South Korea Intelligent Street Lighting Market was valued at USD 0.8 Billion in 2022 and is projected to reach USD 2.0 Billion by 2030, growing at a CAGR of 12.5% from 2024 to 2030.
The South Korea Intelligent Power Devices Market is experiencing significant growth, driven by the increasing demand for advanced technologies across industries such as manufacturing, automotive, and energy. These intelligent power devices are designed to improve efficiency, reduce energy consumption, and enhance the overall performance of electrical systems. The market for these devices is evolving rapidly as industries seek smarter solutions to manage power consumption and ensure sustainability.
Intelligent power devices include components like power semiconductors, smart transformers, and power management ICs that play a crucial role in modernizing electrical infrastructure. In South Korea, the adoption of these devices is heavily influenced by the government's push towards green technologies, smart grids, and energy-efficient solutions. This push is not only benefiting energy producers but also improving the capabilities of manufacturers and industrial users who depend on reliable, high-performance power systems.
Industries in South Korea are increasingly relying on intelligent power devices to meet specific requirements. For instance, the automotive industry demands advanced power devices for electric vehicle (EV) applications, where energy efficiency and rapid charging capabilities are vital. Similarly, the renewable energy sector requires these devices for optimizing energy production and distribution, particularly in wind and solar energy systems. The smart grid market is another key driver, where these intelligent devices are essential for real-time data monitoring and efficient energy distribution.
Additionally, industries are focusing on reducing downtime and maintenance costs. Intelligent power devices offer predictive maintenance capabilities, allowing businesses to monitor performance and identify issues before they become critical, thus ensuring minimal disruption in operations. The industrial automation sector also benefits from these advancements, as automated systems powered by intelligent devices can increase production efficiency and safety while reducing human intervention.
The demand for these devices is further supported by the South Korean government's commitment to innovation and sustainability. Policies that promote clean energy solutions and the development of advanced power technologies are creating favorable conditions for the growth of the intelligent power devices market. With the rise of Industry 4.0 and smart manufacturing, the need for more efficient and intelligent power systems will only continue to grow.
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By the year 2030, the scale for growth in the market research industry is reported to be above 120 billion which further indicates its projected compound annual growth rate (CAGR), of more than 5.8% from 2023 to 2030. There have also been disruptions in the industry due to advancements in machine learning, artificial intelligence and data analytics There is predictive analysis and real time information about consumers which such technologies provide to the companies enabling them to make better and precise decisions. The Asia-Pacific region is expected to be a key driver of growth, accounting for more than 35% of total revenue growth. In addition, new innovative techniques such as mobile surveys, social listening, and online panels, which emphasize speed, precision, and customization, are also transforming this particular sector.
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Growing demand for below applications around the world has had a direct impact on the growth of the South Korea Intelligent Street Lighting Market
LED Street Lighting
HID Street Lighting
Solar Street Lighting
Smart Lighting Solutions
IoT-enabled LED Lighting
Wi-Fi
Bluetooth
Zigbee
LoraWAN
Highways
Roadways
Parks and Recreational Areas
Commercial Spaces
Residential Areas
Industrial Areas
Light Fixtures
Sensors
Control Systems
Municipal Corporations
Private Sector
Government Bodies
Transport Authorities
Facility Management Companies
Asia-Pacific (China, Japan, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam)
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1. Introduction of the South Korea Intelligent Street Lighting Market
Overview of the Market
Scope of Report
Assumptions
2. Executive Summary
3. Research Methodology of Verified Market Reports
Data Mining
Validation
Primary Interviews
List of Data Sources
4. South Korea Intelligent Street Lighting Market Outlook
Overview
Market Dynamics
Drivers
Restraints
Opportunities
Porters Five Force Model
Value Chain Analysis
5. South Korea Intelligent Street Lighting Market, By Type
6. South Korea Intelligent Street Lighting Market, By Application
7. South Korea Intelligent Street Lighting Market, By Geography
Asia-Pacific
China
Japan
Korea
India
Australia
Indonesia
Thailand
Philippines
Malaysia and Vietnam
8. South Korea Intelligent Street Lighting Market Competitive Landscape
Overview
Company Market Ranking
Key Development Strategies
9. Company Profiles
10. Appendix
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