Conference Room Solution Industry Analysis in Korea
Demand Forecast for Conference Room Solution in Korea, by Hardware and Software Component, 2023 to 2033
Green-Tech Innovations Set the Tone for Korea's Conference Rooms, Offering a Fertile Ground for Service Providers to Flourish in the Era of Eco-conscious Collaboration
Analytical Study of Conference Room Solution Landscape in Korea from 2023 to 2033
Adoption of conference room solution in Korea is to exhibit a CAGR of 11.5% through 2033. This sets the stage for substantial opportunities in the industry, which is valued at US$ 41.7 million in 2023. The integration of AR and VR technologies into conference room solution can enhance user experiences for virtual meetings, presentations, and training. These emerging technologies can open up new opportunities. Korea is projected to attain a conference room solution industry value of US$ 125.5 million by 2033.
Attributes
Details
Industry Size in 2023
US$ 41.7 million
Expected Industry Size by 2033
US$ 125.5 million
Forecasted CAGR from 2023 to 2033
11.5%
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Key Insights - Highlights to Understand Emerging and Fast Growing Opportunities
Data security and privacy are of paramount concern with the increasing use of digital tools for communication. Conference room solution providers that can ensure robust security features are in high demand.
Korea is showing a growing interest in sustainable and environmentally friendly technologies. Conference room solution that incorporate energy-saving and eco-friendly features are gaining attention.
Korea has a strong education sector, and there is a growing need for distance learning solutions. Conference room solution catering to educational institutions for virtual classrooms and online lectures have significant growth potential.
Key Trends Influencing Demand for Conference Room Solution in Korea
Many companies in Korea are adopting hybrid work models, which necessitates more advanced conference room solution to facilitate communication between in-office and remote workers.
The government in Korea has been supporting initiatives related to digital transformation. These initiatives have created opportunities for companies providing conference room solution to cater to the evolving business landscape.
Businesses in Korea are increasingly looking to make their office spaces smarter by integrating various technologies. Conference room solution that can seamlessly connect with other smart office technologies are in high demand.
Find your sweet spots for generating winning opportunities in this market.
Comparative View of Adjacent Conference Room Solution in Key Regions
The provided table offers a comparative overview of conference room solution and their respective adoption rates in three key regions: Korea, Western Europe, and Japan.
SMEs represent a substantial portion of the business landscape in Korea. There is a growing need for cost-effective conference room solution tailored to the budgets and requirements of smaller organizations.
Industry Analysis of Conference Room Solution in Korea:
Attributes
Industry Analysis of Conference Room Solution in Korea
CAGR from 2023 to 2033
11.5%
Industry Size in 2023
US$ 41.7 million
Key Trend
Cloud based conference room solution that seamlessly integrate with popular cloud services like Google Workspace and Microsoft 365 are in demand, enabling efficient document sharing and collaboration.
Key Challenge
Data breaches and cybersecurity threats can erode trust in digital communication solutions. Companies may hesitate to adopt conference room solution if they perceive security risks.
Demand for Conference Room Solution Industry in Western Europe:
Attributes
Demand for Conference Room Solution Industry in Western Europe
CAGR from 2023 to 2033
13.8%
Industry Size in 2023
US$ 286.0 million
Key Trend
The adoption of remote work and hybrid work models has increased the demand for advanced conference room solution that can support seamless collaboration between in-office and remote employees.
Key Challenge
High profile data breaches and cybersecurity threats can lead to concerns about the security of video conferencing and conference room solution, deterring some organizations from adopting these technologies.
Analysis of Conference Room Solution Industry in Japan:
Attributes
Analysis of Conference Room Solution Industry in Japan
CAGR from 2023 to 2033
20.1%
Industry Size in 2023
US$ 114.1 million
Key Trend
Japan is known for its advanced technology infrastructure. The adoption of 5G technology, high speed internet connectivity, and cutting edge hardware and software technologies has fueled the need for sophisticated conference room solution.
Key Challenge
The initial investment in conference room solution, including hardware and software, can be a significant barrier for smaller businesses and startups.
Category-wise insights
Korea's Tech-forward Landscape Drives the Demand for Advanced Hardware Solutions
Based on component, the hardware segment is expected to account for a share of 45.8% in 2023. The growing adoption of video conferencing in Korea, driven by remote work and virtual meetings, has led to an increased demand for high-quality video conferencing hardware components, such as cameras, displays, and microphones.
Conference Room Solution in Korea based on Component
Hardware
Industry Share in % in 2023
45.8%
Korea is known for its advanced technology infrastructure. Businesses and organizations in the country often seek the latest and highly advanced hardware solutions to ensure superior audio and video quality during meetings. The shift toward hybrid work models, where employees split their time between the office and remote work, has created a need for well-equipped conference rooms with state-of-the-art hardware components to facilitate communication between in-office and remote team members.
IT Telecom Segment Splashes Reach High as Compared to Other Verticals
In terms of verticals, the IT telecom sector is projected to hold a 20.7% share in 2023. The IT and telecom industry relies heavily on effective communication. There is a heightened demand for advanced conference room solution due to the growing need for virtual meetings, remote collaboration, and client interactions.
Conference Room Solution in Korea based on Vertical
IT Telecom
Industry Share in % in 2023
20.7%
The IT and telecom sector is at the forefront of digital transformation efforts in Korea. These efforts include the adoption of advanced communication and collaboration tools, creating opportunities for conference room solution providers. Companies in the IT and telecom sector often collaborate with global clients and partners. Conference room solution that support international communication and multilingual capabilities are highly valued. The IT and telecom industry is increasingly embracing hybrid work models, which necessitate well-equipped conference rooms that can seamlessly connect remote and in-office employees.
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Province-wise Insights
Technological Advancements to Boost the Industry in the South Gyeongsang
South Gyeongsang is known for its technological advancements, including a robust IT infrastructure and a thriving tech industry. This technological foundation can strongly support the adoption of conference room solution.
The province boasts a growing business community, comprising small and medium-sized enterprises (SMEs) and large corporations. These businesses may seek advanced conference room solution to meet their communication needs.
Government initiatives aimed at promoting digital transformation and technological development can create a conducive environment for the adoption of conference room solution in South Gyeongsang.
Educational Institutions in North Jeolla to Enhance the Conference Room Solution Landscape
North Jeolla has been experiencing economic growth and attracting businesses, leading to an increased demand for communication solutions like conference room systems. The provincial government may support technological advancements, providing incentives and funding for businesses to invest in digital communication solutions.
North Jeolla is home to several educational institutions. The need for virtual classrooms and online lectures has created a demand for advanced conference room solution in the education sector. Healthcare facilities in the region may require telemedicine solutions, driving the adoption of conferencing technology in medical settings.
Tourism Sector in Jeju to Accelerate the Ecosystem
Jeju is a key tourist destination. The hospitality and tourism sector often require advanced conferencing solutions for events, conferences, and guest services. The local government frequently encourage technological development and digital transformation, creating a favorable environment for the adoption of conferencing solutions.
Jeju is known for hosting international conferences and events. Conference room solution that meet the specific needs of event organizers can find a niche in this industry. Customizing conferencing solutions to align with the language and cultural preferences of the region can enhance adoption.
Competitive Landscape
The competitive landscape of the conference room solution industry in Korea is expected to continue evolving as the industry grows and technology advances. Companies need to stay agile, innovate, and provide exceptional customer support to thrive in this competitive environment. Compliance with data privacy regulations and alignment with the specific needs of businesses in Korea are likely to be crucial for success in the industry.
Recent Developments Observed in Conference Room Solution Industry in Korea
In 2023, LG Electronics announced the launch of its new LG One: Quick Works video conferencing system. The system is designed to be easy to use and manage, offering a variety of features such as 4K video resolution, noise cancellation, and screen sharing.
In 2023, Samsung Electronics announced the launch of its new Samsung Flip Pro interactive whiteboard. This whiteboard is designed for use in conference rooms and other collaboration spaces, providing a variety of features including multiple writing modes, screen sharing, and cloud storage.
Some of the Key Players with Conference Room Solution in Korea
LG Electronics
Samsung Electronics
Cisco Systems
Polycom
Yealink
Crestron
Extron
Shure
Logitech
BenQ
ViewSonic
Epson
Scope of the Report
Attribute
Details
Estimated Industry Size in 2023
US$ 41.7 million
Projected Industry Size by 2033
US$ 125.5 million
Anticipated CAGR from 2023 to 2033
11.5% CAGR
Historical Analysis of Demand for Conference Room Solution in Korea
2018 to 2022
Demand Forecast for Conference Room Solution in Korea
2023 to 2033
Report Coverage
Industry Size, Industry Trends, Analysis of key factors influencing Conference Room Solution adoption in Korea, Insights on Global Players and their Industry Strategy in Korea, Ecosystem Analysis of Manufacturers in Korea
Key Provinces Analyzed while Studying Opportunities in Conference Room Solution in Korea
South Gyeongsang
North Jeolla
South Jeolla
Jeju
Key Companies Profiled
LG Electronics
Samsung Electronics
Cisco Systems
Polycom
Yealink
Crestron
Extron
Shure
Logitech
BenQ
ViewSonic
Epson
Key Segments
By Component:
Hardware
Flat Screens
Projectors
Cameras
Interactive/Digital Whiteboards
Software
Unified Communication and Collaboration
Document Management
Meeting Organizers/Scheduling
Others
Services
Professional Services
Consulting
Implementation and Integration
Training
Managed Services
By Enterprises Size:
Small & Medium Enterprises (SMEs)
Large Enterprises
By Vertical:
IT & Telecom
BFSI
Healthcare
Retail
Media & Entertainment
Transportation & Logistics
Education
Manufacturing
Others
By Province:
South Gyeongsang
North Jeolla
South Jeolla
Jeju
Frequently Asked Questions
What is the Current Size of the Conference Room Solution Industry in Korea?
The conference room solution industry in Korea is valued at US$ 41.7 million in 2023.
What is the Projected Growth Rate for the Conference Room Solution Ecosystem in Korea?
The anticipated CAGR for conference room solution industry in Korea through 2033 is 11.5%.
How big will be the Demand for the Conference Room Solution Landscape in Korea?
Demand for conference room solution in Korea is expected to reach US$ 125.5 million by 2033.
Which is the Preferred Component for Conference Room Solution in Korea?
Hardware is the preferred component in Korea's conference room solution industry.
Which Vertical Contributes Significantly to the Conference Room Solution Industry in Korea?
The IT & telecom sector significantly contributes to Korea's conference room solution industry.
Table of Content
1. Executive Summary
1.1. Market Outlook
1.2. Demand-side Trends
1.3. Supply-side Trends
1.4. Technology Roadmap Analysis
1.5. Analysis and Recommendations
2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations
3. Market Background
3.1. Market Dynamics
3.1.1. Drivers
3.1.2. Restraints
3.1.3. Opportunity
3.1.4. Trends
3.2. Scenario Forecast
3.2.1. Demand in Optimistic Scenario
3.2.2. Demand in Likely Scenario
3.2.3. Demand in Conservative Scenario
3.3. Opportunity Map Analysis
3.4. Investment Feasibility Matrix
3.5. PESTLE and Porter’s Analysis
3.6. Regulatory Landscape
3.6.1. By Key Regions
3.7. Regional Parent Market Outlook
4. Industry Analysis and Outlook 2018 to 2022 and Forecast, 2023 to 2033
4.1. Historical Market Size Value (US$ Million) Analysis, 2018 to 2022
4.2. Current and Future Market Size Value (US$ Million) Projections, 2023 to 2033
4.2.1. Y-o-Y Growth Trend Analysis
4.2.2. Absolute $ Opportunity Analysis
5. Industry Analysis and Outlook 2018 to 2022 and Forecast 2023 to 2033, By Component
5.1. Introduction / Key Findings
5.2. Historical Market Size Value (US$ Million) Analysis By Component, 2018 to 2022
5.3. Current and Future Market Size Value (US$ Million) Analysis and Forecast By Component, 2023 to 2033
5.3.1. Hardware
5.3.1.1. Flat Screens
5.3.1.2. Projectors
5.3.1.3. Cameras
5.3.1.4. Interactive/Digital Whiteboards
5.3.2. Software
5.3.2.1. Unified Communication and Collaboration
5.3.2.2. Document Management
5.3.2.3. Meeting Organizers/Scheduling
5.3.2.4. Others
5.3.3. Services
5.3.3.1. Consulting
5.3.3.2. Implementation and Integration
5.3.3.3. Training
5.3.3.4. Managed Services
5.4. Y-o-Y Growth Trend Analysis By Component, 2018 to 2022
5.5. Absolute $ Opportunity Analysis By Component, 2023 to 2033
6. Industry Analysis and Outlook 2018 to 2022 and Forecast 2023 to 2033, By Enterprises Size
6.1. Introduction / Key Findings
6.2. Historical Market Size Value (US$ Million) Analysis By Enterprises Size, 2018 to 2022
6.3. Current and Future Market Size Value (US$ Million) Analysis and Forecast By Enterprises Size, 2023 to 2033
6.3.1. Small & Medium` Enterprises (SMEs)
6.3.2. Large Enterprises
6.4. Y-o-Y Growth Trend Analysis By Enterprises Size, 2018 to 2022
6.5. Absolute $ Opportunity Analysis By Enterprises Size, 2023 to 2033
7. Industry Analysis and Outlook 2018 to 2022 and Forecast 2023 to 2033, By Vertical
7.1. Introduction / Key Findings
7.2. Historical Market Size Value (US$ Million) Analysis By Vertical, 2018 to 2022
7.3. Current and Future Market Size Value (US$ Million) Analysis and Forecast By Vertical, 2023 to 2033
7.3.1. IT & Telecom
7.3.2. BFSI
7.3.3. Healthcare
7.3.4. Retail
7.3.5. Media & Entertainment
7.3.6. Transportation & Logistics
7.3.7. Education
7.3.8. Manufacturing
7.3.9. Others
7.4. Y-o-Y Growth Trend Analysis By Vertical, 2018 to 2022
7.5. Absolute $ Opportunity Analysis By Vertical, 2023 to 2033
8. Industry Analysis and Outlook 2018 to 2022 and Forecast 2023 to 2033, By Region
8.1. Introduction
8.2. Historical Market Size Value (US$ Million) Analysis By Region, 2018 to 2022
8.3. Current Market Size Value (US$ Million) Analysis and Forecast By Region, 2023 to 2033
8.3.1. South Gyeongsang
8.3.2. North Jeolla
8.3.3. South Jeolla
8.3.4. Jeju
8.3.5. Rest of Korea
8.4. Market Attractiveness Analysis By Region
9. South Gyeongsang Industry Analysis and Outlook 2018 to 2022 and Forecast 2023 to 2033
9.1. Historical Market Size Value (US$ Million) Trend Analysis By Market Taxonomy, 2018 to 2022
9.2. Market Size Value (US$ Million) Forecast By Market Taxonomy, 2023 to 2033
9.2.1. By Component
9.2.2. By Enterprises Size
9.2.3. By Vertical
9.3. Market Attractiveness Analysis
9.3.1. By Component
9.3.2. By Enterprises Size
9.3.3. By Vertical
9.4. Key Takeaways
10. North Jeolla Industry Analysis and Outlook 2018 to 2022 and Forecast 2023 to 2033
10.1. Historical Market Size Value (US$ Million) Trend Analysis By Market Taxonomy, 2018 to 2022
10.2. Market Size Value (US$ Million) Forecast By Market Taxonomy, 2023 to 2033
10.2.1. By Component
10.2.2. By Enterprises Size
10.2.3. By Vertical
10.3. Market Attractiveness Analysis
10.3.1. By Component
10.3.2. By Enterprises Size
10.3.3. By Vertical
10.4. Key Takeaways
11. South Jeolla Industry Analysis and Outlook 2018 to 2022 and Forecast 2023 to 2033
11.1. Historical Market Size Value (US$ Million) Trend Analysis By Market Taxonomy, 2018 to 2022
11.2. Market Size Value (US$ Million) Forecast By Market Taxonomy, 2023 to 2033
11.2.1. By Component
11.2.2. By Enterprises Size
11.2.3. By Vertical
11.3. Market Attractiveness Analysis
11.3.1. By Component
11.3.2. By Enterprises Size
11.3.3. By Vertical
11.4. Key Takeaways
12. Jeju Industry Analysis and Outlook 2018 to 2022 and Forecast 2023 to 2033
12.1. Historical Market Size Value (US$ Million) Trend Analysis By Market Taxonomy, 2018 to 2022
12.2. Market Size Value (US$ Million) Forecast By Market Taxonomy, 2023 to 2033
12.2.1. By Component
12.2.2. By Enterprises Size
12.2.3. By Vertical
12.3. Market Attractiveness Analysis
12.3.1. By Component
12.3.2. By Enterprises Size
12.3.3. By Vertical
12.4. Key Takeaways
13. Rest of Industry Analysis and Outlook 2018 to 2022 and Forecast 2023 to 2033
13.1. Historical Market Size Value (US$ Million) Trend Analysis By Market Taxonomy, 2018 to 2022
13.2. Market Size Value (US$ Million) Forecast By Market Taxonomy, 2023 to 2033
13.2.1. By Component
13.2.2. By Enterprises Size
13.2.3. By Vertical
13.3. Market Attractiveness Analysis
13.3.1. By Component
13.3.2. By Enterprises Size
13.3.3. By Vertical
13.4. Key Takeaways
14. Market Structure Analysis
14.1. Competition Dashboard
14.2. Competition Benchmarking
14.3. Market Share Analysis of Top Players
14.3.1. By Regional
14.3.2. By Component
14.3.3. By Enterprises Size
14.3.4. By Vertical
15. Competition Analysis
15.1. Competition Deep Dive
15.1.1. Cisco Systems, Inc.
15.1.1.1. Overview
15.1.1.2. Product Portfolio
15.1.1.3. Profitability by Market Segments
15.1.1.4. Sales Footprint
15.1.1.5. Strategy Overview
15.1.1.5.1. Marketing Strategy
15.1.2. Microsoft Corporation
15.1.2.1. Overview
15.1.2.2. Product Portfolio
15.1.2.3. Profitability by Market Segments
15.1.2.4. Sales Footprint
15.1.2.5. Strategy Overview
15.1.2.5.1. Marketing Strategy
15.1.3. Huawei Technologies Co. Ltd.
15.1.3.1. Overview
15.1.3.2. Product Portfolio
15.1.3.3. Profitability by Market Segments
15.1.3.4. Sales Footprint
15.1.3.5. Strategy Overview
15.1.3.5.1. Marketing Strategy
15.1.4. Alphabet, Inc. (Google)
15.1.4.1. Overview
15.1.4.2. Product Portfolio
15.1.4.3. Profitability by Market Segments
15.1.4.4. Sales Footprint
15.1.4.5. Strategy Overview
15.1.4.5.1. Marketing Strategy
15.1.5. Adobe Systems Incorporated
15.1.5.1. Overview
15.1.5.2. Product Portfolio
15.1.5.3. Profitability by Market Segments
15.1.5.4. Sales Footprint
15.1.5.5. Strategy Overview
15.1.5.5.1. Marketing Strategy
15.1.6. LogMeIn, Inc.
15.1.6.1. Overview
15.1.6.2. Product Portfolio
15.1.6.3. Profitability by Market Segments
15.1.6.4. Sales Footprint
15.1.6.5. Strategy Overview
15.1.6.5.1. Marketing Strategy
15.1.7. Polycom (Plantronics, Inc.)
15.1.7.1. Overview
15.1.7.2. Product Portfolio
15.1.7.3. Profitability by Market Segments
15.1.7.4. Sales Footprint
15.1.7.5. Strategy Overview
15.1.7.5.1. Marketing Strategy
15.1.8. Zoom Video Communications, Inc.
15.1.8.1. Overview
15.1.8.2. Product Portfolio
15.1.8.3. Profitability by Market Segments
15.1.8.4. Sales Footprint
15.1.8.5. Strategy Overview
15.1.8.5.1. Marketing Strategy
15.1.9. ZTE Corporation
15.1.9.1. Overview
15.1.9.2. Product Portfolio
15.1.9.3. Profitability by Market Segments
15.1.9.4. Sales Footprint
15.1.9.5. Strategy Overview
15.1.9.5.1. Marketing Strategy
15.1.10. Biamp
15.1.10.1. Overview
15.1.10.2. Product Portfolio
15.1.10.3. Profitability by Market Segments
15.1.10.4. Sales Footprint
15.1.10.5. Strategy Overview
15.1.10.5.1. Marketing Strategy
15.1.11. ClearOne
15.1.11.1. Overview
15.1.11.2. Product Portfolio
15.1.11.3. Profitability by Market Segments
15.1.11.4. Sales Footprint
15.1.11.5. Strategy Overview
15.1.11.5.1. Marketing Strategy
15.1.12. WolfVision
15.1.12.1. Overview
15.1.12.2. Product Portfolio
15.1.12.3. Profitability by Market Segments
15.1.12.4. Sales Footprint
15.1.12.5. Strategy Overview
15.1.12.5.1. Marketing Strategy
16. Assumptions & Acronyms Used17. Research Methodology
