Ring Lights Market

Key Points Covered in the Ring Lights Market Study

• Market estimates and forecast 2015-2031
• Key drivers and restraints impacting market growth
• Segment-wise, Country-wise, and Region-wise Analysis
• Competition Mapping and Benchmarking
• Brand share and Market Share Analysis
• Key Product Innovations and Regulatory Climate
• COVID-19 Impact on Ring Lights Market and How to Navigate
• Recommendation on Key Winning Strategies

Ring Lights Sales in 2016-2020 Compared to Demand Outlook for 2021-2031

The shift from conventional to highly efficient LEDs lights, improvements in technology, and enhanced energy efficient standards have spurred demand. As a result, the ring light market will rise at 14.3% CAGR between 2021 and 2031 in comparison above 10.6% CAGR registered during 2016-2020.

Increasing interest for advanced photographic devices, at professional photo-shoots and improving job opportunities in the field of photography are some of the primary factors driving the growth of the global ring light market.

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The penetration of beauty experts and bloggers on social media platforms has drastically increased. A rising number of bloggers and social media experts have played an important role in influencing buying preferences.

Beauty experts actively use ring lights to guide consumers towards new beauty trends, new product launches and more. The trend however is no longer restricted to a single category of influencers. Focus on high definition video quality to offer improved viewing experience in social media will remain a chief driver.

Ring lights are convenient and cost-efficient source of professional lighting that can be suitable for installation in smaller spaces. This has improved their demand as key accessory for videography.

Driven by ongoing trends, ring lights are now available with phone or camera mounts, tripod stands, goosenecks, mirrors, and carry bags. These value additions are further projected to drive the ring lights sales in the coming years.

How is the Rising Popularity of Macro Photography Driving Ring Light Sales?

Ring lights facilitate the production of high-quality videos and photographs with little effort. They can be used to produce perfectly balanced lighting resulting in high-quality photos and video. Ring lights can be moved to different locations and angled with ease.

They are transportable and lightweight, which makes them easy to carry anywhere. These factors are expected to fuel the demand for ring lights in the coming years. Furthermore, ring lights also help to reduce the burden of spending a lot of money for professional shoots, resulting in additional demand for such products in the market.

Moreover, the growing influence of social media, along with the rising number of make-up artist influencers, is expected to offer lucrative opportunities in the coming decade.

What is the Impact of the COVID-19 Crisis on the Ring Lights Market?

Covid-19 has affected the global economy in numerous ways. Production and demand were adversely affected due to the closure of manufacturing plants. The global and regional supply chain as well as imports and exports were halted with sudden restrictions damaging business operations in the ring light industry.

The shutdown of commercial retail stores impacted the regional trade of ring lights, resulting in significant losses. The imposition of stringent lockdown rules impacted the operation and functioning of salons, resulting in reduced demand.

However, boosted by e-commerce, the sales of well-known home appliance brands soared in the post-lockdown phase. Nonetheless, supply chains were hampered owing to the lockdown and the production units came to a standstill, bringing a dip in the industry. The effect is, however, a short-lived one and companies are prepping to bounce back with higher sales in the near future.

Country-wise Insights

How is the Ring Lights Market Faring in the U.S.?

North America is predicted to remain an attractive market during the forecast period, according to Future Market Insights. According to the study, the U.S. is expected to account for over 87.4% of the market share in North America through 2021.

Key factors adding to regional market growth include initiatives undertaken by governments for adopting light emitting diodes along the presence of numerous local market players.

Moreover, steady decline in the prices of LED ring lights and the availability of smart lighting solutions, coupled with modernized energy policies across the world are expected to provide an impetus for market growth over the forecast period.

Why is Demand for Ring Lights Increasing in Germany?

Demand in the Germany market is expected to rise at 10.1% CAGR over the forecast period. Germany is expected to witness favorable growth supported by the presence of key manufacturers and suppliers in the country. Further, the trade war between the U.S. and China caused a rise in import duties and an eventual increase in the overall product prices. This factor is expected to benefit European manufacturers.

Moreover, ring lights were already popular among people making videos for the popular social media platforms even before coronavirus took hold. These platforms gained immense popularity during the pandemic, as people were seeking out sources of entertainment from home.

Spurt of social media influencers looking to attract audience and provide high quality videos will remain a chief growth driver of the ring lights market in Germany.

How are Indian Millennials Driving the Sales of Ring Lights?

In 2021, India will account for over 36.1% market share in South Asia. Rapid urbanization is one of the key drivers behind the growth of the market. Mainstream millennial consumers are beauty-conscious and socially active too, propagating demand with increasing incomes.

Moreover, technological intervention and new product developments are running in parallel, consequently driving the demand for ring lights in the country. A factor that holds prime importance in the increasing demand for ring lights is the changing lifestyle of consumers and adoption of western social media trends.

Category-wise Insights

Why is the Demand for Smart/Automatic Technology Key to Ring Lights Sales?

Based on ring light technology, smart/automatic is the leading category, accounting for nearly 64.5% of the market in 2021. Rapid growth of lighting control systems in the general lighting industry, are the factors that drive the growth of the market.

Moreover, features of traditional ring lighting such as color turning, switching on and off and dimming have now been replaced by a remote, thus positively impacting the sales of ring light products for the foreseeable future.

Which Product Size is preferred by Consumers?

Based on product size, 12 to 24 Inches is the leading category, accounting for nearly 33.8% of the market in 2021. Ring lights in the 12-to-24-inch range are very common as they are very versatile, capable of producing an eye-catching glow up to about 12 inches, or about five feet.

Additionally, it is designed for daylight-balance lighting, ideal for photographers and videographers, which makes it one of the best ring lights, especially for videography.

What Ring Lights are preferred by Consumers in Terms of Price?

Ring lights below US$ 75 is expected to contribute revenue share of more than 40.4% in the global ring light market. This is the most preferred type among millennial and professional consumers.

Moreover, ring light in the range of US$ 75 usually comes with tripod stands, phone holder remote control, and brightness level 3 light modes that are dimmable for beauty makeup live streaming, YouTube videos, and photography.

What are the Prospects of Sales for Photography Applications?

In terms of application, photography segment dominated the industry. It is expected to hold a revenue share of more than 16.7% in 2021 owing to the fact that ring lights have become very popular in portrait photography.

In addition to studio lighting, professional photographers or videographers use ring lights to ensure that their subject's face is evenly lit with a pleasing, soft light. This is one of the main factors supporting industry growth.

Are Ring Lights with With-Stands Gaining Consumer Interest?

Lights with stands accounted for around 3/4^th of the global ring light market by the end of 2020, and is expected to exhibit faster growth, registering a CAGR of more than 11.8% over the forecast period.

The ring light's circular design allows users to use their cameras to focus on specific details of the shoot. These designs and structures are gaining traction, which is expected to create a positive driving factor for the growth of the ring lights market.   

Why are Solar Power Sources Preferred for Ring Light Configurations?

Solar power is expected to contribute a revenue share of more than 46.5% in the global ring light market. Solar power for ring lights is convenient for charging and extending battery life as compared to AC supply or batteries. 

How are Individual Sales Driving the Demand for Ring Lights?

Individual sales are expected to rise at a CAGR of 14.0% from 2021 to 2031 as ring lights are gaining popularity among Tik-Tokers, Youtubers, bloggers and casual users. The penetration of social media influencers and bloggers has drastically increased.

What are the Prospects of Online Ring Light Sales?

In terms of sales channel, independent store-based retailing holds a notable 19.9% share in the global ring light market. This is because customers can compare and choose between a wide range of available products, which in turn has increased footfall in these shops.

The convenience offered by online platforms is likely to add impetus to the market’s growth reflecting a 13.7% CAGR through the assessment period. COVID-19 lockdowns have further promoted the use of e-commerce websites due to the closure of retail stores. Players in the market have taken this opportunity to strengthen their presence through online channels amidst the pandemic.

Competitive Landscape

Companies operating in ring light market are aiming for strategic collaborations and partnerships with other manufacturers to expand their product portfolio to address the demand of an expanding patient pool.

• In April, 2021, Pixco, announced its new product, the Pixco RL-4955 18” LED Ring Lights Built-in Live Sound Card. The product aimed towards YouTubers, vloggers, content creators and influencers to broadcast high quality professional content on any platform.
• Elgato launched a 17-inch ring light, with a range of warm and cool color options with brightness up to 25,000 lumens.
• Neewer revealed its new 18-inch ring light kit including a 18-inch outer 5500K LED ring light, a series of color filters, a 61-inch light stand, a smartphone holder, a ball head hot shoe adapter for DSLR cameras, and a power adapter.

Scope of Report

Key Questions Answered in the Report

• How much is the ring lights market worth?

  The global ring light market is valued at over US$6.9 Bn in 2021.

• What is the share of the top players in the ring lights market in 2021?

  Koninklijke Philips N.V., General Electric Company, Hensel Frontprojection System, and Samsung Electronics Co. Ltd. Cumulatively account for 41.6% of the ring light market.

• Which are the top 5 countries driving demand for ring lights?

  The U.S., Japan, China, Germany, and India are leading countries reflecting consistently high demand.

• Which countries are key producers of ring lights?

  The U.S., Japan, Germany, South Korea, and China are the top producers of ring lights.

• What is the growth outlook for ring lights market between 2020 and 2021?

  The ring light market grew by 12.7% between 2020 and 2021.

• What is the North America ring lights market outlook?

  The North America ring light market is set to reflect a 13.7% CAGR through the assessment period.

• At what rate is the sales of ring lights set to increase in Europe?

  The Europe ring light market is set to rise at 13.2% CAGR through 2031.

• What are the key statistics of the South Korea and Japan ring lights market in 2021?

  The South Korea and Japan markets will account for 14.3% and 54.5% of the East Asia value share.

• What is the demand outlook for ring lights market?

  The ring lights market is set to rise at a CAGR of over 14% to reach a valuation of over US$ 26.2 Bn by 2031.

• At what rate did the ring lights market grow in the last 5 years?

  The ring lights market reflected a 17.7% CAGR between 2016 and 2020.

Market by Category

By Product Type:

• With Stand
• Hanging
• Portable

By Product Size:

• Below 6 Inches
• 6 to 12 Inches
• 12 to 24 Inches
• More than 24 Inches

By Price Range:

•  Below US$ 25
• US$ 25- US$ 50
• US$ 50- US$ 75
• US$ 75 and Above

By Technology:

• Smart/Automatic
• Conventional

By Distribution Channel:

• Wholesalers/Distributors
• Hypermarket/Supermarkets
• Specialty Stores
• Home Centres
• Department Stores
• Independent Electronic Stores
• Online Retailers
• Others

By Application:

• Commercial
• Studio
• Photography
• Video Production
• Outside
• Households
• Macro Photography
• Videography
• Makeup Application

By Power Source:

• Battery Operated
• Solar Power
• AC Supply

By Buyer Type:

• Individual (DIY Consumers)
• Contractors
• Interior Designers
• Others

By Region:

• North America
• Latin America
• Europe
• East Asia
• South Asia
• Oceania
• Middle East and Africa (MEA)