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
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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.
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