Visible Light Communication Market
Segments - by Components (Photo Detector, LED, Microcontroller, and Software & Services), Transmission Types (Unidirectional and Bidirectional), Applications (Automotive, Infrastructure, Consumer Electronics, Defence & Security, Life Sciences, and Others), and Regions (Asia Pacific, North America, Latin America, Europe, and Middle East & Africa) - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast 2021 – 2028
The global visible light communication market size was valued USD 23.09 million in 2020 and is anticipated to expand at a substantial CAGR during the forecast period, 2021–2028. The growth of the market is attributed to rising demand and investments in visible light communication (VLC) technology.
VLC systems are used to provide ultra-high-speed, secure, and biologically compatible communication networks that allow for the creation and spread of unified computing applications.
For purpose of communication, such systems utilize changed light wavelengths emitted by a range of sources, including indoor and outdoor illumination, signaling, bulletin board, television, computer screens, digital cameras, and digital cameras on mobile phones. This type of system largely using light emitting diodes (LEDs). The use of wireless technologies such as infrared (IR), Bluetooth, and Wi-Fi, can be obsolete in the future due to rising penetration of VLC for various applications.
Market Trends Drivers, Restraints and Opportunities
- Rising preference for VLC applications is expected to drive the market growth.
- The exponential expansion of LED in most lighting devices is anticipated to fuel the adoption of high-speed VLC, spurring the growth of the market.
- Lack of awareness about VLC technology can hamper the market expansion
- Ongoing technological developments is estimated to offer lucrative opportunities for industry players in the projected timeline.
Scope of Visible Light Communication Market Report
The report on the global visible light communication market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
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Attributes |
Details |
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Report Title |
Visible Light Communication Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast |
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Base Year |
2020 |
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Historic Data |
2018–2019 |
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Forecast Period |
2021–2028 |
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Segmentation |
Components (Photo Detector, LED, Microcontroller, and Software & Services), Transmission Types (Unidirectional and Bidirectional), Applications (Automotive, Infrastructure, Consumer Electronics, Defense & Security, Life Sciences, and Others), |
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Regional Scope |
Asia Pacific, North America, Latin America, Europe, and Middle East & Africa |
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Report Coverage |
Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast |
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Key Players Covered in the Report |
Panasonic Corporation; Lucibel SA; LVX System; Koninklijke Philips NV; and Firefly Wireless Networks LLC |
Visible Light Communication Market Segment Insights
LED segment is expected to grow at a rapid pace
Based on components types, the market is divided into photo detector, LED, microcontroller, and software & services.
The LED segment is expected to grow at a rapid pace during the forecast period due to its inexpensive cost and increased use in various applications such as residences, offices, automobiles, airlines, and retail outlets, among others. Moreover, LEDs are also chosen over all other lighting systems as they can be turned on and off using a microcontroller.
Bidirectional segment is projected to expand at a considerable CAGR
On the basis of transmission types, the market is segregated into unidirectional and bidirectional.
The bidirectional segment is projected to expand at a considerable CAGR during the forecast period. Retailers require notify consumers about various product offerings to enhance sales, which is done through the use of VLC systems.
Automotive segment is estimated to account for a significant market share.
Based on applications, the market is divided into automotive, infrastructure, consumer electronics, defense & security, life sciences, and others.
The automotive segment is estimated to account for a significant market share during the forecast period owing to rising VLC technology in road transportation, which allows drivers to access and create information from traffic light sources utilizing smart devices or car headlights.
North America is anticipated to constitute a key market share
In terms of regions, the global visible light communication market is classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa.
North America is expected to constitute a key share of the market during the projected period due to the existence of numerous research and development centers in the region, as well as investments by large corporations in the region to adopt this technology.
However, Asia Pacific is anticipated to expand at a rapid pace during the forecast period owing to the presence of various emerging countries where government state bodies are pushing the use of LED lights. In 2020, China accounted for nearly 50% of the market in Asia Pacific and is estimated to dominate during the forecast period.
Segments
The global visible light communication market has been segmented on the basis of
Components
- Photo Detector
- LED
- Microcontroller
- Software
- Services
Transmission Types
- Unidirectional
- Bidirectional
Applications
- Automotive
- Infrastructure
- Consumer Electronics
- Defense & Security
- Life Sciences
- Others
Regions
- Asia Pacific
- North America
- Latin America
- Europe
- Middle East & Africa
Key Players
- Panasonic Corporation
- Lucibel SA
- LVX System
- Koninklijke Philips NV
- Firefly Wireless Networks LLC
Competitive Landscape
Key players competing in the global visible light communication market are Panasonic Corporation; Lucibel SA; LVX System; Koninklijke Philips NV; and Firefly Wireless Networks LLC. The market is very competitive in nature owing to the presence of many major players.
1. Executive Summary
2. Assumptions and Acronyms Used
3. Research Methodology
4. Visible Light Communication Market Overview
4.1. Introduction
4.1.1. Market Taxonomy
4.1.2. Market Definition
4.2. Macro-Economic Factors
4.2.1. Industry Outlook
4.3. Visible Light Communication Market Dynamics
4.3.1. Market Drivers
4.3.2. Market Restraints
4.3.3. Opportunity
4.3.4. Market Trends
4.4. Visible Light Communication Market - Supply Chain
4.5. Global Visible Light Communication Market Forecast
4.5.1. Visible Light Communication Market Size (US$ Mn) and Y-o-Y Growth
4.5.2. Visible Light Communication Market Size (000’ Units) and Y-o-Y Growth
4.5.3. Visible Light Communication Market Absolute $ Opportunity
5. Global Visible Light Communication Market Analysis and Forecast by Region
5.1. Market Trends
5.2. Introduction
5.2.1. Basis Point Share (BPS) Analysis by Region
5.2.2. Y-o-Y Growth Projections by Region
5.3. Visible Light Communication Market Size and Volume Forecast by Region
5.3.1. North America
5.3.2. Latin America
5.3.3. Europe
5.3.4. Asia Pacific
5.3.5. Middle East and Africa (MEA)
5.4. Absolute $ Opportunity Assessment by Region
5.5. Market Attractiveness/Growth Potential Analysis by Region
5.6. Global Visible Light Communication Demand Share Forecast, 2019-2026
6. North America Visible Light Communication Market Analysis and Forecast
6.1. Introduction
6.1.1. Basis Point Share (BPS) Analysis by Country
6.1.2. Y-o-Y Growth Projections by Country
6.2. North America Visible Light Communication Market Size and Volume Forecast by Country
6.2.1. U.S.
6.2.2. Canada
6.3. Absolute $ Opportunity Assessment by Country
6.4. Market Attractiveness/Growth Potential Analysis
6.4.1. By Country
6.4.2. By Product Type
6.4.3. By Application
6.5. North America Visible Light Communication Demand Share Forecast, 2019-2026
7. Latin America Visible Light Communication Market Analysis and Forecast
7.1. Introduction
7.1.1. Basis Point Share (BPS) Analysis by Country
7.1.2. Y-o-Y Growth Projections by Country
7.1.3. Latin America Average Pricing Analysis
7.2. Latin America Visible Light Communication Market Size and Volume Forecast by Country
7.2.1. Brazil
7.2.2. Mexico
7.2.3. Rest of Latin America
7.3. Absolute $ Opportunity Assessment by Country
7.4. Market Attractiveness/Growth Potential Analysis
7.4.1. By Country
7.4.2. By Product Type
7.4.3. By Application
7.5. Latin America Visible Light Communication Demand Share Forecast, 2019-2026
8. Europe Visible Light Communication Market Analysis and Forecast
8.1. Introduction
8.1.1. Basis Point Share (BPS) Analysis by Country
8.1.2. Y-o-Y Growth Projections by Country
8.1.3. Europe Average Pricing Analysis
8.2. Europe Visible Light Communication Market Size and Volume Forecast by Country
8.2.1. Germany
8.2.2. France
8.2.3. Italy
8.2.4. U.K.
8.2.5. Spain
8.2.6. Russia
8.2.7. Rest of Europe
8.3. Absolute $ Opportunity Assessment by Country
8.4. Market Attractiveness/Growth Potential Analysis
8.4.1. By Country
8.4.2. By Product Type
8.4.3. By Application
8.5. Europe Visible Light Communication Demand Share Forecast, 2019-2026
9. Asia Pacific Visible Light Communication Market Analysis and Forecast
9.1. Introduction
9.1.1. Basis Point Share (BPS) Analysis by Country
9.1.2. Y-o-Y Growth Projections by Country
9.1.3. Asia Pacific Average Pricing Analysis
9.2. Asia Pacific Visible Light Communication Market Size and Volume Forecast by Country
9.2.1. China
9.2.2. Japan
9.2.3. South Korea
9.2.4. India
9.2.5. Australia
9.2.6. Rest of Asia Pacific (APAC)
9.3. Absolute $ Opportunity Assessment by Country
9.4. Market Attractiveness/Growth Potential Analysis
9.4.1. By Country
9.4.2. By Product Type
9.4.3. By Application
9.5. Asia Pacific Visible Light Communication Demand Share Forecast, 2019-2026
10. Middle East & Africa Visible Light Communication Market Analysis and Forecast
10.1. Introduction
10.1.1. Basis Point Share (BPS) Analysis by Country
10.1.2. Y-o-Y Growth Projections by Country
10.1.3. Middle East & Africa Average Pricing Analysis
10.2. Middle East & Africa Visible Light Communication Market Size and Volume Forecast by Country
10.2.1. Saudi Arabia
10.2.2. South Africa
10.2.3. UAE
10.2.4. Rest of Middle East & Africa (MEA)
10.3. Absolute $ Opportunity Assessment by Country
10.4. Market Attractiveness/Growth Potential Analysis
10.4.1. By Country
10.4.2. By Product Type
10.4.3. By Application
10.5. Middle East & Africa Visible Light Communication Demand Share Forecast, 2019-2026
11. Competition Landscape
11.1. Global Visible Light Communication Market: Market Share Analysis
11.2. Visible Light Communication Distributors and Customers
11.3. Visible Light Communication Market: Competitive Dashboard
11.4. Company Profiles (Details: Overview, Financials, Developments, Strategy)
11.4.1. Panasonic Corporation
11.4.2. Lucibel SA
11.4.3. LVX System
11.4.4. Koninklijke Philips NV
11.4.5. Firefly Wireless Networks LLC
2. Assumptions and Acronyms Used
3. Research Methodology
4. Visible Light Communication Market Overview
4.1. Introduction
4.1.1. Market Taxonomy
4.1.2. Market Definition
4.2. Macro-Economic Factors
4.2.1. Industry Outlook
4.3. Visible Light Communication Market Dynamics
4.3.1. Market Drivers
4.3.2. Market Restraints
4.3.3. Opportunity
4.3.4. Market Trends
4.4. Visible Light Communication Market - Supply Chain
4.5. Global Visible Light Communication Market Forecast
4.5.1. Visible Light Communication Market Size (US$ Mn) and Y-o-Y Growth
4.5.2. Visible Light Communication Market Size (000’ Units) and Y-o-Y Growth
4.5.3. Visible Light Communication Market Absolute $ Opportunity
5. Global Visible Light Communication Market Analysis and Forecast by Region
5.1. Market Trends
5.2. Introduction
5.2.1. Basis Point Share (BPS) Analysis by Region
5.2.2. Y-o-Y Growth Projections by Region
5.3. Visible Light Communication Market Size and Volume Forecast by Region
5.3.1. North America
5.3.2. Latin America
5.3.3. Europe
5.3.4. Asia Pacific
5.3.5. Middle East and Africa (MEA)
5.4. Absolute $ Opportunity Assessment by Region
5.5. Market Attractiveness/Growth Potential Analysis by Region
5.6. Global Visible Light Communication Demand Share Forecast, 2019-2026
6. North America Visible Light Communication Market Analysis and Forecast
6.1. Introduction
6.1.1. Basis Point Share (BPS) Analysis by Country
6.1.2. Y-o-Y Growth Projections by Country
6.2. North America Visible Light Communication Market Size and Volume Forecast by Country
6.2.1. U.S.
6.2.2. Canada
6.3. Absolute $ Opportunity Assessment by Country
6.4. Market Attractiveness/Growth Potential Analysis
6.4.1. By Country
6.4.2. By Product Type
6.4.3. By Application
6.5. North America Visible Light Communication Demand Share Forecast, 2019-2026
7. Latin America Visible Light Communication Market Analysis and Forecast
7.1. Introduction
7.1.1. Basis Point Share (BPS) Analysis by Country
7.1.2. Y-o-Y Growth Projections by Country
7.1.3. Latin America Average Pricing Analysis
7.2. Latin America Visible Light Communication Market Size and Volume Forecast by Country
7.2.1. Brazil
7.2.2. Mexico
7.2.3. Rest of Latin America
7.3. Absolute $ Opportunity Assessment by Country
7.4. Market Attractiveness/Growth Potential Analysis
7.4.1. By Country
7.4.2. By Product Type
7.4.3. By Application
7.5. Latin America Visible Light Communication Demand Share Forecast, 2019-2026
8. Europe Visible Light Communication Market Analysis and Forecast
8.1. Introduction
8.1.1. Basis Point Share (BPS) Analysis by Country
8.1.2. Y-o-Y Growth Projections by Country
8.1.3. Europe Average Pricing Analysis
8.2. Europe Visible Light Communication Market Size and Volume Forecast by Country
8.2.1. Germany
8.2.2. France
8.2.3. Italy
8.2.4. U.K.
8.2.5. Spain
8.2.6. Russia
8.2.7. Rest of Europe
8.3. Absolute $ Opportunity Assessment by Country
8.4. Market Attractiveness/Growth Potential Analysis
8.4.1. By Country
8.4.2. By Product Type
8.4.3. By Application
8.5. Europe Visible Light Communication Demand Share Forecast, 2019-2026
9. Asia Pacific Visible Light Communication Market Analysis and Forecast
9.1. Introduction
9.1.1. Basis Point Share (BPS) Analysis by Country
9.1.2. Y-o-Y Growth Projections by Country
9.1.3. Asia Pacific Average Pricing Analysis
9.2. Asia Pacific Visible Light Communication Market Size and Volume Forecast by Country
9.2.1. China
9.2.2. Japan
9.2.3. South Korea
9.2.4. India
9.2.5. Australia
9.2.6. Rest of Asia Pacific (APAC)
9.3. Absolute $ Opportunity Assessment by Country
9.4. Market Attractiveness/Growth Potential Analysis
9.4.1. By Country
9.4.2. By Product Type
9.4.3. By Application
9.5. Asia Pacific Visible Light Communication Demand Share Forecast, 2019-2026
10. Middle East & Africa Visible Light Communication Market Analysis and Forecast
10.1. Introduction
10.1.1. Basis Point Share (BPS) Analysis by Country
10.1.2. Y-o-Y Growth Projections by Country
10.1.3. Middle East & Africa Average Pricing Analysis
10.2. Middle East & Africa Visible Light Communication Market Size and Volume Forecast by Country
10.2.1. Saudi Arabia
10.2.2. South Africa
10.2.3. UAE
10.2.4. Rest of Middle East & Africa (MEA)
10.3. Absolute $ Opportunity Assessment by Country
10.4. Market Attractiveness/Growth Potential Analysis
10.4.1. By Country
10.4.2. By Product Type
10.4.3. By Application
10.5. Middle East & Africa Visible Light Communication Demand Share Forecast, 2019-2026
11. Competition Landscape
11.1. Global Visible Light Communication Market: Market Share Analysis
11.2. Visible Light Communication Distributors and Customers
11.3. Visible Light Communication Market: Competitive Dashboard
11.4. Company Profiles (Details: Overview, Financials, Developments, Strategy)
11.4.1. Panasonic Corporation
11.4.2. Lucibel SA
11.4.3. LVX System
11.4.4. Koninklijke Philips NV
11.4.5. Firefly Wireless Networks LLC
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