South Korea Smart Home Market Share

Market Share of South Korea Smart Home Industry

The competitive rivalry in South Korea's smart home market is heavily influenced by the dominance of the broader home appliance sector. Major players like Google, LG Electronics Inc., Honeywell, Schneider Electric, and ABB boast strong brand identities, effective competitive strategies, and robust distribution networks, leading to heightened competition in the smart appliance arena.

Yet, the strategies employed differ across product segments, reflecting the market's diverse offerings. For example, in July 2024, Samsung revealed that more than 200,000 households from 248 apartment complexes in South Korea had signed up for SmartThings Pro. These sign-ups are specifically for integrating SmartThings Pro into their apartment complexes. Furthermore, Samsung partners with construction firms to implement SmartThings Pro in both residential and commercial properties.

Market leaders not only wield significant influence but also benefit from a solid brand reputation. Given that established brands are often associated with reliable performance, these seasoned players are poised to maintain a competitive edge.

Consequently, the intensity of competitive rivalry is currently high and is projected to persist throughout the forecast period.

South Korea Smart Home Market Leaders

1. Schneider Electric SE

2. Emerson Electric Co.

3. ABB Ltd.

4. Honeywell International Inc.

5. Siemens AG

*Disclaimer: Major Players sorted in no particular order