Published: Mar, 2019
Transparency Market Research (TMR) witnesses that the global visible light communication market has a significantly consolidative vendor landscape owing to the dominance of few players. The key players operating in the market are PureLiFi, Ltd, Axrtek Outstanding Technology, Co., General Electric Company, LVX System, and Nakagawa Laboratories, Inc. Some of these players are increasingly taking part into changing the focus on developing hybrid VLC systems.
According to TMR, the global visible light communication market to reach US$113.27 bn by 2022 as from US$267.6 mn in 2014. During the forecast period, between 2015 and 2022, the global visible light communication market is anticipated to expand at a CAGR of 109.2%.
Based on end users, the retail indoor positioning segment held the leading share in overall market and is expected to expand at a CAGR of 93.82% over the forecast period from 2015 and 2022. Based on region, North America visible light communication market will be worth US$47.88 bn by 2022 as it expands at very high CAGR of 108.65% from 2015 to 2022.
Benefits of the Visible Light Communication to Propel Market Growth
The developing number of Internet clients and expanding interest for communication innovation has all in all brought about an expanded interest for visible light communication (VLC) arrangements. The way that the most extreme remote traffic rises inside that are additionally, all around lit up has essentially increased the utilization of visible light communication in retail indoor situating. The interest from retailers to improve the shopping background of retail customers by informing them about item offers while shopping requires an innovation, for example, VLC to convey precise and brisk outcomes. Therefore, in the coming years, VLC is relied upon to rival innovations, for example, Wi-Fi and Bluetooth to enable retailers to expand footfalls by testing the development of web based business.
Advancement in the Visible Light Communication to Propel Market Growth
In general visible light communication market is still in its incipient stage. Be that as it may, it has accomplished astounding advancement in the district of North America. The nearness of driving players that are forcefully creating and advancing updated administrations in the district have been helping n the general market. The continuous item advancement, acquisitions, and associations have likewise gone far in setting up this market crosswise over North America. The pattern of lighting organizations procuring or collaborating with VLC new businesses is additionally foreseen lift the general appropriation of VLC.
This information is encompassed in the report by TMR, titled, “Visible Light Communication Market (End-User Application: (Retail indoor positioning, Underwater communication, Hospitality, Automotive and transport, Connected devices, In-flight communication/ infotainment, Light based internet, and Others); Data Rate (Up to 1 Mb/s and Above 1 Mb/s)) – Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2015 – 2022.”
For the study, the reprocessed medical devices market has been segmented as follows:
- Retail indoor positioning
- Underwater communication
- Automotive and transport
- Connected devices
- In-flight communication/ infotainment
- Light based internet
- Up to 1 Mb/s
- Above 1 Mb/s
- North America
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- South Africa
- Saudi Arabia
- Rest of Middle East & Africa
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