A recent report published by
Infinium Global Research on the visible light communication market provides
in-depth analysis of segments and sub-segments in the global as well as
regional visible light communication market. The study also highlights the
impact of drivers, restraints, and macro indicators on the global and regional
visible light communication market over the short term as well as long term.
The report is a comprehensive presentation of trends, forecasts, and dollar
values of the global visible light communication market. According to the report,
the global visible light communication market is projected to grow at a CAGR of
63.09% over the forecast period of 2020-2026.
Currently, Wireless communication
has become a utility similar to electricity, food, and water. Visual Light
Communication (VLC) or Light Fidelity (Li-Fi) is a bidirectional, high speed,
and fully networked wireless communications. VLC can be a very good complement
to RF communication (Wi-Fi or Cellular network), or can even provide as a
substitution in contexts of data broadcasting. The visible light source can be
used for both illumination as well as communication and it is capable of saving
the extra power which makes VLC a cheaper deal as compared to RF communication.
Moreover, VLC is a more secure way of communicating confidential data as light
cannot trespass through physical environments (like walls).
VLC has used a variety of wireless
network applications across various domains, namely indoor wireless communication,
safe and secure hospitals, artificial intelligence and warehouses, effectual
transportation and smart cities, innovative theme parks, human sensing,
vehicular communication, and indoor point to point communication. The provision
of high-speed connectivity in an indoor environment is the main application of
VLC. VLC is an exciting breakthrough in 5G visual light communication systems
and the future of wireless Internet access which is a major driving factor for
the market during the forecasted period. Most of the existing researches has
used RF and IR for the uplink and they have focused on the downlink to present
a strong argument to the research community about the potential of VLC
regarding applications and high data rate. Visual light communication is
frequently used as a backbone in the access network. Moreover, the enormous
availability of LED light bulbs will drive the future ubiquity of connectivity
and will provide wide opportunities to the market players. The demand for
wireless connectivity declined during the pandemic. The government lockdowns
along with concern over the spread of the disease discouraged people to go out
shopping. The lower footfall in the stores led to the lower sales of wireless
devices. Moreover, many stores were closed during the pandemic due to
government restrictions. Furthermore, many end-users of the wireless
connectivity solutions registered losses in their income during the pandemic.
Thus, these end-users were hesitant to spend on non-essential goods and
services such as wireless devices.
Among the region, the North
American Market is expected to participate heavily in the implementation of VLC
with the largest market share in 2019. North America is considered as the
largest player in the market as countries such as the U.S. and Canada
contribute significantly to the overall revenue in the market. The U.S. is a
major revenue-generating country due to the presence of a large base of
existing users in the country. North America is expected to grow rapidly in the
VLC solutions over the forecast timespan owing to the early adoption of
technically advanced products in the end-use industries. The growing
application of VLC solutions and connected devices are such factors driving the
growth of the North America VLC market.
The report on the global visible light
communication market covers segments such as transmission type, component, and
application. On the basis of transmission type, the sub-markets include
bidirectional transmission, and unidirectional transmission. On the basis of
component, the sub-markets include microcontroller, photodetector, light
emitting diode, and software. On the basis of application, the sub-markets
include consumer electronics, vehicle and transportation, hospital, street
light, smart store, defense and security, and others.
The report provides profiles of
the companies in the market such as Outstanding Technology Co. Ltd.,
LightPointe Communications Inc., Koninklijke Philips, Wireless Excellence
Limited, Lightbee Corp, Nakagawa Laboratories, Inc., Casio Computer, Fraunhofer
Heinrich, ByteLight, Inc., and PureLifi Ltd.
The report provides deep insights
into the demand forecasts, market trends, and micro and macro indicators. In
addition, this report provides insights into the factors that are driving and
restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis
given in the report brings an insight into the investment areas that existing
or new market players can consider. The report provides insights into the
market using analytical tools such as Porter's five forces analysis and DRO
analysis of the visible light communication market. Moreover, the study highlights
current market trends and provides forecasts from 2020-2026. We also have
highlighted future trends in the market that will affect the demand during the
forecast period. Moreover, the competitive analysis given in each regional
market brings an insight into the market share of the leading players.