FSO & VLC / Li-Fi Market Size, Share, Industry Report, Revenue Trends and Growth Drivers
Free-Space Optics (FSO) and Visible Light Communication (VLC), also known as Li-Fi, represent cutting-edge technologies that are revolutionizing the way we transmit data wirelessly. These innovative approaches leverage light as a medium for communication, offering numerous advantages over traditional radio frequency (RF) systems. From high-speed internet access to secure indoor positioning, FSO and VLC/Li-Fi technologies are driving transformative changes across various applications.
The FSO & VLC/Li-Fi market is projected to grow from USD 3.3 billion in 2023 to USD 18.2 billion by 2028, registering a CAGR of 40.3% during the forecast period. The market growth is attributed to the high emergence of new applications such as IoT and 5G and the increasing penetration of FOS as an alternative solution to RF technology for outdoor networking. Furthermore, the growing demand for faster and safer data transfer is expected to create lucrative opportunities for the market.
Applications Driving Adoption:
Wireless Internet Access: FSO and VLC/Li-Fi technology enable high-speed wireless internet access in urban environments, campuses, and enterprise settings. By using light waves to transmit data, these systems offer faster data rates and greater bandwidth compared to conventional Wi-Fi, making them ideal for bandwidth-intensive applications such as video streaming, cloud computing, and virtual reality.
Indoor Navigation and Positioning: FSO and VLC/Li-Fi technology are revolutionizing indoor navigation and positioning systems. By leveraging visible light signals emitted from LED luminaires, these systems enable precise localization of devices within indoor spaces, offering accurate positioning for asset tracking, logistics management, and indoor wayfinding applications.
Smart Lighting Solutions: FSO and VLC/Li-Fi technology integrate seamlessly with LED lighting systems, offering dual functionality as both lighting sources and data communication platforms. Smart lighting solutions equipped with VLC/Li-Fi capabilities enable dynamic control of lighting intensity and color, while simultaneously providing high-speed wireless connectivity for IoT devices and smart sensors.
Secure Communication Networks: FSO and VLC/Li-Fi technology offer enhanced security features compared to traditional RF-based communication systems. Since light signals do not penetrate through walls, FSO and VLC/Li-Fi networks provide inherently secure communication channels, making them suitable for applications requiring high levels of data privacy and security, such as government facilities, financial institutions, and healthcare environments.
Trends Shaping the Industry:
Integration with 5G Networks: FSO and VLC/Li-Fi technology are being integrated with 5G networks to augment existing wireless communication infrastructure. By leveraging the complementary strengths of FSO/VLC/Li-Fi and 5G technologies, operators can deliver ultra-fast, reliable, and low-latency wireless connectivity in both indoor and outdoor environments, meeting the growing demand for bandwidth-intensive applications.
Advancements in Optical Components: Ongoing advancements in optical components, including photodetectors, LEDs, and optical transceivers, are driving improvements in the performance and reliability of FSO and VLC/Li-Fi systems. These advancements enable higher data rates, longer transmission distances, and enhanced spectral efficiency, making FSO and VLC/Li-Fi technology more viable for commercial deployment across diverse applications.
Standardization and Interoperability: Efforts to standardize FSO and VLC/Li-Fi technologies are underway to ensure interoperability and compatibility among different vendors' products. Standardization initiatives aim to establish common protocols, interfaces, and specifications, facilitating seamless integration and deployment of FSO and VLC/Li-Fi systems in multi-vendor environments.
Emergence of Hybrid Networks: Hybrid networks that combine FSO, VLC/Li-Fi, and RF-based technologies are gaining traction, offering flexible and resilient communication solutions. These hybrid networks leverage the strengths of each technology to overcome the limitations of individual systems, providing robust connectivity solutions for diverse use cases ranging from urban deployments to industrial settings.
Key players
Key players in the FSO & VLC/Li-Fi market include fSONA Networks Corp. (Canada), Wireless Excellence Limited (UK), Signify Holding (formerly Philips Lighting) (Netherlands), Oledcomm (France), Lucibel (France), PureLiFi Limited (UK), Acuity Brands (US), Panasonic Corporation (Japan), Fraunhofer HHI (Germany), and Trimble Hungary ltd. (Hungary), among others.
Know more Information @ https://www.marketsandmarkets.com/Market-Reports/visible-light-communication-market-946.html
About MarketsandMarkets™
MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.
The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines - TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.
Built on the ’GIVE Growth’ principle, we work with several Forbes Global 2000 B2B companies - helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.
To find out more, visit www.MarketsandMarkets™.com or follow us on Twitter, LinkedIn and Facebook.
Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441
No comments: