#Factoftheweek
South Korea’s cellular M2M and IoT (Internet of Things) services market is projected to grow from $578 million in 2024 to about $900 million by 2029, which represents an 8.6% growth rate.
GlobalData suggests major factors fueling this growth include:
- Great 5G penetration.
- Smart manufacturing government programs and financial support.
- Broad demand in smart cities, smart buildings, connected transportation, and more.
Telcos are bundling device management platforms and industry-specific IoT solutions to retain and monetize enterprise customers. What do you think? Will South Korea’s telcos become major IoT ecosystem architects?