South Korea – LED Lighting Market size to increase by USD 1.87 billion during 2022-2027 | Interior lighting known as ambient lighting enhances the cabin’s aesthetics is the market trend – Technavio

32 0
It is expected that the South Korean LED Lighting Market will grow by USD 1 billion during the forecast period.The market is expected to reach 87 billion by 2021, growing at a CAGR of 7 percent.During the forecast period, the market is expected to grow by 4%. Ambient lighting is a type of interior lighting that enhances the aesthetic appeal of a cabin. Ambient lighting, which was originally introduced to luxury vehicles, has now been expanded to mid-size and entry-level vehicles as well. The ambient lighting is comprised of a variety of components, which include light pipes, light rings, LED pin spotlights, diffuser lenses, and other components that are integrated into various parts of the interior of the vehicle.. As a result of their small size and energy efficiency, LEDs are becoming increasingly popular for ambient lighting in cabins. They are commonly found in cup holders, door panels, and map pockets.. It is becoming more and more popular to install colored low-intensity overhead lighting, especially for illuminating the gear stick of the vehicle. A detailed analysis of the market size and growth is presented in the report, along with accurate predictions on the growth of the market. You can request a free sample report by clicking here
 You can request a free sample report by clicking here
Key highlights of the South Korean LED Lighting Market for 2023 - 2027:
Key Highlights of the LED Lighting Market in South Korea between 2023 and 2027:
LED Lighting Market in South Korea from 2023 to 2027: Market Dynamics:
The driver
Among the primary drivers of the expansion of the LED lighting market in South Korea is the increasing demand from the automotive sector, which is a factor that propels the growth of the market. In addition to the rising production of automobiles, technological advancements are contributing to this growth. As a result of their energy efficiency, lightweight nature, and space-saving characteristics, LED lighting is gaining traction in the South Korean automotive industry, gradually replacing halogen lamps.
Identifying the challenges
In addition to covering the current trends and challenges in the market, the report also provides information on upcoming trends and opportunities.
LED Lighting Market in South Korea for the period 2023 - 2027: Key Segments:
In order to segment the market, there are two categories: Application (Residential, Commercial, Industrial, Outdoor, and Others) and Product (LED lamps and LED luminaires).
As a result of the forecast, the residential segment is expected to experience substantial growth over the next few years. Having said that, it should be noted that it outpaces other sectors such as commercial, industrial, outdoor, and others in terms of growth within the South Korean LED market as a whole. An important factor contributing to this growth is the increase in urban population, as well as the increased adoption of LED lighting as a result of that. As a result, the consumer interest in fashionable and customized lighting for home decor has also contributed to the positive trajectory of this segment in recent years
As a result, the consumer interest in fashionable and customized lighting for home decor has also contributed to the positive trajectory of this segment in recent years
Request a Free Sample Report to get a better understanding of how the segments contribute to the market
Reports related to the following:
There is an expected growth in the LED lighting market in North America during the forecast period of 2021 to 2026 of USD 5.81 billion, with a compound annual growth rate (CAGR) of 9.1%.
LED (light emitting diode) Lighting Market in Brazil: The LED (light emitting diode) lighting market in Brazil is expected to grow at a CAGR of 11.64 % between 2022 and 2027, and the market size is expected to grow by USD 1,651.14 million from the current level.
Table of Contents:
A brief overview of Technavio's services
Technology research and advisory company Technavio is one of the most reputable companies in the world. Through their research and analysis, they provide actionable insights and help businesses identify market opportunities and develop effective strategies to optimize their market positions by providing actionable insights into emerging market trends.
Technavio is an independent research firm with over 500 specialized analysts. Its report library consists of over 17,000 reports spanning 800 technologies, spanning across 50 countries, and is still growing.. Among their clientele is a diverse group of enterprises of all sizes, including a number of Fortune 500 companies as well. As a result of this growing client base, Technavio is trusted to provide comprehensive coverage, extensive research, and actionable market insights to these companies in order to identify opportunities in existing and potential markets, as well as assess their competitive positions in changing market conditions.
As a result of this growing client base, Technavio is trusted to provide comprehensive coverage, extensive research, and actionable market insights to these companies in order to identify opportunities in existing and potential markets, as well as assess their competitive positions in changing market conditions.
Getting in touch
Research Associate at Technavio Research. Jesse MaidaMedia & Marketing Executive at Technavio Research. US: +1 844 364 1100, UK: +44 203 893 3200. Email: [email protected]Website: www.technavio.com/.
Technavio is the source of this information
It is estimated that the pates market is expected to grow by USD 97.83 million from 2023 to 2028, according to Technavio. Additionally, the growth momentum of the market...
This report presents a market analysis of the surface mount technology (SMT) equipment market by end-user (telecommunications, consumer electronics, aerospace and defense, automotive, and other end-users).
Receive PRN's top stories and curated news delivered to your inbox every week when you sign up!

Source prnewswire

No Comments

Leave a Comment

Your email address will not be published. Required fields are marked *