IT services providers in the market.

The data and insights in this presentation are part of the Asia/Pacific Semiannual Services Tracker research, which covers 14 foundation markets across 14 Asia/Pacific countries.

Korea's IT services market has grown steadily with the rise of emerging technologies, such as artificial intelligence (AI), blockchain, and cloud. In addition, the IT services market has further expanded in this cycle because of the increasing adoption of systems integration (SI) and managed services projects in various industries.

The government's public and financial cloud deregulations have allowed critical information, such as personal credit information, available to be stored in the cloud. This has spurred the increasing demand for cloud services in the financial and public sectors.

Aside from the rising demand of emerging technologies, such as AI, blockchain, Internet of Things (IoT), and cloud, the overall growth of the IT services market has also increased because of the government's encouragement of medium-sized companies to build smart factories that will support the country’s manufacturing industry.

With digital transformation (DX) accelerating, data-driven business intelligence has become critical. As a result, organizations have actively sought assistance from ITSPs to digitally transform their businesses. This initiative has then also been reflected in the country's various industries, including retail, distribution, and finance, increasing the growth in the project-oriented services market. In addition, the managed services market has also expanded because of the steady growth in cloud demand. Meanwhile, the support services market has maintained a steady growth because of the market expansion through the introduction of various software incorporated with emerging technologies.

Korea's major IT services vendors have set their sights on public projects to expand their businesses, focusing on both domestic and global markets.


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