The visible light communication (VLC) market is expected to grow at a CAGR of 62.9% between 2017 and 2022, to reach USD 14.91 Billion by 2022 from USD 1.30 Billion in 2017. The factors driving the Visible Light Communication Market include faster and safer data transfer than other competing technologies; RF spectrum bandwidth crunch; no bandwidth limitation and less energy consumption; and greener, cleaner, and safer technology.
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According to the new market research report on the "Free Space Optics (FSO) and Visibl…tion (VLC) Market by Component (LED, Photo Detector, Microcontroller, and Software), Transmission Type (Unidirectional and Bidirectional), Application, and Geography - Global Forecast to 2022", the FSO market is expected to grow at a CAGR of 41.4% between 2017 and 2022, to reach USD 1,198.9 Million by 2022 from USD 212.4 Million in 2017. The FSO market is majorly driven by the factors such as last mile connectivity, free licensing of FSO, and alternative solution for overburdened RF technology for outdoor networking.
The VLC market is expected to grow at a CAGR of 62.9% between 2017 and 2022, to reach USD 14.91 Billion by 2022 from USD 1.30 Billion in 2017. The major factors driving this growth are faster and safer data transfer than other competing technologies; RF spectrum bandwidth crunch; no bandwidth limitation and less energy consumption; and greener, cleaner, and safer technology.
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Browse 90 market data tables and 63 figures spread through 190 pages and in-depth TOC on “Free Space Optics (FSO) and Visible Light Communication (VLC) Market - Global Forecast to 2022"
Mobile backhaul and smart stores applications hold the largest share of the FSO & VLC markets, respectively
The mobile backhaul application of FSO held the largest market share of the overall FSO market, whereas the smart stores application of VLC held the largest market share of the overall VLC market in 2016. As the mobile backhaul application was the early adopter of FSO technology, it holds the largest market share.
On the other hand, as smart stores were the early adopters of VLC technology, they hold the largest share of the overall VLC market in 2016 and the trend for smart stores is expected to continue till the commercialization of bidirectional VLC applications.
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Software is expected to be the fastest-growing component of the VLC market
The software component of the VLC technology market is expected to grow at the highest rate between 2017 and 2022. This is mainly due to the expected advent of two-way communication by the end of 2022, which would increase the installation of software as it would help to operate and control many applications and allow them to be enabled on phones, tablets, and many other platforms.
The photo detector market closely follows the software market and is expected to grow at the second-highest rate during the forecast period. This is due to the requirement of almost equal amount of receivers as transmitters in the overall VLC system.
Americas is the major consumer of FSO & VLC
The Americas region held the largest share of the FSO and VLC market in 2016. The huge investments in telecom infrastructure, government funding, and increasing military expenditure are the major reasons for the largest share of the FSO market in this region.
In line with this, the government funding and deployment of several VLC systems in public as well as commercial places are the factors making the Americas a major consumer of VLC.
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The report profiles the most promising players in the FSO & VLC market. The competitive landscape of the market is highly dynamic due to the presence of a significant number of big and small players.
The key players in the FSO market are LightPointe Communications, Inc. (U.S.), fSONA Networks Corp. (Canada), Plaintree Systems Inc. (Canada), Wireless Excellence Ltd. (U.K.), and Trimble Hungary Kft. (Hungary), among others. The key players in VLC market include Koninklijke Philips N.V. (Netherlands), General Electric Co. (U.S.), ByteLight, Inc. (Acuity Brands, Inc.) (U.S.), Panasonic Corp. (Japan), LVX System (U.S.), Oledcomm (France), pureLiFi Ltd. (U.K.), LightBee Corp. (Spain), Outstanding Technology Corp. (Japan), IBSENtelecom (Norway), and Supreme Architecture Inc. (U.S.), among others.
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