Market Size – The bi-color light emitting diode (LED) ring light market size has grown strongly in recent years. It will grow from $19.53 billion in 2023 to $20.79 billion in 2024 at a compound annual growth rate (CAGR) of 6.4%. The growth in the historic period can be attributed to increasing popularity of social media platforms, increasing consumer demand, growing demand for online video creation, rising popularity of remote work and virtual meetings, and increasing trends in live streaming and online tutorials.
The bi-color light emitting diode (LED) ring light market size is expected to see strong growth in the next few years. It will grow to $26.91 billion in 2028 at a compound annual growth rate (CAGR) of 6.7%. The growth in the forecast period can be attributed to growing demand for high-quality photography and videography, growing e-commerce industry, rising adoption of smart lighting solutions, growing interest in photography and content creation, and rising demand for versatility and ease of use bi-color light emitting diode (LED) ring light. Major trends in the forecast period include technological advancements in light emitting diode (LED) lighting, including app-controlled and programmable light emitting diode (LED) ring lights, collaborations with influencers and content creators, product innovation and customization, and integrating Artificial Intelligence (AI).
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Scope Of Bi-Color Light Emitting Diode (LED) Ring Light MarketThe Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Bi-Color Light Emitting Diode (LED) Ring Light Market Overview
Market Drivers –The increasing demand for photography and videography is projected to enhance the growth of the bi-color light-emitting diode (LED) ring light market in the near future. Photography and videography involve capturing and recording images and videos for various purposes, including art, documentation, and communication. The surge in demand can be attributed to the importance of building brand identity and credibility, showcasing products and services, improving search engine optimization and online presence, as well as saving time and resources. Bi-color LED ring lights offer adjustable color temperature and uniform lighting, minimizing shadows and enhancing skin tones for superior results in photography and videography. For instance, a report from Camera Prism in March 2024 stated that approximately 1.72 trillion photos were taken globally in 2022, averaging about 54,500 pictures per second or 4.7 billion per day. Consequently, the increasing demand for high-quality photography and videography is driving the growth of the bi-color LED ring light market.
Market Trends – Major companies operating in the bi-color light-emitting diode (LED) ring light market are focusing on developing innovative products such as bi-color light-emitting diode (LED) spotlights that enhance lighting quality, provide adjustable color temperatures and improve overall versatility for professional photography, videography, and content creation applications. A bi-color light-emitting diode (LED) spotlight is a versatile lighting solution featuring adjustable color temperatures, making it ideal for professional photography and videography. For instance, in July 2022, Nanlite, a China-based company that offers lighting solutions, launched Forza 150B, a bi-color light-emitting diode (LED) spotlight. The Forza 150B offers enhanced correlated color temperature (CCT) flexibility within a compact form factor, featuring optimal fan control and a powerful output of 23,130 lux at 5600K from one meter. Its CCT range of 2700K-6500K makes it suitable for on-the-move lighting, live streaming, interviews, and small spaces. The key features include a weight of 1.56kg, a CRI average of 96, a TLCI average of 98, and versatile control options, including Bluetooth and DMX/RDM.
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 Centres, Department Stores, Independent Electronic Stores, Online Retailers, Other Distribution Channels
3) By Application: Photography, Video Production, Other Applications
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Regional Insights – North America was the largest region in the bi-color light emitting diode (LED) ring light market in 2023. 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.
Key Companies – Major companies in the 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.
Table of Contents 1. Executive Summary2. Bi-Color Light Emitting Diode (LED) Ring Light Market Report Structure3. Bi-Color Light Emitting Diode (LED) Ring Light Market Trends And Strategies4. Bi-Color Light Emitting Diode (LED) Ring Light Market – Macro Economic Scenario5. Bi-Color Light Emitting Diode (LED) Ring Light Market Size And Growth…..27. Bi-Color Light Emitting Diode (LED) Ring Light Market Competitor Landscape And Company Profiles28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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