Startups are witnessing remarkable growth by offering customer-specific and customized solutions in global Visible Light Communication (VLC) market

[185 Pages Report] The free space optics (FSO) market is expected to grow from USD 0.15 billion in 2017 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 solution to overburdened RF technology for outdoor networking. The visible light communication (VLC) market is expected to grow from USD 1.30 billion in 2017 to USD 75.00 billion by 2023, at a CAGR of 96.57% between 2018 and 2023. 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).

Know More : Download PDF Brochure @ 

https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=946

The bidirectional VLC, which was commercialized in late 2017, is expected to succeed the unidirectional market and is expected to grow at a higher CAGR during the forecast period. The full utilization of special features of VLC is possible only with bidirectional transmission; hence, the technology will be adopted by all major verticals. The market will grow tremendously and surpass the unidirectional transmission type market.

The FSO and VLC markets have also been segmented on the basis of application. Among all the major applications of FSO, the mobile backhaul application is expected to account for the largest share during the forecast period. The VLC market for consumer electronics is expected to hold the largest share by 2023. The FSO and VLC markets for healthcare and hazardous environment applications are expected to grow at the highest rate during 2018–2023.

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).

About MarketsandMarkets™

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets’s flagship competitive intelligence and market research platform, "Knowledgestore" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

Contact:
Mr. Shelly Singh
MarketsandMarkets™ INC. 
630 Dundee Road 
Suite 430 
Northbrook, IL 60062 
USA : 1-888-600-6441