CHICAGO, Jan. 12, 2023 /PRNewswire/ -- The FSO & VLC/Li-Fi market is projected to grow from USD 3.3 billion in 2023 to USD 18.2 billion by 2028, registering a CAGR of 40.3% during the forecast period according to a new report by MarketsandMarkets. The market growth is attributed to the high emergence of new applications such as IoT and 5G and the increasing penetration of FOS as an alternative solution to RF technology for outdoor networking. Furthermore, the growing demand for faster and safer data transfer is expected to create lucrative opportunities for the market.
Download PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=946
Browse in-depth TOC on "FSO & VLC/Li-Fi Market"
140 - Tables
70 - Figures
250 - Pages
Mobile Backhaul FSO application to account for significant share of FSO & VLC/Li-Fi market in 2023
The mobile backhaul application is projected to account for an extensive share of the FSO & VLC/Li-Fi market in 2023. The mobile backhaul application is expected to continue to account for the largest size of the FSO market during the forecast period. The increasing number of mobile devices and high-speed services accelerate the growth of traffic in mobile backhaul networks. For upgraded cellular backhaul, the implementation of FSO technology proves to be a cost-efficient and high-bandwidth solution. Hence, the mobile backhaul application is likely to generate high demand for FSO systems during the forecast period.
Software VLC component to lead FSO & VLC/Li-Fi market during forecast period
The software component is expected to hold higher opportunities than other components between 2023 and 2028. The market for software holds the largest share in the VLC/Li-Fi market and is projected to record the highest growth rate during the forecast period. Due to the commercialization of bidirectional VLC in late 2022, the demand for software solutions is projected to rise and support the uplink and downlink for two-way communications in various applications. Companies in the VLC market are entering into partnerships and collaborations with software and app development companies to develop apps and software for VLC systems. Acuity Brands (US) partnered recently with Spatial DNA (Canada) to introduce the Atrius IoT Partner program and leverage location-based data provided by Atrius Platform Services and Atrius-Ready Sensory Networks to build mobile applications for indoor navigation and enterprise workflows.
Request Sample Pages: https://www.marketsandmarkets.com/requestsampleNew.asp?id=946
Asia Pacific market to offer significant opportunities during forecast period
Asia Pacific is the leading FSO & VLC/Li-Fi market, with significant demand from China, India, and Japan. The region held the largest share of the FSO & VLC/Li-Fi industry in 2022. The market in the Asia Pacific region is expected to grow at the highest CAGR during the forecast period. Asia Pacific has the world's largest customer base, and digital technologies adopted in this region have tremendous potential for transformation. The rise in the number of manufacturing facilities, the rapid development of telecommunication infrastructure, and the growing demand for CAD are favoring the growth of the FSO market in the region.
Key players
Key players in the FSO & VLC/Li-Fi market include fSONA Networks Corp. (Canada), Wireless Excellence Limited (UK), Signify Holding (formerly Philips Lighting) (Netherlands), Oledcomm (France), Lucibel (France), PureLiFi Limited (UK), Acuity Brands (US), Panasonic Corporation (Japan), Fraunhofer HHI (Germany), and Trimble Hungary ltd. (Hungary), among others.
Get 10% Free Customization on this Report: https://www.marketsandmarkets.com/requestCustomizationNew.asp?id=946
Browse Adjacent Market: Semiconductor and Electronics Market Research Reports &Consulting
Related Reports:
Smart Lighting Market by Offering (Hardware, Software and Services), Installation Type (New Installations and Retrofit Installations), End Use Application, Communication Technology, and Geography 2026
LED Lighting Market by Installation (New, Retrofit), Product Type (A-type, T-type, Decorative, Directional), Sales Channel (Retail, Direct, E-commerce), Application (Residential, Commercial, Industrial) and Geography - Global Forecast to 2027
Spatial Light Modulator Market by Application (Beam Shaping, Display, Optical, Laser Beam Steering, Holographic Data Storage), Resolution (Less Than 1024*768 PX, EQ or More Than 1024*768 PX), Type and Geography - Global Forecast to 2020
LED Driver Market for Lighting, by Driving Method (Constant Current and Constant Voltage), Luminaire Type (A-Type, T-Lamps, Reflectors, Integral Modules), Components (Driver IC and Discrete), End User Application, and Geography - Global Forecasts to 2022
Lighting Control System Market by Installation Type (New and Retrofit), Offering (Hardware, Software, and Services), End-use Application (Indoor and Outdoor), Communication Protocol, and Geography - Global Forecast to 2024
About MarketsandMarkets
MarketsandMarkets is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.
The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines - TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.
Built on the 'GIVE Growth' principle, we work with several Forbes Global 2000 B2B companies - helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.
To find out more, visit www.MarketsandMarkets.com or follow us on Twitter, LinkedIn and Facebook.
Contact:
Mr. Aashish Mehra
MarketsandMarkets INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA: +1-888-600-6441
Email: sales@marketsandmarkets.com
Visit Our Web Site: https://www.marketsandmarkets.com/
Research Insight: https://www.marketsandmarkets.com/ResearchInsight/visible-light-communication-market.asp
Content Source: https://www.marketsandmarkets.com/PressReleases/visible-light-communication.asp
Logo: https://mma.prnewswire.com/media/660509/MarketsandMarkets_Logo.jpg
View original content:https://www.prnewswire.co.uk/news-releases/fso--vlcli-fi-market-worth-18-2-billion-by-2028---exclusive-report-by-marketsandmarkets-301719995.html
