+ Ranked No. 1 in domestic market share among Managed Cloud Service Providers (MSP); also No. 1 among Korean cloud service providers (CSP)
+ Recognized for its technological power, including successful cloud migration and application modernization
+ Plans to continue expanding generative AI-based cloud services
Samsung SDS was recognized as the top cloud service provider in Korea.
According to the Korea Managed Cloud Services Market Share 2023 report, released by the global IT market intelligence firm IDC, Samsung SDS secured the No. 1 position. The company also ranked second (first among domestic players) in the Korea Public Cloud Services Market Share 2023, solidifying its position as an undisputed No. 1 cloud service provider in Korea.
IDC analyzes market share and the competitive landscape of cloud service providers, mainly focusing on their business performance, and releases market share reports.
IDC announced that Samsung SDS ranked No. 1 with a 23.9% market share in IDC’s assessment of MSPs in Korea. This is a new assessment performed for the first time. MSPs efficiently manage corporate customers’ cloud usage and provide them with related services, including network and infrastructure management, security, and monitoring.
The reports highlighted Samsung SDS’ growth rate, which surpassed last year’s record. Samsung SDS achieved this by successfully carrying out cloud migration and application modernization projects for Samsung affiliates (including Samsung Electronics), as well as for its customers in the manufacturing, financial, and retail sectors, such as Korean Air and Hanwha Life.
Additionally, IDC stated that Samsung SDS secured the no. 2 position in the Korean CSP market with an 11.0% market share, making it No.1 among Korean CSPs. IDC also mentioned that Samsung SDS strengthened its market presence and increased customer satisfaction by successfully transitioning the systems of its customers in the public, manufacturing, and financial sectors, along with those of Samsung affiliates, to the Samsung Cloud Platform (SCP)-based cloud services.
Samsung SDS aggressively pursued business in all cloud areas, including SCP-based CSP, all-in-one MSP, and SaaS. As a result, the company recorded 1.7238 trillion won in revenue in the third quarter of 2024, achieving a 30% growth compared to 2023.
Meanwhile, Samsung SDS was chosen as a major player in the IDC MarketScape: Worldwide Cloud Professional Services 2024 Vendor Assessment announced June last year. Samsung SDS was the only Korean company to stand shoulder to shoulder with top-tier global IT cloud service providers, such as IBM, Dell, and KPMG.
The IDC MarketScape report comprehensively analyzes and announces companies’ product and service competitiveness. It also looks at their customer segments and business strategies for the next three to five years.
IDC highlighted differentiated consulting, cloud migration/implementation services, and the cloud platform (SCP) as Samsung SDS’s strengths. IDC also highly valued the company’s business strategies and employee capabilities.
Jeong-heon Lee, Executive Vice President and the Leader of the Strategic Marketing Office said, “We have long endeavored to provide secure cloud services to Samsung affiliates and customers both in Korea and abroad. We are pleased to be recognized as the No. 1 service provider in the domestic market. We will leverage our accumulated IT experience and competence to become a strategic partner in our customers’ journey for business innovation, cloud, and generative AI.
1. Source:
- Korea Managed Cloud Services Market Share, 2023
- Korea Public Cloud Services Market Share, 2023
