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Dec 2017 - Market Presentation - Doc # AP43217417

1H17 Country Report on IT Services - Korea

Authors: Steffi Han, Min Kim
On-line Presentation


This IDC Presentation analyzes in detail the market and competitive landscape in IT services in Korea from January to June 2017 (1H17). It covers the market size movements and growth trends in each of the macromarkets (i.e., project-oriented, outsourcing, and support and training services) as well as the key industries such as finance, manufacturing and resources, public sector, distribution and services, and infrastructure. The report also provides a market and vendor analysis of 3rd Platform technologies as the key market drivers. The competitive analysis section includes key strategies and activities of large global and local IT services providers in the market.

The data and insights within this presentation are a part of the "Asia/Pacific Semiannual Services Tracker" research, which covers 14 foundation markets across 14 Asia/Pacific countries.

The project-oriented market experienced modest growth after several cycles of sluggish growth, led by major deal wins in the finance and manufacturing sectors. There was continued growth in the demand for IT outsourcing, driven by the manufacturing and insurance sectors.

Market spending on new technology areas such as cloud and big data increased. The government sector continued the cloud migration project for major government systems, while leading banks have started to expand their big data projects (i.e. building big data platforms and usage systems).

Several big trends such as post-next generation systems in banking and finance, IFRS4 (International Financial Reporting Standards) in insurance, and datacenter construction and migration played a key role in driving growth in finance.

Investments into the implementation of smart solution areas such as smart factory would continue to increase in the manufacturing sector. This trend is expected to drive innovation in this industry by introducing new technologies such as IoT, VR, analytics, cloud, and mobility.

Major local leading players are expected to reinforce new businesses such as cloud, AI-based chatbot, big data, blockchain, and smart factory in the near future.