Read the Full Advanced Manufacturing Report from KBSI

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Read the Full Advanced Manufacturing Report from KBSI

Korean Industry Infographic Vol II. Issue 4 ADVANCED MANUFACTURING - ROBOTICS South Korea has announced to support 1,000 smart factories combined with 5G and AI capabilities by 2025; Accordingly, South Korea’s conglomerates, small businesses, and foreign companies are urging to make the smart factory transformation. According to DACO Intelligence 2020 report, “2020 IoT and AI based smart factory technology development strategy and market outlook”, the global smart factory market will reach to $205.4 billion by 2022, a 9.3% up annually. On the other hand, South Korea’s market for smart factory is expected to reach to $12.76 billion by 2022, which is the second- fastest growth in Asia after China with 12.2% annual growth. South Korea’s major suppliers of smart factory solutions Number of 5G & AI smart factories Conglomerates; in S. Korea by 2025 Samsung SDS, Posco ICT, CJ OliveNetworks Telecom Companies; 1000 SKT, KT, LG U Plus 600 Automation Robotics; 300 100 LS Electrics, Hyundai Robotics SMEs; 2021 2022 2024 2025 Testar-Hommel, ThiRA-UTECH, Zin Corporation Source: Ministry of SMEs and Startups Foreign Companies; Siemens, Schneider Electric In the era of industry 4.0, the robotics market also became an important sector for the nation's future growth engine. Currently, nearly 70% of the total robot market are industrial robots. The Korea SMEs and Startups Agency’s report in 2019 mentioned the largest demand for industrial robots worldwide is the automotive industry and the electric & electronics industry which are expected to accelerate the growth of the eco-friendly automotive market for electricity and hydrogen cars. Since the robot industry has become a key subject of industry of 4.0 that Korean government is spending $15 billion to expand the business market by 2023. Number of Market Size Number of Robotics’ companies For Robotics Industry Industrial Robots 20 700,000 $15 billion 320,000 6 $5.7 billion 2018 2023 2018 2023 2018 2023 Source 1: https://www.mk.co.kr/news/business/view/2020/07/782123/ Source 3: Image http://www.aitimes.kr/news/articleView.html?idxno=13528 Source 2: Korea SMEs and Startups Agency Image source: http://www.aitimes.kr/news/articleView.html?idxno=13528 P: +82-2-786-7701 E: [email protected] ‘All You Need for Successful Access to S. Korea’.

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FTSE Korea 30/18 Capped
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