Neon lights were named after neon, an odorless and colorless noble gas that is uncommon in the earth's atmosphere. Traditional neon lights contain tiny quantities of neon gas and provide a reddish-orange glow; however, as previously stated, additional chemicals and gases are used to generate other colors. These lights are common in advertising, home décor, event decorations, and other activities. These are also used for children, such as shoes, playroom décor, and others.
The neon lighting market is segmented by type and application. By type, the market is sub-segmented into hydrogen (red), helium (yellow), carbon dioxide (white), mercury (blue), and others. Based on application, the market is sub-segmented into commercial, traffic, construction, indoor and outdoor decoration, stage settings, and others.
Market Trends and Demand
According to OMR Research, the global neon lighting market is projected to grow at a CAGR of 11.0% during the forecast period (2023-2029). The factors behind this growth include-
Innovation in Products
Neon lighting innovations are expected to drive market demand. Companies are launching neon lights with millions of color options, fold features, and smart device connectors, which offer ease of use and convenience to the user. For instance, in March 2022, Govee, a global pioneer in RGBIC technology, announced the launch of the Govee RGBIC Neon Rope Light 3 m (9.8 ft), with other sizes (2 m and 5 m). Users can shape the lights to make a one-of-a-kind design with 16 million color options. There is a music mode on these LED neon lights. Users can select from 11 reactive music styles that move and groove with the music.
Growing Social Media Creators
Social media has increased the demand for neon lighting as influencers or content creators prefer to create their content in neon lights. According to Yellowpop, a neon sign brand, the company has grown 400% since its initial launch in 2018. The TikTok boom was fairly attributed to the growth. Similarly, many Instagram and YouTube Shorts creators also use neon lights.
Growing Entertainment and Food Businesses
Since neon lights are being used in advertising, sign boards, logos, and other things, the growth of end-users such as restaurants, cafes, gaming zones, dance clubs, and others will positively affect the market.
LED Neon Lights
Neon lights are comprised of glass tubes filled with neon gas and twisted into the desired shapes. Modern neon lights, on the other hand, have replaced neon gas with LED lights. For instance, Neon Direct offers high-quality LED neon lights that may last up to 100,000 hours, even if left on 24 hours a day. However, since it needs electricity, it is advised to turn the LED neon lights off.
Recent Developments
The key companies in the global neon lighting market include LED Neon Flex, Nova Flex LED, Solid Apollo LED, SGi Lighting, Elemental LED, Lightstec, Elstar LED, INCISEON, A1deSIGNS, Zhongshan J.M.X Electronics Co., Ltd., Honest Exhibition Limited, Beyond LED Technology, and others. These companies are assisting the market’s growth with various mergers and acquisitions, new product launches, and collaboration activities. Some of the recent developments in the market include-
• In January 2023, Neon Attack announced the launch of its website for the US market. In 2020, Neon Attack made history with the introduction of its new product "Floro" and revolutionary neon signage. It features 1 million+ color selections and 200+ flows to create a one-of-a-kind lighting experience. The user can also control the Floro Neon sign with any Android or iOS smartphone device.
• In January 2023, at CES 2023, GE Lighting announced its new series of home accessories with the expansion of its Cync home ecosystem, which are to be launched throughout 2023. Cync Dynamic Effects Smart Hexagon Panels, Cync Dynamic Effects Smart Bulbs in Aline and indoor floodlights, and Cync Dynamic Effects Smart Neon-Shape Lights will be included in the lineup. This line-up features Dynamic Effects entertainment with 16 million colors, on-device music syncing, pre-set and custom light shows, and others.