South Korea's Internet of Things (IoT) market in 2020 jumped by 28% , smart home , to nearly $4bn , with personal services, such as smart home and the South Korean Government , accounting for 31% . "We will strengthen our efforts to foster startups and small and medium-sized enterprises that are working in IoT," said the ministry in a statement. Around 1,212 firms were involved in IoT businesses with employees numbering between 10 to 49 accounting for 28% of those, highlighting that many start-ups and small enterprises were involved in IoT businesses. Last year it was announced that South Korea's had topped the global ranking on the number of IoT connected devices, following plans that the South Korean Government was investing $ 5bn by 2020 in IoT and smart cars.
South Korea's Internet of Things (IoT) market in 2020 jumped by 28% , smart home , to nearly $4bn , with personal services, such as smart home and the South Korean Government , accounting for 31% . Around 1,212 firms were involved in IoT businesses with employees numbering between 10 to 49 accounting for 28% of those, highlighting that many start-ups and small enterprises were involved in IoT businesses. Last year it was announced that South Korea's had topped the global ranking on the number of IoT connected devices, following plans that the South Korean Government was investing $ 5bn by 2020 in IoT and smart cars.