News & Notice

News & Notice
Subject Three Technological Trends that Korean Businesses Must Know in 2016 Date 2016-03-16 17:20:36

“Three Technological Trends that Korean Businesses Must Know in 2016”

-KITA Suggests Three Major Technological Trends Such as IoT That Were Demonstrated at CES 2016-

KITA(Korea International Trade Association) is a public-private organization that has developed tradeKorea.comAs a leader in advancing export strategies, trade systems and procedures, KITA supports SMEs to find new customers and secures a wide range of business connections through database. If you want to know more about KITA, please click here.

As you touch a designated place presented through augmented reality technology from a smart phone, a robot cleaner starts its work. A compact size underwater sensor can transfer information such as location of particular fish or water temperature to your smart phone; people move about by riding on Segway equipped with artificial intelligence (AI) or an autonomous drone. These are not events in the far future. These are events that happen as of this moment, and these products were demonstrated at CES 2016 (Jan 6th~9th, Las Vegas). Unfamiliar terms and words like Internet of Things (IoT), Virtual Reality (VR), AI, drone have now become a part of our everyday lexicon.

KITA’s Institute for International Trade (Director Geuk-Su Kim, presents three types of technological trends ? in its report titled “ICT Convergence Product Trends and Implications Seen at CES 2016” ? to be focused based on technological changes appeared at CES 2016. The report has chosen the following as the key ideas: IoT technology in daily activities, actualization of the latest technology, and convergence of technology and industry beyond its boundaries. 

[Trend #1] Establishing smart life for consumers using IoT found in daily activities

The number of smart products with IoT technology is exploding and the establishment of smart-home platform based on super-connected IoT is becoming more common. Wearable gears related to daily activities are especially popular amongst such products. Samsung’s smart belt that manages abdominal obesity and Owlet’s smart sock that monitor’s baby’s vitals are just some examples among various IoT products that expand their boundaries to general goods beyond watches and bracelets. 

[Trend #2] Actualization of the latest technology, appearance of boundary technology

Some of the latest ICT products that were thought to lack marketability are now rushing into commercialization stage by transforming themselves into more practical forms. China’s Ehang showed off its latest drone technology by introducing the world’s very first autonomous drone capable of flying a person up to 100kg for 23 minutes. Taiwan’s XYZ introduced many low-cost products including its mini 3D printer only for $269. Various personal 3D printers with convenient features were introduced as well. As for VR which were thought to lack contents, over 10,000 visitors enjoyed trying VR at a special pavilion set up by Samsung. China’s 3D Inlife launched a low-cost VR device that only costs $35 compatible with a smart phone, suggesting popularization of VR. 

[Trend #3] Active convergence of technology and industry beyond its boundaries

As fast-developing ICT such as AI, drones, VR, augmented reality converges with various products and services, the boundaries amongst existing industries are disappearing. Ninebot introduced Segway that has transformed into a robot by implementing Intel’s AI technology, while DJI came out with new technology of applying real-time traffic information collected by a drone to Rinspeed’s autonomous vehicle, “Etos.”

The report emphasizes the fact that a number of products such as autonomous vehicles and augmented reality devices, spotlighted for their extreme innovation, have now already reached the commercialization level. According to Gartner’s Hype Cycle, which represents maturity of technologies, many innovative technologies are to reach their mature stage in the next five years. Moreover, the report urges expansion of Korean enterprises in the related industry as some products like wearable gears which fall in the beginning stage of the Hype Cycle actually form a huge market in the world economy. 

Officials from the Institute for International Trade commented that “the ICT convergence market is to grow quickly in the future. National-scale, active support for Korean businesses in terms of human resources, finance, and infrastructure regarding ICT convergence for market expansion is vital."


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