The increasing number of internet users together with the advancement of communication technology supports growth of the global visible light communication market. Furthermore, growing need to enhance the shopping experience of consumers is compelling retailers to utilize technologies like visible light communication, which delivers quick and correct results. Retailers need to inform consumers about various offers on products to promote sales, which are done through use of visible light communication solutions. It is thus expected that visible light communication technology would compete with other wireless technologies like Bluetooth and Wi-Fi in the retail sector to better customer footfalls and sales.
TheGeneral Electric Company, Koninklijke Philips NV, Firefly Wireless Networks LLC., Outstanding Technology Co. Ltd, Panasonic Corporation, Fraunhofer Heinrich Hertz Institute, Nakagawa Laboratories, Inc., and Axrtek Outstanding Technology, Co., are some of the well-established companies in the global visible light communication market.
Analysts at Transparency Market Research (TMR) have prepared a report on global visible light communication market. The TMR experts elaborate on every minute detail pertaining to the growth dynamicsand predict expansion of the market at a staggering 109% CAGR during the assessment period, 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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