Visible Light Communication Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2015 – 2022
Albany, NY -- (SBWIRE) -- 10/14/2015 -- According to a new market report published by Transparency Market Research "Visible Light Communication Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2015 - 2022", the global market for Visible light communication (VLC) was valued at US$ 267.6.0 Mn in 2014 and is expected to reach US$ 113,273.4 Mn by 2022, growing at a CAGR of 109.2% from 2015 to 2022. North America was the largest revenue contributor in 2014 and accounted for 43.4% of the global visible light communication market revenue. Swelling demand for radio frequency communication resulting in spectrum constraint is fueling the demand for visible light communication as a complementary technology. Features such as safety, higher energy-efficiency and minimal interference are cementing the growth of visible light communication market. The visible light communication market has lately witnessed increase in the demand for VLC solutions in the retail industry, owing to its use in targeted advertisements and location based services. Asia Pacific is expected to be the fastest growing market for visible light communication in terms of revenue during the forecast period. The growth in this region is primarily attributed to increasing R&D investment in countries such as Japan, China and Korea, which are expected to pave way for novel applications. Further, energy efficiency of VLC networks is expected to drive the demand for visible light communication in emerging regions during the forecast period.
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The expected rise in adoption of VLC across all the regions would help augment the growth rate in near term with marginal steadiness reflecting towards mid to long term of the forecast period. Asia Pacific is estimates to dominate in terms of growth rate while North America will see higher revenue contribution throughout the forecast period. Collaboration by vendors with the research institutions for extensive R&D is the key trend observed in the market. Likewise, LED OEMs in the visible light communication market are focusing on partnering with VLC solution developers and vice-versa. These collaborations will help overcome existing barriers in the market such as lack of standardization and difficulty in upgrading existing LED lighting for VLC communication. However, the researchers are constantly testing new solutions and overcoming the existing barriers which is further expected to boost the demand for VLC solutions in the near future.
In 2014, retail indoor positioning was the largest segment in terms of revenue, contributing 57.5% revenue share. The visible light communication market segments with data rates up to 1 Mb/s and distance up to 10 m dominated the global visible light communication market in 2014, with each segment accounting for approximately 80% of the global VLC market revenue in the same year. Further, in terms of communication type, of the two segments, viz. unidirectional and bidirectional, due to challenges in uplink communication, bidirectional visible light communication market has not been able to see swift adoption as that of unidirectional communication. However, with technological advancements negating impact of these challenges, the bidirectional visible light communication segment is expected to overtake unidirectional visible light communication market over the forecast period. The bidirectional VLC market is expected to see further demand surge with growing implementation across connected devices. The connected devices applications is expected to be highest growing segment over the forecast period as mobile companies are striving for integrating visible light communication technologies in their smartphones. Thus, with new opportunities emerging across VLC market, the lighting companies too are exploring their options to tap into the lucrative growth potential provided, thereby adding to long term VLC market growth.
Light based internet was the emerging VLC application in 2014 with major activities witnessed in Japan and the U.S. It accounted for 39.2% of the global visible light communication market revenue in the same year However, the penetration of visible light communication technology is currently quite low and is expected to rise with increase in adoption of LED lighting applications. In order to leverage the potential revenue opportunities, leading players are focusing on offering bidirectional high speed visible light communication solutions covering large distances in various applications.
The report analyses global visible light communication market and provides estimates in terms of revenue (US$ Mn) from 2013 to 2022. Market estimates are provided for different segments, categorized on the basis of end-user application, data rate, distance, communication type and geographies. The market has been segmented as follows:
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Market Segmentation of Global Visible Light Communication Market:
Global Visible Light Communication Market, by End-user Application
Retail indoor positioning
Automotive and transport
Light based internet
Others (aerospace and defense, mining, charging)
Global Visible Light Communication Market, By Data Rate
Up to 1 Mb/s
Above 1 Mb/s
Global Visible Light Communication Market, By Distance
Up to 10 m
Above 10 m
Global Visible Light Communication Market, By Communication Type
Global Visible Light Communication Market, By Geography
Middle East and Africa ( MEA)
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