Press release
FSO and VLC/Li-Fi Market Insights 2024 Growth, Trends And Outlook 2033
FSO and VLC/Li-Fi Market Insights
FSO and VLC/Li-Fi Global Market Report 2024 by The Business Research Company offers comprehensive market insights, empowering businesses with a competitive edge. It includes detailed estimates for numerous segments and sub-segments, providing valuable strategic guidance.
The Market Size Is Expected To Reach $19.67 billion In 2028 At A CAGR Of 38.3% :
The FSO and VLC/Li-Fi market size has grown exponentially in recent years. It will grow from $3.89 billion in 2023 to $5.37 billion in 2024 at a compound annual growth rate (CAGR) of 38.1%. The growth in the historic period can be attributed to increased urbanization, growth in concern over spectrum congestion, growth in energy-efficient technologies, increased investment in research and development, and increased use of wireless sensors.
The FSO and VLC/Li-Fi market size is expected to see exponential growth in the next few years. It will grow to $19.67 billion in 2028 at a compound annual growth rate (CAGR) of 38.3%. The growth in the forecast period can be attributed to the expansion of 5G networks, increasing adoption of smart city initiatives, expansion of indoor wireless communication, growing use of Li-Fi in automotive, and rising demand for wireless connectivity. Major trends in the forecast period include the adoption of IoT, the adoption of 5G, RF technology, and technological advancements.
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FSO and VLC/Li-Fi Market Major Segments
The FSO and VLC/Li-Fi market covered in this report is segmented -
1) By Component: Light Emitting Diode, Infrared Emitters, Opto-Couplers, Image Sensors
2) By Transmission Type: Unidirectional, Bidirectional
3) By Application: Intelligent Transportation Systems (ITS), Indoor Networking, In-Flight Entertainment And Communication, Health Care And Underwater Communication, Location-Based Services
Key Driver - The Rise Of High-Speed Wireless Connectivity In The FSO And VLC/Li-Fi Market
The increasing demand for high-speed wireless connectivity is expected to propel the growth of the FSO and VLC or Li-Fi market going forward. High-speed wireless connectivity refers to the transmission of data at rapid rates through wireless communication channels. The increasing demand for high-speed wireless connectivity can be attributed to several factors, including the growing number of connected devices, the prevalence of bandwidth-intensive applications, and the widespread adoption of remote work practices. High-speed wireless connectivity utilizes free space optics (FSO) for data transmission through beams of light in open air, while visible light communication (VLC) or Li-Fi utilizes light-emitting diodes (LEDs) to transmit data through modulated light, providing efficient and secure wireless communication. For instance, in April 2023, according to 5G Americas, a US-based industry trade organization, there were 1.05 billion 5G wireless connections worldwide by the end of 2022, up 76% from the end of 2021. By the end of 2027, that number is expected to have increased to 5.9 billion. Therefore, the increasing demand for high-speed wireless connectivity is driving the growth of the FSO and VLC or Li-Fi market.
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Prominent Trend - Advancements In Light Antenna Modules Enabling Seamless Integration Of LiFi In Connected Devices
Major companies operating in the FSO and VLC or Li-Fi market are focused on developing advanced technological solutions, such as light antenna modules, to enhance communication efficiency. Light antenna modules refer to compact devices designed to facilitate wireless communication using light waves, commonly utilized in technologies such as LiFi and VLC. For instance, in February 2023, pureLiFi Ltd., a UK-based technology company, launched Light Antenna ONE, a LiFi module made to be integrated into hardware. This wireless communications antenna, smaller than a US dime, is poised to pioneer LiFi integration into connected devices and smartphones on a large scale. It is tailored for optimal performance, compactness, affordability, and production needs, enabling smartphone and connected device manufacturers to seamlessly integrate LiFi on a large scale.
FSO and VLC/Li-Fi Market Players
Major companies operating in the FSO and VLC/Li-Fi market are Panasonic Corporation, Koninklijke Philips N.V., Signify Holding B.V., Acuity Brands Inc., LightPointe Communications Inc., SLD Laser, Visilink Technologies Inc., fSONA Networks Corporation, pureLiFi Ltd., Plaintree Systems Inc., Lucibel, SkyFiber Inc., Velmenni Research Pvt. Ltd., Infinity Technology Services Inc., Airlinx Communications Inc., VLNComm Inc., Global LiFi Tech Inc., LVX System, Oledcomm, Trimble Inc.
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Largest And Fastest Growing Region In The Market
North America was the largest region in the FSO and VLC/Li-Fi market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the FSO and VLC/Li-Fi market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The Table Of Content For The Market Report Include:
1. Executive Summary
2. FSO and VLC/Li-Fi Market Report Structure
3. FSO and VLC/Li-Fi Market Trends And Strategies
4. FSO and VLC/Li-Fi Market - Macro Economic Scenario
5. FSO and VLC/Li-Fi Market Size And Growth
…..
27. FSO and VLC/Li-Fi Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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𝗙𝗦𝗢 𝗮𝗻𝗱 𝗩𝗟𝗖/𝗟𝗶-𝗙𝗶 𝗠𝗮𝗿𝗸𝗲𝘁 𝗦𝗶𝘇𝗲:
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