Visible Light Communication Market size is anticipated to register substantial gains up to 2027 led by the increasing penetration of LEDs. The number of new as well as retrofit LED installations is surging as LEDs are a highly energy efficient source of illumination. VLC systems powered by LEDs are gradually replacing existing wireless communication technologies such as wi-fi, Bluetooth, and infrared (IR) which emit radiofrequency (RF) waves and cause electromagnetic interference (EMI), both of which can harm human health and connected devices.
Next-generation VLC systems are being designed for creating ultrahigh-speed communication networks that enable seamless computing workflows. These systems rely on modulated light waves emitted by indoor and outdoor lighting, illuminated signs, televisions, computer screens, displays, digital cameras, and other sources for communication.
During the forecast period 2021-2027, visible light communication industry share form automotive & transportation applications is expected to grow rapidly. VLC technology has immense potential in modern traffic management systems which are facing a series of challenges due to the increasing number of on-road vehicles. Moreover, the technology can improve pedestrian safety by enabling real-time communication between street lights and the pedestrian’s VLC-equipped smartphone.
Most vehicle lights and traffic signal lights are being replaced with LEDs. VLC technology has the capability to improve anti-collision systems which rely on the exchange of real-time data between vehicles. New applications of visible light communication in the automotive & transportation sector will continue to emerge, creating a favorable outlook for the market in the future.
In terms of the regional landscape, the Asia Pacific VLC market is projected to witness exponential growth through 2027. The regional growth trends can be attributed to the growing number of LED installations in industrial and commercial settings. LEDs are also slowly replacing headlights and taillights of vehicles as well as traffic signal lights. The aforementioned factors along with the increasing adoption of location-based services will positively influence regional visible light communication market outlook.
General Electric Company, Outstanding Technology Co. Ltd., Koninklijke Philips, Supreme Architecture Inc., Nakagawa Laboratories, Inc., (Acuity Brands, Inc.), Gallium Lighting LLC, LVX System, Fsona Networks Corp., PureLifi Ltd, Fraunhofer Heinrich, Casio Computer, Lightbee Corp, Wireless Excellence Limited, LightPointe Communications Inc., and Axrtek are among the notable players in the VLC industry.
Market players are adopting different growth and expansion strategies such as acquisitions, mergers, and partnerships to expand their market presence. Expansion of production capacity and product innovation are also key approaches adopted by many companies. For example, in December 2019, Acuity Brands Inc., the parent company of ByteLight, Inc., had acquired LocusLabs, an indoor mapping specialist. With this deal, Acuity had managed to accelerate the development of indoor mapping systems using a network of LEDs based on visible light communication, Bluetooth, or both.
During COVID-19, VLC industry trends have been affected by the pandemic’s impact on end-use sectors including automotive & transportation, inflight infotainment & communications, and hospitality. Due to nationwide lockdown restrictions and other government measures across countries enforced to curb the spread of the coronavirus, traffic management system upgradation projects had been forced to shut down temporarily. Additionally, the overall economic slowdown caused by the pandemic has impacted the industry growth.
However, these impacts are likely to be temporary and the visible light communication market is expected to gain momentum in the forthcoming years.