South Korea Automation & Industrial Control Market

Market Overview:

South Korea automation & industrial control market size reached US$ 6.9 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 12.3 Billion by 2032, exhibiting a growth rate (CAGR) of 6.50% during 2024-2032. The recent technological advancements, significant growing in the automotive and electronics industries, implementation of several government initiatives, rapid expansion of South Korean companies across the globe, and increasing labor costs represent some of the key factors driving the market.

Automation and industrial control systems refer to a collection of technologies that manage, command, direct, or regulate the behavior of other systems or devices. They are available in various types, including distributed control systems (DCS), programmable logic controllers (PLC), and supervisory control and data acquisition (SCADA), among others. Automation and industrial control systems are comprised of several components, including sensors, actuators, controllers, and networks to ensure seamless integration. They offer several features, such as real-time monitoring, process control, and data acquisition. Automation and industrial control systems are widely used in manufacturing, automotive, chemical processing, healthcare, utilities, and energy sectors. They are highly adaptable systems that aid in enhancing efficiency, reducing operational costs, improving safety, and providing real-time decision-making. In addition to this, automation and industrial control systems offer several advantages, such as increased reliability, scalability, precision, repeatability, speed, and sustainability.

South Korea Automation & Industrial Control Market Trends:

The growing demand for advanced automation and control systems due to technological innovations, such as Industry 4.0 and the Internet of Things (IoT), is propelling the market growth. Additionally, the significant growth in the automotive and electronics industries, which requires highly efficient systems, are contributing to the market growth. Furthermore, the implementation of several government initiatives focusing on automation and digitalization in industrial sectors is catalyzing the market growth. Besides this, the rising energy costs that are making industries turn toward automation for efficient energy utilization are acting as another growth-inducing factor. Apart from this, the rapid expansion of South Korean companies across the globe is facilitating the demand for automation to ensure standardized, high-quality products. Moreover, the increasing labor costs that are compelling industries to invest in automated systems to maintain profit margins are driving the market growth. Along with this, the implementation of strict government regulations and quality standards necessitating the use of precise control systems is bolstering the market growth. Moreover, the heightened awareness regarding the ability of these systems to easily scale operations, making them indispensable for growing businesses, is stimulating the market growth. Furthermore, the rapid urbanization, coupled with the development of smart cities in South Korea that are increasing the need for sophisticated control systems in utilities and public services, is driving the market growth. Besides this, the widespread adoption of advanced automation technologies, owing to the heightened consumer demand for high-quality and customized products, is supporting the market growth. Additionally, the increasing system utilization in the supply chain to ensure real-time tracking and efficient inventory management is strengthening the market growth across the country.

South Korea Automation & Industrial Control 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 product and end use industry.

Product Insights:

• Programmable Logic Controller (PLC)
• Distributed Control System (DCS)
• Supervisory Control and Data Acquisition System (SCADA)
• Human Machine Interface (HMI)
• Process Safety Systems
• Sensors and Transmitters
• Electric Motors
• Variable Frequency Drives
• Industrial Robotics
• Others
   

The report has provided a detailed breakup and analysis of the market based on the product. This includes programmable logic controller (PLC), distributed control system (DCS), supervisory control and data acquisition system (SCADA), human machine interface (HMI), process safety systems, sensors and transmitters, electric motors, variable frequency drives, industrial robotics, and others.

End Use Industry Insights:

• Automotive
• Chemical and Petrochemical
• Semiconductor and Electronics
• Oil and Gas
• Power Generation
• Water and Wastewater
• Others
   

A detailed breakup and analysis of the market based on the end use industry have also been provided in the report. This includes automotive, chemical and petrochemical, semiconductor and electronics, oil and gas, power generation, water and wastewater, 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 in the market. 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 Automation & Industrial Control Market Report Coverage:

Key Questions Answered in This Report:

• How has the South Korea automation & industrial control 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 automation & industrial control market?
• What is the breakup of the South Korea automation & industrial control market on the basis of product?
• What is the breakup of the South Korea automation & industrial control market on the basis of end use industry?
• What are the various stages in the value chain of the South Korea automation & industrial control market? 
• What are the key driving factors and challenges in the South Korea automation & industrial control?
• What is the structure of the South Korea automation & industrial control market and who are the key players?
• What is the degree of competition in the South Korea automation & industrial control 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 automation & industrial control market from 2018-2032.
• The research report provides the latest information on the market drivers, challenges, and opportunities in the South Korea automation & industrial control 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 automation & industrial control 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.