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LED Lighting Market in South Korea to Grow by USD 2.21 Billion from 2024-2028, as Demand for Hazardous Area Lighting Increases with AI Driving Market Transformation – Technavio

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NEW YORK, Nov. 11, 2024 /PRNewswire/ — Report with the AI impact on market trends – The led lighting market in south korea size is estimated to grow by USD 2.21 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of 8.09% during the forecast period. Rising need for led lighting in hazardous areas is driving market growth, with a trend towards growing traction for intelligent lighting systems. However, high cost implementation costs  poses a challenge.Key market players include Acuity Brands Inc., ams OSRAM AG, ANYLUX Co. Ltd., Backsan LNT Co. Ltd., DSE Co. Ltd., Eaton Corp plc, Everlight Electronics Co. Ltd., Hubbell Inc., Hwashin Korea Co. Ltd., Koninklijke Philips N.V., Korea LED and Equipment Co. Ltd., LG Innotek Co. Ltd., Lumileds Holding BV, Nanoleaf Canada Ltd., Nichia Corp., Samsung Electronics Co. Ltd., Seoul Semiconductor Co. Ltd., SMART Holdings Inc., Zam Co. Ltd., and Zhejiang Future Lighting Co. Ltd..

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Forecast period

2024-2028

Base Year

2023

Historic Data

2018 – 2022

Segment Covered

Application (Residential, Commercial, Industrial, Outdoor, and Others), Product (LED lamps and LED luminaires), and Geography (APAC)

Region Covered

South Korea

Key companies profiled

Acuity Brands Inc., ams OSRAM AG, ANYLUX Co. Ltd., Backsan LNT Co. Ltd., DSE Co. Ltd., Eaton Corp plc, Everlight Electronics Co. Ltd., Hubbell Inc., Hwashin Korea Co. Ltd., Koninklijke Philips N.V., Korea LED and Equipment Co. Ltd., LG Innotek Co. Ltd., Lumileds Holding BV, Nanoleaf Canada Ltd., Nichia Corp., Samsung Electronics Co. Ltd., Seoul Semiconductor Co. Ltd., SMART Global Holdings Inc., Zam Co. Ltd., and Zhejiang Future Lighting Co. Ltd.

Key Market Trends Fueling Growth

The South Korean LED lighting market is experiencing significant growth due to trends towards energy efficiency and environmental benefits. LEDs, which use semiconductor devices to emit light with electric current, have replaced traditional lighting methods like incandescent and fluorescent lights in various applications. LEDs offer longer lifespan, mercury-free production, and energy savings. Indoor applications include residential, commercial, office, retail, healthcare, and architectural lighting. Outdoor applications include street, roadway, parking lot, landscape, and sports lighting. Energy-efficient solutions are also popular in the horticulture sector for growing plants. Custom light recipes, smart city initiatives, and smart lighting systems are driving innovation. LEDs are used in illumination applications, display & signage, consumer electronics, automotive lighting, backlighting, VR headsets, and more. Energy consumption is minimized through smart sensors, AI algorithms, and LightGPM technology. LEDs offer design possibilities with color options, mood adjustments, and energy conservation. High-efficiency luminaires are used for general illumination, and fixtures and bulbs come in various types like SMD LEDs and OLEDs. Installation retrofit is common for high-efficiency lighting solutions. Energy savings continue to be a key selling point, with LED lighting becoming increasingly cost-effective. 

The South Korean lighting market is experiencing a digital transformation with the integration of intelligent LED lighting systems and controls. These advanced lighting solutions can adapt to varying space requirements, particularly in office buildings. A single controller manages multiple lights, providing features such as dimming, timers, and color-changing capabilities. Smart LED bulbs enhance the room’s atmosphere with energy efficiency and color-changing attributes. Users control these bulbs via a hub, which connects to the internet and can be managed through mobile applications. 

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Market Challenges

The South Korean LED lighting market is experiencing significant growth due to the increasing demand for energy-efficient and environmentally friendly lighting solutions. LEDs, which use semiconductor devices to emit light with electric current, have replaced traditional lighting options like incandescent and fluorescent lights in various applications. Indoor applications such as residential, commercial, office, retail, healthcare, and architectural lighting have embraced LEDs for their energy savings and mercury-free benefits. Outdoor applications including street, roadway, parking lot, landscape, and sports lighting have also made the switch due to their long lifespan and smart lighting solutions. LEDs offer custom light recipes, smart city initiatives, and energy-efficient solutions for the horticulture sector. Smart lighting systems with AI algorithms, energy sensors, and LightGPM technology enable mood adjustments and energy conservation. LEDs are used in illumination applications, display & signage, consumer electronics, automotive lighting, backlighting, VR headsets, and more. The market faces challenges in terms of energy consumption, installation retrofit, and high-efficiency luminaires. However, the market is responding with high-intensity discharge (HID) and LED lighting alternatives, SMD LEDs, OLEDs, and urban area lighting solutions. The market offers various design possibilities, colour options, and white light solutions for general illumination, fixtures, bulbs, and decorative lighting.The integration of LED lighting into South Korean manufacturing plants and production facilities comes with a significant upfront cost, making it less favorable for end-users compared to traditional lighting sources like CFLs, LFLs, and HID lamps. This high initial investment is primarily due to the intricate manual assembly process for LEDs and the lack of standardized manufacturing procedures on machines. Consequently, end-users continue to opt for more affordable lighting alternatives.

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Segment Overview 

This led lighting market in South Korea report extensively covers market segmentation by

Application 1.1 Residential1.2 Commercial1.3 Industrial1.4 Outdoor1.5 OthersProduct 2.1 LED lamps2.2 LED luminairesGeography 3.1 APAC

1.1 Residential-  The residential segment of the LED lighting market in South Korea is projected to experience significant growth in terms of market revenue compared to commercial, industrial, outdoor, and other segments. This trend is attributed to the increasing urban population, consumer preference for trendy and personalized home decoration, and government subsidies for energy-efficient lighting. In major South Korean cities like Busan and Seoul, the adoption of LED lighting systems is on the rise due to the development of smart cities and the increasing penetration of smart homes. Daegu, Daejeon, Bucheon, Seoul, Busan, and Anyang are some of the prime smart cities in South Korea. By replacing traditional bulbs with LED lights, households can save approximately USD6,000 and reduce CO2 emissions. Additionally, LED lighting vendors are focusing on delivering health benefits, such as reducing stress, anxiety, and headaches, to drive market growth. These factors are expected to fuel the residential segment of the LED lighting market in South Korea during the forecast period.

Download complimentary Sample Report to gain insights into AI’s impact on market dynamics, emerging trends, and future opportunities- including forecast (2024-2028) and historic data (2018 – 2022) 

Research Analysis

The Led Lighting Market in South Korea is witnessing significant growth due to the increasing emphasis on energy efficiency and environmental benefits. LED lights, as semiconductor devices that emit light through the use of electric current, have become a preferred choice over traditional incandescent and fluorescent lights. With a longer lifespan, mercury-free composition, and energy-efficient properties, LEDs are ideal for various applications, including residential, commercial, office, retail, healthcare, indoor, and outdoor. LED lighting solutions are being adopted for street and roadway lighting, offering cost savings and reduced carbon emissions. Smart lighting solutions, incorporating AI algorithms, are also gaining popularity for their ability to optimize energy usage and enhance user experience.

Market Research Overview

The Led Lighting Market in South Korea is witnessing significant growth due to the increasing focus on energy efficiency and environmental benefits. LED lighting is gaining popularity in various applications such as indoor residential and commercial spaces, office buildings, retail stores, healthcare facilities, outdoor street and roadway lighting, parking lots, landscape design, architectural projects, sports facilities, and horticulture. LEDs, which are semiconductor devices that emit light when electric current passes through them, offer energy savings of up to 80% compared to traditional incandescent and fluorescent lights. They are mercury-free, have a longer lifespan, and come in custom light recipes and smart lighting solutions with AI algorithms and energy-efficient sensors. The market includes various luminaire products, from general illumination fixtures and bulbs to decorative, directional, and downlighting options. Smart city initiatives are also driving demand for energy-efficient, energy-saving LED lighting systems in urban areas, including street lights, OLEDs, and high-intensity discharge (HID) replacements. LED lighting is also used in various industries, such as display & signage applications, consumer electronics, automotive lighting, backlighting, and virtual reality headsets. With the increasing focus on energy conservation and the development of new technologies, the market for LED lighting in South Korea is expected to continue growing.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

ApplicationResidentialCommercialIndustrialOutdoorOthersProductLED LampsLED LuminairesGeographyAPAC

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

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SOURCE Technavio

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Loomis Interim Report January – September 2026

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Record high revenue and operating margin (EBITA)

STOCKHOLM, Oct. 30, 2026 /PRNewswire/ —

President and CEO Aritz Larrea comments:
“We delivered a strong third quarter, with record-high revenue, operating income (EBITA) and operating margin (EBITA %). The consistent execution of our strategic priorities continues to drive growth and profitability across the business. Both segment USA and segment Europe and Latin America contributed to the performance, supported by strong demand for secure logistics and the management of high-value assets, as well as cash-handling automation solutions. Revenue exceeded SEK 8 billion, with currency-adjusted growth of 6.6 percent, while our EBITA margin increased by nearly two percentage points year–over–year to 15.1 percent.

We are well positioned to continue to invest in long-term growth opportunities, pursue value-creating acquisitions, and deliver attractive shareholder returns.”

Quarter 3, July – September 2026

Revenue for the quarter was SEK 8,161 million (7,644). The currency-adjusted growth was 6.6 percent (7.1), of which organic growth was 5.8 percent (3.9) and acquisitions contributed 0.8 percent (3.2). Including the exchange rate effect, the total growth was 6.8 percent (0.3).Operating income (EBITA) 1) for the quarter was SEK 1,229 million (1,006) and the operating margin (EBITA) increased to 15.1 percent (13.2).Operating income (EBIT) before items affecting comparability for the quarter was SEK 1,177 million (961) and operating margin (EBIT) before items affecting comparability was 14.4 percent (12.6).Items affecting comparability during the quarter totaled SEK –24 million (–23), related to restructuring in the Europe and Latin America segment.Income before taxes for the quarter was SEK 986 million (789) and net income for the period was SEK 690 million (528).Basic earnings per share for the quarter were SEK 10.31 (7.80) and diluted earnings per share were SEK 10.26 (7.77).Cash flow from operating activities 2) was SEK 732 million (978) in the quarter. Cash flow from operating activities for the rolling twelve months was 84 percent (95) of operating income (EBITA).Net debt in relation to EBITDA was 1.52 times (1.65) in the quarter.Loomis expanded its presence in Latin America through the acquisitions of Transportadora del Interior in Argentina in July and Hermes Transportes Blindados in Peru in October.

1) Earnings Before Interest, Taxes, Amortization of acquisition-related intangible fixed assets, Acquisition-related costs and revenue and items affecting comparability.

2) Cash flow from operating activities is exclusive of impact from IFRS 16.

Report presentation today at 10.00 a.m. (CET)

The report will be presented in a webcast conference today at 10.00 am (CET) by President and CEO Aritz Larrea and CFO Tobias Hägglöv.

To follow the webcast, please follow this link.

The presentation materials and a recorded version of the conference will be available on https://www.loomis.com/en/investors/reports-and-presentations/ following the presentation.

For more information, please contact:

Jenny Boström  
Head of Sustainability and IR
ir@loomis.com
+46 79 006 45 92

Fredrik Hammarbäck
Media and External Communications Manager
media@loomis.com
+46 76 311 56 29

This information was brought to you by Cision http://news.cision.com

https://news.cision.com/loomis-ab/r/loomis-interim-report-january—september-2026,c4417527

The following files are available for download:

https://mb.cision.com/Main/51/4417527/4346980.pdf

Loomis Interim Report January – September 2026

https://mb.cision.com/Public/51/4417527/99a0bf796ea81c6c.pdf

Loomis Interim Report January – September 2026 – press release

 

View original content:https://www.prnewswire.com/news-releases/loomis-interim-report-january–september-2026-302924677.html

SOURCE Loomis AB

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BC Tech Announces 2026 Technology Impact Awards Winners, Celebrating the Companies and Leaders Driving BC’s Tech Economy

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VANCOUVER, BC, Oct. 30, 2026 /CNW/ — BC Tech is proud to announce the winners of the 2026 Technology Impact Awards (TIAs), celebrating the outstanding companies and individuals who have made a significant impact on the BC tech industry.

The sold-out Annual TIAs gala brought together over 800 founders, executives, investors and ecosystem partners at Parq Vancouver. The event honoured 11 award winners and welcomed two new Innovators Hall of Fame inductees.

“Technology is a major driver of British Columbia’s economy, supporting 271,000 jobs and contributing $30.7 billion to provincial GDP,” said Jill Tipping, CEO and President of BC Tech. “Tonight’s winners and finalists showcase the strength of our sector, from startups just starting out to globally competitive anchor companies, and across areas where B.C. has real strengths, from AI to HealthTech. At a time when growing our economy has never mattered more, their success matters to all of BC.”

A highlight of the evening was the presentation of the Gamechanger – AI Award, recognizing BC companies leading the way in developing and deploying artificial intelligence. Presented by KPMG, the award recognized Variational AI for the company’s innovation and leadership in AI.

“AI is reshaping the global economy and BC has a tremendous opportunity to be at the forefront,” said Walter Pela, BC Regional Managing Partner and National AI Market Development Leader for KPMG in Canada. “The companies recognized through the TIAs this year are turning that opportunity into real impact, showing how BC innovation can drive productivity and help businesses compete globally.”

The highly anticipated Gamechanger – Deal of the Year Award, was presented by Vancity, honoured four finalists representing nearly $1 billion in investment – a powerful signal that B.C. companies and technologies are attracting global attention, serious capital and competing on the world stage. Kardium was announced as the award winner for their milestone $340 Million CAD financing deal.

“At Vancity, we know that backing bold ideas can create opportunity well beyond the deal itself,” said Wellington Hollbrook, CEO of Vancity “We are proud to celebrate the dealmakers, innovators and entrepreneurs behind some of B.C.’s most exciting growth stories and the ambitious companies they are helping to grow.”

The evening also welcomed Darren Entwistle, President and CEO of TELUS, and Joy Johnson, President and Vice-Chancellor of Simon Fraser University, into the BC Innovators Hall of Fame, recognizing their leadership and lasting contributions to British Columbia’s technology and innovation ecosystem.

The 2026 TIAs sponsors include Amazon, Aspect Biosystems, Bennett Jones, BFL, Blakes, Business in Vancouver, CIBC, Clarity, Clio, EDC, Electronic Arts, Fasken, Google, Hub International, Innovate BC, KPMG, Launchpad, Low Tide Properties, McCarthy Tétrault, MDA Space, National Bank of Canada, Osler, PBC Solutions, Pender Ventures, PwC, SAP, TELUS, Uber, Vancity and WELL Health.

2026 TIAs Winners and Hall of Fame Inductees

Innovators Hall of Fame | Presented by PwC

Darren Entwistle, President and CEO, TELUSJoy Johnson, President and Vice-Chancellor, Simon Fraser University

Gamechanger – AI | Presented by KPMG

Winner: Variational AIFinalists: Clarius, INETCO, SimplyAsk, Unblocked

Gamechanger – HealthTech | Presented by Aspect Biosystems

Winner: IKOMED TechnologiesFinalists: Jane, mlHealth360, PBC Solutions, SimuHealth

Gamechanger – Industry Innovation | Presented by Innovate BC

Winner: Ideon TechnologiesFinalists: Freightera, PressReader, Quandri

Gamechanger – Climate Leadership | Presented by MDA Space

Winner: CO280Finalists: BCAA, Miraterra, Veritree

Gamechanger – Company Culture | Presented by SAP

Winner: Charitable ImpactFinalists: Freightera, Global Relay, Clarity

Company of the Year – Startup | Presented by Electronic Arts

Winner: Lite-1 BioFinalists: Tersa Critical Minerals, Viridis

Company of the Year – Growth | Presented by Osler

Winner: SenseNetFinalists: Industrio, Kobalt.io, Variational AI, Workforce Wellness

Company of the Year – Scale | Presented by Clio

Winner: Novarc TechnologiesFinalists: Minga, Traction Complete, VRIFY

Company of the Year – Ambition | Presented by Bennett Jones

Winner: PhotonicFinalists: Corinex, KITS Eyecare, MyFO

Company of the Year – Anchor | Presented by Blakes

Winner: WELLSTAR TechnologiesFinalists: Absolute Security, Delta-Q Technologies

Gamechanger – Deal of the Year | Presented by Vancity

Winner: KardiumFinalists: pH7, Photonic, WELL Health

About BC Tech

BC Tech is the largest member-led technology non-profit in British Columbia, and we’re dedicated to turning startups and scaleups into the anchor companies of tomorrow. Our work supports members to grow and diversify their talent pool, acquire new customers, access capital and accelerate their scaleup journey. Technology is a key industry for BC’s future and builds resiliency in every industry. Today, every company is a tech company. 

To learn more visit wearebctech.com.

SOURCE BC Tech Association

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MediaGo Secures Double Wins at Les Cas d’OR 2026, Driving Real Business Growth with Deep-Funnel Optimization

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SAN FRANCISCO, Oct. 30, 2026 /PRNewswire/ — MediaGo, the leading global intelligent advertising platform, has won two prestigious honors at the French digital marketing awards Les Cas d’OR, including the Native Acquisition Strategy Award (Stratégie Acquisition native) and the highly coveted De Vinci Executive Education’s MBA MDIA Special Prize (Prix Spécial MBA MDIA). Achieved in collaboration with France’s leading lead generation agency hipto, this dual recognition underscores MediaGo’s technical strength and its ability to transform native acquisition into a highly effective sales engine.

As a highly authoritative award in the French digital marketing industry, Les Cas d’OR focuses on technological innovation, business growth, and real commercial value. The Native Acquisition Strategy Award was evaluated by a highly professional panel of industry leaders, including top executives from major insurance companies, leading automakers, and premier 4A advertising agencies. Furthermore, the “MBA MDIA Special Prize,” judged by a parallel jury of industry experts and digital marketing master’s students, recognized the joint case for its solid operational logic and its ability to combine platform mechanics with high-quality signals to drive real commercial change and conversions.

As advertisers increasingly rely on native advertising for growth, they still face common challenges: overcoming cold-start hurdles, ensuring creative compliance, and bridging the gap between upper-funnel lead volume and backend business outcomes. To address these pain points, MediaGo has developed a comprehensive, deep-learning-powered product matrix to maximize campaign performance and drive sustainable growth for global advertisers. This includes advanced capabilities like AD Learning, which transfers historical intelligence across campaigns to shorten the cold start, and Approval Copilot, an AI-powered creative assistant that provides real-time monitoring for smooth, fully compliant ad delivery.

Building on SmartBid 3.0—its core intelligent bidding product, MediaGo introduced SmartBid LoopMax this year, a deep-learning powered solution focused on deep-conversion optimization. By combining upper-funnel and deep-funnel conversion signals, LoopMax helps advertisers look beyond lead volume and optimize toward higher-value conversions that better reflect real business outcomes.

“We are thrilled to work alongside hipto to be recognized once again by Les Cas d’OR,” said Leo Ye, Head of Partnerships at MediaGo. “In today’s market, chasing upper-funnel lead volume is no longer enough. Our focus is to continuously advance our deep learning technology to help advertisers maximize ROI, bridging the lead quality gap to provide solutions that truly drive deep conversions and sustainable business growth.”

MediaGo will continue to advance its deep learning-driven advertising technology, evolving its solutions in step with advertisers’ needs to drive scalable, sustainable, and meaningful business outcomes.

About MediaGo

MediaGo is an intelligent advertising platform. Based on deep learning algorithms, MediaGo empowers businesses of all scales, creating tangible value for companies. With 12 operational centers worldwide, MediaGo has successfully provided localized and comprehensive business growth services to over 10,000 partners.

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