Global Visible Light Communication Market - Detailed Analysis and Forecast by 2026

 The Infinium Global Research analyzes the Visible Light Communication Market over the period of 2020 to 2026. This report also provides detailed qualitative and quantitative analyses of the market dynamics, market size and future trends in global visible light communication market. It will help a lot of decision makers to develop strategies and find new opportunities in the global markets of visible light communication. The report covers market changing aspects including drivers, restraints, opportunities, and trends expected to encouragement the expansion of the visible light communication market during the period. The global visible light communication market is projected to grow at a CAGR of 63.09% over the forecast period of 2020-2026.

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Enormous Availability of LED Light Bulbs will Drive the Future Ubiquity of Connectivity and will Provide Wide Opportunities to the Market Players

VLC has used a variety of wireless network applications across various domains, namely indoor wireless communication, safe and secure hospitals, artificial intelligence and warehouses, effectual transportation and smart cities, innovative theme parks, human sensing, vehicular communication, and indoor point to point communication. The provision of high-speed connectivity in an indoor environment is the main application of VLC. VLC is an exciting breakthrough in 5G visual light communication systems and the future of wireless Internet access which is a major driving factor for the market during the forecasted period. Most of the existing researches has used RF and IR for the uplink and they have focused on the downlink to present a strong argument to the research community about the potential of VLC regarding applications and high data rate. Visual light communication is frequently used as a backbone in the access network.

Moreover, the enormous availability of LED light bulbs will drive the future ubiquity of connectivity and will provide wide opportunities to the market players. The demand for wireless connectivity declined during the pandemic. The government lockdowns along with concern over the spread of the disease discouraged people to go out shopping. The lower footfall in the stores led to the lower sales of wireless devices. Moreover, many stores were closed during the pandemic due to government restrictions. Furthermore, many end-users of the wireless connectivity solutions registered losses in their income during the pandemic. Thus, these end-users were hesitant to spend on non-essential goods and services such as wireless devices.

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North American Market is Expected to Participate Heavily in the Implementation of VLC with the Largest Market Share

Among the region, the North American Market is expected to participate heavily in the implementation of VLC with the largest market share in 2019. North America is considered as the largest player in the market as countries such as the U.S. and Canada contribute significantly to the overall revenue in the market. The U.S. is a major revenue-generating country due to the presence of a large base of existing users in the country. North America is expected to grow rapidly in the VLC solutions over the forecast timespan owing to the early adoption of technically advanced products in the end-use industries. The growing application of VLC solutions and connected devices are such factors driving the growth of the North America VLC market.

Visible Light Communication Market: Segmentation

The report on the global visible light communication market covers segments such as transmission type, component, and application. On the basis of transmission type, the sub-markets include bidirectional transmission, and unidirectional transmission. On the basis of component, the sub-markets include microcontroller, photodetector, light emitting diode, and software. On the basis of application, the sub-markets include consumer electronics, vehicle and transportation, hospital, street light, smart store, defense and security, and others.

Visible Light Communication Market: Competitive Analysis

The report provides profiles of the companies in the market such as Outstanding Technology Co. Ltd., LightPointe Communications Inc., Koninklijke Philips, Wireless Excellence Limited, Lightbee Corp, Nakagawa Laboratories, Inc., Casio Computer, Fraunhofer Heinrich, ByteLight, Inc., and PureLifi Ltd.

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