Visible Light Communication (VLC) Market worth $75.00 billion by 2023
According to the new market research report on "Free Space Optics (FSO) and Visible Light Communication (VLC)/Light Fidelity (Li-Fi) Market
by Component (LED, Photodetector, Microcontroller, and Software),
Transmission Type, Application, and Geography - Global Forecast to 2023",
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% during
2018–2023. 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 2.56 billion in
2018 to USD 75.00 billion by 2023, at a CAGR of 96.57% between 2018
and 2023. Major factors driving this growth are faster and safer data
transfer, RF spectrum bandwidth crunch, and less energy consumption.
by Component (LED, Photodetector, Microcontroller, and Software),
Transmission Type, Application, and Geography - Global Forecast to 2023",
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% during
2018–2023. 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 2.56 billion in
2018 to USD 75.00 billion by 2023, at a CAGR of 96.57% between 2018
and 2023. Major factors driving this growth are faster and safer data
transfer, RF spectrum bandwidth crunch, and less energy consumption.
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Mobile backhaul and consumer electronics
applications expected to hold the largest share of the FSO and VLC
markets, respectively
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.
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.
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.
FSO and VLC market in APAC is expected to grow at the highest CAGR during the forecast period
The FSO market in APAC is expected to grow at the
highest CAGR between 2018 and 2023. Increasing manufacturing facilities,
advanced infrastructure, and the growing computer-aided design (CAD)
industry are the factors driving the FSO market in APAC. The VLC market
in APAC is expected to grow at the highest CAGR due to recent
developments and increased expenditure on VLC-related R&D activities
in APAC.
highest CAGR between 2018 and 2023. Increasing manufacturing facilities,
advanced infrastructure, and the growing computer-aided design (CAD)
industry are the factors driving the FSO market in APAC. The VLC market
in APAC is expected to grow at the highest CAGR due to recent
developments and increased expenditure on VLC-related R&D activities
in APAC.
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).
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).
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collaboration with the clients to identify new opportunities, identify
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