Visible Light Communication: A Disruptive Technology for the Internet of Things

Research Reports

May 25, 2023

Visible Light Communication LiFi Market Overview

The market for visible light communication (VLC) or Light Fidelity (LiFi) technology is expected to grow significantly in the coming years. LiFi is a wireless communication technology that uses visible light instead of traditional radio waves to transmit data. The technology is based on the use of LED lights to transmit data by modulating the light at high frequencies.

The VLC/LiFi market Size was valued at USD 12.78 Billion in 2022. The Li-Fi industry is projected to grow from USD 25.56 Billion in 2023 to USD 116.96 Billion by 2030, exhibiting a compound annual growth rate (CAGR) of 31.60% during the forecast period (2023 – 2030). The increasing demand for high-speed and secure data transmission and the growing adoption of LED lighting are some of the key factors driving the growth of the market.

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Regional Analysis:

The visible light communication (VLC) or Light Fidelity (LiFi) market can be analyzed regionally to understand the growth prospects and market dynamics in different parts of the world. Here’s a brief analysis of the VLC/LiFi market by region:

North America: North America is expected to dominate the VLC/LiFi market during the forecast period due to the presence of major LiFi solution providers and the increasing adoption of smart lighting in the region. The United States is the largest market for LiFi technology in North America, and the country is expected to witness significant growth due to the increasing demand for high-speed and secure data transmission.

Europe: Europe is another important market for VLC/LiFi technology due to the increasing adoption of smart lighting and the growing demand for high-speed data transmission. The United Kingdom, France, and Germany are some of the major countries contributing to the growth of the market in Europe.

Asia Pacific: The Asia Pacific region is expected to grow at the highest CAGR during the forecast period due to the increasing adoption of IoT devices and the growing demand for high-speed data transmission. China, Japan, and India are some of the major countries contributing to the growth of the market in the region.

Middle East & Africa: The Middle East and Africa region is also expected to witness significant growth in the VLC/LiFi market due to the increasing adoption of smart lighting and the growing demand for high-speed data transmission.

Latin America: Latin America is a developing market for VLC/LiFi technology, and the region is expected to witness significant growth during the forecast period due to the increasing adoption of smart lighting and the growing demand for high-speed data transmission.

In summary, the VLC/LiFi market is expected to grow significantly in all regions, with North America leading the market in terms of revenue. However, the Asia Pacific region is expected to witness the highest CAGR during the forecast period, driven by the increasing adoption of IoT devices and the growing demand for high-speed data transmission.

Market Segmentation: 

The visible light communication (VLC) or Light Fidelity (LiFi) market can be segmented based on various factors such as component type, end-user, and geography. Here’s a brief analysis of the market segmentation:

Component Type: The LiFi market can be segmented into three main components: LED, photodetectors, and microcontrollers. The LED segment is expected to dominate the market due to the increasing adoption of LED lighting for various applications.

End-User: The LiFi market can be segmented based on end-users such as automotive, aerospace & defense, healthcare, retail, and others. The healthcare segment is expected to witness significant growth due to the increasing adoption of LiFi technology for real-time patient monitoring and other healthcare applications.

Geography: The LiFi market can be segmented based on geography into North America, Europe, Asia Pacific, Middle East & Africa, and Latin America. North America is expected to dominate the market due to the presence of major LiFi solution providers and the increasing adoption of smart lighting in the region.

Application: The LiFi market can be segmented based on applications such as indoor networking, underwater communication, vehicle-to-vehicle communication, and others. The indoor networking segment is expected to dominate the market due to the increasing demand for high-speed and secure data transmission in various industries.

Industry Vertical: The LiFi market can be segmented based on industry verticals such as healthcare, defense, automotive, aviation, retail, and others. The healthcare segment is expected to witness significant growth due to the increasing adoption of LiFi technology for real-time patient monitoring and other healthcare applications.

In summary, the LiFi market can be segmented based on various factors such as component type, end-user, geography, application, and industry verticals. The increasing adoption of smart lighting, the growing demand for high-speed and secure data transmission, and the increasing adoption of IoT devices are some of the key factors driving the growth of the market.

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Key Players

Some key players in the Visible Light Communication (VLC) market: Signify N.V. (formerly Philips Lighting), Acuity Brands Lighting, Inc., Oledcomm, PureLiFi Ltd., Velmenni, LightBee Corporation, FSONA Networks Corp., Koninklijke Philips N.V., General Electric, Panasonic Corporation .

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Tags: Visible Light Communication Industry, Visible Light Communication Market Profit, Visible Light Communication Business, Visible Light Communication Market Segments, Visible Light Communication, Light Fidelity Market, Visible Light Communication Market Trends, Global Visible Light Communication Market, Visible Light Communication Market, visible light communication (li-fi) market, Li-Fi Market See Campaign: https://www.marketresearchfuture.com/reports/visible-light-communication-market-2559

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