South Korea Public Cloud Market

Market Overview:

South Korea public cloud market size is projected to exhibit a growth rate (CAGR) of 14.52% during ​2024-2032​. The growing demand for cloud-based collaboration and communication tools, increasing focus on reducing information technology (IT) infrastructure costs, and rising need for scalable, affordable, and flexible cloud computing solutions represent some of the key factors driving the market.

A public cloud is a cloud computing model where cloud resources, such as servers, storage, and applications, are hosted and managed by a third-party provider and made available to companies and individuals over the internet. It often follows a pay-as-you-go or subscription-based pricing model that allows users to pay only for the resources and services they use. It offers a cost-effective and scalable solution for organizations, allowing them to access computing power and services without the need for significant investments in infrastructure and maintenance. It enables users to quickly and easily scale up or down their computing resources based on their needs. It provides a wide range of managed services, such as databases, machine learning (ML), analytics, and security tools. It offers backup and data replication options, ensuring that data is protected and accessible even in the event of a disaster or hardware failure. It facilitates remote work and collaboration by offering a wide range of cloud-based productivity and communication tools. It helps organizations offload the operational burden and focus on developing and deploying applications. As it enables organizations to handle workload variations efficiently, the demand for public cloud is increasing in South Korea. 

South Korea Public Cloud Market Trends:

At present, the growing demand for scalable infrastructure to handle varying workloads represents one of the major factors contributing to the market growth in South Korea. Moreover, the rising employment of public cloud to reduce latency for real-time applications is strengthening the growth of the market in the country. Apart from this, the escalating demand for public cloud to reduce information technology (IT) infrastructure costs and optimize operational expenses is offering a positive market outlook. Additionally, the increasing use of public cloud for data-driven decision-making in organizations is providing lucrative growth opportunities to industry investors. In line with this, the introduction of advanced technologies, such as artificial intelligence (AI), machine learning (ML), and the Internet of Things (IoT), in the public cloud enables companies to stay competitive and adopt solutions without the need for extensive in-house development, which is impelling the market growth in South Korea. In addition, the rising employment of public cloud, as it is energy-efficient and eco-friendly compared to traditional data centers, is bolstering the growth of the market. Besides this, the increasing need for scalable, affordable, and flexible cloud computing solutions is propelling the market growth in South Korea. Furthermore, the growing demand for cloud-based collaboration and communication tools on account of the rising remote work settings is influencing the market positively in the country.

South Korea Public Cloud Market Segmentation:

IMARC Group provides an analysis of the key trends in each segment of the market, along with forecasts at the country level for ​2024-2032​. Our report has categorized the market based on service, enterprise size, and end use.

Service Insights:

• Infrastructure as a Service (IaaS)
• Platform as a Service (PaaS)
• Software as a Service (SaaS)
   

The report has provided a detailed breakup and analysis of the market based on the service. This includes infrastructure as a service (IaaS), platform as a service (PaaS), and software as a service (SaaS).

Enterprise Size Insights:

• Large Enterprises
• Small and Medium-sized Enterprises
   

A detailed breakup and analysis of the market based on the enterprise size have also been provided in the report. This includes large enterprises and small and medium-sized enterprises.

End Use Insights:

• BFSI
• IT and Telecom
• Retail and Consumer Goods
• Manufacturing
• Energy and Utilities
• Healthcare
• Media and Entertainment
• Government and Public Sector
• Others
   

The report has provided a detailed breakup and analysis of the market based on the end use. This includes BFSI, IT and telecom, retail and consumer goods, manufacturing, energy and utilities, healthcare, media and entertainment, government and public sector, and others.

Regional Insights:

• Seoul Capital Area
• Yeongnam (Southeastern Region)
• Honam (Southwestern Region)
• Hoseo (Central Region)
• Others
   

The report has also provided a comprehensive analysis of all the major regional markets, which include Seoul Capital Area, Yeongnam (Southeastern Region), Honam (Southwestern Region), Hoseo (Central Region) and Others.

Competitive Landscape:

The market research report has also provided a comprehensive analysis of the competitive landscape. Competitive analysis such as market structure, key player positioning, top winning strategies, competitive dashboard, and company evaluation quadrant has been covered in the report. Also, detailed profiles of all major companies have been provided.

South Korea Public Cloud Market Report Coverage:

Key Questions Answered in This Report:

• How has the South Korea public cloud market performed so far and how will it perform in the coming years?
• What has been the impact of COVID-19 on the South Korea public cloud market?
• What is the breakup of the South Korea public cloud market on the basis of service?
• What is the breakup of the South Korea public cloud market on the basis of enterprise size?
• What is the breakup of the South Korea Public Cloud market on the basis of end use?
• What are the various stages in the value chain of the South Korea public cloud market? 
• What are the key driving factors and challenges in the South Korea public cloud?
• What is the structure of the South Korea public cloud market and who are the key players?
• What is the degree of competition in the South Korea public cloud market? 

Key Benefits for Stakeholders:

• IMARC’s industry report offers a comprehensive quantitative analysis of various market segments, historical and current market trends, market forecasts, and dynamics of the South Korea public cloud market from 2018-2032.
• The research report provides the latest information on the market drivers, challenges, and opportunities in the South Korea public cloud market.
• Porter's five forces analysis assist stakeholders in assessing the impact of new entrants, competitive rivalry, supplier power, buyer power, and the threat of substitution. It helps stakeholders to analyze the level of competition within the South Korea public cloud industry and its attractiveness.
• Competitive landscape allows stakeholders to understand their competitive environment and provides an insight into the current positions of key players in the market.