VLC: Key market research findings
- Growing adoption of LEDs
- Availability of high bandwidth
Technavio has released a new market research report on the global VLC market, which is expected to generate revenues of $8 billion between 2015 and 2019. Rise in demand for an alternative wireless communication technology has increased the adoption of VLCS, especially for indoor networking. This technology is a faster and cheaper optical version of Wi-Fi. The Americas is the largest revenue contributor to the global VLC market, growing at a CAGR of around 65%. Much of this region’s demand comes from the high demand for faster and safer wireless communication in the region.
The new industry research report from Technavio discusses in detail the key drivers and trends responsible for the growth of this market and its sub-segments.
“Of late, the application of LEDs are gaining traction in the VLC market, owing to their energy efficiency, longevity, and cost effectiveness. LEDs are expected to replace all fluorescent and incandescent lights in the market. Also, these allow wireless optical communication between phones, computers, sensors and other indoor devices, such as office and household applications,” says Asif Ghani, Lead Analyst, Hardware & Semiconductor, Technavio Research.
One major factor contributing enormously to the growth of the market is the availability of high bandwidth. The bandwidth frequency spectrum offered by visible light is larger than that of radio frequency bandwidth, which ensures the accommodation of more users and thereby, achieving higher transfer rates. Thus, the high bandwidth availability is expected to be the biggest attraction of this technology fuelling growth of the visible light communication market.
The leading vendors in the global VLC market include fSONA Networks, LightPointe Communications, Nakagawa Laboratories, Oledcomm-France, Outstanding Technology and pureLiFi. The rise of new opportunities in the market such as mobile companies looking to integrate the technology in their smart devices and lighting companies looking to enter the market because of its growth potential is expected to propel the long term growth of the visible light communications market during the forecast period.
A more detailed analysis is available in the Technavio report, Global VLC Market 2015-2019.
We can customize reports by other regions and specific segments upon request.
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