IoT Outlook

The IoT market is showing steady growth worldwide.The global Internet of Things (IoT) market size is expected to grow from $384.5 billion in 2021 to $566.4 billion in 2027, reaching 6.7% annually.

South Korea's Internet of Things (IoT) market is also expected to grow 7.9% over the next five years from this year to reach 38 trillion won in 2025.³. This is the result of the trend in which the introduction of IoT technology is recognized as essential due to the explosion of demand for non-face-to-face and non-contact technologies due to the COVID-19 incident.

It is analyzed that the spread of 5G communication technology, increased data center needs due to increased adoption of cloud platforms, increased wireless smart sensors and network users, increased IP addresses and improved security solutions will drive market growth.

Source:
"IoT market size: USD 566.4 billion in 2027, driving 5G and smart sensors..." https://bing.com/search?q=IoT+%ec%a0%84%eb%a7%9d .
Korea IDC 38 trillion won in the domestic IoT market in 2025...Starting this year, the economy has grown by 7.9 percent.https://www.ajunews.com/view/20211025102055228.
[IoT] Future prospects and status of the Internet of Things - IT is True. https://ittrue.tistory.com/20 .
"IoT market size: USD 566.4 billion in 2027, driving 5G and smart sensors..." https://www.ciokorea.com/news/212844 .
Internet of Things (IoT) industry trends and prospects for development - DATA ON-AIR. https://dataonair.or.kr/upload/24/20161012147624829970310.pdf .