According to the new market research report on "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 2023", published by MarketsandMarkets™, the free space optics (FSO) market is expected to grow from USD 0.27 billion in 2018 to USD 1.45 billion by 2023, at a CAGR of 39.58% during 2018-2023. Factors driving the growth of the FSO market include last-mile connectivity, no licensing, and alternative solution to overburdened RF technology for outdoor networking. The visible light communication (VLC) market is expected to grow from USD 2.56 billion in 2018 to USD 75.00 billion by 2023, at a CAGR of 96.57% between 2018 and 2023. Major factors driving this growth are faster and safer data transfer, RF spectrum bandwidth crunch, and less energy consumption.
Mobile backhaul and consumer electronics applications expected to hold the largest share of the FSO and VLC markets, respectively
Among all the major applications of FSO, the mobile backhaul application is expected to account for the largest share during the forecast period. This is due to the increasing internet penetration and data traffic from mobile applications, including the Internet, video, and data services, which has grown tremendously with the proliferation of smartphones, tablets, and other wireless devices. Whereas, VLC market for consumer electronics is expected to hold the largest share by 2023 because many consumer electronics devices already have LED technology integrated into their user interface, implementing VLC connectivity is inexpensive and easy to deploy.
Browsein-depth TOC on"Free Space Optics (FSO) and Visible Light Communication (VLC)/Light Fidelity (Li-Fi) Market"
Photodetector expected to be the fastest growing component in the VLC market
The market for photodetector is expected to grow at the highest CAGR during 2018-2023. This growth is attributed to the commercialization of bidirectional VLC. Photodetector will enable the Li-Fi to function as a bidirectional communication system (like a conventional broadband and Wi-Fi). Photodetector is the main component of bidirectional VLC that helps in detecting changes in light intensity from the LED light source.
FSO and VLC market in APAC is expected to grow at the highest CAGR during the forecast period
The FSO market in APAC is expected to grow at the highest CAGR between 2018 and 2023. Increasing manufacturing facilities, advanced infrastructure, and the growing computer-aided design (CAD) industry are the factors driving the FSO market in APAC. The VLC market in APAC is expected to grow at the highest CAGR due to recent developments and increased expenditure on VLC-related R&D activities in APAC.
Major players in the FSO market are LightPointe Communications (US), fSONA Networks (Canada), Wireless Excellence (UK), Plaintree Systems (Canada), and Trimble Hungary (Hungary). Key players of the VLC market are Signify Holding (Netherlands), Oledcomm (France), Lucibel (France), pureLiFi (UK), Acuity Brands (US), General Electric (US), Fraunhofer HHI (Germany), LVX System (US), Panasonic (Japan), and IBSENtelecom (Norway).
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's 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. Shelly Singh MarketsandMarkets™ INC. 630 Dundee Road Suite 430 Northbrook, IL 60062 USA: +1-888-600-6441 Email: email@example.com