Global Visible Light Communication Market: Increased Investment in Research and Development Activities Boosts Market in Asia Pacific

According to a recent market research report published by Transparency Market Research, the global visible light communication market is estimated to take a leap at a CAGR of 109.2% during the period between 2015 and 2022. The report, titled “Visible Light Communication Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2015 - 2022”, forecasts the global visible light communication market to be worth US$113.2 bn by 2022. The overall market was valued at US$267.6 mn in 2014.

Visible light communication technology, better known as VLC, utilizes visible light in the range of 400-800 THz as a communication medium. VLC technology implements light-emitting diodes (LEDs) from a number of sources such as monitors, indoor and outdoor lighting, television, and other consumer electronic devices for the purpose of communication. The report points out that targeted advertisement and location-based services are driving the global visible light communication market. VLC technology is biologically safe and offers higher energy efficiency and lower interference than the usual RF communication channels. These advantages have driven the adoption of VLC network across sectors such as healthcare.

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However, the report notes that technical anomalies in VLC such as non-uniformity in standardization, difficulties in transmitting and receiving at the same time with the same module, and difficulty of upgrading existing LED lighting for VLC compatibility will restrain the growth of the global visible light communication market. The overall market has a huge opportunity to grow with technological advancements. Increased use of energy-efficient LED across various applications and integration of VLC systems in connected devices will boost the market’s growth prospects during the forecast horizon.

On the basis of end-use application, the report segments the global visible light communication market into underwater communication, retail indoor positioning (location-based services), hospitality, connected devices, automobile and transport, in-flight communication/ infotainment, light-based internet, and other applications. Retail indoor positioning was the largest segment in 2014 and accounted for a 57.5% share in market revenue in 2014. In terms of data rate, the report categorizes the market into data rates up to 1 Mb/s and above 1 Mb/s. Demand for VLC units functioning at data rates up to 1 Mb/s and at distances up to 10 m dominated the market in 2014.

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The report studies the visible light communication market across five key regions: Latin America, Asia Pacific, North America, Europe, and the Middle East and Africa. In 2014, North America was the largest market for visible light communication and held a 43.4% share in the overall market revenue. However, during the forecast horizon, Asia Pacific is anticipated to be the fastest growing market for visible light communication owing to the increased investment in research and development activities in countries such as Korea, Japan, and China.

The report profiles some of the key players in the global visible light communication market such as ByteLight Inc. (Acuity Brands, Inc.), pureLiFi Ltd., Nakagawa Laboratories Inc., Axrtek, Inc., General Electric Lighting (General Electric Company), Koninklijke Philips N.V., Outstanding Technology Co. Ltd., Fraunhofer Heinrich Hertz Institute, LVX System, and Lightbee Corp.

Global Visible Light Communication Market has been segmented as:

Global Visible Light Communication Market, by End-User Application

Retail indoor positioning
Underwater communication
Hospitality
Automotive and transport
Connected devices
In-flight communication/ infotainment
Light based internet
Others

Global Visible Light Communication Market, by Data Rate

Up to 1 Mb/s
Above 1 Mb/s

Global Visible Light Communication Market, by Geography:

North America
Europe
Asia Pacific
Middle East and Africa
Latin America

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This release was published on openPR.