Visible Light Communication (Li-Fi) Global Market – Overview
LiFi can be explained as a wireless optical networking technology that uses light-emitting diodes (LEDs) for data transmission. The system is designed to use LED bulbs so that energy can be saved. However, the bulbs are outfitted with a chip that modulates the light for optical data transmission. The data is transmitted by the LED bulbs and in return received by photoreceptors. Previously, the early developmental models were capable of 150 megabits-per-second. The Global Visible Light Communication Market is growing with the rapid pace; mainly due to the Technological advancements.
According to a recent study report published by the Market Research Future, The global Visible Light Communication (Li-Fi) Market is booming and expected to gain prominence over the forecast period. The Market is forecasted to demonstrate a huge growth by 2023, surpassing its previous growth records in terms of value with a whooping CAGR during the anticipated period (2017 – 2023). The global Lighting Control market is expected to reach the valuation of USD 15 Billion by registering a whooping double digit CAGR of 56% during 2017-2023.
The factors contributing to the growth of the visible light communication (Li-Fi) market are increasing adoption of various communication technology, increase in the number of internet users and growing demand for data traffic in various developed nations. Furthermore, the increasing demand for secure, fast and reliable network is boosting the growth of the of Li-Fi industry. Also, the increasing spectrum crisis has increased the data usage and has also helped the network providers to switch towards high efficiency.
Need of high speed data transmission, data security, impending RF spectrum crunch, and several technological superiorities over Wi-Fi technology majorly drives the visible light communication market.
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Visible Light Communication (Li-Fi) Global Market – Key Players
Characterized by the presence of several well-established and small players, the global Market of Visible Light Communication appears to be highly competitive. Well established players incorporate acquisition, collaboration, partnership, expansion, and technology launch in order to gain competitive advantage in this market and to maintain their market position. The Market demonstrates high growth potential which is likely to attract several new entrant in the market. Further resulting in intensified completion. Top players are investing heavily in R&D and clinical trial.
Industry News:
On 10 October 2017 Du, Philips Lighting and system integrator Vision Valley announced that together they are launching the Visible Light Communication (VLC) location-based service. The three companies signed a Memorandum of Understanding (MoU) at Gitex. Du is planning first a commercial pilot. The platform brings together the patented VLC-technology of Philips Lighting and the management platform and connected mobile apps of Vision Valley. The service provides relevant information and promotions based on the location of smartphone users, in a single mobile application.
On October 17, 2017 -- Acuity Brands, Inc. announced that LocusLabs, Inc. has joined the Atrius(TM) Internet of Things (IoT) partner ecosystem. LocusLabs plans to enable its location-as-a-service platform to take advantage of the Atrius IoT platform's location-based services (LBS) and indoor positioning services (IPS). LocusMaps, the LocusLabs indoor mapping and navigation application, powers navigation in hundreds of millions of mobile devices used at airports, retail malls, multi-floor buildings and campuses, making it easy to search, discover and navigate large, complex indoor spaces.
Visible Light Communication (Li-Fi) Market – Regional Analysis
Regionally, North-America accounted for the largest market share from countries such U.S. among others. The reason is attributed to the increasing investments for these technological solutions, adoption of these thermal management solutions by various domains and low operational cost.
U.S. Li-Fi market share is projected to grow significant pace from 2016 to 2023. The European industry is an early adopter, characterized by considerable research and product development initiatives. High demand for wireless communications across sectors where Wi-Fi cannot be employed will drive growth over the forecast timeframe.
North America dominated the market in 2015 by accounting for around 40% of the total market revenue and it is expected to maintain its dominance throughout the forecast period. This is accredited due to the presence of various research and development facilities in the region and investment for implementation of this technology by the major companies in the region. Whereas, APAC is expected to grow with a highest CAGR during the end of the forecasted period.
Visible Light Communication market is segmented on the basis of component, application and verticals.
Visible Light Communication (Li-Fi) Market – Segments
For the Better understanding of this report the Global Visible Light Communication (Li-Fi) Market has been segmented in to 4 key dynamics.
Segmentation By Component : Comprises LED, Optical Sensing, Micro controller, Photo detector and other.
Segmentation By Application : Comprises Healthcare, Media & Entertainment, IT & Telecommunications and other.
Segmentation By End User : Comprises Automotive, Indoor Networking, Aerospace & Defence, Healthcare, Underwater communication, Retail, Consumer Electronics, Transportation and other
Segmentation By Regions : Comprises Geographical regions - North America, Europe, APAC and Rest of the World.
Visible Light Communication by Component:
• Visible Light LED’s
• Diode
• Image Sensors
• R Emitters
• Opto –couplers
• Others
Visible Light Communication by Applications:
• Underwater Communications
• Location-based Services
• Indoor Applications
• Outdoor Application
• Smart Lighting
• Others
Visible Light Communication by Vertical:
• Transportation
• Automotive
• Defense
• Healthcare
• Aviation
• Others
Intended Audience
• Integrated device manufacturers (IDMs)
• Raw material suppliers
• Visible Light Communication product &device manufacturers
• System Integrators
• Technical University
• Original Equipment Manufacturers (OEM)
• Original Technology Designers and Suppliers
• Research Institutes and organization
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Table of Contents:
• 1 Market Introduction
• 1.1 Introduction
• 1.2 Scope of Study
• 1.2.1 Research Objective
• 1.2.2 Assumptions
• 1.2.3 Limitations
• 1.3 Market Structure
Continued…
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