• Journal of Internet Computing and Services
    ISSN 2287 - 1136(Online) / ISSN 1598 - 0170 (Print)
    http://jics.or.kr/

An Analysis of the Economic Effects for the IoT Industry


Woo-Soo Jeong, Sa-Hyuk Kim, Kyoung-Sik Min, Journal of Internet Computing and Services, Vol. 14, No. 5, pp. 119-0, Oct. 2013
10.7472/jksii.2013.14.5.119, Full Text:
Keywords: M2M, IoT, RAS, Classification, economic effects

Abstract

As ICT technology becomes advanced, the importance of future internet is emphasized and in part of that, M2M (Machine-to Machine communications) is magnified in terms of importance and usage in public and private sector. M2M is emerging as a next generation strategic industry but there is no existing analyzed data or market classification, so it disrupts establishing policies on the M2M industry. As the technology is progressing, the evolution from M2M to IoT (Internet of Things) has started and many countries actively try to find technological trend through market analysis in order to develop new growth engine. Therefore, in order to strengthen competitiveness, we should secure differentiated capabilities in industry and service. This article examines Korea's domestic market and international market trends in IoT and analyses the economic impact of the IoT industry using quantitative methodology and evaluates relations between the IoT industry and other relevant industries. As a result, the effect of IoT industry on production inducement is KRW474.6 billion; the effect on value-added inducement is KRW314.7 billion; and it is measured that 3,628 jobs will be created by the IoT industry.


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Cite this article
[APA Style]
Woo-Soo Jeong, Sa-Hyuk Kim, & Kyoung-Sik Min (2013). An Analysis of the Economic Effects for the IoT Industry. Journal of Internet Computing and Services, 14(5), 119-0. DOI: 10.7472/jksii.2013.14.5.119.

[IEEE Style]
W. Jeong, S. Kim and K. Min, "An Analysis of the Economic Effects for the IoT Industry," Journal of Internet Computing and Services, vol. 14, no. 5, pp. 119-0, 2013. DOI: 10.7472/jksii.2013.14.5.119.

[ACM Style]
Woo-Soo Jeong, Sa-Hyuk Kim, and Kyoung-Sik Min. 2013. An Analysis of the Economic Effects for the IoT Industry. Journal of Internet Computing and Services, 14, 5, (2013), 119-0. DOI: 10.7472/jksii.2013.14.5.119.