South Korea LED Lighting Market will Grow at a CAGR of 23.4 % Over the Period 2014-2018

Published: Thu 23 Apr 2015
A blog entry by Ankur Gupta

Contributed by:

Ankur Gupta
Sales and Marketing Head
Ken Research Pvt. Ltd.

Ankur Gupta's Blog

South Korea LED Lighting Market Outlook to 2018 - Backlighting Units to Drive LED Growth” presents a comprehensive analysis of the industry covering aspects including LED lighting market size by revenue and market segmentation by types of applications, end users, market structure and distribution channels. The report also entails a detailed description on the recent trends and developments in the market and competitive scenario of major players in the industry along with providing future projections and outlook for South Korea LED lighting market. 
The LED lighting market in South Korea has emerged as one of the fastest growing sectors of the lighting market in South Korea due to its increasing demand in the country. The market has registered a remarkable CAGR of 68.3% during 2008-2013 by rising from USD ~ million in 2008 to USD ~ million in 2013. There have been constant innovations and technological advancements in the field of LED lighting technology in order to provide the customers energy saving, environment friendly and advanced LED lighting solutions. The increasing awareness among people about the use of LED as a source of lighting, increasing government regulations and initiatives to promote LED lighting products has led companies to produce advanced LED lighting produced at affordable prices.
Backlighting unit for LCD TVs and monitors commanded the largest share of ~% share of the total LED lighting sales in the country in 2013, followed by general lighting which recorded a revenue of USD ~ million in 2013. Sales of LED lighting products by end users was led by commercial and industrial sector contributing ~% of the total revenue from the LED lighting market in the country. There has been a growing demand for consumer portable LED lighting products segment which witnessed a tremendous growth rate of 95.7% during 2008 to 2013.
Organized sector accounted for the highest share of ~% of the total sales of LED lighting market in South Korea in 2013, followed by the unorganized sector which accounted for ~% of the LED lighting products sales in the country during the year. Samsung Electronics, LG Innotek, Seoul Semiconductors, Philips, CREE Inc. and others including OSRAM, Nichia are some of the major players in the South Korea packaged LED market. 
The future of the South Korea LED Lighting market is expected to be favorable on account of rapidly growing social awareness regarding use of LED lighting products, government initiatives and policies to promote use of LED technology, rising disposable income which will contribute to the demand for LED lighting solutions in the near term. The market is projected to reach USD ~ million by 2018 growing at a CAGR of 23.4 % over the period 2013-2018.
Key Topics Covered in the report:
  • Market Size of South Korea LED Lighting Market by Value, 2008-2013
  • Value Chain of South Korea LED Lighting Market
  • Market Segmentation of South Korea LED Lighting Market (by Applications, End Users, Market Structure and Distribution Channels), 2008-2018
  • Trends and Developments in South Korea LED Lighting Market
  • Company Profiles of Major Players in South Korea LED Lighting Market
  • Future Outlook and Projections in South Korea LED Lighting Market, 2014-2018.