According to the research report “Visible Light Communications (VLC) Market: By Components (Access Points, Station Points); By Applications (Underwater Communication, Indoor, Outdoor); By End-User Industry (Transportation, Retail, Commercial, Hospitals & Others) – Forecast (2017 – 2022)”, published by IndustryARC, the market to reach $400.1m by 2022
Browse 29 Market Tables, 54 Figures spread through 171 slides and an in-depth TOC on “Visible Light Communications (VLC) Market” – http://industryarc.com/Report/15036/visible-light-communications-market.html
As per recent studies conducted by IndustryARC, the global visible light communication market is forecast to reach $400.1m by 2022 growing at CAGR 125.2%. The growth is primarily attributed to the adoption of high speed and energy efficient wireless communication products in retail, commercial and smart cities.
Visible light communication market is analyzed to be dominated by retail and commercial sector with share of 64.3% and 35.56% respectively in 2015. Stringent competition from e-commerce sector is set to drive the adoption of visible light communication in retail sector to enhance marketing and advertisement for directly availing discount and various other types of offers on the customer’s smartphones through VLC. Museum & Art Gallery and Smart city verticals are set to witness prominent growth of CAGR 182% and 173% respectively during 2017-2022. The growth is set to assisted by the growing demand of high speed, energy efficient, environmental friendly and harmless communication mediums for enhanced user convenience and reliability.
Europe is the analyzed to dominate the global visible light communication market with revenue of $1.2 m in 2015. Americas is estimated to witness the highest growth of CAGR 140.9% during 2017-2022 owing to the increasing adoption of visible light communication in healthcare and retail sector in the U.S. Canada’s visible light communication market growth during the forecast period 2017-2023 is estimated to be significantly assisted by the government’s initiative “Building Canada” which involves long term infrastructure development investment of $53 billion for all industry verticals. European countries such as U.K., Germany, France are the comprehended to be the dominating visible light communication markets. The increasing demand for energy efficient lightings and high speed wireless communication solutions is set to fuel the market in the forecast period. The paradigm shift to visible light communication in this region is also due to the increasing concerns on long term harmful effects of radio waves and microwaves traditionally employed in wireless communication.
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The Major Players in this Market Include:
- OLEDCOMM S.A.S
- pureLiFi Ltd.
- FireFly Wireless Networks, LLC
Visible Light Communication manufacturers have utilized product launches and expansion to augment entry into the market and enhance core competencies through collaborations, joint ventures, partnerships and agreements leveraging their capabilities to gain a foothold in the emerging market.
The Visible Light Communication Market study across various verticalsis incorporated in the Report
- Museums & Art Gallery
The overall market is also presented from the perspective of different geographic regions and the key countries in each region. Competitive landscape for each of the product types is highlighted and market players are profiled.
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