Visible Light Communication Market, By Component (Image Sensor, Visible Light Diode), By Application (Location Based Service, Indoor Applications, Outdoor Applications), By Vertical (Transportation, Automotive, Defense, Healthcare) - Forecast 2022
— Synopsis of Visible Light Communication Market:
Visible Light Communication (VLC) is a method by which Light Emitting Diode (LED) are utilized to transfer the data by using visible light as a transmission medium. The increasing usage of data over the mobile phones and via other wireless devices, lack of spectrum appears to be one of the major problem for which visible light communication can be offered as a potential solution.
The raising demand of the retails based indoor positioning market due to high traffic and better illumination has paved the way for the growth of the visible light communication market. The increasing demand by retailer to send instant offers to customers in the form of messages to enhance their shopping experience has also anticipated to boost the overall VLC market.
The study also indicates that the increasing investments in the research and development of new products by various key players like General Electric Company, LVX Systems and others are expected to make a revolutionary changes in visible light communication market.
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Key Players in Market:
The prominent players in the Visible Light Communication Market are – fSONA Networks (Canada), General Electric Company (U.S.), Casio Computer Co., Ltd.(Japan), Toshiba Corporation (Japan), Samsung Electronics Co. Ltd. (South Korea), Nitto Denko Corporation (Japan), NEC Corporation (Japan), Fujitsu Ltd. (Japan), Qualcomm, Inc. (U.S.), Panasonic Corporation (Japan) and among others.
Visible Light Communication Market Segmentation:
The Visible Light Communication Market has been segmented on the basis of component, application and vertical. Looking through the component segment it’s been observed that the visible light LEDs segment would grow fastest. In the vertical segment automotive is expected to grow fastest in the visible light communication market. Whereas considering the application segment indoor application is expected to grow, followed by location based services and smart lighting is expected to grow significantly. The study reveals that the outdoor application is expected to grow significantly in the visible light communication market by the forecast period.
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Market Research Analysis:
Regional analysis for visible light communication market is studied in different geographic regions as Americas, Europe, Asia-Pacific and Rest of world. It has been observed that North America region would account for larger share in visible light communication market. The study indicates that North America and Europe held a significant share in the global market on account of heavy applications in transportation, automotive and healthcare sectors.
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