According to a new market research report, “Global Visible Light Communication Market (VLC) & Li-Fi Technology, Free Space Optics (FSO)- 2013-18): By Component (LED, Image Sensor), Application (Indoor Networking, Underwater Communication, Location Based Service, Intelligent Traffic Systems)” published by MarketsandMarkets (www.marketsandmarkets.com), Visible Light Communication (VLC)/Li-Fi Technology market is expected to reach $6,138.02 million by 2018 with an estimated CAGR of 82% from 2013 to 2018 and FSO technology market $2,965.82 million by 2018 with an estimated CAGR of 29.3% from 2013 to 2018
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VLC/Li-Fi is presently the buzzword in the communication (internet) industry. Optical wireless communication networks like VLC/Li-Fi and FSO are going to be introduced in the market as complementary technologies for Wi-Fi, Bluetooth, wimax etc. VLC/Li-Fi uses visible light as a medium of communication,whereas FSO uses IR spectrum. It provides high speed and securecommunication as compared to Wi-Fi, Bluetooth or wimax which use RF band for communication. With the bandwidth crunch caused by increased data usage, network providers are turning to alternatives like VLC/Li-Fi and FSO to relieve the internet traffic.
Last mile connectivity and high speed network speed are important drivers of the VLC/Li-Fi market. Growth in the LED industry is expected to boost the VLC market. Low reliability and high installation costs are expected to the major threats for the VLC market. Along with market dynamics like drivers, restraints, and opportunities, the report also gives insight to the various market parameters such as value chain analysis, and the recent market activity by the leading players for sustainability. Market activity includes mergers, acquisitions, new product developments, collaborations, joint ventures and partnerships by the players in the market.
VLC technology market covers revenues and forecast of VLC/Li-Fi components, major applications that are expected to be commercialized in next 2 years, and FSO applications. VLC/Li-Fi components include LED, infrared emitters, opto-couplers and image sensors. VLC applications covered in this report include intelligent traffic management system, indoor communication, in-flight entertainment, underwater communication and location based services. There are prospective future applications of VLC, which are in the development stage; they are M2M communications, smart city, WSN and ubiquitous computing etc. FSO applications include enterprise communications, mobile carrier backhaul and military & aerospace.
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