South Korea LED Lighting Market Overview, 2028

South Korea LED Lighting Market Overview, 2028

Actual Market Research 31-12-2022 63 Pages Figures : 6 Tables : 13 Region : Asia-Pacific Country : Korea South Category : Energy & Utility Lighting & Luminaires

Due to the rising demand for LED lighting throughout the country, the LED lighting market in South Korea has emerged as one of the segments of the lighting market that is expanding at the quickest rate. To offer customers energy-efficient, environmentally friendly, and cutting-edge LED lighting solutions, there have been constant innovations and technological advancements in the field. Companies are producing advanced LED lighting at reasonable prices as a result of rising public awareness of the use of LED as a lighting source, increasing government regulations, and initiatives to promote LED lighting products. According to the research report "South Korea Led Lighting Market Overview, 2028," published by Bonafide Research, the South Korean led light market is expected to add USD 2.52 Billion by 2028. The primary trend that is driving the growth of the LED lighting market in South Korea is the growing demand for intelligent lighting systems. The limited thermal tolerance of LEDs is the primary challenge that is impeding the growth of the LED lighting market in South Korea. There are different types of led tubes: led linear light, T8 led tubes, glass led tubes, microwave motion sensor led light, and T5 led tubes. There are several types of led high bay lights, including UFO-led high bay lights, LED GP high bay lights, and COB-led high bay lights. Led panel lights include: back-lit led panels, led recessed panels, ultra-slim led panels, and spring-mounted led panels. LED street lights include COB LED street lights, integrated solar LED battery lights, angel-adjusted solar LED battery lights, and cost-effective LED street lights. Both South Korea and Taiwan are known for being major areas of strength with exceptionally strong focuses in the IT and gadget businesses, the two of which are firmly connected with the LED lighting industry. With the 2012 ban on incandescent lamps and some incentive programs, both have favorable regulatory regimes. Samsung and LG, two of Korea's biggest companies, are competing globally in the lighting industry. Taiwanese Drove chip and bundle makers are moving downstream to sell lighting results directly and have previously taken actions to play in the worldwide Drove lighting market. With consecutive years of economic growth, a corresponding rise in living standards, and an increase in social awareness as a result of various government policies and initiatives, the LED lighting market in South Korea has grown at a tremendous rate over the past five years. The country's LED lighting market has made significant progress in recent years thanks to rising disposable incomes, increased activity from domestic and international businesses, and the rapid development of LED technology. The led light market is big in South Korea. There are many competitors in the LED market. LED lighting is also being used in Korean homes, offices, and businesses. As a result, competition for led lighting is fierce. So to compete with other nations, they have to adopt new technology and upgrade the existing LED lights. People are increasingly moving to smart homes and embracing LED lighting. Considered in this report • Geography: South Korea • Historic year: 2017 • Base year: 2022 • Estimated year: 2023 • Forecast year: 2028 Aspects covered in this report • South Korean LED Lighting market 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: • Lamps • Luminaries By Application: • Indoor • Outdoor By Sales Channel: • Retail/Wholesale • Direct Sale • E-commerce By Installation Type: • New • retrofit The approach of the report: This report consists of a combined approach of primary as well as secondary research. Initially, secondary research was used to get an understanding of the market and list out the companies that are present in the market. The secondary research consists of third-party sources such as press releases, and annual reports of companies, analyzing the government-generated reports and databases. After gathering the data from secondary sources primary research was conducted by making telephonic 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 doing primary calls to consumers by equally segmenting consumers into regional aspects, tier aspects, age groups, and gender. Once we have primary data with us we started verifying the details obtained from secondary sources. Intended audience This report can be useful to industry consultants, manufacturers, suppliers, associations & organizations related to the LED Lighting industry, government bodies, and other stakeholders to align their market-centric strategies. In addition to marketing & presentations, it will also increase competitive knowledge about the industry.

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