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Visible Light Communication Market (Transmission Type - Bidirectional Transmission, and Unidirectional Transmission; Component - Microcontroller, Photodetector, Light Emitting Diode, and Software; Application - Consumer Electronics, Vehicle and Transportation, Hospital, Street Light, Smart Store, Defense and Security, and Others): Global Industry Analysis, Trends, Size, Share and Forecasts to 2026

  • Published : April, 2021

  • Rep Id : ICT1381

  • Category : Electronics, ICT and Semiconductors

  • Status : Published

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.


Visible Light Communication Market

 

Market Insight

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.

 

Segment Covered

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.

 

Companies Profiled:

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.

 

Report Highlights:

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.


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