Global Visible Light Communication Market to Display Unprecedented 109.2% CAGR from 2015 to 2022
According to a recent market study published by Transparency Market Research, the global visible light communication (VLC) market is poised to display a whopping CAGR of 109.2% from 2015 to 2022. The market’s valuation of US$267.6 mn in 2014 will reach US$113.27 bn by 2022. The title of this report is “Visible Light Communication Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2015 - 2022” and it is available for sale on the company’s website.
Browse the full Visible Light Communication (Retail Indoor Positioning, Underwater Communication, Hospitality, Automotive and Transport, Connected Devices, In-flight Communication/Infotainment, Light Based Internet, Others (Aerospace and Defense, Mining, Charging)) Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2015 - 2022 report at https://www.transparencymarketresearch.com/visible-light-communication-market.html
Visible light communication involves sending information along with illumination using the same light source. The medium uses visible light between 400 and 800 terahertz (THz). VLC is contained in the larger optical wireless communications technologies medium.
The burgeoning demand for radio frequency communication leading to spectrum limitation is propelling the demand for visible light communication as an alternate technology. VLC offers features such as higher energy efficiency, safety, and minimal interference, thereby cementing the growth of the VLC market. In recent years, the VLC market has witnessed surging demand for VLC solutions from the retail sector owing to its usability in targeted advertisements and location-based services.
In the 2015-2022 period, Asia Pacific will display the fastest growth in the VLC market in terms of revenue. Increasing investments for R&D into visible light communication technology in countries such as China, Korea, and Japan are expected to open new applications and will augur well for the regional market’s growth. Furthermore, the energy efficiency of the VLC framework will drive the demand for visible light communication in emerging markets during the report’s forecast period. In 2014, North America contributed the largest share of revenue, at 43.4%, to the global market.
The expected increase in the adoption of VLC across regional markets would give a thrust to the growth rate in the short term. In the mid- and long-term, a marginal steadiness in the market is expected.
In 2014, retail indoor positioning stood as the largest segment contributing 57.5% of all revenue to the market. The growth of this segment is mainly attributed to the increasing demand from developed countries in North America and Europe.
On the basis of data rate, the 1 Mb/s segment dominated the market in 2014. By distance, the up to 10 m segment led the market in the same year. Each of these segments held a share of close to 80% in the global market. In terms of communication type, the segments of this market are unidirectional and bidirectional. Of the two, bidirectional visible light communication has not displayed swift adoption as compared to unidirectional communication. Nevertheless, with technological advances that will negate the impact of constraints, the bidirectional VLC segment will surpass its competitor segment over the forecast period.
Some of the key players operating in the global visible light communication market that have been profiled in this report are pureLiFi Ltd., Nakagawa Laboratories Inc., Outstanding Technology Co. Ltd., Koninklijke Philips N.V., Fraunhofer Heintich Hertz Institute, ByteLight Inc., Axrtek Inc., General Electric Lighting, LVX System, and Lightbee Corp.
Market Segmentation of Global Visible Light Communication Market:
Global Visible Light Communication Market, by End-user Application
- Retail indoor positioning
- Underwater communication
- Automotive and transport
- Connected devices
- In-flight communication/infotainment
- Light based internet
- Others (aerospace and defense, mining, charging)
Global Visible Light Communication Market, By Data Rate
- Up to 1 Mb/s
- Above 1 Mb/s
Global Visible Light Communication Market, By Distance
- Up to 10 m
- Above 10 m
Global Visible Light Communication Market, By Communication Type
Global Visible Light Communication Market, By Geography
- North America
- Asia Pacific
- Middle East and Africa ( MEA)
- Latin America
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