South Korea Lighting Fixtures Market Overview, 2029

South Korea Lighting Fixtures Market Overview, 2029

During the previous couple of decades, the South Korean lighting industry has experienced enormous transformation that reflects both changes in consumer preferences and improvements in technology. The adoption of smart technology, urbanization, and energy efficiency regulations are some of the factors influencing the trajectory of this industry. The lighting fittings business in South Korea dates back to the country's fast industrialization in the middle of the 20th century. Initially, in response to expanding urban and industrial demands, the industry concentrated on providing basic lighting solutions. Advanced designs and materials were more common in the 1970s and 1980s as South Korea became a worldwide center of manufacturing. Environmental concerns and technology developments propelled the South Korean lighting fixtures market's progress in the 2nd half of the 20th century. The 1990s witnessed an increasing focus on sustainability and energy efficiency, which opened the way for the creation of light-emitting diodes and compact fluorescent lights. Using their knowledge of semiconductor technology, South Korean businesses had become major participants in the worldwide LED industry by the early 2000s. In South Korea, the use of smart lighting systems grew significantly in the 2010s. By integrating electronic controls with LEDs, lighting systems become more responsive and flexible, maximizing energy efficiency and improving user experience. The need for connected lighting fixtures increased as more people adopted smart homes, which became more prevalent with features like automation, remote control, and interaction with IoT (Internet of Things) platforms.

According to the research report ""South Korea Lighting Fixtures Market Overview, 2029,"" published by Bonafide Research, the South Korea Lighting Fixtures market is expected to reach a market size of more than USD 4 Billion by 2029. The nation's growing urbanisation and infrastructure development are major drivers of the lighting fittings industry in South Korea. Modern lighting solutions that are both energy-efficient and visually beautiful are in greater demand as South Korea's metropolitan areas continue to grow and its infrastructure is improved. Government programme and laws that support energy sustainability and efficiency, such mandatory energy consumption limits and incentives for LED lighting installations, are driving this need even more. These actions promote market innovation and development in addition to increasing the use of cutting-edge lighting solutions.

The market is confronted with numerous challenges that may impede its expansion. The high initial cost of new lighting technologies, such LED and smart lighting systems, is one of the main challenges. Some customers and organizations may find the upfront expenditure of these solutions to be exorbitant, despite the fact that they offer efficiency and long-term benefits. There are many local and foreign competitors fighting for market share in this fiercely competitive sector. Price wars and narrowed profit margins brought on by this fierce competition can make it difficult for businesses to remain in business and make investments in R&D.

The expanding use of smart lighting solutions and the increasing focus on human-centric lighting represent recent trends in the South Korean lighting fixtures industry. Smart lighting is becoming more and more common in both home and commercial settings because it uses IoT and AI technology to provide remote control, automation, and customization. The growing desire from consumers for convenience, energy efficiency, and improved user experiences is what's driving this trend. Human-centric lighting is also gaining popularity; it mimics natural light patterns and modifies lighting to assist circadian cycles in an effort to enhance health and well-being. These patterns demonstrate how the industry is moving towards greater complexity, practical, and health-conscious lighting options.

The market for lightning fixtures in South Korea is dominated by a few large corporations that have a big influence on technological breakthroughs and industry trends. Major businesses like LG Electronics, Samsung Electronics, and Hyundai Technology use their deep R&D resources to create innovative, energy-efficient, and intelligent lighting solutions. These businesses sell a variety of lighting goods, including as LEDs, smart bulbs, and industrial lighting solutions, and are well-established in international markets as along with serving the home market. Their ability to be at the top of the quickly changing lighting fixtures market in South Korea is because of their ongoing investments in modern technology and environmentally friendly business practices.

The lighting market in South Korea can be separated into a number of product categories, each of which serves a particular purpose and aesthetic taste. Since ceiling lighting spreads light equally, it is a popular option for both business and residential settings. High-end residences and posh businesses frequently use pendant lights and chandeliers, which lend an air of refinement and elegance. Wall-mounted lights are a common way to provide accent and practical lighting to corridors, living rooms, and commercial spaces while also enhancing the atmosphere. Users may relocate and modify lighting to suit their needs with the flexibility and simplicity of portable lighting, which includes table and floor lights. In order to meet the many needs of South Korean customers, extra lighting products include specialty options such as task-specific lighting, emergency light, and outdoor lighting.

Lighting technology has advanced significantly in South Korea, resulting in a variety of source types for the market. Because of its extended lifespan, energy economy, and environmental advantages, LED and OLED lights are widely used. Due in large part to government initiatives encouraging energy saving, these sources are extensively employed in both residential and commercial environments. Fluorescent lights continue to be used because of their reasonable initial cost and good performance, particularly within commercial and industrial environments. LEDs grow cheaper, their use is decreasing. Once the most popular type of lighting, incandescent is becoming less frequent due to its high energy consumption and short lifespan, as more efficient technologies take its place.

In South Korea, lighting applications are generally divided into two categories: residential and commercial. Offices, retail establishments, lodging facilities, and industrial settings are all included in the commercial sector. Here, lighting solutions prioritise cost- and energy-effectiveness while also improving customer satisfaction, safety, and productivity. Lighting in the residential sector is intended to produce cosy and welcoming interiors. South Korean homeowners place a high value on energy efficiency, smart home integration, and aesthetic appeal. As a result, there is a rising market for fashionable and multipurpose lighting solutions. Both physical and internet channels are used in South Korea to ease the distribution of lighting items. Traditional retail establishments, specialised lighting stores, and big home improvement centres are examples of offline channels where buyers may physically examine and compare items prior to making a purchase. The certainty and trust that face-to-face service offers are advantageous to these channels. But because internet shopping is more convenient, there is a greater assortment of products available, and prices are more competitive, the online channel is growing quickly. Online shopping is becoming a more and more popular option for South Korean consumers looking to purchase lighting items since it allows them to read product reviews, compare costs, and have things delivered straight to their homes.
Considered in this report
• Historic year: 2018
• Base year: 2023
• Estimated year: 2024
• Forecast year: 2029

Aspects covered in this report
• Lighting fixtures market Outlook with its value and forecast along with its segments
• Various drivers and challenges
• On-going trends and developments
• Top profiled companies
• Strategic recommendation

By Product
• Ceiling
• Pendant & Chandeliers
• Wall Mounted
• Portable
• Others

By Source
• LED & OLED
• Fluorescent
• Incandescent

By Application
• Commercial
• Residential

By Distribution Channel
• Offline
• Online

The approach of the report:
This report consists of a combined approach of primary and secondary research. Initially, secondary research was used to get an understanding of the market and list the companies that are present in it. The secondary research consists of third-party sources such as press releases, annual reports of companies, and government-generated reports and databases. After gathering the data from secondary sources, primary research was conducted by conducting telephone interviews with the leading players about how the market is functioning and then conducting trade calls with dealers and distributors of the market. Post this; we have started making primary calls to consumers by equally segmenting them in regional aspects, tier aspects, age group, and gender. Once we have primary data with us, we can start verifying the details obtained from secondary sources.

Intended audience
This report can be useful to industry consultants, manufacturers, suppliers, associations, and organizations related to the Lighting fixtures industry, government bodies, and other stakeholders to align their market-centric strategies. In addition to marketing and presentations, it will also increase competitive knowledge about the industry.