Visible Light Communication Market is estimated to be US$ 5921.31 million by 2030 with a CAGR of 31.10% during the forecast period
Visible Light Communication Market accounted for US$ 403.00 million in 2020 and is estimated to be US$ 5921.31 million by 2030 and is anticipated to register a CAGR of 31.1%. VLC systems are being created to be used in the establishment of ultra-high-speed, secure, and biologically compatible communication networks that enable the creation and expansion of seamless computing applications. For communication purposes, such systems use modulated light wavelengths emitted by a variety of suitably adapted traditional sources, such as outdoor and indoor lighting, illuminated signs, displays, televisions, computer screens, digital cameras, and digital cameras on mobile phones, primarily through the use of Light Emitting Diodes (LEDs).
The report "Global Visible Light Communication Market, By Component (Light-emitting Diodes, Photodetectors, Microcontrollers, and Software), By Transmission Type (Unidirectional and Bidirectional), By Application (Consumer Electronics, Infrastructure, Automotive and Transportation, Defense and Security, Life Sciences, and Other Applications), and By Region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa) - Trends, Analysis and Forecast till 2030’’
· 2021 - July New LED driver ICs from On Semiconductor, the NCL31000 and NCL31001, make it easier to design solid-state lighting (SSL) products with smart-lighting feature sets that allow connection. Internet of Things (IoT) applications such as visible light communications (VLC) and indoor positioning will be supported by the LED driver ICs.
· Airbus Corporate Jets (ACJ) and Latecoere Interconnection Systems, a producer of electronic wire interconnection systems (EWIS), announced a partnership in May 2021. The cooperation will work on the Light Fidelity (Li-Fi) in-flight entertainment (IFE) monitor, which will be the first technology for next-generation communication systems developed by an aircraft manufacturer.
The growing demand for low-power green technology solutions is spurring the development of innovative communication systems. VLC is a disruptive technology that is predicted to take over a significant amount of the Wi-Fi market in the near future. However, because adoption is still in its early stages and is currently being used for niche applications, market participants would benefit from a significant R&D investment to gain a competitive advantage. Li-Fi is a disruptive technology that has the potential to affect a wide range of sectors. Industry 4.0 applications, light-as-a-service (LaaS) in the lighting industry, ITS, enhanced road safety for semi-autonomous and autonomous cars, new ways of health monitoring for ageing societies, new cyber-secure wireless networks, new solutions to close the digital divide, and high-speed wireless connectivity in future data centres are all possible with Li-Fi. Li-Fi will play a critical mediating role in the relationship between two key industries: wireless communications and lighting. Li-Fi will be a key component of growing smart cities and Industry 4.0 in the next 5–10 years, serving a wide range of applications. As a result, VLC has enormous potential to deliver all of the features and services, as well as to aid in the rapid commercialization of IoT and 5G technologies by serving as a possible access option for their applications.
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Key Market Insights from the report:
Global Visible Light Communication Market accounted for US$ 403.00 million in 2020 and is estimated to be US$ 5921.31 million by 2030 and is anticipated to register a CAGR of 31.1%. The global visible light communication market is segmented based on product, transmission, usability, application, and region.
· Based on Product, Global Visible Light Communication Market is segmented into Light-emitting Diodes, Photodetectors, Microcontrollers, and Software.
· Based on Transmission, Global Visible Light Communication Market is segmented into Unidirectional and Bidirectional.
· Based on Application, Global Visible Light Communication Market is segmented into Consumer Electronics, Infrastructure, Automotive and Transportation, Defense and Security, Life Sciences, and Other Applications.
· By Region, the Global Visible Light Communication Market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.
Competitive Landscape & their strategies of Global Visible Light Communication Market:
The key players operating the global visible light communication market involves Koninklijke Philips NV, Panasonic Corp., PureLifi Ltd., LVX System, Oledcomm SAS, Lucibel SA, IDRO Co. Ltd., Firefly Wireless Networks LLC, LightBee Corp., Renesas Electronics Corporation. Prominent players operating in the target market are focusing on strategic partnerships as well as the launching of the component to gain a competitive edge in the target market.
The market provides detailed information regarding the industrial base, productivity, strengths, manufacturers, and recent trends which will help companies enlarge the businesses and promote financial growth. Furthermore, the report exhibits dynamic factors including segments, sub-segments, regional marketplaces, competition, dominant key players, and market forecasts. In addition, the market includes recent collaborations, mergers, acquisitions, and partnerships along with regulatory frameworks across different regions impacting the market trajectory. Recent technological advances and innovations influencing the global market are included in the report.
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