DUBLIN--(BUSINESS WIRE)--Research and Markets (http://www.researchandmarkets.com/research/b5acf4/south_korea_inform) has announced the addition of the "South Korea Information Technology Report Q3 2011" report to their offering.
South Korea's IT market should record single-digit growth in 2011, consolidating an upturn in IT demand in 2010. BMI expects South Korean IT spending to increase from US$17.8bn in 2011 to US$25.6bn in 2015. There will be a number of key drivers and growth trends including cloud computing, IT outsourcing, and industry-specific software applications.
In 2011, consumer segment IT growth should be solid thanks to rising income levels Korean economy posts continued growth. Growing broadband penetration and demand for tablets and other new form factors will continue to be PC market growth drivers.
New cloud computing offerings should fuel further demand from companies to utilise this technology and drive investment in data centres. Korean financial services institutions are investing more in customeroriented strategies and to streamline complex operating environments.
South Korea announced that it was to spend US$224.5mn to prepare to launch fully fledged cloud computing services in 2010. Around 73% of the funds were to come from the state, with the money being used to develop technology and build infrastructure required to support the service. The government will also move to reform potential administrative and legal barriers to cloud computing, which it aims to complete by 2013.
A particular government focus is on encouraging small businesses to utilise cloud computing. In 2011, the Korea Technology and Information Promotion Agency for SMEs (TIPA) will launch programme for SMEs, under which between 50%-70% of the costs of cloud services are eligible for subsidy. A pilot project was run in 2010 and many leading telecoms and IT service providers are expected to participate in the tender.
South Korea plans to invest KRW400bn (US$341.1mn) by 2013 to help develop the domestic software industry. In 2010, the government announced that it would spend US$27.4mn to support a software training programme to produce more software entrepreneurs.
Read more inside 'South Korea Information Technology Report Q3 2011'
Companies Mentioned:
- IPTV
- WiBro
- Wireline Developments
- Samsung Electronics
For more information visit http://www.researchandmarkets.com/research/b5acf4/south_korea_inform