Visible Light Communication Market 2021 Competitive Insights and Global Developments- Koninklijke Philips NV, LVX System, Bytelight Inc., Oledcomm

The Visible Light Communication Market report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.

The visible light communication market was valued at USD 24.02 billion in 2019 and it is expected to reach a value of USD 787.16 billion by 2025 at a CAGR of 101% over the forecast period (2020-2025).

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Competitive Landscape:

Top Companies: Koninklijke Philips NV, LVX System, Bytelight Inc. (A Acuity BrandÕs Company), Panasonic Corporation, Purelifi Ltd, Oledcomm, Lucibel SA, Outstanding Technology Co. Ltd, Axrtek, Firefly Wireless Networks LLC

Market Overview:

This technology will eliminate the need for other wireless technologies, such as Infrared (IR), Bluetooth, and Wi-Fi which emit Electromagnetic interference (EMI) and RF waves that are harmful to both instruments/devices and humans. However, the market is currently in the emerging phase, and prototypes are being developed.
- The primary driver behind the growth of the high-speed VLC is the rapidly growing presence of LEDs in practically every signalling or illumination entity. By as early as 2020, the majority of new energy-efficient lighting installations are expected to be LED-based. Consequently, these bulbs can transmit at high speeds that were not possible with conventional light bulb technologies such as fluorescent and incandescent lamps. According to a research, the global LED penetration in the lighting market is estimated to reach 61% in 2020.

Scope of the Report
Visible Light Communication(VLC) systems are being developed to be used for creating ultra high-speed, secure, and biologically friendly communication networks that allow the creation and expansion of seamless computing applications. Such systems use modulated light wavelengths emitted by a variety of suitably adapted conventional sources, such as outdoor and indoor lighting, illuminated signs, displays, televisions, computer screens, digital cameras, and digital cameras on mobile phones for communication purposes, majorly through the use of Light Emitting Diodes (LEDs).

Industry News and Updates:

- March 2019 - Panasonic Corporation featured its portfolio of 4K visual technologies, enterprise media solution, self-service kiosk and customized digital signage solutions at the Digital Signage Expo at the Las Vegas Convention Center in Las Vegas.
- December 2017 - LVX Systems and VeroGuard Systems, a secure digital identity platform provider, partnered to jointly market LVXs industry leading smart building/campus/city IoT experience, capability and credentials with VeroGuards world leading cyber security solution. This partnership will lead to the development of the product which could be safely used for smart city programs preventing cyber threats.
- October 2017 - Panasonic Corporation acquired Arimo, a deep-learning innovator, to accelerate the growth of its AI/IoT-based solution businesses. The company also benefited from this acquisition, as an opportunity to develop its visible light communication product line up, by enhancing interface and development by integrating AI to further improve consumer experience gaining a larger market share in the market.

Key Market Trends:

North America expected to account for the Largest Market Share
- North America is the most prominent market for VLC due to increasing investment in R&D in advanced technological solutions, such as artificial intelligence, sustainable energy projects, and big data analytics. The major wireless network providers in the region, such as Telus Corp, Rogers Communications Inc., and BCE Inc.s Bell Mobility are investing heavily in R&D activities in VLC, along with 5G technology to increase their market share among the wireless and internet service providers. The implementation of Li-Fi technology is expected to boost the US economy and aid in the economic growth and create job opportunities.
- The United States is the most prominent market for VLC technology, owing to increasing investments in R&D in advanced technological solutions, such as artificial intelligence, sustainable energy projects, and Big Data analytics. The United States is the first country to install 5G wireless networks, making the country the global test bed for LTE services and apps.

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What are the market influences that are explained in the report?

-Key Strategic Developments: The study also includes the key strategic developments of the market, comprising R&D, new product launch, M&A, agreements, collaborations, partnerships, joint ventures, and regional growth of the leading competitors operating in the market on a global and regional scale.

-Key Market Features: The report evaluated key market features, including revenue, price, capacity, capacity utilization rate, gross, production, production rate, consumption, import/export, supply/demand, cost, market share, CAGR, and gross margin. In addition, the study offers a comprehensive study of the key market dynamics and their latest trends, along with pertinent market segments and sub-segments.

-Analytical Tools: The Global Visible Light Communication Market report includes the accurately studied and assessed data of the key industry players and their scope in the market by means of a number of analytical tools. The analytical tools such as Porter’s five forces analysis, SWOT analysis, feasibility study, and investment return analysis have been used to analyze the growth of the key players operating in the market.

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