Global Market Size, Forecast, and Trend Highlights Over 2025 – 2037
Visible Light Communication Market size was over USD 1.76 billion in 2024 and is projected to reach USD 107.43 billion by 2037, witnessing around 37.2% CAGR during the forecast period i.e., between 2025-2037. In the year 2025, the industry size of visible light communication is assessed at USD 2.28 billion.
This growth in the market is dominated by the growing consumption of the internet. Globally, about 6 billion people in 2022 were estimated to be internet users, compared to 5 billion in 2021. Owing to this, there has been growing innovation in technology, which has further led lighting technology to set its feet on visible lighting communication. Hence, with the guidance of visible light technology, the rising demand for the internet could be resolved since it provides high-speed internet.
Additionally, VLC signals are most suitable for security-related applications since they are incapable to flow through barriers. Additionally, they are also considered secure for use in petrochemical plants and mining environments owing to their VLC technology. Therefore, with the surge in demand for oil and the growing extraction of resources, the demand for visible light technology is poised to grow in the market.
Visible Light Communication Market: Growth Drivers and Challenges
Growth Drivers
- Growth in the Adoption of Automotive From about 65 million vehicles sold in the world in 2021 to approximately 66 million vehicles sold globally in 2022. Therefore, owing to this, the use of visible light communication is also set to rise. Due to the presence of car lights and the infrastructure of traffic signals already in effect, it is extensively employed in vehicular communication. This could involve cooperative forward collision warning, emergency electronic brake lights, pre-crash sensing, lane change warning, left turn assistant, stop sign movement assistant, traffic signal violation warning, and curve speed warning.
- Rise of its Application in the Healthcare Industry Visible light communication has been observed to be of great use in hospitals since hospitals consist of electromagnetic wave-sensitive areas (such as MRI scanners and operation theatres). Due to the fact that this spectrum does not interact with the RF spectrum, VLC is anticipated to be useful in these locations.
- Advancement in Educational Institutions There has been a growing adoption of digitalization in educational institutions. Therefore, the need for high-speed data is also growing, which could be further satisfied with the installation of LED lights, further enabling visible light communication. Universities and colleges could save money on energy costs and provide high-speed internet access by installing LED lighting. In educational institutions, Li-Fi, one of the applications of visible light technology, is expected to totally replace Wi-Fi.
Challenges
- Short Coverage Range Since it Operates on Light
- Lack of Awareness Among People – Visible light communication technology is unknown to a large number of people. Especially in developing nations, owing to the lack of infrastructure progress, the adoption rate has been quite low. Also, the various rural parts of the world are unaware of the use of the internet. Hence, this factor is set to restrict the growth of the market.
- High Cost of Installation
Visible Light Communication Market: Key Insights
|
Base Year |
2024 |
|
Forecast Year |
2025-2037 |
|
CAGR |
37.2% |
|
Base Year Market Size (2024) |
USD 1.76 billion |
|
Forecast Year Market Size (2037) |
USD 107.43 billion |
|
Regional Scope |
|
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Customize this ReportVisible Light Communication Industry- Regional Synopsis
North American Market Forecast
The North America visible light communication market is set to have the largest growth by the end of 2037, backed by the growing adoption of LED lights. Between 2017 and 2037, it is expected that there would be a rise in the number of LED light installations in the United States, from about 2 billion units installed in 2017 to around 8 billion units in 2037. Additionally, the investment in R&D for the innovation of artificial intelligence, big data analytics, and sustainable energy is growing. Hence, this factor is also poised to have an influence on the visible light communication market in this region.
APAC Market Statistics
The visible light communication market in Asia Pacific is also estimated to grow over the forecast period. The growth of the market in this region can be attributed to rising smart city initiatives by the government. The Internet of Things (IoT) has a huge impact on the idea of smart cities. Further, combining Li-Fi and IoT could significantly improve smart cities. Hence, the adoption of visible light communication is anticipated to rise. Moreover, large-scale connectivity would be also made feasible by Li-Fi, which would also automate a number of smart city activities. In a large number of Asia Pacific nations LED lights have already been installed and are currently used to light up most public areas. Therefore, it is also anticipated to boost visible light communication market demand in this region.
Companies Dominating the Visible Light Communication Market
- LVX System
- Company Overview
- Business Strategy
- Key Product Offerings
- Financial Performance
- Key Performance Indicators
- Risk Analysis
- Recent Development
- Regional Presence
- SWOT Analysis
- Panasonic Holdings Corporation
- Lucibel SA
- Koninklijke Philips NV
- Firefly Networks LTD
- Bytelight Inc.
- Purelifi Ltd
- Oledcomm
- Outstanding Technology Ltd
- Axrtek Enterprises (P) LTD
In the News
- A new agreement to provide the US Army with Kitefin, a next-generation optical wireless communication system utilizing LiFi for secure data transmission without radio frequencies, has been announced by pureLiFi, the world leader in LiFi technology.
- The LiFiMAXTab, a tablet with integrated LiFi, was unveiled in Las Vegas during CES 2022 by Oledcomm, a French firm that specializes in LiFi. This tablet's goal is to provide people and businesses who want to take advantage of a new kind of connectivity that combines performance and security with a powerful and affordable option. It is powered by Android and has a LiFi module.
Author Credits: Abhishek Verma
- Report ID: 5021
- Published Date: Nov 08, 2024
- Report Format: PDF, PPT
