Global Visible Light Communication Market
Visible Light Communication Market
The market has been estimated at USD 387.5 million in 2015 and is forecasted to grow at a CAGR of 94.55% over the forecast period to reach USD 10.81 billion by the end of 2020. VLC is a part of optical wireless communication (OWC) technology which utilizes the visible light source as a signal transmitter, air as a transmission medium and an appropriate photodiode as a signal receiving component. VLCs are basically introduced as a complementary technology for Wi-Fi, Bluetooth, and WiMAX.
VLC uses light emitting diodes (LEDs) as the source of light because of their light emitting capability in a visible range. The various applications of this market include indoor communication, inflight entertainment/infotainment, underwater communications, transport & automotive, location-based services such as navigation and intelligent traffic management systems with real-time traffic updates making use of LEDs incorporated in traffic lights.
Major drivers for the growth of this market are the constraints in the spectrum and bandwidth crunch caused by an increased data usage. The features of VLCs such as free of cost, high speed, safety, reliability and unlicensed network also drive the organizations and end users to opt for this technology. As the adoption of LEDs in a wide range of applications grows, the feature of communication serves as added advantage, playing a vital factor for growth. In spite of these drivers, lack of proper infrastructure for wireless technology in emerging markets and not considering an upgrade from existing lighting to communication-based systems may act as major restraints for this market.
In this report, the global VLC market is segmented by data rate offered, a distance of coverage, communication type, end user and geography. There are two types of data rates that are offered currently in the market which include data rate up to 1 Mb/s and above 1 Mb/s, of which up to 1 Mb/s data rate is expected to have the highest market share. Based on the distance of coverage offered by different VLCs, they are classified into up to 10m and above 10m, of which up to 10m is estimated to have the highest market share. The communication segment can be further classified into uni-directional and bi-directional. The end users of this market include retail, automotive & transportation, consumer electronics, healthcare and security, defense & aviation of which retail market has approximately 30% of the share in 2015 and automotive & transportation sector is estimated to grow at the fastest rate for the forecast period.
Based on the geographical coverage, the market is segmented into five main regions which include North America, Europe, Asia Pacific, Latin America and Middle East & Africa of which North America is estimated to have 40% market share in 2015 with Europe having a great potential for growth because of its LED use. APAC is estimated to have shown significant growth with an added advantage of the high manufacturing capacity of VLCs in Japan, Korea, and China.
Some of the key players observed in this market are:
byte Light Inc (Acuity Brands, Inc)
GE Lighting (GE Company)
Koninklijke Philips N.V
Light Bee Corp.
Outstanding Technology Co. Ltd
Renesas Electronics Corp
Key Deliverables of the Study
Market definition global visible light communication market along with identification of key drivers and restraints for the market.
Market analysis for the global VLC market, with region specific assessments and competition analysis on a global and regional scale.
Identification of factors instrumental in changing the market scenario, rising prospective opportunities and identification of key companies which can influence the market on a global and regional scale.
Extensively researched competitive landscape section with profiles of major companies along with their strategic initiatives and market share.
Identification and analysis of the macro and micro factors that affect the global VLC market on both global and regional scale.
A comprehensive list of key market players along with the analysis of their current strategic interests and key financial information.