LED Lighting Market in South Korea to Grow by USD 2.21 Billion from 2024-2028

The led lighting market in south korea size is estimated to grow by USD 2.21 billion from 2024-2028, according to Technavio.

The market is estimated to grow at a CAGR of 8.09% during the forecast period. Rising need for led lighting in hazardous areas is driving market growth, with a trend towards growing traction for intelligent lighting systems.

The South Korean LED lighting market is experiencing significant growth due to trends towards energy efficiency and environmental benefits. LEDs, which use semiconductor devices to emit light with electric current, have replaced traditional lighting methods like incandescent and fluorescent lights in various applications. LEDs offer longer lifespan, mercury-free production, and energy savings. Indoor applications include residential, commercial, office, retail, healthcare, and architectural lighting. Outdoor applications include street, roadway, parking lot, landscape, and sports lighting. Energy-efficient solutions are also popular in the horticulture sector for growing plants. Custom light recipes, smart city initiatives, and smart lighting systems are driving innovation. LEDs are used in illumination applications, display & signage, consumer electronics, automotive lighting, backlighting, VR headsets, and more. Energy consumption is minimized through smart sensors, AI algorithms, and LightGPM technology. LEDs offer design possibilities with color options, mood adjustments, and energy conservation. High-efficiency luminaires are used for general illumination, and fixtures and bulbs come in various types like SMD LEDs and OLEDs. Installation retrofit is common for high-efficiency lighting solutions. Energy savings continue to be a key selling point, with LED lighting becoming increasingly cost-effective.

The South Korean lighting market is experiencing a digital transformation with the integration of intelligent LED lighting systems and controls. These advanced lighting solutions can adapt to varying space requirements, particularly in office buildings. A single controller manages multiple lights, providing features such as dimming, timers, and color-changing capabilities. Smart LED bulbs enhance the room's atmosphere with energy efficiency and color-changing attributes. Users control these bulbs via a hub, which connects to the internet and can be managed through mobile applications.