Press release
Major Market Shift in Bi-Color Light Emitting Diode (LED) Ring Light Industry: Major Companies Drive Innovation In Bi-Color LED Ring Lights With Advanced Spotlights For Professional Use
Bi-Color Light Emitting Diode (LED) Ring Light Market
In recent times, there has been a significant expansion in the market size for bi-color light emitting diode (LED) ring lights. It is expected to rise from $20.79 billion in 2024 to $22.19 billion in 2025, showcasing a compound annual growth rate (CAGR) of 6.7%. The growth experienced in the previous years can be linked to the rising popularity of social media platforms, augmented consumer demand, a surge in demand for online video creation, an increased preference for remote work and virtual gatherings, and a growing trend towards live streaming and online tutorials.
The market for bi-color light emitting diode (LED) ring lights is poised for robust growth over the next few years and is projected to escalate to $28.66 billion by 2029, registering a compound annual growth rate (CAGR) of 6.6%. The growth in the forecast period can be credit to increasing demand for superior photography and videography, expanding e-commerce sector, growing uptake of smart lighting options, rising interest in photography and content creation, and escalating demand for user-friendly and versatile bi-color light emitting diode (LED) ring lights. Key trends in the forecast period encompass technological advancements in light emitting diode (LED) lighting, such as app-operated and programmable LED ring lights, partnerships with influencers and content creators, product innovation and customization, along with the integration of Artificial Intelligence (AI).
What Factors Are Fueling Growth in the Bi-Color Light Emitting Diode (LED) Ring Light Market?
The expanding interest in photography and videography is anticipated to fuel the development of the bi-color light-emitting diode (LED) ring light market in the future. The need for photography and videography, used to record images and videos with various tools such as cameras, is increasing. This growing interest can be linked to the creation of brand identity, demonstrating products and services, enhancing online presence, and time and resource saving. The bi-color LED ring light provides adjustable color temperature and consistent lighting, reducing shadows and improving skin tones for excellent photography and videography results. For example, Camera Prism, a US company that manufactures advanced optical devices, reported in March 2024 that around 1.72 trillion photos were taken worldwide in 2022, averaging about 54,500 photos per second or 4.7 billion per day. As such, the growing desire for high-quality photography and videography has spurred the growth of the bi-color LED ring light market. The Effect of the Growing Remote Work Trend on the Bi-Color Light-Emitting Diode (LED) Ring Light Market Growth
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Which Businesses Are at the Forefront of Bi-Color Light Emitting Diode (LED) Ring Light Market Development?
Major companies operating in the bi-color light emitting diode (LED) ring light market are Ikan Corporation, Elgato Inc., Powerpak, Savage Universal Corporation, Draco Broadcast Inc., K&F Concept, Westcott Co., Falcon Eyes, CAME-TV, Lume Cube Inc., Nanlite SA, GODOX Photo Equipment Co.Ltd., Fovitec (USA) International Inc., Ring Light Pro Pyt Ltd., GVM (Great Video Maker), Yongnuo, Rotolight, ProMaster, LimoStudio, FotodioX Inc.
What Are the Latest Innovations in the Bi-Color Light Emitting Diode (LED) Ring Light Market?
Key players in the bi-color light-emitting diode (LED) ring light industry are concentrating on devising ground-breaking products like bi-color LED spotlights to enhance the lighting quality, offer adjustable color temperatures and increase the total versatility for applications related to professional photography, videography, and content creation. With adjustable color temperatures, a bi-color light-emitting diode (LED) spotlight provides adaptable lighting solutions that are perfect for professional imaging and film making. In a recent July 2022 example, Nanlite, a China-originated company providing lighting solutions, introduced their product Forza 150B, a bi-color LED spotlight. The Forza 150B delivers superior correlated color temperature (CCT) flexibility in a compact design, boasting excellent fan control and a potent output of 23,130 lux at 5600K from just one meter. With a CCT spectrum that spans 2700K-6500K, it is suitable for mobile lighting, live broadcasts, interviews, and confined spaces. Other prominent features encompass a weight of 1.56kg, an average CRI of 96, a TLCI average of 98, along with versatile management options like Bluetooth and DMX/RDM.
How Is the Bi-Color Light Emitting Diode (LED) Ring Light Market Segmented?
The bi-color light emitting diode (LED) ring light market covered in this report is segmented -
1) By Type: Less Than 10 Inches, 10 To 18 Inches, Greater Than 18 Inches
2) By Distribution Channel: Wholesalers Or Distributors, Hypermarket Or Supermarkets, Specialty Stores, Home Centers, Department Stores, Independent Electronic Stores, Online Retailers, Other Distribution Channels
3) By Application: Photography, Video Production, Other Applications
Subsegments:
1) By Less Than 10 Inches: Portable Ring Lights, Clip-On Ring Lights, Mini Selfie Ring Lights
2) By 10 To 18 Inches: Standard Ring Lights, Adjustable Brightness Ring Lights, Ring Lights With Tripod Stand
3) By Greater Than 18 Inches: Professional Studio Ring Lights, High-Intensity Ring Lights, Ring Lights With Advanced Color Temperature Control
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Where Is the Bi-Color Light Emitting Diode (LED) Ring Light Market Growth Most Prominent?
North America was the largest region in the bi-color light emitting diode (LED) ring light market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the bi-color light emitting diode (LED) ring light market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
What Is Covered In The Bi-Color Light Emitting Diode (LED) Ring Light Global Market Report?
- Market Size Analysis: Analyze the Bi-Color Light Emitting Diode (LED) Ring Light Market size by key regions, countries, product types, and applications.
- Market Segmentation Analysis: Identify various subsegments within the Bi-Color Light Emitting Diode (LED) Ring Light Market for effective categorization.
- Key Player Focus: Focus on key players to define their market value, share, and competitive landscape.
- Growth Trends Analysis: Examine individual growth trends and prospects in the Market.
- Market Contribution: Evaluate contributions of different segments to the overall Bi-Color Light Emitting Diode (LED) Ring Light Market growth.
- Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.
- Industry Challenges: Analyze challenges and risks affecting the Bi-Color Light Emitting Diode (LED) Ring Light Market.
- Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market.
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