Visible Light Communication Market

Visible Light Communication Market Highlights

The global visible light communication market is expected to cross a value of USD 4.40 billion by the end of 2032. The market was valued at USD 0.46 billion in 2023 and is expected to expand at a CAGR of 37.8% between 2024-2032.

• Over the mid-term, the rise in demand for high speed communication network is the primary factor anticipated to drive the global visible light communication market.
• The numerous challenges associated with the implementation of the technology is a major factor to challenge the market growth.
• The North America visible light communication market is projected to dominate the global market.

Visible Light Communication Market Outlook

A wireless communication technology that uses visible light for transmission of data is known as visible light communication (VLC). The technology uses visible light that is specifically emitted by light emitting diodes (LEDs).

Our experts at KD Market Insights have assessed that the rise in demand for high speed communication network is one of the major factors projected to promote the growth of the global visible light communication (VLC) market. VLC offers high-speed data transfer rates using visible light frequencies. With advancements in LED technology, VLC systems can achieve data rates comparable to or exceeding traditional wireless communication technologies like Wi-Fi. This makes VLC attractive for applications requiring high bandwidth, such as in smart buildings, indoor navigation, and high-density data environments. With the increase in adoption of smart buildings globally and the relative environment of smart buildings, the demand for VLC is also expected to increase, thereby adding to the market growth in the coming years. Our researchers predict that the revenue generated by smart buildings would be close to 428.2 billion by 2032, expanding at a CAGR of around 23% during the forecast period. General Electric company, Toshiba Corporation, NEC Corporation are some of the significant parties in the global market for visible light communication.

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Visible Light Communication Market Drivers – Analyst’s Observation

According to the analysts at KD Market Insights, some key growth drivers for the global visible light communication market are:

• Growing Emergence of Light Fidelity Technology: The recently discovered light fidelity technology, also known as Li-Fi, is an advanced version of the conventional Wi-Fi technology, that uses visible light for wireless communication. As the technology gains recognition and acceptance in the coming years, the adoption of VLC is also expected to increase. Our experts have found that the data transfer speed of Li-Fi ranges up to 224 Gbps, whereas WiGig, which is also the fastest Wi-Fi technology till date, provides a maximum data transfer speed of 7Gbps. With this huge scope laying forward for wireless communication technologies, the demand for VLC is definitely expected to grow.
• Efficiency and Energy Savings Benefits Associated with VLC: VLC uses light emitting diode (LED) technology for communication. As LED is already widely used for smart lighting purposes, hence, upon integrating the communication capabilities into LED lighting systems, the entire ecosystem of wireless communication would be more energy-efficient. This dual functionality would promote sustainability and would be more appealing to all those, especially businesses, who are taking steps to lower their environmental footprint.

Which Probable Factors Could Hamper the Growing Visible Light Communication Market Trend?

As per our KD Market Insights analysis, some of the challenges expected to limit the global market growth of visible light communication are:

• Challenges with Implementation of the Technology: Visible Light Communication operates using visible light and requires a direct line of sight between the data transmitter and receiver. Hence, any obstacles lying in between the data transmitter and receiver would disrupt the line of sight and lower the effectiveness of data transfer. Such challenges associated with the implementation of the technology, especially in congested cities, is expected to lower the demand for the product.
• Unavailability of Standardized Protocols: The VLC technology is still evolving and several changes are made to the technology on a daily basis. As a result, it is challenging to set standardized protocols, unlike other communication technologies. The lack of standardized protocols limits the widespread adoption of any communication technology and also possesses numerous challenges with the interoperability of the technology. Such a factor is therefore expected to hinder the growth of the market in the coming years.

How is the Global Visible Light Communication Market Segmented?

Our experts at KD Market Insights have segmented the global visible light communication market as:

What are the Probable Factors Influencing the North America Visible Light Communication Market Forecast?

The North America visible light communication market is majorly driven by the growing demand for high-speed data transfer for data-intensive applications, such as video streaming, augmented reality & virtual reality, and Internet of Things (IoT) devices among others. Additionally, the growing expansion of smart cities and the rise in adoption of smart building in the region is also expected to provide numerous opportunities for market growth in the coming years.

As per our analysts at KD Market Insights, the following five players lead the North America visible light communication market growth:

• pureLiFi
• VLC Photonics
• Lucibel
• Signify (Philips Lighting)
• Acuity Brands

Which Key Players Top the Global Visible Light Communication Market Share?

As per our analysts at KD Market Insights, the competitive landscape of global visible light communication market facilitates our readers in identifying their closest competitors. The manufacturers who are associated with visible light communication market are raising their focus on expanding their presence, as well as their market share. The market has also been witnessing an upward movement in the number of collaborations between research institutions and key players, aimed at introducing advanced technologies and innovation of new products. Here is a list of the key players who top the global visible light communication market share:

• General Electric company
• Toshiba Corporation
• NEC Corporation
• Samsung Electronics Co. Ltd.
• fSONA Networks
• Casio Computer Co. Ltd.
• Nitto Denko Corporation
• Panasonic Corporation
• Qualcomm Inc.
• Fujitsu Ltd.

What are the Recent Developments Observed in the Visible Light Communication market?

Over the years, the experts at KD Market Insights have been observing the recent developments associated with global visible light communication market trends. Our expert’s market forecast analysis has recorded the market players adopting plentiful of key strategies including new product launches, mergers & acquisitions, and collaborations.

For instance, a team of researchers from the Nanjing University of Posts and Telecommunications in China stated that they have demonstrated a new visible light communication system that uses a single optical path for creating a multi-channel communication link over the air.

Further, SITUM TECHNOLOGIES shared that it has partnered with ZERO1 for developing an indoor navigation solution by the use of VLC technology.