The global Visible
Light Communication market garners substantial traction, witnessing rising
usages of wireless communication technology. Visible Light Communication
technology uses light for transmitting data between devices, offering a larger
spectrum of connectivity and advantages of higher bandwidth than Wi-Fi. The
technology work in environments with electromagnetic sensitivity, including
nuclear power plants, hospitals, and aircraft cabins, driving the market
demand.
Besides, rising uses in industrial and military & defense
applications substantiate the market sales. Technological advances in imaging
solutions escalate the growth of the market, improving Visible Light
Communication components & devices. According to Market Research Future
(MRFR), the global LI-FI market is poised to create an exponential valuation by
2027, growing at an impressive CAGR during the assessment period (2020 –
2027).
Advances and integration of vehicle-to-vehicle (V2V)
communication and machine learning can drive the need for Visible Light
Communication to exchange data and prevent potential accidents. Additionally,
the use of Visible Light Communication tracking fleets can bolster the market
growth providing coverage in confined areas.
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Global Visible Light Communication Market -
Segments
The report is segmented into components, applications,
end-users, and regions. The component segment is sub-segmented into LED,
optical sensing, microcontroller, photodetector, and others.
At the same time, the LED segment garners a significant
market, witnessing significant demand in industries and commercial
establishments due to their high energy output, low consumption rate, and
durability. The application segment is sub-segmented into smartphones,
standalone trackers, advance trackers, and others. The end-user segment is
sub-segmented into retail, automotive, and others.
Global Visible Light Communication Market - Regional
Analysis
North America leads the global Visible Light Communication market
owing to the high demand for energy-efficient devices and high-speed
communication technologies. Besides, the largest market share attributes to the
infrastructure and implementation of advanced technologies with better
connectivity drive the market expansion in the region.
The presence of Visible Light Communication component
manufacturers and technology development centers drives the market growth. The
region witnesses increasing adoption of machine learning technologies and
artificial intelligence, propelling the market growth.
The US and Canada are major Visible Light Communication markets
contributing to the regional market growth. Moreover, developments in LED
technology with extra shelf-life drive the region's LiFi market share. The high
demand for Visible Light Communication technology in the defense, and
commercial & industrial sectors are the major LiFi market trends.
Europe stands second in terms of the global Visible Light
Communication market revenues. The high demand for optical sensing,
microcontrollers, and photodetectors boosts the market growth, driving Visible
Light Communicatio technology deployment
in various applications. Additionally, the increasing penetration of advanced
smartphones and tracking devices substantiates the market's growth in the
region.
The rising awareness for Visible Light Communication
application areas increases the market size. Germany and the UK are major Visible
Light Communication markets in the region. The European Visible Light
Communication market is projected to create a substantial revenue pocket during
the assessment period.
The Asia Pacific region also accounts for a substantial Visible
Light Communication market share. Increased spending to strengthen defense
sectors and implementation of advanced Visible Light Communication technologies
drives the growth of the regional market. Furthermore, enormous investments in
R&D activities to develop related technologies and constant technological
upgrades propel the regional market growth. China, Japan, and India are the
emerging Visible Light Communication markets, offering significant
opportunities for industry players.
Global Visible Light Communication Market - Competitive
Analysis
Highly competitive, the light-field market appears
fragmented with the presence of several well-established players. To gain a
sizable competitive share, industry players incorporate strategic initiatives
such as mergers & acquisitions, collaboration, expansion, and product/technology
launch. Substantial investments are transpired in R&D to develop a
completely different technology compared to their competition.
Major Players:
Players leading the light-fidelity market include Panasonic
Corporation (Japan), Oledcomm (France), Koninklijke Philips N.V. (the
Netherlands), LightPointe Communications, Inc. (US), PureLiFi Limited (UK), and
LightBee Corporation (US), FSONA Networks (UK), Velmenni (Tartu), Acuity
Brands, Inc. (US), and General Electric (US), among others.
Industry/Innovation/Related News:
May 18, 2021--- Airbus Corporate Jets (ACJ)
announced its partnership with Latécoère Interconnection Systems, a leading
electronic wiring interconnection system (EWIS) supplier, to develop the
aircraft manufacturer's first Light Fidelity (Visible Light Communication)
in-flight entertainment (IFE) monitor.
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