Visible Light Communication Market by Component (LED, Microcontroller, Photodetector, and Software& Services), Transmission Type (Bidirectional, and Unidirectional), and Industrial Vertical (Consumer Electronics, Automotive, Infrastructure, Defense and Security, Healthcare &Life Sciences, and Others): Global Opportunity Analysis and Industry Forecast, 2022-2029

Visible Light Communication Market Insight

Visual light communication systems are being developed to create uninterrupted secure, high-speed, and geographically friendly communication networks that permit the making and development of continuous computing applications.  It is an optical wireless technology that is used for data interference process. It is used to modify light wavelengths emanated by various suitably adapted conventional sources, such as, illuminated signs, outdoor and indoor lighting, televisions, displays, digital cameras, computer screens, and digital cameras. Visible light communication technology reduces additional operating costs such as electricity charges and maintenance charges, which boost the market growth.

Visible Light Communication Market Scope and Structure Analysis:

Impact of COVID-19 onVisible Light Communication Market:

• Since the COVID-19 virus outbreak in December 2019, the disease has spread to almost all countries around the globe, with the WHO declaring it a public health emergency. The global impacts of the disease are already starting to be felt, and expected to significantly affect the global visible light communication market in 2020.
• Currently, there are travel restrictions all around the globe to stop the spread of COVID-19, which has affected the visible light communication market in a negative manner.
• Overall, the pandemic is expected to have a negative impact on the global visible light communication market.

Top impacting factors: Market Scenario Analysis, Trends, Drivers and Impact Analysis

Increasing government funding, lack of capacity or bandwidth limits, and increasing research and development activities are key factors driving the visible light communications market.However, lack of technological knowledge restricts to the growth of market. Contrarily, global acceptance of bidirectional VLC by different industry verticals, and emergence of new applications such as IoT and 5G are the opportunity factors for the global market during forecast period.

Plethora of wireless applications

The potential of VLC have been driven by the increasing adoption of mobile electronic devices. Demand for wireless capability represents a 10 times increase in mobile traffic over the next five years, as Cisco recently estimated. But mobile carrier speeds are projected to increase by only 9 per cent over the same period.More than 70% of all mobile traffic happens in homes and most of it happens in certain places, there isa huge opportunity to offload traffic at a localized access point such as WiFi or small cell.

Increase in adoption in tourism industry

Vehicle lights and existing traffic light infrastructure allow visual light communication to be used for vehicle communication. The high importance function identified by the vehicle security communications development include pre-crash identifying, helpful forward collision warning, lane change caution and extra electronic brake lights. Therefore, increasing adoption of visual light communication in tourism industry.

Key segments covered:

Key benefits of the report:

• This study presents the analytical depiction of the global visible light communication (VLC) industry along with the current trends and future estimations to determine the imminent investment pockets.
• The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the global visible light communication (VLC) market share.
• The current market is quantitatively analyzed from 2021 to 2027 to highlight the global market growth scenario.
• Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
• The report provides a detailed global visible light communication (VLC) market analysis based on competitive intensity and how the competition will take shape in coming years.

 Key Market Segments & Key Market Players