VLC market to grow at 90% annually

August 25, 2016 //By Julien Happich
Growing at a whopping 90% CAGR over the next six years, the Visible Light Communication (VLC) market valued around $300 million in 2014 is expected to exceed $10 billion by 2023, according to market research firm Global Market Insights.

Using LEDs for data transmission, VLC (or Li-Fi) systems can be unidirectional or bidirectional and can be categorised by data rate and by operating distance (up to 10m and over 10m).

According to Global Market Insights, a major factor contributing to the growth of this market is the opening up of a new area of bandwidth (visible light) for communications. Lack of standardisation and complexity in simultaneous data transmit and receive within the same module, however, could hamper demand over the forecast period.

Applications include connected devices, underwater communication, automobile & transport, retail indoor positioning, hospitality, in-flight infotainment/communications and light-based internet.

Manufacturers considered in the report 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.

www.globalinsights.com