Free Space Optics (FSO) and Visible Light Communication (VLC)/Light Fidelity (Li-Fi) Market by Component (LED, Photodetector, Microcontroller, and Software), Transmission Type, Application, and Geography - Global Forecast to 2023
“Free licensing and faster and safer data transfer are driving the FSO and VLC markets”
The free space optics (FSO) market is expected to grow from USD 0.27 billion in 2018 to USD 1.45 billion by 2023, at a CAGR of 39.58% between 2018 and 2023. This growth can be attributed to the free licensing of FSO system. As FSO uses laser for transmission purpose, there is no bandwidth deficiency and no licensing required for the allocation of bandwidth. On the other hand, the visible light communication (VLC) market is expected to grow from USD 2.56 billion in 2018 to USD 75.00 billion by 2023, at a CAGR of 96.57% between 2018 and 2023. This is because of the faster and safer data transfer capability of VLC technology than any other competing technologies. The VLC technology uses light waves that do not penetrate through walls and hence cannot be intercepted and misused.
“During the forecast period, healthcare and hazardous environment are expected to be the fastest growing application of the FSO and VLC markets”
The healthcare and hazardous environment applications for the FSO and VLC markets are expected to grow at the highest CAGR during 2018–2023. FSOs are hugely deployed in the healthcare application where wireless communication through radio waves is not allowed due to potential health hazards. On the other hand, the rapid adoption of new technologies in hazardous situations and the unavailability of any substitute for communication in it are making the hazardous environment one of the fastest-growing VLC applications.
“Software is expected to be the dominant market of VLC component, by 2023”
The software is a key component of the VLC system, and it is expected to dominate the VLC market during the forecast period. This is mainly because the two-way communication by VLC technology would allow all electronic devices to communicate with each other and would require efficient software support.
“The Americas is expected to hold the largest share of the FSO and VLC market during the forecast period”
The Americas is expected to hold the largest share of the FSO and VLC market during the forecast period. This is due to the huge investments in telecom infrastructure, government funding, and increasing military expenditure in FSO technology; and the government funding and deployment of several VLC systems in public and commercial places.
Breakdown of the profile of primary participants:
By Company Type: Tier 1 = 40%, Tier 2 = 35%, and Tier 3 = 25%
By Designation: C-Level Executives = 55%, Directors = 45%
By Region: Americas = 45%, Europe = 20%, APAC = 30%, and RoW = 5%
Key players in the FSO market are LightPointe Communications (US), fSONA Networks (Canada), Wireless Excellence (UK), Plaintree Systems (Canada), and Trimble Hungary (Hungary). Key players in the VLC market are Signify Holding (Netherlands), Oledcomm (France), Lucibel (France), pureLiFi (UK), Acuity Brands (US), General Electric (US), Fraunhofer HHI (Germany), LVX System (US), Panasonic (Japan), and IBSENtelecom (Norway).
This report includes the market statistics pertaining to FSO application and geography, and VLC component, transmission type, application, and geography, along with their respective market size.
Reasons to Buy the Report
The report would help market leaders/new entrants in the FSO and VLC market in the following ways:
1. This report segments the FSO and VLC market comprehensively and provides the closest approximations of the overall market size, as well as that of the subsegments across different applications and regions.
2. The report helps stakeholders understand the pulse of the market and provides information on key market drivers, restraints, challenges, and opportunities.
3. This report would help stakeholders understand their competitors better and gain more insights to enhance their position in the business. The competitive landscape section includes competitor ecosystem, collaborations, partnerships, product launches, expansions, acquisitions, and contracts, in the FSO and VLC market.
Learn how to effectively navigate the market research process to help guide your organization on the journey to success.Download eBook