South Korea Smart Home Market Research Report, 2028

South Korea is known for its tech-savvy population and is among the most connected countries globally. With one of the highest internet penetration rates and a culture that highly values technology the adoption of smart home devices is a natural extension of this tech-driven society. South Korea has a predominantly urban population, living in high-rise apartments and densely populated cities. Smart home technology caters to the needs of urban dwellers, offering solutions for space optimization, security, and convenience in high-density living environments. South Korea boasts excellent infrastructure, including high-speed internet, 5G connectivity, and a robust network infrastructure. This facilitates the seamless integration and operation of smart devices, making the country an ideal environment for smart home solutions. The integration of health and wellness-focused smart devices is gaining traction. From health monitors to air purifiers and water purifiers, South Koreans value technology that contributes to a healthy living environment. South Koreans are known for embracing new technology and innovations. This cultural disposition has led to a quick adoption of smart home devices, and the market continues to evolve as new technologies emerge. Services that integrate with smart home technology are becoming more prevalent. These include home cleaning services, delivery and logistics integrated with smart locks, and other smart home-based services, making life more convenient for residents. The rising consumer demand for a connected lifestyle, where all devices can seamlessly communicate and work together, is driving the adoption of smart home systems that offer greater integration and connectivity. According to the research report "South Korea Smart Home Market Overview, 2028," published by Actual Research, the South Korea Smart Home market is anticipated to grow at more than 16% CAGR from 2023 to 2028. The trend of multi-generational households in South Korea leads to a demand for smart home solutions that cater to various age groups living together. This includes devices and systems designed to assist seniors, children, and adults in one household. There's a rising trend towards integrating smart features into furniture and home design. This includes smart tables, chairs, and other furnishings embedded with technology for connectivity, comfort, and functionality. The trend towards sustainability extends to the materials used in smart home construction and device manufacturing. Consumers show interest in devices made from eco-friendly and recyclable materials. South Koreans are showing interest in smart kitchen appliances and food management systems. These include smart refrigerators, inventory trackers, and cooking devices integrated with IoT technology. Smart home features are being integrated into tourism and hospitality sectors, providing guests with a more immersive and convenient experience. Accommodations offer smart home amenities and integrated systems for a unique stay. The use of smart devices to monitor and care for pets is gaining popularity. Smart cameras, feeding systems, and health monitors for pets offer remote monitoring and care options for pet owners. The trend of integrating smart technology into home office spaces is evolving. These systems include smart desks, video conferencing equipment, and collaborative tools to create efficient and tech-equipped workspaces at home. The integration of smart home systems with vehicles is growing. This trend includes systems that sync with automobiles for enhanced security, garage management, and automated maintenance scheduling.

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Smart speakers serve as a central hub for voice-activated control of various smart home devices. These devices are integrated with voice assistants like Amazon's Alexa, Google Assistant, or Samsung's Bixby, allowing users to command and control a wide array of smart home products. Smart speakers offer a user-friendly interface for controlling multiple devices with voice commands. South Korean consumers value convenience, and the simplicity of voice control makes smart speakers an attractive and easy-to-use option for managing smart home systems. The proliferation of Artificial Intelligence (AI) in smart speakers enhances their capabilities. These devices not only control other smart devices but also provide personalized assistance, information, and entertainment, catering to individual preferences. Smart speakers are not only limited to controlling home devices but also act as a source of entertainment and information. They can play music, provide news updates, answer questions, and even assist in language translation, making them versatile and multi-functional. Furthermore, South Korea has a robust and extensive Wi-Fi infrastructure. Wi-Fi connectivity is prevalent in homes, public spaces, and cities, making it a convenient choice for smart home devices. The reliability and high-speed data transfer capability of Wi-Fi protocols contribute to their popularity. Wireless protocols, particularly Wi-Fi and Bluetooth, offer a widespread and established connectivity standard that most smart home devices support. These protocols enable seamless communication and connectivity between various devices, making them the go-to choice for smart home setups. South Korea has a robust and extensive Wi-Fi infrastructure. Wi-Fi connectivity is prevalent in homes, public spaces, and cities, making it a convenient choice for smart home devices. The reliability and high-speed data transfer capability of Wi-Fi protocols contribute to their popularity. Wireless protocols, particularly Wi-Fi and Bluetooth, offer a widespread and established connectivity standard that most smart home devices support. These protocols enable seamless communication and connectivity between various devices, making them the go-to choice for smart home setups. Wireless protocols eliminate the need for complex wiring installations. Wi-Fi and Bluetooth devices are relatively easy to set up and use, appealing to consumers who prefer hassle-free installations and setups. Wireless protocols align well with mobile devices. Since smartphones play a central role in controlling smart home devices, wireless protocols such as Wi-Fi and Bluetooth complement this relationship, allowing users to control their smart home systems remotely via mobile apps. Furthermore, direct sales channels allow smart home technology providers to directly engage with consumers, educating them about the benefits and functionalities of various smart devices. As awareness grows, more consumers are interested in purchasing these products directly from manufacturers or authorized dealers. In addition, Behavioral-based smart home systems leverage advanced Artificial Intelligence (AI) and machine learning algorithms to understand and adapt to residents' behavior patterns. These systems can learn from routines, preferences, and habits, adjusting and automating home devices to align with the residents' activities. Considered in this report: • Geography: South Korea • Historic year: 2017 • Base year: 2022 • Estimated year: 2023 • Forecast year: 2028

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Kripa Shah

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Aspects covered in this report: • South Korea Smart Home market with its value and forecast along with its segments • Various drivers and challenges • On-going trends and developments • Top profiled companies • Strategic recommendation By Product • Security and Access Control • Lighting Control • Entertainment System • HVAC Control • Smart Speakers • Smart Home Appliances • Smart Kitchen Appliances • Smart Home Healthcare Systems • Smart Furniture • Other Controls (Smart Meter, Smart Plug, Smart Smoke detector, Smart hub) By Protocols • Wireless Protocols • Wired Protocols • Hybrid Protocols

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By Application • New Construction • Retrofit By Sales Channel • Direct • Indirect By Software & Services • Behavioural • Proactive The approach of the report: This report consists of a combined approach of primary as well as secondary research. Initially, secondary research was used to get an understanding of the market and list out the companies that are present in the market. The secondary research consists of third-party sources such as press releases, and annual reports of companies, analyzing the government-generated reports and databases. After gathering the data from secondary sources primary research was conducted by making telephonic interviews with the leading players about how the market is functioning and then conducting trade calls with dealers and distributors of the market. Post this we have started doing primary calls to consumers by equally segmenting consumers into regional aspects, tier aspects, age groups, and gender. Once we have primary data with us we started verifying the details obtained from secondary sources. Intended audience: This report can be useful to industry consultants, manufacturers, suppliers, associations & organizations related to the Smart Home industry, government bodies, and other stakeholders to align their market-centric strategies. In addition to marketing & presentations, it will also increase competitive knowledge about the industry.