Latest News- LED Lighting Market in South Korea: Residential is expected to lead the Application segment during 2025-2029

The LED Lighting Market in South Korea is being driven by Need for LED lighting in hazardous areas

The LED Lighting Market in South Korea is expected to grow at a CAGR of 7.7% during 2024 and 2029. During this period, the market is also expected to show a growth of USD 2255.8 million. The South Korean LED lighting market is undergoing a digital transformation, marked by the adoption of advanced intelligent lighting systems and controls. These innovative solutions enable lighting products to adapt to evolving space requirements, particularly in commercial buildings. A single controller can manage multiple lights, offering functionalities such as dimming, timers, and color-changing capabilities. Smart LED bulbs elevate the room ambiance with their energy-efficient attributes and color-changing features. Controlled via a hub, these bulbs can be managed through mobile applications, necessitating an Internet connection. 

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Which Factors Are Causing a Surge in Market Growth?

The market is segmented based on

• Application
  • Residential
  • Commercial
  • Industrial
  • Outdoor
  • Others
• Product
  • LED lamps
  • LED luminaires
• Distribution Channel
  • Offline
  • Online
• Geography
  • South Korea

According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows: 

• Need for LED lighting in hazardous areas
• Growing demand from automotive sector
• Growing number of households and urbanization

However, the market also witnesses some limitations, which are as follows:

• High cost of implementing LEDs
• Limited thermal tolerance of LEDs
• Technical challenges of LED lighting

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Market Scope in LED Lighting Market in South Korea Research Report

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Research Analysis Overview

LED lighting in South Korea is driving growth due to its energy efficiency and environmental benefits. Indoor applications, including residential, commercial, office, retail, and healthcare sectors, are adopting LEDs for their energy-saving and mercury-free advantages. Outdoor applications, such as street and roadway lighting, also benefit from LED's long lifespan and smart lighting solutions using semiconductor devices, electric current, and AI algorithms. LEDs, as energy-efficient alternatives to incandescent and fluorescent lights, offer significant cost savings and improved light quality over their traditional counterparts.

Market Research Overview

The LED lighting market in South Korea is a significant segment of the larger global electrical components and equipment market. This market encompasses the manufacturing and sale of LED lighting solutions for various applications, including indoor uses such as residential, commercial, office, retail, healthcare, and outdoor applications like street lighting. The adoption of LED lighting is driven by its energy efficiency and environmental benefits. The global electrical components and equipment market size includes revenues from manufacturers of electrical components and equipment, including LED lighting, water heaters and accessories, motors, automation solutions, electrical distribution and protection equipment, and more. Additionally, the market includes revenues from renting and leasing electrical components and equipment to industrial, commercial, and residential end-users.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.

Technavio Research
Jesse Maida
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