Visible Light Communication (VLC) Market | Alternative Solution to Overburdened RF Technology for Outdoor Networking

The free space optics (FSO) market is expected to grow from USD 0.27 billion in 2018 to USD 1.45 billion by 2023, at a CAGR of 39.58% between 2018 and 2023. Factors driving the growth of the FSO market include last-mile connectivity, no licensing, and alternative solutions to overburdened RF technology for outdoor networking. The visible light communication (VLC) market is expected to grow from USD 2.56 billion in 2018 to USD 75.00 billion by 2023, at a CAGR of 96.57% between 2018 and 2023. Key factors driving this growth are faster and safer data transfer, RF spectrum bandwidth crunch, and less energy consumption.

The VLC market has been segmented into different components LED, photodetector, microcontroller, and software. Software is the major component of the VLC system, and it is expected to dominate the VLC market during the forecast period. This is mainly because the two-way communication by VLC technology would allow all the electronic devices to communicate with each other and would require efficient software support. The market for photodetector is expected to grow at the highest CAGR between 2018 and 2023. This growth is attributed to the commercialization of bidirectional VLC. Photodetector will enable Li-Fi to function as a bidirectional communication system (like a conventional broadband and Wi-Fi).

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Major players in the FSO market are LightPointe Communications (US), fSONA Networks (Canada), Wireless Excellence (UK), Plaintree Systems (Canada), and Trimble Hungary (Hungary). Key players of the VLC market are Signify Holding (Netherlands), Oledcomm (France), Lucibel (France), pureLiFi (UK), Acuity Brands (US), General Electric (US), Fraunhofer HHI (Germany), LVX System (US), Panasonic (Japan), and IBSENtelecom (Norway).

Mobile backhaul and consumer electronics applications expected to hold the largest share of the FSO and VLC markets, respectively

Among all the major applications of FSO, the mobile backhaul application is expected to account for the largest share during the forecast period. This is due to the increasing internet penetration and data traffic from mobile applications, including the Internet, video, and data services, which has grown tremendously with the proliferation of smartphones, tablets, and other wireless devices. Whereas, VLC market for consumer electronics is expected to hold the largest share by 2023 because many consumer electronics devices already have LED technology integrated into their user interface, implementing VLC connectivity is inexpensive and easy to deploy.

Photodetector expected to be the fastest growing component in the VLC market

The market for photodetector is expected to grow at the highest CAGR during 2018–2023. This growth is attributed to the commercialization of bidirectional VLC. Photodetector will enable the Li-Fi to function as a bidirectional communication system (like a conventional broadband and Wi-Fi). Photodetector is the main component of bidirectional VLC that helps in detecting changes in light intensity from the LED light source.