Press release
Visible Light Communication Market: Benefits Over Wi-Fi Doubles the Market Growth!
The report states that the global visible light communication market is expected to represent an opportunity worth US$113.27 bn by 2022, rising remarkably from its 2014 valuation of US$267.6 mn. Between 2015 and 2022, the global visible light communication market is anticipated to expand at a CAGR of 109.2%. Amongst various end users, the retail indoor positioning segment held the leading position in the overall market and is expected to surge at a CAGR of 93.82% from 2015 and 2022.
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Key Takeaways:
Global visible light market to reach US$113.27 bn by 2022 as demand for location-based services grows
Retail indoor positioning segment to emerge as the significant one, progressing at a CAGR of 93.82% between 2015 and 2022
North America holds a prime share in the global VLC market and is anticipated to reach a valuation US$47.88 bn by 2022
North America Leads the Way with Strong Presence of VLC Players
Geographically, the global visible light communication market is segmented into North America, Europe, Asia Pacific, the Middle East and Africa, and Latin America. Out of these, the North America visible light communication market is expected to exhibit a CAGR of 108.65% between 2015 and 2022. The presence of leading players who are working towards high product innovation has resulted in the growth of this regional market in recent years. By the end of 2022, the North America visible light communication market is expected to reach US$47.88 bn.
Benefits of Visible Light Communication over Wi-Fi Drive Global Market
The rise of the retail indoor positioning market due to high traffic from the occupants and better illumination has paved the way of growth of the visible light communication market. The benefits of visible light communication over Wi-Fi, such as no additional infrastructure and higher accuracy, are also augmenting the growth of this market. The demand by retailers to send instant notifications to customers to enhance the shopping experience and increase sales is also anticipated to boost this market. This trend will lead to an uptake of retail indoor positioning, thereby encouraging the growth of the global visible light communication market.
View Report at http://www.transparencymarketresearch.com/visible-light-communication-market.html
The increasing investments in the research and development of new products have also bolstered the global market in the recent years. These efforts have introduced products that overcome the challenges of VLC technology and promoted commercialization. The emergence of visible light communication start-ups has also given this market a significant momentum.
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