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The South Korea LED lighting market size is estimated to increase by USD 2.21 billion, CAGR of 8.09% between 2023 and 2028. The market is experiencing significant growth due to the rising need for energy-efficient lighting solutions and the increasing adoption of LED in various applications, including residential, and industrial and commercial LED lighting. One of the key trends driving market growth is the growing traction for intelligent lighting systems, which offer features such as motion sensors, occupancy sensors, and dimming capabilities. However, the high cost implementation costs associated with LED lighting systems, particularly in large-scale projects, remain a challenge for market growth. Another trend is the increasing demand for LED lighting in hazardous areas, where traditional lighting sources pose safety risks. Overall, the market is expected to continue its growth trajectory, driven by these trends and the ongoing shift towards energy-efficient and intelligent lighting solutions.
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Application
7 Market Segmentation by Product
8 Customer Landscape
9 Drivers, Challenges, and Opportunity/Restraints
10 Competitive Landscape
11 Competitive Analysis
12 Appendix
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