Advantages of Conventional Wi-Fi becomes Unique Selling Point for Visible Light Communication amongst End Users
The visible light communication market has been thriving due to its increasing adoption in retail indoor positioning as it not only offer better illumination but also generates high traffic from the occupants. The market has been witnessing significant momentum in its growth due to the benefits of visible light communication over the conventional Wi-Fi and its cost-effectiveness. Owing to these reasons, the global market is expected to be worth US$113.27 bn by 2022 as compared to US$267.6 mn in 2014. During the forecast period of 2015 and 2022, the global market will expand at a CAGR of 109.2%. The market will also benefit from the accelerated adoption of LEDs that offer better illumination, run longer than other sources of light, are energy efficient, and thus result in significant cost savings.
Q. Who are the prominent users of visible light communication technology?
A. Visible light communication is used for underwater communication, retail indoor positioning, hospitality, connected devices, automotive and transport, in-flight communication or infotainment, and light-based internet. Out of all of these applications, the retail indoor positioning segment is anticipated to emerge as the leading end user between 2015 and 2022. During the forecast period, the segment will be propelled at a CAGR of 93.82%. The progress of the segment will be attributable to the emerging trend of sending instant notifications to consumers while shopping to enhance their experience through relevancy and valuable information. Thus, in turn, is expected to benefit the retailers through a spike in sales.
Q. Which region will witness the robust adoption of visible light communication?
A. In terms of regions, the global market is segmented into Europe, North America, Asia Pacific, the Middle East and Africa, and Latin America. Of these regions, North America stands out as the region has a strong presence of key players. The remarkable product innovation delivered by these players has been pivotal to the progress of North America visible light communication market over the past few years. Transparency Market Research states that this regional market will surge at a CAGR of 108.65% during the forecast period of 2015 and 2022.
Browse Press Release:
Q. Who are the leading players in the global visible light communication market?
A. The key players in the global visible light communication market are LVX System, General Electric Company Nakagawa Laboratories, Inc., PureLiFi, Ltd, and Axrtek Outstanding Technology, Co. Analysts anticipate that these players will retain their dominance as they strive to make never-seen-before changes in the technology. Players are likely to make significant investments to develop hybrid VLC systems, which will overcome issues in existing VLC systems to ensure the smooth transfer of data.
For instance, PureLiFi, Ltd. has collaborated with leading universities in the U.K. such as Oxford, Cambridge, St. Andrews, and Strathclyde to develop high-speed communication solutions that will propel the overall market. On a similar note, the start-ups working on visible light communication solutions are also expected lend a prolific impetus to the global market.