VLC Market to grow at 90 percent CAGR
The Visible Light Communication (VLC) market was valued around $300 million in 2014 and is expected to grow at at least 90 percent CAGR over the forecast period to exceed $10 billion by 2023, according to Global Market Insights, a US market research company.
VLC, also referred to as Li-Fi, uses LEDs for data transmission. VLC systems can be unidirectional or bidirectional and can be categorised by data rate and by operating distance (typically up to 10m and above 10m).
A major factor contributing to the growth of this market is the opening up a new area of bandwidth (visible light) for communications. Lack of standardisation and complexity in simultaneous data transmit and receipt within the same module, however, could hamper demand over the forecast period, according to Global Market Insights.
Applications include connected devices, underwater communication, automobile & transport, retail indoor positioning, hospitality, in-flight infotainment, communications and light-based internet.
Manufacturers include Axrtek, Outstanding Technology, LightPointe Communications, Koninklijke Philips, Wireless Excellence, Lightbee, Nakagawa Laboratories, Casio Computer, Fraunhofer Heinrich, ByteLight, PureLifi Ltd, LVX System, Gallium Lighting LLC, Supreme Architecture, Fsona Networks, and General Electric Company among others.