DUBLIN–(BUSINESS WIRE)–The “South Korea Data Center Market – Investment Analysis & Growth Opportunities 2023-2028” report has been added to ResearchAndMarkets.com’s offering.
The South Korea data center market size will reach USD 6.74 billion by 2028, growing at a CAGR of 9.89% from 2022 to 2028.
This report analyses the South Korea Data Center Market share. It elaboratively analyses the existing and upcoming facilities and investments in IT, electrical, mechanical infrastructure, general construction, and tier standards. It discusses market sizing and investment estimation for different segments.
The increasing demand for migration to cloud platforms by various sectors is attracting local and global cloud service providers. For instance, Neowiz, an online gaming company in South Korea, closed its on-premises data centers to shift to AWS and MegazoneCloud. Neowiz opted for AWS cloud because of its highly reliable and scalable infrastructure and secure environment.
In terms of 5G connectivity, telecom operators such as SK Telecom, KT Corp, LG Uplus, Samsung, Nokia, and Contela are involved in deploying the 5G network services across the country. For instance, Nokia announced the launch of its private 5G open lab at its Seoul office to support the development of 5G private wireless networks in the country.
The market is also witnessing the development of several smart city projects that will significantly benefit industrial land availability and data center construction opportunities in the coming years. For instance, in 2021, Sejong City and Hancom Group joined hands to develop a new smart city based on technologies such as artificial intelligence.
The government established several free economic zones, such as Incheon FEZ, Busan-Jinhae FEZ, Gwangyang Bay Area FEZ, and Yellow Sea FEZ, that will offer space for industrial development with benefits such as tax exemptions.
Government steps towards the personal data protection law named the Personal Information Protection Act (PIPA) and the establishment of the Korea Data Center Council have strengthened the South Korea data center market.
The country’s market is among the prominently growing markets with a significant rise in job opportunities, and the government of South Korea is leveraging the migration of foreign workforce. For instance, in June 2022, Tencent Cloud signed a four-party Memorandum of Understanding (MoU) with Megazone Cloud, Korea Mobile Game Association (KMGA), and Yeonsung University to encourage cloud-based mobile game developers in South Korea.
WHY SHOULD YOU BUY THIS RESEARCH?
VENDOR LANDSCAPE
COMPETITIVE LANDSCAPE
IT Infrastructure Providers:
Data Center Construction Contractors & Sub-Contractors:
Support Infrastructure Providers:
Data Center Investors:
New Entrants:
EXISTING VS. UPCOMING DATA CENTERS
The segmentation includes:
IT Infrastructure
Network Infrastructure
Electrical Infrastructure
Mechanical Infrastructure
Other Mechanical Infrastructure
General Construction
Physical Security
Tier Standard
Geography
For more information about this report visit https://www.researchandmarkets.com/r/hyvmgm
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