South Korea Video Conferencing Market Set to Attain Valuation of USD 260.70 Million By 2032 | Astute Analytica

South Korean video conferencing market is poised for robust growth, with competition between domestic hardware/electronics leaders and global software giants. Continued innovation and strategic moves by these top players will shape the industry’s evolution.

New Delhi, June 11, 2024 (GLOBE NEWSWIRE) — According to Astute Analytica, the South Korea video conferencing market is projected to reach a market valuation of US$ 260.70 million by 2032, up from US$ 108.77 million in 2023, growing at a staggering CAGR of 10.2% during the forecast period 2024–2032.

The video conferencing market in South Korea is poised for substantial growth, driven by a combination of technological advancements, high-speed internet penetration, and a shift towards remote work culture. This growth trajectory is supported by the increasing adoption of video conferencing solutions across various sectors, including corporate, government, education, and healthcare. Technological advancements play a crucial role in the expansion of the market in South Korea. Companies like Lumens Digital Optics Inc. and 4NB Co., Ltd. are at the forefront, introducing high-definition video conferencing cameras and integrated solutions that enhance user experience. The widespread availability of high-speed internet, with nearly 95% of households having access, and the high smartphone penetration rate further bolster the adoption of video conferencing tools. These technological enablers ensure that users can access high-quality video conferencing services seamlessly.

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Government initiatives are also a significant driver of market growth. Programs such as the Ministry of Education’s “Smart Education Innovation Project” promote the use of video conferencing in educational institutions, ensuring that students in remote areas have access to quality education. Additionally, the South Korean government’s push for digital transformation across various sectors is fostering the adoption of video conferencing solutions. This support from the government not only enhances the market’s growth prospects but also ensures that the benefits of video conferencing are widely distributed across different segments of society.

The COVID-19 pandemic has accelerated the adoption of remote work practices, leading to a surge in demand for video conferencing solutions. In 2023, 68.3% of office workers in South Korea were telecommuting or using other forms of remote work. This shift in work culture is expected to continue, driving further growth in the video conferencing market. As businesses and organizations adapt to the new normal, the demand for reliable and efficient video conferencing solutions is likely to remain strong, ensuring sustained market growth in the coming years.

Key Findings in South Korea Video Conferencing Market

Market Forecast (2032) US$ 260.70 million
CAGR 10.2%
By Component Hardware (43.2%)
By Deployment On-premises (55.6%)
By Conference Type Desktop (46.8%)
By Video Resolution 1080p (45.4%)
By Application Team Collaboration (43.6%)
By Enterprise Size Small and Medium Enterprises (83.9%)
By Industry Education (22.5%)x
Top Trends
  • High Internet Penetration and Smartphone Usage
  • Technological Advancements and Innovations
  • Increased Adoption Due to Work-from-Home Culture
Top Drivers
  • Globalization and Access to High-Speed Internet
  • User-Friendly Interfaces and Rising Disposable Income
  • Increasing Number of Business Conferences
Top Challenges
  • Privacy and Data Protection Regulations
  • High Competition Among Video Conferencing Solutions

On-Premise Deployment in South Korea’s Video Conferencing Market to Stay at Top by Garnering More than 55% Revenue

South Korea’s robust technological infrastructure and high internet penetration rate, exceeding 97%, form the backbone of the dominance of on-premise video conferencing deployments. The government has consistently supported the development of broadband infrastructure, creating a conducive environment for businesses to adopt advanced IT solutions. This infrastructural strength is complemented by the urban density in cities like Seoul and Incheon, where internet speeds often reach up to 100 Mbit/s, ensuring that on-premise solutions operate seamlessly. The South Korean government’s initiatives and policies aimed at enhancing IT infrastructure continue to play a crucial role in fostering this environment.

Cultural factors and a strong inclination towards IT adoption further amplify the prevalence of on-premise video conferencing solutions. South Korea’s IT-friendly culture, characterized by high levels of IT education and virtual community engagement, drives the demand for reliable and secure communication tools in the video conferencing market. Security concerns are paramount, especially for businesses and institutions handling sensitive information, and on-premise solutions offer enhanced control over data and security protocols compared to cloud-based alternatives. This preference for security and customization makes on-premise deployments particularly attractive in a competitive business landscape.

Economic dynamics and technological dominance also contribute significantly to the high penetration of on-premise video conferencing solutions. South Korea’s leadership in technology, particularly in memory chips and AI, provides a solid foundation for the development and deployment of advanced communication tools. The integration of video conferencing into broader unified communications platforms, which include capabilities like voice over IP and webinar software, offers businesses a comprehensive and scalable communication solution. This integration, coupled with continuous innovation and a highly competitive business environment, underscores the preference for on-premise solutions that provide reliability, quality, and security, reinforcing their dominance in the South Korean market.

1080p Resolution is Taking Lead Role in Video Conferencing in South Korea Market, Projected to Keep Dominating the Market with Over 45% Revenue Share

South Korea’s high-speed internet infrastructure, with average speeds exceeding 100 Mbps, is a significant factor driving the dominance of 1080p resolution in video conferencing. The country’s internet penetration rate stands at an impressive 97.2%, supported by government initiatives that prioritize digital infrastructure development. This robust connectivity ensures that high-definition video conferencing can be conducted seamlessly, meeting the high expectations of South Korean users who are accustomed to high-quality digital experiences in other areas such as entertainment and gaming.

Technological advancements and the widespread availability of devices capable of supporting 1080p resolution further bolster its dominance in the video conferencing market. South Korea is a global leader in technology and innovation, with a market that demands the latest and most advanced solutions. This is evident in the corporate and educational sectors, where 1080p video conferencing solutions are widely adopted to facilitate remote work and learning, ensuring clear and effective communication. The competitive market for video conferencing solutions in South Korea also pushes companies to offer the best possible quality, including 1080p resolution, to attract and retain users.

Cultural factors and economic dynamics play a crucial role in the preference for 1080p resolution. There is a strong cultural emphasis on high-quality visuals and audio, driving the demand for higher resolution video conferencing solutions to ensure professional communication. Additionally, the cost of 1080p capable devices and internet plans has become more affordable, making high-quality video conferencing accessible to a larger population. The integration of advanced technologies such as AI into 1080p video conferencing solutions enhances user experience and future-proofs communication infrastructure, ensuring that these solutions remain relevant as technology advances. These factors collectively ensure that 1080p resolution remains the dominant choice for video conferencing in South Korea.

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Desktop Dominance in South Korea’s Video Conferencing Market to Contribute Over 46.8% Revenue to the Market

The dominance of desktops in South Korea’s video conferencing market can be attributed to the high penetration of PCs and laptops, the robust internet infrastructure, and the specific needs of various end-users. As of 2024, the PC market in South Korea is projected to reach USD 3.83 billion, with laptops accounting for a significant portion of this market at USD 2.29 billion. This widespread availability and usage of PCs and laptops provide a solid foundation for desktop-based video conferencing solutions.

South Korea’s advanced internet infrastructure, characterized by high-speed broadband and extensive 5G networks, further supports the use of desktops for video conferencing. The country boasts 50.30 million internet users and 66.39 million active cellular mobile connections, indicating a highly connected population. This connectivity is crucial for seamless video conferencing experiences, which require stable and high-speed internet connections. Additionally, the high market penetration of Windows operating systems (89.24%) on desktops ensures compatibility with most video conferencing software, making desktops a preferred choice for many users.

The video conferencing market in South Korea is also driven by the specific needs of different sectors, including education, business, and healthcare. The IT and telecom segments, in particular, have seen significant investments in advanced technologies, leading to increased demand for conferencing solutions. The preference for desktops in these sectors can be attributed to their superior hardware capabilities, such as larger screens and better processing power, which enhance the video conferencing experience. Moreover, the security and data protection feature available on desktops make them a reliable choice for professional and sensitive communications.

Top 7 Players Holds Over 82% Market Share South Korea Video Conferencing Market

The market in South Korea appears quite competitive, with a mix of domestic champions like Samsung alongside major global players such as Cisco Systems, Inc., Huawei Technologies, Microsoft Corporation, Zoom Video Communications, and Logitech. These top 7 players are collectively holding more than 82% market share.

Zoom’s dominance in the South Korean video conferencing market is evident from its impressive user base and engagement levels. In October 2020, Zoom was the most popular team communication app in the country, boasting around 3,050 thousand monthly active users (MAU). This high level of engagement highlights Zoom’s strong foothold in the South Korean market. The COVID-19 pandemic further boosted Zoom’s user base, with a significant increase in users during March and April 2020 as schools reopened amidst social distancing measures. This surge was not limited to educational institutions; businesses and individuals also turned to Zoom for remote work and social connections.

Zoom’s technological capabilities have been a key factor in its widespread adoption. The platform offers a proprietary video compression codec that ensures high-quality video and audio communication. Additionally, Zoom’s all-in-one solution for video, audio, screen sharing, and messaging across any device makes it a versatile tool for various applications. The integration of AI-driven language translation has made it easier for non-English speakers to use the platform effectively, which is particularly beneficial in a multilingual country like South Korea. Zoom’s solid market reputation worldwide, built over more than twelve years as an industry pioneer, and its business model, which includes a freemium approach and subscription fees, have made it accessible to a wide range of users, from small businesses to large enterprises in the South Korea video conferencing market.

South Korea Video Conferencing Market Key Players

  • 8×8
  • Adobe Inc.
  • Amazon Web Services
  • Avaya LLC
  • Cisco System Inc. (Webex)
  • Google, LLC (Google Meet)
  • Huawei Technologies Co., Ltd.
  • LG Electronics
  • Logitech International S.A.
  • LogMeIn (GoTo)
  • Microsoft Corporation
  • Plantronics, Inc.
  • Ring Central
  • Samsung Electronics
  • Sony Group Corporation
  • Vidyo, Inc.
  • Zoom
  • ZTE Corporation
  • Other Prominent Players

Key Segmentation:

By Component

  • Hardware
    • Camera
    • Codec
    • Microphone/Speaker
    • Others
  • Software Tools
  • Services
    • Professional
    • Managed Services

 By Deployment

  • Cloud
  • On-Premises

By Conference Type

  • Telepresence Video Conferencing
  • Mobile Video Conferencing
  • Desktop Video Conferencing
  • Service-based Video Conferencing

By Video Resolution

  • 720p (HD)
  • 1080p (FHD)
  • 4K (UHD)
  • 8K (UHD)

By Application

  • Education, Training and Development
  • Marketing and Client Engagement
  • Team Collaboration
  • Recruitment
  • Others

By Enterprise Size

  • Large Enterprise
  • Small and Medium Enterprise (SMEs)

By Industry

  • BFSI
  • IT & Telecom
  • Education
  • Healthcare
  • Government & Défense
  • Media & Entertainment
  • Retail & E-Commerce
  • Others

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