South Korea's domestic cloud market revenue exceeded 9 trillion won for the first time in 2024, posting a 25.2% surge from the previous year. The growth is attributed to massive cloud demand driven by generative AI, combined with sustained efforts by the government and the cloud industry.
The Ministry of Science and ICT (MSIT) and the National IT Industry Promotion Agency (NIPA) on the 27th released the results of the "2025 Cloud Industry Survey," a comprehensive analysis of the overall state of the domestic cloud industry in 2024.
According to the survey, cloud market revenue in 2024 reached 9.2609 trillion won, a 25.2% increase from 7.4 trillion won the previous year. Domestic cloud revenue has posted a compound annual growth rate of 23.2% over the past five years, maintaining steady growth.
In particular, by service type in 2024, the Infrastructure-as-a-Service (IaaS) segment accounted for the largest share at 3.94 trillion won, up 24.4% year-on-year. In terms of growth rate, the Cloud Management Services (CMS) segment stood out. CMS revenue reached 1.48 trillion won, jumping 31.4% from the previous year.
