Press release
FSO and VLC/Li-Fi Market Landscape to 2034: Key Forces Shaping the Next Decade of Growth
FSO and VLC/Li-Fi
How Large Will the FSO and VLC/Li-Fi Market Size By 2025?
The market size of FSO and VLC/Li-Fi has witnessed a tremendous surge in the past few years. It is projected to escalate from $5.37 billion in 2024 to $7.44 billion in 2025, reflecting a compound annual growth rate (CAGR) of 38.4%. The significant growth during the historical period is due to factors such as heightened urbanization, escalating worries regarding spectrum congestion, advancements in energy-efficient technologies, amplified investments in research and development, and elevated usage of wireless sensors.
How Big Is the FSO and VLC/Li-Fi Market Size Expected to Grow by 2029?
The market size of FSO and VLC/Li-Fi is predicted to witness a rapid surge in the ensuing years, reaching a value of $27.17 billion by 2029 at a 38.2% compound annual growth rate (CAGR). The projected growth within this period is majorly due to the spread of 5G networks, the surge in adopting smart city projects, enhanced indoor wireless communication, augmented use of Li-Fi in the automotive sector, and increased demand for wireless connectivity. Factors likely to shape the market trends throughout this predicted period comprise IoT adoption, embracement of 5G, advancements in RF technology, and technological progressions.
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Which Key Market Drivers Powering FSO and VLC/Li-Fi Market Expansion and Growth?
The upswing in demand for fast-paced wireless connectivity is projected to fuel the growth of the FSO and VLC or Li-Fi market in the foreseeable future. Fast-paced wireless connectivity denotes the rapid data transmission over wireless communication channels. Multiple aspects contribute to this surge in demand, including a rise in the number of devices connected, an increase in high-bandwidth applications, and a wide-scale shift towards remote work arrangements. Free space optics (FSO) are utilized for high-speed wireless connectivity, allowing data transfer via light beams in open air, while visible light communication (VLC) or Li-Fi employs light-emitting diodes (LEDs) for data transmission via modulated light, thereby facilitating efficient and secure wireless communication. For instance, 5G Americas, an American industry trade body, reported in April 2023 that the number of 5G wireless connections across the globe stood at 1.05 billion by the end of 2022, marking a 76% increase from 2021 end. This figure is predicted to escalate to 5.9 billion by the end of 2027. Thus, the escalating demand for fast-paced wireless connectivity is propelling the FSO and VLC or Li-Fi market's growth.
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Which Fast-Growing Trends Are Poised to Disrupt the FSO and VLC/Li-Fi Market?
Prominent businesses active in the FSO, VLC or Li-Fi sector are directing their efforts towards innovating sophisticated technological solutions, like light antenna modules, to bolster communication efficacy. Light antenna modules are small, purpose-built devices intended for enabling wireless communication through the medium of light waves, often employed in technologies such as LiFi and VLC. For example, in February 2023, pureLiFi Ltd., a technology firm based out of the UK, introduced Light Antenna ONE, a LiFi module intended for hardware integration. This diminutive wireless communications antenna, measuring less than a US dime, is set to be a trailblazer in integrating LiFi into smartphones and other connected devices on a wide scale. It has been custom-made for maximum performance, compact design, cost-effectiveness, and production requirements, hence facilitating smartphone and connected device manufacturers to incorporate LiFi on a large scale seamlessly.
What Are the Emerging Segments in the FSO and VLC/Li-Fi Market?
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
Subsegments:
1) By Light Emitting Diode: Standard LEDs, High-Power LEDs, Organic LEDs (OLEDs), Micro LEDs, Other LEDs
2) By Infrared Emitters: Laser Diodes, Light Emitting Diodes (LEDs), Vertical Cavity Surface Emitting Lasers (VCSELs), Other Infrared Emitters
3) By Opto-Couplers: Phototransistor Opto-Couplers, Photometric Opto-Couplers, Photodiode Opto-Couplers, High-Speed Opto-Couplers, Other Opto-Couplers
4) By Image Sensors: CMOS Image Sensors, CCD (Charge-Coupled Device) Sensors, InGaAs Image Sensors, Other Image Sensors
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Who Are the Global Leaders in the FSO and VLC/Li-Fi Market?
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.
Which are the Top Profitable Regional Markets for the FSO and VLC/Li-Fi Industry?
North America was the largest region in the FSO and VLC/Li-Fi market in 2024. 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.
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