LED Lighting Market in South Korea 2023-2027

LED Lighting Market In South Korea 2023-2027

The LED lighting market in South Korea is forecasted to grow by USD 1,872.11 mn during 2022-2027, accelerating at a CAGR of 7.4% during the forecast period. The report on the led lighting market in South Korea provides a holistic analysis, market size and forecast, trends, growth drivers, and challenges, as well as vendor analysis covering around 25 vendors.

The report offers an up-to-date analysis regarding the current market scenario, the latest trends and drivers, and the overall market environment. The market is driven by need for LED lighting in hazardous areas, growing demand from automotive sector, and growing number of households and urbanization.

Technavio's LED lighting market in South Korea is segmented as below:

By Application

• Residential
• Commercial
• Industrial
• Outdoor
• Others

By Product

• LED lamps
• LED luminaires

This study identifies the growing traction for intelligent lighting systems as one of the prime reasons driving the LED lighting market in South Korea growth during the next few years. Also, increasing interest in CSP LED lighting for industrial applications and growing popularity of ambient lighting in automobiles will lead to sizable demand in the market.

The report on the LED lighting market in South Korea covers the following areas:

• LED lighting market in South Korea sizing
• LED lighting market in South Korea forecast
• LED lighting market in South Korea industry analysis

The robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading LED lighting market in South Korea vendors that include Acuity Brands Inc., ams OSRAM AG, ANYLUX Co. Ltd., Backsan LNT Co. Ltd., DSE CO. LTD., Eaton Corp. Plc, Everlight Electronics Co. Ltd., Hubbell Inc., HWASHIN KOREA CO. LTD., Koninklijke Philips N.V., KOREA LED AND EQUIPMENT Co., Ltd., LG Innotek Co. Ltd., Lumileds Holding BV, Nanoleaf Canada Ltd., Nichia Corp., Samsung Electronics Co. Ltd., Seoul Semiconductor Co. Ltd., SMART Global Holdings Inc., Zam Co. Ltd., and Zhejiang Future Lighting Co. Ltd.. Also, the led lighting market in South Korea analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage all forthcoming growth opportunities.

The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to an analysis of the key vendors.

The publisher presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources by an analysis of key parameters such as profit, pricing, competition, and promotions. It presents various market facets by identifying the key industry influencers. The data presented is comprehensive, reliable, and a result of extensive research - both primary and secondary. The market research reports provide a complete competitive landscape and an in-depth vendor selection methodology and analysis using qualitative and quantitative research to forecast the accurate market growth.