With 40.3% CAGR, FSO & VLC/Li-Fi Market Growth to Surpass USD 18.2 billion

The FSO & VLC/Li-Fi market is projected to grow from USD 3.3 billion in 2023 to USD 18.2 billion by 2028, registering a CAGR of 40.3% during the forecast period. Increased adoption of FSO in place of RF communication and the high emergence of new applications such as IoT and 5G drives the FSO & VLC/Li-Fi market. The growing adoption of Li-Fi in various industries will also boost the market growth in the coming years.

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Data transmission is more secure and achieves high data rates compared to conventional wireless technologies, such as Wi-Fi, Bluetooth, and Worldwide Interoperability for Microwave Access (WiMAX), which uses radio waves for communication. Light waves do not penetrate through walls; hence, they cannot be intercepted and misused. A networking speed of 100 Mbps can easily be obtained with VLC technology using LEDs. However, to compete with the existing communication technologies, VLC has to differentiate itself by providing a downloading speed of 1 Gbps or more compared to other wireless communication technologies. This can be achieved by parallel data transmission from several LEDs. This offers the opportunity of transmitting different data on each device or different groups of emitters, creating a multi-input-multi-output (MIMO) system.

Further, FSO is an alternative solution to RF for outdoor communication. The FSO technology can offer the same features as RF for long-distance communication. Hence, the overburdening of the existing RF technology acts as a driver for the FSO & VLC/Li-Fi market. Currently, this driver has a high impact on the market, and the trend is likely to remain the same for the next 2-3 years.

The rising demand from travel & immigration organizations has increased the adoption of FSO & VLC/Li-Fi technology. This is attributed to heightened security concerns. Furthermore, growing deployment in airports across the globe is driving the market growth. For instance, Hammad International Airport and Ashgabat International Airport use FSO & VLC/Li-Fi technology to accurately identify passengers while keeping them safe and healthy.

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Moreover, IoT creates a huge demand for advanced connected devices enabling M2M and interoperate with other devices according to the requirement of the connected environment. The network traffic due to the interconnection of devices is expected to grow as Internet- and cloud-based content delivery, smart grid applications, healthcare and safety monitoring, resource and inventory management, home entertainment, consumer appliances, connected transportation, and other M2M data applications are gaining wider adoption. With the evolution of the IoT, a range of devices and sensors can now communicate wirelessly over the Internet. Smart devices integrated for lighting control are bound to become more self-governing and intelligent in sharing data with building automation systems and, ultimately, the cloud. The IoT, with LED-enabled VLC modules, can provide data analytics, remote access, distributed management, collaboration, exact accuracy of intelligence, and transfer of knowledge, which are required characteristics of smart connectivity. Other advantages of VLC include zero electromagnetic interference, optimization of networks, optical transmission techniques, bandwidth congestions, and communication-related solutions.

News also Covered: https://www.prnewswire.com/news-releases/fso--vlcli-fi-market-worth-18-2-billion-by-2028---exclusive-report-by-marketsandmarkets-301719989.html

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