Overview:

The global visible light communication market is valued for more than US$ XXX.X Mn in 2019 and expected to reach a value of US$ XXX.X Mn by 2029 with a significant CAGR of around XX.X% over the forecast period of 2019-2029. Visible light communication (VLC) uses visible light to transfer the data at very high speed. It uses visible light having spectrum in between 380 nm to 750 nm i.e. 400 to 800 THz. It is a wireless method of data transmission and also referred as light fidelity (Li-Fi).

Market Dynamics:

Increasing internet penetration and rising volume of data transmission are key factors driving growth of the global visible light communication market. The increased penetration of smartphone devices and deployment of advanced internet is resulting in increased online communication and data transfer. This in turn is resulting in high demand for visible light communication technology across the globe.

In addition, growing LED deployment in various sector such as in automotive for lighting is another key factor expected to propel growth of the global market during the forecast period. Also, rising demand for LED lighting in commercial and residential sector is fueling the market growth.

Moreover, rising demand for secured network, expanding consumer electronics sector, and rising technological advancements are among the other factors expected to result in growth of the global visible light communication or light fidelity market in the near future.

Key Trends:

Growing focus on strategic tie-ups and partnerships among key players to increase the market reach and increase the sales is a key trend observed in the global visible light communication market. For example, in February 2019, Zumtobel Group, an Austria based lighting technology company has partnered with pureLiFi to conduct its new trial. In this trial the company has transferred large amount of data using LED lights. This kind of strategic initiatives are expected to support growth of the global market during the forecast period.

Regional Analysis:

For detailed understanding of market dynamics, the global visible light communication market is analyzed across key regions viz. North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The North America region dominates the global market with highest market share owing to high adoption of LED in various sectors such as farming, marine, and industrial. In addition, wide presence of key market players in the region is expected to result in strong growth of the regional market in the near future.

However, Europe is expected to hold second highest market share in the year 2019 and the target market in Asia Pacific region is expected to witness significant growth over the forecast period.

Scope of the Report:

Detailed Segmentation:

Global Visible Light Communication Market, By Component:

• Light Emitting Diodes (LEDs)
• Photodetectors
• Microcontrollers

Global Visible Light Communication Market, By Transmission Type:

• Uni-directional
• Bi-directional

Global Visible Light Communication Market, By Application:

• Retail
• Automotive & Transport
• Consumer Electronics
• Healthcare
• Aviation & Defense
• Other Application

Key Players Covered:

Key players operating in the global visible light communication market includes ByteLight, Inc., Axrtek Inc., fSona Networks Corporation, Fujitsu Ltd., General Electric Co., Lightbee Corp., Ibsentelecom Ltd., Nakagowa Laboratories, Inc., Panasonic Corp., and Qualcomm Inc.

Key Features of the Study:

Foresight Market Research provides detailed analysis on global market in our report- Global Visible Light Communication Market by component, transmission type, application, and region. The report provides market size (US$ Mn) and compounded annual growth rate (%) for the forecast period: 2019 – 2029, considering 2019 as the actual year. The report also contains in-depth analysis about market drivers, restraints, opportunities, new product launches, product approval, ongoing trends, and regional outlook. The report delivers competitive analysis about leading players in the global visible light communication market based on various parameters such as company overview, product portfolio, regional presence, financial performance, distribution strategies, key developments, marketing strategies, and future plans. The analysis from the report would acquaint the marketers and management authorities of companies to make the appropriate decision with respect to their future product launch, market expansion, and marketing tactics used overall the globe.