The South Korea lighting control system market is likely to be driven by the increasing adoption across commercial, residential, and other indoor & outdoor applications. The National Lighting System (Louis), a project of the South Korean government, is a smart lighting system. This system has been created to guarantee public safety and upgrade the nation's lighting infrastructure. The market for lighting control systems in South Korea is expected to flourish because of these activities. Lighting control systems are a range of lighting software that regulate the levels, quality, and characteristics of light in a defined space. These devices aid in reducing electricity wastage while simultaneously encouraging energy efficiency. In addition, intelligent lighting control systems can be defined as a network-based lighting control solution that uses various components, such as occupancy sensors, transmitters & receivers, and microcontrollers for controlling lighting.
The South Korea lighting control system market is segmented based on components, technology, and application. As per components, the market is segmented into solutions and services. As per the technology, the market is divided into wired and wireless s. Based on application, it is divided into indoor and outdoor applications The market for lighting control systems in the Asia-Pacific region is anticipated to develop at a rapid rate in South Korea. The South Korea lighting control system market is expected to witness rapid growth on account of initiatives from the government to develop a smart lighting infrastructure.
Along with government measures, it is projected that growing consumer demand for better lighting options and the adoption of environmentally friendly technology would boost the market for lighting control systems in South Korea. For instance, the government has provided numerous tax credits and grants for businesses that install energy-efficient lighting systems. Additionally, improvements in lighting controls, such as the switch from analog to digital controls, are anticipated to open a lot of doors for industry expansion. On the other hand, the adoption of lighting control systems is comparatively slow due to significant installation costs incurred in commercial buildings commercial buildings. Moreover, a lack of awareness among users about the advantages of lighting systems is also restraining the growth of the market.
Future market trends suggest that low-cost smart lighting solutions, like wireless lighting management systems and LED lighting, will become more widely adopted. The expansion of the lighting control system market in South Korea is also anticipated to benefit greatly from the development of interconnected networks of smart lighting systems. Users will be able to control their lighting systems with a single device as these networks expand. Several South Korean businesses are concentrating on research and development operations to create cutting-edge lighting control systems.
For instance, Samsung Electronics has created a variety of affordable lighting control systems with several benefits, such as growing energy efficiency and cost savings. Moreover, the growing trend of digitalization in the commercial and residential sectors in South Korea is expected to create a conducive environment for the growth of the South Korea lighting control system market The South Korean government is significantly influencing the growth of the nation's lighting infrastructure by establishing a number of regulations. The Electrical Equipment Safety Act (Act No. 8367 of 2002) was passed to guarantee the safety of the country's electrical equipment. To promote the construction of energy-efficient lighting systems, the South Korean government has implemented several incentives. Additionally, it is projected that the advent of innovations like the Louis smart lighting system will support the growth of the South Korean market for lighting control systems.
The leading companies operating in the SKLCSM are LG Electronics, Samsung Electronics, Legrand, Schneider Electric, SIELCO, LS Industrial Systems, ETAP Lighting, iGuzzini, Nitor, and OSRAM. These players are focusing on launching new products and investing in research & development activities to increase their market share. For instance, in 2019, Legrand launched NEO Connect, a range of smart lighting control solutions for residential and commercial applications. In addition. in 2018, Schneider Electric launched Mylinc, a range of integrated lighting control solutions for energy-saving.
Furthermore, iGuzzini launched innovative luminaires for the indoor segment in 2018. Apart from these leading players, some of the emerging companies operating in the lighting control system in South Korea are Biolux, Lumess, Artica Digital, Hightech Lighting, and Tech Solutions. These companies are focusing on launching new products and expanding their reach in the country. For instance, Biolux launched a range of smart lighting systems in 2020, while Lumess launched a luminaire-as-a-service (LaaS) platform in 2019. In addition, Artica Digital introduced a range of wireless, integrated, and smart lighting control systems in 2019.
The outbreak of the COVID-19 pandemic has caused major impacts across South Korea, hindering economic and social development. The report, therefore, provides a micro and macroeconomic analysis of the market during the pandemic. Further, the report offers a qualitative analysis of the impact of COVID-19 on the SKLCSM. The report also highlights the market share and size based on COVID-19's overall influence on the South Korean lighting control system market in 2020 as well as the post-impact throughout subsequent years. Along with this, the report highlights the key strategies adopted by key players during the global health crisis. Moreover, it provides a detailed framework for the impact of COVID-19 on the supply chain, sales, and other major aspects of the market. Subsequently, the report also portrays the impact on the South Korea lighting control system market after the rollout of vaccination campaigns and other initiatives by health organizations and government bodies to curb COVID-19 infections.
Key Benefits For Stakeholders
- Enable informed decision-making process and offer market analysis based on current market situation and estimated future trends.
- Analyze the key strategies adopted by major market players in South Korea lighting control system market.
- Assess and rank the top factors that are expected to affect the growth of South Korea lighting control system market.
- Top Player positioning provides a clear understanding of the present position of market players.
- Detailed analysis of the South Korea lighting control system market segmentation assists to determine the prevailing market opportunities.
- Identify key investment pockets for various offerings in the market.
South Korea Lighting Control System Market Report Highlights
| Aspects | Details |
 Forecast period | 2022 - 2032 |
 Report Pages | 75 |
 By Component |
|
 By Technology |
|
 By Application |
|
 Key Market Players | LS Industrial Systems, LG Electronics, Schneider Electric, OSRAM, ETAP Lighting, SIELCO, Legrand, Nitor, Samsung Electronics, iGuzzini |
The South Korea Lighting Control System Market is projected to grow at a CAGR of 8% from 2022 to 2032
LG Electronics, Samsung Electronics, Legrand, Schneider Electric, SIELCO, LS Industrial Systems, ETAP Lighting, iGuzzini, Nitor, OSRAM are the leading players in South Korea Lighting Control System Market
1. Enable informed decision-making process and offer market analysis based on current market situation and estimated future trends.
2. Analyze the key strategies adopted by major market players in south korea lighting control system market.
3. Assess and rank the top factors that are expected to affect the growth of south korea lighting control system market.
4. Top Player positioning provides a clear understanding of the present position of market players.
5. Detailed analysis of the south korea lighting control system market segmentation assists to determine the prevailing market opportunities.
6. Identify key investment pockets for various offerings in the market.
South Korea Lighting Control System Market is classified as by component, by technology, by application
Loading Table Of Content...
Loading Research Methodology...
