Bi-Color Light Emitting Diode (LED) Ring Light Market Report 2024

This Bi-Color Light Emitting Diode (LED) Ring Light industry report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market’s historic and forecast market growth by geography.

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 during the historic period can be attributed to the rising popularity of social media platforms, increasing consumer demand, growing interest in online video creation, the expanding trend of remote work and virtual meetings, and the increasing prevalence of 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 the increasing demand for high-quality photography and videography, the expanding e-commerce industry, the rising adoption of smart lighting solutions, growing interest in photography and content creation, and the demand for versatile and user-friendly bi-color LED ring lights. Key trends during this period include technological advancements in LED lighting, such as app-controlled and programmable LED ring lights, collaborations with influencers and content creators, product innovation and customization, and the integration of artificial intelligence (AI).

The increasing demand for photography and videography is expected to drive the growth of the bi-color light-emitting diode (LED) ring light market in the future. Photography and videography involve capturing and recording images and videos using cameras and related equipment for various purposes, including art, documentation, and communication. This growing demand is driven by the need to build brand identity and credibility, showcase products and services, improve search engine optimization and online presence, and save time and resources. The bi-color LED ring light offers adjustable color temperatures and uniform lighting, which helps minimize shadows and enhance skin tones for superior photography and videography. For instance, in March 2024, Camera Prism, a U.S.-based company specializing in advanced optical devices, reported that approximately 1.72 trillion photos were taken globally in 2022, averaging around 54,500 pictures per second or 4.7 billion per day. Consequently, the increasing demand for high-quality photography and videography is fueling the growth of the bi-color LED ring light market.

Leading companies in the bi-color LED ring light market are focusing on developing innovative products, such as bi-color LED spotlights, that enhance lighting quality, offer adjustable color temperatures, and improve overall versatility for professional photography, videography, and content creation applications. A bi-color LED spotlight is a versatile lighting solution with adjustable color temperatures, making it ideal for professional use. For example, in July 2022, Nanlite, a China-based company specializing in lighting solutions, launched the Forza 150B, a bi-color LED spotlight. The Forza 150B offers enhanced correlated color temperature (CCT) flexibility within a compact design, 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-go lighting, live streaming, interviews, and small spaces. 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.

In November 2021, Vitec Group plc, a UK-based company that manufactures hardware and software for the film industry, acquired Savage Universal Corporation for $57.3 million. This acquisition aimed to enhance Vitec’s competitive position by adding a well-respected brand to its portfolio and improving its ability to compete with other major players in the industry. Savage Universal Corporation is a U.S.-based company that manufactures bi-color LED ring lights.

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.

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.

The countries covered in the bi-color light emitting diode (LED) ring light market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

A bi-color LED ring light is a lighting device that features an array of LEDs arranged in a circular pattern. It offers adjustable illumination with two color temperature options, allowing users to tailor the lighting to different needs, such as achieving natural skin tones in photography or minimizing shadows in video recording.

The primary types of bi-color LED ring lights are categorized by size such as less than 10 inches, 10 to 18 inches, and greater than 18 inches. Lights greater than 18 inches are designed to provide soft, even lighting over a large surface, making them suitable for professional studio setups, extensive video productions, and situations requiring high-quality, adjustable lighting over a wide area. These lights are distributed through various channels, including wholesalers or distributors, hypermarkets or supermarkets, specialty stores, home centers, department stores, independent electronic stores, online retailers, and others. They are used in a range of applications, such as photography, video production, and more.

The bi-color light emitting diode (LED) ring light market research report is one of a series of new reports that provides bi-color light emitting diode (LED) ring light market statistics, including bi-color light emitting diode (LED) ring light industry global market size, regional shares, competitors with a bi-color light emitting diode (LED) ring light market share, detailed bi-color light emitting diode (LED) ring light market segments, market trends, and opportunities, and any further data you may need to thrive in the bi-color light emitting diode (LED) ring light industry. This bi-color light emitting diode (LED) ring market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The bi-color light emitting diode (LED) ring light market consists of sales of dimmable light emitting diode(LED) ring lights, portable lights, and studio-grade lights. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

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