Market Forecast By Light Source (Fluorescent Lamps, Light Emitting Diodes, High Intensity Discharge Lamps), By Product Type (Luminaries Smart Bulbs, Fixtures, Lighting Controls Led Drivers & Ballasts, Sensors, Switches & Dimmers, Relay Units, Gateways), By Communication Technology (Wired, Wireless), By Applications (Residential, Commercial, Industrial, Others) and competitive landscape
Product Code: ETC003816 | Publication Date: Aug 2020 | Updated Date: Dec 2024 | Product Type: Report | |
Publisher: 6Wresearch | No. of Pages: 70 | No. of Figures: 35 | No. of Tables: 5 | |
Report Name | South Korea Smart Indoor Lighting Market |
Forecast period | 2025-2031 |
CAGR | 15% |
Growing Sector | Residential Sector |
South Korea Smart Indoor Lighting Market report thoroughly covers the market the By Light Source, By Product Type, and By Applications. The market report provides an unbiased and detailed analysis of the ongoing market trends, opportunities/high growth areas, and market drivers which would help the stakeholders to devise and align their market strategies according to the current and future market dynamics.
South Korea Smart Indoor Lighting Market has been thriving and is predicted to rise more at a significant growth rate during the forecast period. There are a number of factors contributing to the market growth such advancements in technology and rising demand for energy-efficient solutions.
According to 6Wresearch, South Korea Smart Indoor Lighting Market size is expected to grow at a significant CAGR of approximately 15% during 2025-2031. This significant growth can be due to factors like the increasing use of smart home technologies, as more customers seek to enhance their living atmosphere with innovative lighting solutions. Also, the integration of artificial intelligence and machine learning into lighting systems is anticipated to further enhance market size, providing users with personalized experiences and improved energy efficiency.
The market is also dealing with a number of challenges that are hampering its growth. One major challenge faced by the market is the high initial cost associated with smart lighting systems, which can make it difficult for users with limited budget for making the switch. Additionally, the need for technological compatibility and integration with existing home systems can create barriers for consumers unfamiliar with smart home technology.
Some significant companies that are operating in the market and continuously contributing toits success are Samsung Electronics, LG Electronics and Philips Hues. These market leaders are investing in Research and development programs in order to introduce technological innovation and growth.
Government regulation plays a vital role in shaping the smart indoor lighting market in South Korea. To guarantee consumer safety, environmental sustainability, and energy efficiency authorities have implemented various policies. The Ministry of Trade, Industry and Energy (MOTIE) supervises the compliance of smart lighting products with energy efficiency standards, these standards serve as a guide for producers as they build products that meet both legal and consumer needs.
Looking ahead, a number of trends and developments will likely impact how South Korea's smart indoor lighting market develops. First, it is expected that consumers are going to able to use solar or wind energy for lighting needs as a result of the integration of renewable energy sources with smart lighting systems. This contributes to improved energy efficiency and supports the worldwide shift to sustainability. Additionally, improved lighting experiences will be made possible by developments in sensor technology and the Internet of Things (IoT), which allow systems that can adapt to the habits and preferences of users.
According to Dhaval, Research Manager, 6Wresearch, Light Emitting Diodes are expected to rise in demand sue to their features like energy efficiency, longevity, and declining costs.
On the basis of Product Type, smart bulb category is expected to rise in demand, mart bulbs are anticipated to grow the most significantly, driven by consumer demand for customizable and energy-efficient lighting solutions.
In terms of Communication Technology, the market is categorised into Wired and Wireless. The category which will contribute significantly towards the market growth is wireless technologies. Wireless technologies typically offer easy installation, scalability, and the convenience of remote control.
On the basis of Product Applications, Residential sector is likely to witness the most significant growth driven by increasing consumer demand for smart home technologies and energy-efficient solutions.
The report offers a comprehensive study of the subsequent market segments:
Table of Contents |
1. Executive Summary |
2. Introduction |
2.1. Key Highlights of the Report |
2.2. Report Description |
2.3. Market Scope & Segmentation |
2.4. Research Methodology |
2.5. Assumptions |
3. South Korea Smart Indoor Lighting Market Overview |
3.1. South Korea Country Macro Economic Indicators |
3.2. South Korea Smart Indoor Lighting Market Revenues & Volume, 2021 & 2031F |
3.3. South Korea Smart Indoor Lighting Market - Industry Life Cycle |
3.4. South Korea Smart Indoor Lighting Market - Porter's Five Forces |
3.5. South Korea Smart Indoor Lighting Market Revenues & Volume Share, By Light Source, 2021 & 2031F |
3.6. South Korea Smart Indoor Lighting Market Revenues & Volume Share, By Product Type, 2021 & 2031F |
3.7. South Korea Smart Indoor Lighting Market Revenues & Volume Share, By Communication Technology, 2021 & 2031F |
3.8. South Korea Smart Indoor Lighting Market Revenues & Volume Share, By Applications, 2021 & 2031F |
4. South Korea Smart Indoor Lighting Market Dynamics |
4.1. Impact Analysis |
4.2. Market Drivers |
4.3. Market Restraints |
5. South Korea Smart Indoor Lighting Market Trends |
6. South Korea Smart Indoor Lighting Market, By Types |
6.1. South Korea Smart Indoor Lighting Market, By Light Source |
6.1.1 Overview and Analysis |
6.1.2. South Korea Smart Indoor Lighting Market Revenues & Volume, By Light Source, 2021 - 2031F |
6.1.3. South Korea Smart Indoor Lighting Market Revenues & Volume, By Fluorescent Lamps, 2021 - 2031F |
6.1.4. South Korea Smart Indoor Lighting Market Revenues & Volume, By Light Emitting Diodes, 2021 - 2031F |
6.1.5. South Korea Smart Indoor Lighting Market Revenues & Volume, By High Intensity Discharge Lamps, 2021 - 2031F |
6.2. South Korea Smart Indoor Lighting Market, By Product Type |
6.2.1. Overview and Analysis |
6.2.2. South Korea Smart Indoor Lighting Market Revenues & Volume, By Luminaries Smart Bulbs, 2021 - 2031F |
6.2.3. South Korea Smart Indoor Lighting Market Revenues & Volume, By Fixtures, 2021 - 2031F |
6.2.4. South Korea Smart Indoor Lighting Market Revenues & Volume, By Lighting Controls Led Drivers & Ballasts, 2021 - 2031F |
6.2.5. South Korea Smart Indoor Lighting Market Revenues & Volume, By Sensors, 2021 - 2031F |
6.2.6. South Korea Smart Indoor Lighting Market Revenues & Volume, By Switches & Dimmers, 2021 - 2031F |
6.2.7. South Korea Smart Indoor Lighting Market Revenues & Volume, By Relay Units, 2021 - 2031F |
6.3. South Korea Smart Indoor Lighting Market, By Communication Technology |
6.3.1. Overview and Analysis |
6.3.2. South Korea Smart Indoor Lighting Market Revenues & Volume, By Wired, 2021 - 2031F |
6.3.3 South Korea Smart Indoor Lighting Market Revenues & Volume, By Wireless, 2021 - 2031F |
6.4. South Korea Smart Indoor Lighting Market, By Applications |
6.4.1. Overview and Analysis |
6.4.2. South Korea Smart Indoor Lighting Market Revenues & Volume, By Residential, 2021 - 2031F |
6.4.3. South Korea Smart Indoor Lighting Market Revenues & Volume, By Commercial, 2021 - 2031F |
6.4.4. South Korea Smart Indoor Lighting Market Revenues & Volume, By Industrial, 2021 - 2031F |
6.4.5. South Korea Smart Indoor Lighting Market Revenues & Volume, By Others, 2021 - 2031F |
7. South Korea Smart Indoor Lighting Market Import-Export Trade Statistics |
7.1. South Korea Smart Indoor Lighting Market Export to Major Countries |
7.2. South Korea Smart Indoor Lighting Market Imports from Major Countries |
8. South Korea Smart Indoor Lighting Market Key Performance Indicators |
8.1. South Korea Residential Sector Outlook |
8.2. South Korea Commercial Sector Outlook |
8.3. South Korea Industrial Outlook |
8.4. South Korea Government Spending Outlook |
8.5. South Korea Transport & Infrastructure Outlook |
9. South Korea Smart Indoor Lighting Market - Opportunity Assessment |
9.1. South Korea Smart Indoor Lighting Market Opportunity Assessment, By Light Source, 2021 & 2031F |
9.2. South Korea Smart Indoor Lighting Market Opportunity Assessment, By Product Type, 2021 & 2031F |
9.3. South Korea Smart Indoor Lighting Market Opportunity Assessment, By Communication Technology, 2021 & 2031F |
9.4. South Korea Smart Indoor Lighting Market Opportunity Assessment, By Applications, 2021 & 2031F |
10. South Korea Smart Indoor Lighting Market - Competitive Landscape |
10.1. South Korea Smart Indoor Lighting Market Revenue Share, By Companies, 2024 |
10.2. South Korea Smart Indoor Lighting Market Competitive Benchmarking, By Operating and Technical Parameters |
11. Company Profiles |
12. Recommendations |
13. Disclaimer |