DUBLIN, Sept. 16, 2014 /PRNewswire/ -- Research and Markets has announced the addition of the "LED Market in South Korea 2014-2018" report to their offering.

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An LED is a semiconductor light source used for various applications such as general lighting, back lighting, and automotive lighting. LED lighting applications include residential, office, retail, hospitality, industrial, outdoor, architectural, and others. LEDs are gaining acceptance in these applications because of their greater efficiency and low cost. Also, LEDs are able to address some key issues that the world faces today such as the energy crisis, resource scarcity, climate change, safety in and attractiveness of cities, productivity in offices, and an enhanced sense of health and well-being, as lighting consumes approximately 20 percent of all electricity in the world. LED lighting can save on an average up to 40 percent of energy.

The analysts forecast the LED market in South Korea will grow at a CAGR of 21.53 percent over the period 2013-2018.

This report covers the present scenario and the growth prospects of the LED market in South Korea for the period 2014-2018.

The LED market in South Korea can be divided into three segments based on application:

• Automotive Lighting
• Backlighting
• General Lighting

The report, the LED Market in South Korea 2014-2018, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers South Korea; it also covers the LED market landscape and its growth prospects in the coming years. The report also includes a discussion of the key vendors operating in this market.

Fierce competition among major LED lightbulb suppliers in South Korea has resulted in a decline in the ASP of LED lightbulbs. The ASP of a 40 W LED lightbulb dropped to US$10 and a 60 W LED lightbulb fell to US$20 in 2012. Currently, many LED vendors in South Korea are actively participating in the price war and are offering 40 W and 60 W replacement LED lightbulbs at significantly lower prices. This has made LED lightbulbs affordable to consumers, resulting in their increased adoption.

According to the report, several factors drive the growth of the LED market in South Korea, a major one being the need for energy-efficient lighting solutions. Global warming and escalating energy costs have compelled both the government and consumers to reduce the consumption of energy and associated environmental impacts arising from carbon emissions in South Korea. Hence, the government, in an effort to conserve energy and reduce costs, is increasingly promoting the adoption of energy-efficient lighting products.

Further, the report states that one of the major challenges is the high installation cost of LEDs. The manufacturing process of LEDs incurs high upfront costs such as the installation of MOCVD equipment and the price of raw materials such as compound semiconductors and substrates.

The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors.

Key Topics Covered:

01. Executive Summary

02. List of Abbreviations

03. Scope of the Report

04. Market Research Methodology

05. Introduction

06. Market Landscape

07. Market Segmentation by Application

08. Regulations on Incandescent Lighting by Country

09. Buying Criteria

10. Market Growth Drivers

11. Drivers and their Impact

12. Market Challenges

13. Impact of Drivers and Challenges

14. Market Trends

15. Product Lifecycle

16. Vendor Landscape

17. Key Vendor Analysis

18. Market Summary

Companies Mentioned:

• Cree Inc.
• LG Innotek Co. Ltd.
• Nichia Corp.
• Osram Opto Semiconductors GmbH
• Philips LumiLeds Lighting Co. LLC
• Samsung LED Co. Ltd.
• Seoul Semiconductor Co. Ltd.
• Everlight Electronics Co. Ltd.
• GE Lighting LLC
• Lite-On Technology Corp.
• Toyoda Gosei Co. Ltd.
• Wooree E&L Co. Ltd.

For more information visit http://www.researchandmarkets.com/research/7mxbdh/led_market_in

Media Contact: Laura Wood, +353-1-481-1716, press@researchandmarkets.net

SOURCE Research and Markets