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FSO and VLC/Li-Fi Market Opportunities, Strategies, Size, Share And Analysis 2024-2034
FSO and VLC/Li-Fi Market Opportunities
According to The Business Research Company's, 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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Market Drivers and Trends:
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.
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.
Key Benefits for Stakeholders:
• Comprehensive Market Insights: Stakeholders gain access to detailed market statistics, trends, and analyses that help them understand the current and future landscape of their industry.
• Informed Decision-Making: The reports provide crucial data that support strategic decisions, reducing risks and enhancing business planning.
• Competitive Advantage: With in-depth competitor analysis and market share information, stakeholders can identify opportunities to outperform their competition.
• Tailored Solutions: The Business Research Company offers customized reports that address specific needs, ensuring stakeholders receive relevant and actionable insights.
• Global Perspective: The reports cover various regions and markets, providing a broad view that helps stakeholders expand and operate successfully on a global scale.
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Major Key Players of the Market:
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.
FSO and VLC/Li-Fi Market 2024 Key Insights:
• 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 Rise Of High-Speed Wireless Connectivity In The FSO And VLC/Li-Fi Market
• Advancements In Light Antenna Modules Enabling Seamless Integration Of LiFi In Connected Devices
• North America was the largest region in the FSO and VLC/Li-Fi market in 2023
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Learn More About The Business Research Company
The Business Research Company (www.thebusinessresearchcompany.com) is a leading market intelligence firm renowned for its expertise in company, market, and consumer research. With a global presence, TBRC's consultants specialize in diverse industries such as manufacturing, healthcare, financial services, chemicals, and technology, providing unparalleled insights and strategic guidance to clients worldwide.
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Contact Us:
The Business Research Company
Europe: +44 207 1930 708
Asia: +91 88972 63534
Americas: +1 315 623 0293
Email: info@tbrc.info
Follow Us On:
LinkedIn: https://in.linkedin.com/company/the-business-research-company
Twitter: https://twitter.com/tbrc_info
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ
Learn More About The Business Research Company
The Business Research Company (www.thebusinessresearchcompany.com) is a leading market intelligence firm renowned for its expertise in company, market, and consumer research. With a global presence, TBRC's consultants specialize in diverse industries such as manufacturing, healthcare, financial services, chemicals, and technology, providing unparalleled insights and strategic guidance to clients worldwide.
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𝗙𝗦𝗢 𝗮𝗻𝗱 𝗩𝗟𝗖/𝗟𝗶-𝗙𝗶 𝗠𝗮𝗿𝗸𝗲𝘁 𝗦𝗶𝘇𝗲:
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