Northbrook, IL -- (SBWIRE) -- 12/02/2020 -- According to the new market research report "Free Space Optics (FSO) and Visible Light Communication (VLC)/Light Fidelity (Li-Fi) Market by Component (LED, Photodetector, Microcontroller, and Software), Transmission Type, Application, and Geography - Global Forecast to 2025", published by MarketsandMarkets™, the overall FSO market is expected to grow from USD 402 million in 2020 to USD 1,977 million by 2025; it is expected to grow at a CAGR of 37.5% during 2020–2025. The overall VLC market is expected to grow from USD 6.8 billion in 2020 to USD 200.1 billion by 2025; it is expected to grow at a CAGR of 396.5% during 2020–2025. Key factors fueling this market's growth include the alternative solution to overburdened RF technology for outdoor networking, last-mile connectivity, faster and safer data transfer than other challenging technologies, and less energy consumption by LEDs. The demand for Li-Fi technology is increasing across the world to provide secure communications with high data bandwidth, and so on. Various applications such as healthcare, consumer electronics, defense, and commercial create a strong demand for FSO/Li-Fi for efficient industrial operations in the midst of COVID-19.

Ask for PDF Brochure:
https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=946

Software is expected to gain a significant share of Li-Fi market by 2025

The software is expected to account for the largest share of the Li-Fi market by 2025. Due to the commercialization of bidirectional VLC in late 2017, the demand for software solutions is projected to rise and support the uplink and downlink for two-way communications in various applications.

Based on application, Healthcare and underwater communication to witness the highest CAGR in FSO and VLC markets during 2020–2025

The FSO market for the healthcare application and VLC market for underwater communications application is expected to grow with the highest CAGR during the forecast period. FSOs are hugely deployed in the healthcare application, where wireless communication through radio waves is not allowed due to potential health hazards. On the other hand, Underwater communications rely on acoustic technologies that limit the speeds to a fraction of terrestrial wireless systems. RF does not work underwater, but visible light can support high-speed data transmission over short distances in this environment. VLC can be a safe alternative to RF communication and serve the purpose of this untapped application area.

Browse in-depth TOC on "Visible Light Communication Market"

113 – Tables
64 – Figures
209 – Pages

Inquiry Before Buying:
https://www.marketsandmarkets.com/Enquiry_Before_BuyingNew.asp?id=946

FSO and VLC market in APAC to grow at the highest CAGR during the forecast period

The FSO and VLC market in APAC is expected to grow at the highest CAGR during the forecast period. Increasing manufacturing facilities, advanced infrastructure, and the growing computer-aided design (CAD) industry are the factors driving the FSO market in APAC. Also, with the recent developments and increased expenditure on VLC-related R&D activities, the APAC region is expected to be the fastest-growing market for VLC during the forecast period. Similarly, end-user industries such as automotive, aerospace & defense, and consumer electronics are expected to create huge opportunities for VLC or Li-Fi solution providers.

Key players in the market include fSONA Networks Corp. (Canada), Wireless Excellence Limited (UK), Signify Holding (Netherlands), Oledcomm (France), Lucibel (France), pureLiFi Limited (UK), Acuity Brands (US), Panasonic Corporation (Japan), Fraunhofer HHI (Germany), and Trimble Hungary (Hungry). These players are increasingly undertaking product launches and developments, partnerships, contracts, expansions, and acquisitions, to increase their market shares.

Smart Lighting Market by Offering (Hardware: Lights & Luminaires, Lighting Controls; Software, and Services), Communication Technology (Wired and Wireless), Installation Type, End-use Application, and Geography - Global Forecast to 2025

LED Lighting Market by Installation Type (New Installation and Retrofit Installation), End-Use Application (Indoor Lighting and Outdoor Lighting), Product Type (Lamps and Luminaires), and Geography - Global Forecast to 2022

About MarketsandMarkets™
MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies' revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets' flagship competitive intelligence and market research platform, "Knowledge Store" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA: +1-888-600-6441