Visible Light Communication Market Size, By Component (LEDs, Photodetectors, Microcontrollers, Software and Services), By Transmission, By Application (Consumer Electronics, Defense and Security, Automotive and Transportation, Public Infrastructure), Covid-19 Impact Analysis, Forecast, 2023 – 2032

Visible Light Communication Market size valued at USD 2.5 billion in 2022 and is expected to grow at a CAGR of over 35% between 2023 and 2032. Visible Light Communication (VLC) technology is used in the creation of ultra-fast, protected, and bio-friendly communication systems capable of creating and scaling seamless computing applications. The technology is a significant solution to eliminate the radio spectrum's large, crowded nature, greater latency issues, and disruptions. VLC technology has several advantages over traditional radio frequency-based networks as it increases data rates in wireless transmission and enhances network performance. VLC sources are low power and suitable for both illumination & connectivity. As a result, it is an energy-efficient system and is not impacted by electromagnetic radiations from RF systems owing to the light-based communication system. Thus, the use of VLC systems in the industrial sector is anticipated to increase due to their various advantages and applications, particularly in indoor networks.
 

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It is anticipated that the rising growth of LEDs will boost the Visible Light Communications (VLCs) market demand. LEDs have seen a shift in illumination trends from incandescent light bulbs and fluorescent lighting. VLCs are gaining significant traction in LEDs pertaining to the power-efficient system provided by a VLC that can be used for both communication and illumination. Furthermore, the demand for LED smartphones is expected to propel the demand for VLCs in the coming years. For example, according to the International Data Corporation, in 2021, around 1.3 billion LED smartphones were shipped across the globe and the growth will exceed in the upcoming period.
 

VLC systems integrate the features of optical and wireless communication systems ascribed to which its faces cyber security challenges. VLC will be highly susceptible to additional cyber-physical attacks once it establishes the infrastructure for future communication services due to the open environment communication. Injecting harmful signals into unsecured visible communications systems can have a wide range of adverse communication consequences.
 

The COVID-19 pandemic has severely impacted the day-to-day activities of numerous organizations across industries. However, attributed to the massive disruption in supply chain activities consumers have gradually shifted towards the digitization. The COVID-19 pandemic played a positive role in visible lighting communication credited to the development of wireless Li-Fi technologies. Furthermore, Integrated VLC solves the problem of load balancing in established wireless networks. Light Fidelity (Li-Fi) is a relatively new VLC technology which is suitable for wireless communication due to numerous advantages like no electromagnetic interference, high data transfer rate and low cost.
 

As transmission of data is necessitate in all significant industrial sectors across the world, the lighting sector is taking on new significant business opportunities through VLC. Furthermore, the growing per-capita income and the increasing spending on consumer electronics such as lighting are expected to boost the demand for VLC in the future. Commercial and residential lighting are rising steadily owing to illumination intensity, maintenance requirements, and low costs. As a result, VLCs have a significant opportunity in the coming period attributed to the rising commercial and residential construction across the globe.
 

The visible light communication market from light-emitting diodes segment is predicted to develop significantly through 2032. The increasing demand for greater data rates throughout the gigabit-class range has shifted attention to the consideration of LEDs as possible sources for VLC due to their unique characteristics of high modulation bandwidth, performance, and beam convergence. The presence of light-emitting diodes is expected to accelerate the market for VLC owing to the provision of energy-efficient illumination as well as a cost-effective alternative solution to the VLC transmitter with advanced modulation potential.
 

Based on transmission, the visible light communication market from bidirectional segment is expected to show tremendous growth till 2032. Bidirectional transmission increases the data rate of near-field radio frequency identification systems compared to unidirectional transmission. Several critical system problems must be considered in bidirectional designs to prevent multi-path interference. Factors including interconnectivity for both paths of transmission, power level values, and automatic power shutdown will accelerate the bidirectional segment growth.
 

With the growing population and number of vehicles on the road, traffic management is a major concern. The volume of information transferred via Wi-Fi on the street is insufficient and insecure for effective management, thus VLC is gaining traction among consumers due to secure vehicle-to-infrastructure communication. Moreover, VLC LEDs are replacing traditional head & tail lamps of vehicles owing to the low maintenance costs and provide significant visibility to avoid collisions & accidents.
 

North America visible light communication market will gain remarkable momentum during the forecast timeline, on account of increased investments in big data analytics, IoT, artificial intelligence, and renewable energy projects. This can be attributed to the increasing spending of prominent players and governments on big data analytics. Also, it is projected that the adoption of 5G technology in the region is due to the number of notable features that address the larger bandwidth, address the high rate of data transfer, reduce battery consumption, and lower latency requirements of 5G systems.
 

Prominent players in the visible light communication market are Signify Holding, Lucibel, Panasonic Corporation, LVX System, pureLIFI, ACUITY BRANDS, INC., LIFI.co, and Firefly Wireless Network LLC. The market is characterized by fierce competition with a few major players controlling a sizable industry share. As the requirement of the world's armed forces is changing, the primary focus is to produce new goods and collaborate with key players. These companies focus on mergers, acquisitions, and new product launches to expand their global presence & meet demands.
 

The visible light communication market research report includes in-depth coverage of the industry with estimates & forecast in terms of revenue in USD from 2018 to 2032 for the following segments:

Market, By Component

• Light Emitting Diodes
• Photodetectors
• Microcontrollers
• Software and Services

Market, By Transmission

• Uni-directional
• Bi-directional

Market, By Application

• Consumer Electronics
• Defense and Security
• Automotive and Transportation
• Public Infrastructure
• Life Sciences
• Other Applications

The above information has been provided for the following regions and countries:

• North America
  • U.S.
  • Canada
• Europe
  • UK
  • Germany
  • France
  • Italy
  • Spain
• Asia Pacific
  • China
  • India
  • Japan
  • South Korea
  • Southeast Asia
• Latin America
  • Brazil
  • Mexico
  • Argentina
• MEA
  • GCC
  • South Africa

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