Lighting is one of the most important factors when shooting images or recording video. Lighting is not only neccesary to get the right exposure in your pictures or videos, but can also help give them the right look.
Before you buy lighting, it is important that it fits what you need it for. For example, if you need lighting for video, you need to buy LED panels or studio lights. It is important that they can provide constant lighting.
However, if you photograph, you typically have to choose between flashes and studio lights/studio flashes. They can provide a fast, powerful light synchronized with the camera trigger.
You should also consider whether the lights are to be used for in a studio or they should be able to be set up on the go.
Studio lights are not exactly ready for on-the-go but are the strongest and are really good if you are going to photograph or shoot a set scene. It is easy to manipulate the light from the lamps or the LED panels with umbrellas and soft boxes.
If you want something more portable, a flash will be good for photography and LED panels for video. Both can be mounted on your camera or video rig.