LED Neon Lights Market Segmentation:
Type Segment Analysis
The silicone segment in the LED neon lights market is projected to hold a revenue share of 44.4% by 2035 owing to its distinct set of characteristics that make it an ideal material for LED neon light production. The segment is witnessing a spike in demand due to the temperature resistance of silicone LED neon lights, which allows them to bear different temperatures without affecting performance.
Silicone LED neon lights adoption is on the rise as they are resistant to UV, making them able to be exposed to the sun for a more extended period without fading or deteriorating. As a result, companies are shifting their focus to launch smart LED neon lights made with silicone. For example, in April 2024, Hama launched its latest Neon LED light strip in Europe for indoor and outdoor use. This smart RGB light offers a wide color gamut and lighting effects that may be remotely adjusted by app or voice command. Such innovations are anticipated to drive the LED neon lights market growth by the end of 2035.
Application Segment Analysis
The commercial segment is anticipated to lead the LED neon lights market with a massive share of 57.9% during the forecast period owing to high use of LED neon lights in advertisement and sign industries, interior decoration, and outdoor lighting. Companies are focusing on utilizing applications of LED neon light such as energy efficiency, long lifespan, and high esthetic value to drive the demand among the commercial customer base. For instance, in July 2024, Nova Flex announced that it had formed a strategic partnership with ELA + Synergy, one of the top lighting and electrical solution providers that strive to ensure quality service and products to its customers across the New York Metro Territory.
Our in-depth analysis of the LED neon lights market includes the following segments:
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