Global Visible Light Communication/Light Fidelity Market by Component (Microcontroller, Photodetector, LED), by Application (Defense & Security, Aviation, Automotive & Transportation, Healthcare, Consumer Electronics, Retail) and Region (North America, Latin America, Europe, Asia Pacific and Middle East & Africa), Forecast To 2028

Industry Insights

In 2015, the global Visible Light Communication market (VLC/Light Fidelity) was worth USD 454.8 millions. The market is expected to grow due to rising adoption of communication technology, and an exponential rise in internet users over the forecast period. The forecast period will see an increase in data traffic from developed countries, which is expected to result in a greater adoption of the technology.

Li-Fi has grown due to growing demand for reliable, secure and fast internet. The network providers have also been forced to shift to high-efficiency and robust internet services due to the increasing spectrum crisis. VLC is unlicensed, free and secure. It can therefore address the RF spectrum crunch effect.

U.S. VLC Market Share by Application, 2013 - 2024 (USD million)

Over the next eight years, there will be a rise in awareness about indoor positioning and monitoring within the retail sector. The implementation of LED-based lighting systems in different applications, such as in-flight communication and automotive, is expected to have a significant impact on rendering drivers.

The demand for photodetector components in communication systems is expected to rise due to the increasing penetration of smartphones and high demand for mapping portals. Over the forecast period, VLC demand is expected to rise due to rising demand for real-time traffic updates.

These potential drivers can be replaced by factors like the up-gradation to a communications system of the existing lighting system. This could hinder the adoption of this technology. The industry's growth is also likely to be impeded by the absence of infrastructure for wireless technology, especially in emerging countries.

Component Insights

The market can be classified by its components, including LED, photodetector and microcontrollers. In 2015, LED-based VLCs accounted for more than 40% of the market share. They can be turned on and off to produce a digital string with binary numbers. You can encode the data in the light by using a mixture of red, green, and blue LEDs. The flickering rate can be adjusted to change the light frequency.

This component allows data to be transmitted using different parts of the spectrum. LED technology has made it possible to use light for wireless communication at high speeds.

In 2015, photodetectors made up more than 30% of the revenue share. A photodetector, such as a photodiode, is a common device that detects and detects images in the transmitted signal. The microcontrollers are used to modulate the data using different modulation techniques such as pulse width modulation, (PWM). In 2015, the microcontroller component segment was worth more than USD 95 million.

Application Insights

The study analyzed the following application sectors: retail, automotive, transport, consumer electronics and defense & security. In 2015, more than 30% of total revenue was attributed to retail applications.

VLC can be used indoors in retail stores to provide customers with the most recent promotional offers. The flickering light from fluorescent and LED lamps can be detected by smartphones, enabling indoor navigation. This component will increase customer loyalty and help retailers provide better services.

The automotive & transport segment will experience the fastest growth, growing at a CAGR exceeding 80% between 2016 and 2024. The adoption of traffic lights and LEDs will be driven by technological advancements. Market penetration will be boosted by the adoption of more parameters for traffic management and road safety, including instantaneous tracking via apps.

Regional Insights

North America's visible light communication market was responsible for more than 40% of global revenue share in 2015. This is due to the growth in applications such as horticultural, commercial, and marine lighting. The National Highway Traffic Safety Administration, Department of Transportation (DOT), mandates that LEDs be used in vehicle headlights.

Europe will be a major platform for this market's growth. The infrastructure for visible light communication systems has been established and offers tremendous potential for growth in this region.

The Asia Pacific market was valued over USD 95 millions in 2015. It is expected to experience significant growth due to the high production capacity of VLC components from countries like Japan, Korea, China.

Competitive Market Insights

VLC market share is dominated by PureLifi Ltd., Velmenni, Visilink, Oledcomm, Ibsentelecom Ltd., Lightbee Corp., and ByteLight, Inc. Wireless internet providers are focusing on improving their structures and mobile apps with increasing competition from indoor positioning-based service providers.

Axrtek Ltd., Fujitsu Ltd. General Electronic Corp. LVX System Panasonic Corp., Qualcomm Inc. and Supreme Architecture Inc. are other potential players in this market.

Up Market Research published a new report titled “Visible Light Communication/Light Fidelity Market research report which is segmented by Component (Microcontroller, Photodetector, LED), by Application (Defense & Security, Aviation, Automotive & Transportation, Healthcare, Consumer Electronics, Retail), By Players/Companies General Electronic Corp, Axrtek, Panasonic Corp, LVX System, Qualcomm Inc, Supreme Architecture Inc , Fujitsu Ltd”. As per the study the market is expected to grow at a CAGR of XX% in the forecast period.

Report Scope

The report covers comprehensive data on emerging trends, market drivers, growth opportunities, and restraints that can change the market dynamics of the industry. It provides an in-depth analysis of the market segments which include products, applications, and competitor analysis.

Global Visible Light Communication/Light Fidelity Market Report Segments:

The market is segmented by Component (Microcontroller, Photodetector, LED), by Application (Defense & Security, Aviation, Automotive & Transportation, Healthcare, Consumer Electronics, Retail).

Visible Light Communication/Light Fidelity Market research report delivers a close watch on leading competitors with strategic analysis, micro and macro market trend and scenarios, pricing analysis and a holistic overview of the market situations in the forecast period. It is a professional and a detailed report focusing on primary and secondary drivers, market share, leading segments and geographical analysis. Further, key players, major collaborations, merger & acquisitions along with trending innovation and business policies are reviewed in the report.

Key Benefits for Industry Participants & Stakeholders:

• Industry drivers, restraints, and opportunities covered in the study
• Neutral perspective on the market performance
• Recent industry trends and developments
• Competitive landscape & strategies of key players
• Potential & niche segments and regions exhibiting promising growth covered
• Historical, current, and projected market size, in terms of value
• In-depth analysis of the Visible Light Communication/Light Fidelity Market

Overview of the regional outlook of the Visible Light Communication/Light Fidelity Market:

Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa (MEA). North America region is further bifurcated into countries such as U.S., and Canada. The Europe region is further categorized into U.K., France, Germany, Italy, Spain, Russia, and Rest of Europe. Asia Pacific is further segmented into China, Japan, South Korea, India, Australia, South East Asia, and Rest of Asia Pacific. Latin America region is further segmented into Brazil, Mexico, and Rest of Latin America, and the MEA region is further divided into GCC, Turkey, South Africa, and Rest of MEA.

Highlights of The Visible Light Communication/Light Fidelity Market Report:

1. The market structure and projections for the coming years.
2. Drivers, restraints, opportunities, and current trends of Visible Light Communication/Light Fidelity Market.
3. Historical data and forecast.
4. Estimations for the forecast period 2028.
5. Developments and trends in the market.

                1. Microcontroller

                2. Photodetector

                3. LED

                1. Defense & Security

                2. Aviation

                3. Automotive & Transportation

                4. Healthcare

                5. Consumer Electronics

                6. Retail

8. Market scenario by region, sub-region, and country.
9. Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
10. Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
11. Government Policies, Macro & Micro economic factors are also included in the report.

We have studied the Visible Light Communication/Light Fidelity Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2028.

How you may use our products:

• Correctly Positioning New Products
• Market Entry Strategies
• Business Expansion Strategies
• Consumer Insights
• Understanding Competition Scenario
• Product & Brand Management
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• Identifying Appropriate Advertising Appeals

Reasons to Purchase the Visible Light Communication/Light Fidelity Market Report:

• The report includes a plethora of information such as market dynamics scenario and opportunities during the forecast period
• Segments and sub-segments include quantitative, qualitative, value (USD Million,) and volume (Units Million) data.
• Regional, sub-regional, and country level data includes the demand and supply forces along with their influence on the market.
• The competitive landscape comprises share of key players, new developments, and strategies in the last three years.
• Comprehensive companies offering products, relevant financial information, recent developments, SWOT analysis, and strategies by these players.