Ring Lights Market is projected to Record a CAGR of 13.8% During the Forecast Period 2022-2031

Manufacturers are focusing not only on developing innovative product features, but also on effectively developing sales and distribution systems. Manufacturers are coming into strategic alliances with Amazon, Flipkart, Alibaba and other e-commerce platforms to have a wider reach.

Most consumers are focusing on online product research prior to purchase. As a result, manufacturers are increasing their presence in online sales channels. Moreover, popular ring lights are coming out with unique features including dimming settings, flexible arms, portable shapes and sizes, brightness adjustments, extra-long power cords, low heat output, and connectivity with mobile phones.

These multifunctional product offerings are further anticipated to fuel growth of the ring lights market in the coming years.

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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

Key Takeaways from the Ring Lights Market Study

Ring lights with stand are expected to hold over 39% of the market in 2021 owing to their stability and ease of use.Smart/automatic technology is expected to contribute revenue share of more than 60% in 2021 driven by incorporation of advanced remotes or sensors.Japan will lead East Asia market with a share of 54.5% in 2021. Growth in Japan is propelled by large scale manufacturing and faster access to associated technology.Germany holds over 22% of the Europe market, supported by the presence of a matured manufacturing sector.Canada market is exhibiting high potential for growth in North America, rising at 18.9% CAGR through 2031.”The incorporation of timers, remotes, LED lights and other features by ring lights manufacturers are emphasized on improving the quality and performance of their products. Some of the market players are even investing in interesting designs and integrating newer technologies for multi-function applications, which will support sales prospects in the long term,” says an FMI analyst.

Impact of COVID-19 on the Market

The COVID-19 pandemic, has had a notable impact on the ring lights. The closing of retail outlets, restrictions on pricing and marketing, and curfews in many countries around the world have resulted in lower sales volumes. However, the end of lockdown period saw higher consumer traffic, mostly from the online sales channels.

Furthermore, the COVID-19 pandemic had influenced self-isolated individuals to spend time on social media. This involved various activities, some of which were clicking photographs and video making which has created opportunities for ring light manufacturers to regain and bolster sales through e-commerce platforms.

Who is Winning?

Market leaders are largely focused on aggressive promotional strategies, advertisements, and new product launches, with multifunctional configurations that have driven sales growth of ring lights globally.

Major players present in the ring lights market are Hensel Frontprojection System, Spectrum Aurora, Zhejiang Seming Electronic Co., Ltd., Lylight Electric Co, Limited, Bron Elektronik AG, Shamax Emporium, Shenzhen Jueying Technology Co., Ltd., Smart Vision Lights, Koninklijke Philips N.V., VOLT Lighting, Panasonic Corporation, OSRAM Sylvania Inc., Unique Lighting Systems, and Samsung Electronics Co. Ltd. among others.

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Get Valuable Insights into Ring Lights Market

Future Market Insights, in its new offering, provides an unbiased analysis of the global ring lights market, presenting historical demand data (2016-2020) and forecast statistics for the period from 2021-2031. The study divulges compelling insights on the ring lights market based on the product type (with stand, hanging, and portable), product size (below 6 inches, 6 to 12 inches, 12 to 24 inches, and more than 24 inches ), price range (Below US$ 25, US$ 25 – US$ 50, US$ 50 – US$ 75, and US$ 75 and above), technology ( smart/automatic and conventional), distribution channel (wholesalers/distributors, hypermarkets/ supermarkets, specialty stores, home centres, department stores, independent electronic stores, online retailers, and others), application (commercial, studio, photography, video production, outside, households, macro photography, videography, and makeup application), power source (battery operated, solar power, and AC supply) buyer type (individual (DIY consumers), contractors, interior designers and others) across seven major regions.