NEW YORK, Oct. 7, 2024 /PRNewswire/ — Report on how AI is driving market transformation- The global visible light communication market size is estimated to grow by USD 316.02 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of almost 89.62% during the forecast period. Growing penetration of process automation in industries is driving market growth, with a trend towards vlc-based 5g network. However, the dominance of competing technologies poses a challenge. Key market players include Acuity Brands Inc., Firefly Networks Ltd., Fortive Corp., Fraunhofer Gesellschaft, fSONA Systems Corp., General Electric Co., Koninklijke Philips N.V., Latecoere, LightBee SL, Lucibel SA, nextLiFi, Oledcomm, Panasonic Holdings Corp., pureLiFi Ltd., Qualcomm Inc., Renesas Electronics Corp., Signify NV, To Be Srl, Viavi Solutions Inc., and VLNComm Inc..
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Forecast period
2024-2028
Base Year
2023
Historic Data
2018 – 2022
Segment Covered
Application (Indoor networking, LBS, ICE, and Underwater communication), End-user (Retail, Consumer electronics, Automotive and transportation, Healthcare, and Others), and Geography (North America, APAC, Europe, South America, and Middle East and Africa)
Region Covered
North America, APAC, Europe, South America, and Middle East and Africa
Key companies profiled
Acuity Brands Inc., Firefly Networks Ltd., Fortive Corp., Fraunhofer Gesellschaft, fSONA Systems Corp., General Electric Co., Koninklijke Philips N.V., Latecoere, LightBee SL, Lucibel SA, nextLiFi, Oledcomm, Panasonic Holdings Corp., pureLiFi Ltd., Qualcomm Inc., Renesas Electronics Corp., Signify NV, To Be Srl, Viavi Solutions Inc., and VLNComm Inc.
Key Market Trends Fueling Growth
Visible Light Communication (VLC) is a significant component of 5G technology, utilizing LED bulbs to transmit data at high speeds. This innovation offers dependable, super-fast connectivity, reaching up to 10 Gbps – 250 times faster than existing high-speed broadband. VLC’s major advantage lies in its ability to provide reliable connectivity in areas where Wi-Fi fails, such as airplanes, submarines, hospitals, and nuclear power stations. China is planning to operate a fully functional VLC-based 5G network for the Winter Olympics in 2022. The increasing adoption of LED bulbs and the growing potential for smart city applications will fuel the market’s growth. Opportunities include downloading traffic information from traffic lights or program guides from TVs. The affordability, reliability, and security of VLC make it an attractive alternative to Wi-Fi infrastructure. Consequently, the market for visible light communication-based 5G networks is expected to expand during the forecast period.
The Visible Light Communication (VLC) industry is experiencing significant growth, driven by trends in various sectors. Small Local Area Networks (LAN) and smart lighting systems are integrating VLC technology for energy-efficient data transmission. In retail, smart stores use VLC for contactless payments and inventory management. Smartphones and VR headsets are adopting VLC for high-speed data transfer, eliminating the need for Wi-Fi, WiMAX, 3G systems, and 5G. VLC is also being used in underwater communication, traffic lights, streetlights, and trees for efficient data transfer. Unidirectional VLC is being used in industries like aerospace, automotive, and autonomous vehicles for bidirectional transmission. VLC sources like white LEDs and blue LEDs are powering this technology. The future holds promise with the adoption of Li-Fi, bidirectional VLC technology, battery-free duplex communication, voice-only traffic, and big data analytics. VLC receivers and sources are being used in various industries, including backhaul carrier technologies, making VLC a game-changer in wireless networks.
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Market Challenges
The market for Visible Light Communication (VLC) technology is currently experiencing modest growth due to the dominance of Wi-Fi and WiMAX technologies in various sectors. These traditional technologies have provided reliable and efficient network connectivity for decades, enabling the implementation of smart systems in homes, transportation, manufacturing, and energy management. Smart systems, such as smart homes, connected cars, and smart grids, have gained significant traction with the advent of high-speed internet services from leading providers like AT&T, Comcast, Sprint, and Verizon. However, the widespread adoption of these systems relies heavily on wireless connectivity, including Wi-Fi. Advanced low-power communication technologies, like ZigBee and Z-Wave, have also emerged to support the efficient operation of smart systems. While VLC technology offers unique advantages, such as energy efficiency and privacy, its market growth is somewhat restrained due to the established presence of Wi-Fi and WiMAX technologies. Consequently, the global VLC market expansion is anticipated to be influenced by the ongoing dominance of these competing technologies during the forecast period.The Visible Light Communication (VLC) market is experiencing significant growth due to its potential as a cost-effective technique for high-speed data services in various major verticals like consumer electronics and IoT. However, challenges exist. One major challenge is the initial expenses for hardware installation, especially in comparison to RF communication. Another challenge is reliability issues caused by environmental interferences such as fog, scattering, and scintillation. Cyber security is also a concern due to the use of electromagnetic radiations. Energy consumption is a key consideration, making energy-efficient systems essential. The highest demand comes from sectors like hospitals and indoor navigation systems. VLC’s largest share is currently held by Li-Fi (Light Fidelity) using LED lights, but microlaser diodes and fiber-based Ethernet are also contenders. Frequency bandwidth is a limitation, with 4G outperforming VLC in terms of data rates. Mobile operators and network service providers are exploring VLC as an alternative to fiber-optic lines and Ethernet-based network solutions. Despite these challenges, the VLC market is expected to grow, driven by the demand for energy-efficient, high-speed data services.
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Segment Overview
This visible light communication market report extensively covers market segmentation by
Application 1.1 Indoor networking1.2 LBS1.3 ICE1.4 Underwater communicationEnd-user 2.1 Retail2.2 Consumer electronics2.3 Automotive and transportation2.4 Healthcare2.5 OthersGeography 3.1 North America3.2 APAC3.3 Europe3.4 South America3.5 Middle East and Africa
1.1 Indoor networking- The indoor networking segment of the Visible Light Communication (VLC) market is experiencing significant growth due to the adoption of VLC technology by retail and hospitality industries. VLC offers advantages over traditional wireless technologies like Wi-Fi, such as higher data transfer rates and immunity to electromagnetic interference, making it ideal for crowded and sensitive environments. With the increasing use of Internet of Things (IoT) devices and smart building systems, the need for efficient and reliable communication networks is growing. VLC’s ability to provide seamless connectivity between IoT devices, sensors, and control systems using existing LED lighting infrastructure is driving its adoption. In smart office environments, VLC enables data transmission between sensors for occupancy monitoring, environmental control systems, and lighting management, optimizing energy usage and enhancing workplace productivity. Indoor positioning systems can accurately track and locate assets, individuals, and devices within a building using VLC-enabled LED luminaires, improving operational efficiency and enhancing user experience. In retail environments, VLC-based indoor positioning systems can enable personalized shopping experiences, location-based promotions, and wayfinding assistance for customers. The convergence of these factors will fuel the growth of the indoor networking segment in the global VLC market during the forecast period. Major lighting manufacturers like GE and Philips have shown interest in this technology, further boosting its adoption.
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Research Analysis
The Visible Light Communication (VLC) market is an emerging technology that utilizes Li-Fi (Light Fidelity) to transmit data using visible light instead of radio waves like Wi-Fi. VLC is gaining popularity due to its ability to provide high-speed, energy-efficient, and secure communication. Indoor navigation systems and battery-free duplex communication are some of the key applications. VLC receivers can be integrated into consumer electronics like smartphones, making them an attractive alternative to RF technology. VLC sources include LEDs, which are widely used in smart lighting systems. The digitization of various industries and the increasing adoption of IoT and 5G are driving the growth of the VLC market. However, challenges such as cyber security concerns and the need for specialized VLC receivers remain. FSO (Free Space Optics) is another competing technology, but VLC offers the advantage of using existing light sources and is less susceptible to electromagnetic radiations.
Market Research Overview
The Visible Light Communication (VLC) market is experiencing significant growth due to the adoption of Li-Fi (Light Fidelity), a wireless communication technology that utilizes visible light instead of radio frequencies. VLC uses LED lights as sources and can provide high-speed data services, making it an attractive alternative to traditional RF-based networks. The technology is finding applications in major verticals such as aerospace, automotive, consumer electronics, hospitals, and IoT. VLC offers several advantages, including energy efficiency, cost-effectiveness, and reliability, making it a promising solution for various industries. However, initial expenses for installation and potential reliability issues due to environmental interferences such as fog, trees, and scattering are challenges that need to be addressed. The VLC market is expected to see the highest demand from consumer electronic devices, smartphones, smart lighting systems, and autonomous vehicles. VLC technology can also be used for underwater communication and in industries where RF communication is not feasible or desirable. The market is expected to grow significantly in the coming years due to the digitization of various industries and the need for high-bandwidth, energy-efficient systems. VLC technology can also be used in conjunction with other backhaul carrier technologies to provide bidirectional transmission and data rates that rival or surpass those of 3G and 5G systems. The use of bidirectional VLC technology and battery-free duplex communication can further enhance the capabilities of VLC systems. The VLC industry is also exploring the use of AI and Big Data analytics to optimize network performance and improve cyber security. The market is expected to see significant growth in the coming years due to its potential to provide high-speed, energy-efficient, and cost-effective communication solutions for various industries.
Table of Contents:
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation
ApplicationIndoor NetworkingLBSICEUnderwater CommunicationEnd-userRetailConsumer ElectronicsAutomotive And TransportationHealthcareOthersGeographyNorth AmericaAPACEuropeSouth AmericaMiddle East And Africa
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix
About Technavio
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.
With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
Contacts
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/
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SOURCE Technavio
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