Visible Light Communication Market - Product Innovation and Strategic Acquisitions Makes Growth in Near Future

Albany, NY -- (SBWire) -- 04/26/2018 --The players in the global visible light communication market are expected to make revolutionary changes with focus on developing hybrid VLC systems that negate the inherent VLC technology issues for seamless transmission of data.Some of the key players operating the global visible light communication market are PureLiFi, Ltd, Axrtek Outstanding Technology, Co., General Electric Company Nakagawa Laboratories, Inc., and LVX System, observes Transparency Market Research in its latest publication.

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Geographically, the global visible light communication market is segmented into North America, Europe, Asia Pacific, the Middle East and Africa, and Latin America. Out of these, the North America visible light communication market is expected to exhibit a CAGR of 108.65% between 2015 and 2022. The presence of leading players who are working towards high product innovation has resulted in the growth of this regional market in recent years. By the end of 2022, the North America visible light communication market is expected to reach US$47.88 bn.

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The rise of the retail indoor positioning market due to high traffic from the occupants and better illumination has paved the way of growth of the visible light communication market. The benefits of visible light communication over Wi-Fi, such as no additional infrastructure and higher accuracy, are also augmenting the growth of this market. The demand by retailers to send instant notifications to customers to enhance the shopping experience and increase sales is also anticipated to boost this market. This trend will lead to an uptake of retail indoor positioning, thereby encouraging the growth of the global visible light communication market.

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