Free Space Optics (FSO) and Visible Light Communication (VLC)/Light Fidelity (Li-Fi) Market with COVID-19 Impact Analysis by Component (LED, Photodetector, Microcontroller, Software), Transmission Type, Application, Geography - Global Forecast to 2025

Free Space Optics (FSO) and Visible Light Communication (VLC)/Light Fidelity (Li-Fi) Market with COVID-19 Impact Analysis by Component (LED, Photodetector, Microcontroller, Software), Transmission Type, Application, Geography - Global Forecast to 2025

The overall FSO market is expected to grow from USD 402 million in 2020 to USD 1,977 million by 2025; it is expected to grow at a CAGR of 37.5% during 2020–2025. The overall VLC market is expected to grow from USD 6.8 billion in 2020 to USD 200.1 billion by 2025; it is expected to grow at a CAGR of 396.5% during 2020–2025. Key factors fueling the growth of this market include the alternative solution to overburdened RF technology for outdoor networking, last mile connectivity, faster and safer data transfer than other challenging technologies, and less energy consumption by LEDs. The demand for Li-Fi technology is increasing across the world to provide secure communications with high data bandwidth, and so on various applications such as healthcare, consumer electronics, defense, and commercial create a strong demand for FSO/Li-Fi for efficient industrial operations in the midst of COVID-19.

“Healthcare and underwater communication applications to witness the highest CAGR in FSO and VLC markets during 2020–2025.”
The FSO market for the healthcare application and VLC market for underwater communications application are expected to grow with the highest CAGR during the forecast period. 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, Underwater communications rely on acoustic technologies that limit the speeds to a fraction of terrestrial wireless systems. RF does not work underwater but visible light can support high-speed data transmission over short distances in this environment. VLC can be a safe alternative to RF communication and serve the purpose of this untapped application area.

“APAC is expected to hold a largest share of FSO and VLC market by 2025.”
APAC accounted for the largest share of the FSO and VLC by 2025. The FSO and VLC market in APAC is expected to grow at the highest CAGR during the forecast period. Increasing manufacturing facilities, advanced infrastructure, and the growing computer-aided design (CAD) industry are the factors driving the FSO market in APAC. Also, with the recent developments and increased expenditure on VLC-related R&D activities, the APAC region is expected to be the fastest-growing market for VLC during the forecast period. Similarly, end-user industries such as automotive, aerospace & defense, and consumer electronics are expected to create huge opportunities for VLC or Li-Fi solution providers.

Breakdown of profiles of primary participants:
By Company: Tier 1 = 45%, Tier 2 = 30%, and Tier 3 = 25%
By Designation: C-level Executives = 30%, Directors = 25%, Managers= 45%
By Region: North America = 45%, Europe = 30%, APAC = 20%, and RoW = 5%

Major players profiled in this report:
fSONA Networks Corp. (Canada)
Wireless Excellence Limited (UK
Signify Holding (Netherlands)
Oledcomm (France)
Lucibel (France)
pureLiFi Limited (UK)
Acuity Brands (US)
Panasonic Corporation (Japan)
Fraunhofer HHI (Germany)
Trimble Hungary (Hungry)

Research Coverage
This report offers detailed insights into the FSO market by component and application; and VLC/Li-Fi market by component, transmission type, application, and region. By component, the FSO market has been segmented into transmitter, receiver, and modulator & demodulator; the VLC market has been segmented into LED, photodetector, microcontroller, and software. By application, the FSO market has been divided into mobile backhaul, disaster recovery, enterprise connectivity, defense, healthcare, satellite, engineering and design, security, and others (redundant link, storage area network, last-mile access, and metropolitan area network); and the VLC market has been segmented into smart store, streetlight, consumer electronics, defense and security, vehicle and transportation, aviation, hospital, underwater communication, hazardous environment, and others. By transmission type, the VLC market has been segmented into unidirectional and bidirectional. The study forecasts the size of the market in 4 regions—Americas, Europe, APAC, and RoW.

Reasons to buy the report
The report would help market leaders/new entrants in this market in the following ways:
1. This report segments the FSO and VLC market comprehensively and provides the closest approximations of the overall market’s size and its subsegments (across different transmission types, components, applications, and regions).
2. The report would help stakeholders understand the pulse of the market and provide them with information about key 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 and product launches, acquisitions, and partnerships carried out by major market players.