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South Korea Consumer Electronics Market Size, Demand, Trends, Share, Regional Outlook, Industry Analysis, Growth Drivers, Opportunity Assessment, & Forecast 2017-2025
South Korea is a technology developed country and has huge technology penetration in the country. With the advancing technology, there is trend of smart offices and smart homes, and consumer electronics are vital part of it such as smart TV, smart refrigerator, smart air conditioners and more. LG Electronics had created Homechat, an app that assists users to monitor their appliances like refrigerators, cookers, washing machines and more, anywhere through their smartphones. This was introduced first in South Korea and then to other countries, making it a viable country for the test and launch of new products. Rising disposable income of the people of consumer electronics and their shift in preferences towards smart homes and smart offices environment, are thus majorly driving the growth of the industry. South Korea grew global companies such as Samsung Electronics and LG Electronics have the largest market share, where it is giving tough competition to Chinese and Japanese grown global players. The trend of including virtual reality (VR) in manufacturing of consumer electronic products is an added advantage to South Korea by achieving manufacturing efficiency and low costs. Moreover, gaming and entertainment applications of the products have further boosted the growth of the South Korea consumer electronic industry. Of the total electronic industry in South Korea, consumer electronics has around 67.3% market share, with major adoption among the middle and high-income group population. Consumer electronics market in South Korea is mature and therefore has huge penetration in the households. Goldstein Research analyst forecast that the South Korea consumer electronics industry is set to reach USD 15.3 billion by 2024, growing at a CAGR of 7.6% over the forecast period (2017-2025).
South Korea Consumer Electronics Industry Segmentation
By Product Type
Visual and Audio Products
Others (Headphones, etc.)
Major Home Appliances
Others (Cooktops, Etc.)
Small Home Appliances
Others (Kettle, etc.)
Based on visual and audio products, television segment accounted for largest market share of 43.7% in 2017 and has nearly 80% penetration in South Korea.
By Pricing Model
Medium Cost Products
High-End Products (Customized or luxury Brands)
By Distribution Channel
Online Distribution Channel
Offline Distribution Channel
By Business Model
Business to Business (B2B)
Business to Consumer (B2C)
Covered In This South Korea Consumer Electronics Industry Report
The report covers the present ground scenario and the future growth prospects of the consumer electronics industry for 2017-2025 along with the industry players’ analysis. We calculated the industry size and revenue share on the basis of revenue generated from major players in the South Korea region. South Korea's consumer electronics industry is forecasted on the basis of consumer electronics production and supply.
South Korea Consumer Electronics Industry Outlook 2017-2025, has been prepared based on an in-depth industry analysis from industry experts. The report covers the competitive landscape and current position of major players in the South Korea consumer electronics industry space. The report also includes porter’s five force model, SWOT analysis, company profiling, business strategies of industry players and their business models. “South Korea Consumer Electronics Industry Report” also recognizes value chain analysis to understand the cost differentiation, pricing models to provide a competitive advantage to the existing and new entry players.
Our South Korea consumer electronics industry report comprises of the following companies as the key players: Samsung, LG Electronics, Sony, Panasonic, Koninklijke Philips N.V., Haier Consumer Electronics Group, Logitech International, Onida Electronics, Toshiba, Videocon, Hitachi, Ltd., Hisense, TCL, etc.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive industry and vendor landscape in addition to a SWOT analysis of the key vendors.