IMARC Group has recently released a new research study titled “South Korea Smart Cities Market Report by Focus Area (Smart Transportation, Smart Buildings, Smart Utilities, Smart Citizen Services), and Region 2025-2033”, offers a detailed analysis of the market drivers, segmentation, growth opportunities, trends and competitive landscape to understand the current and future market scenarios.
South Korea Smart Cities Market Overview
The South Korea smart cities market size reached USD 27,125.7 Million in 2024. It is projected to grow to USD 63,335.6 Million by 2033, exhibiting a CAGR of 9.88% during the forecast period from 2025 to 2033. The market growth is primarily driven by the rising need to create sophisticated ecosystems that enable real-time information gathering and intelligent decision-making by local authorities. Smart cities integrate IoT devices, sensors, and data analytics to enhance urban services such as energy management, transportation, healthcare, waste management, and public safety.
Study Assumption Years
- Base Year: 2024
- Historical Year/Period: 2019-2024
- Forecast Year/Period: 2025-2033
South Korea Smart Cities Market Key Takeaways
- Current Market Size: USD 27,125.7 Million (2024)
- CAGR: 9.88% (2025-2033)
- Forecast Period: 2025-2033
- The market is driven by the demand for real-time data collection and intelligent decision-making capabilities for urban authorities.
- Key areas of focus include energy management, transportation, healthcare, waste management, and public safety.
- Smart technologies aid in reducing resource consumption, mitigating traffic congestion, and promoting sustainability.
- South Korea’s commitment to smart cities aligns with sustainable and efficient urban development and technological innovation.
- The market encompasses segments such as smart transportation, smart buildings, smart utilities, and smart citizen services.
Sample Request Link: https://www.imarcgroup.com/south-korea-smart-cities-market/requestsample
Market Growth Factors
The South Korea smart cities market is propelled primarily by the growing necessity for metropolitan regions to develop sophisticated ecosystems. These ecosystems facilitate real-time information collection and enable local authorities to make intelligent, data-driven decisions. The increasing urbanization and the demand for efficient urban services such as energy management, transportation, healthcare, waste management, and public safety underscore the market growth. By integrating Internet of Things (IoT) devices, sensors, and data analytics, city administrators can better manage resource consumption and improve overall urban infrastructure.
Furthermore, the adoption of cutting-edge information and communication technology (ICT) to optimize resource allocation and infrastructure efficiency plays a critical role. Smart cities leverage ICT to provide seamless urban experiences for residents while mitigating traffic congestion and promoting sustainability. This integration is leading South Korea to the forefront of urban innovation and is a key factor driving the growth of the smart cities market over the forecast period.
South Korea’s strategic focus on smart city initiatives aligns with the global trend toward sustainable urban development. The country’s commitment positions it as a leader in technological innovation and urban planning. These initiatives not only enhance citizen well-being but also foster an environment where innovation and connectivity thrive, fueling the market’s expansion from 2025 to 2033 at a compounded annual growth rate of 9.88%.
Market Segmentation
Focus Area Insights:
- Smart Transportation
- Smart Ticketing
- Traffic Management System
- Passenger Information Management System
- Freight Information System
- Connected Vehicles
- Others
- Smart Buildings
- Building Energy Optimization
- Emergency Management System
- Parking Management System
- Others
- Smart Utilities
- Advanced Metering Infrastructure
- Distribution Management System
- Substation Automation
- Others
- Smart Citizen Services
- Smart Education
- Smart Healthcare
- Smart Public Safety
- Smart Street Lighting
- Others
Regional Insights
The report identifies the major regional markets for South Korea’s smart cities as the Seoul Capital Area, Yeongnam (Southeastern Region), Honam (Southwestern Region), Hoseo (Central Region), and others. Notably, the Seoul Capital Area is recognized as a dominant region. The report does not provide specific market share or CAGR values by region, but the overall market is expected to benefit from regional urban growth and technological adoption.
About Us
IMARC Group is a global management consulting firm that helps the world’s most ambitious changemakers to create a lasting impact. The company provide a comprehensive suite of market entry and expansion services. IMARC offerings include thorough market assessment, feasibility studies, company incorporation assistance, factory setup support, regulatory approvals and licensing navigation, branding, marketing and sales strategies, competitive landscape and benchmarking analyses, pricing and cost research, and procurement research.
Contact Us
IMARC Group,
134 N 4th St. Brooklyn, NY 11249, USA,
Email: sales@imarcgroup.com,
Tel No: (D) +91 120 433 0800,
United States: +1-201971-6302
