DELRAY BEACH, Fla., Oct. 28, 2024 /PRNewswire/ -- The FSO & VLC/Li-Fi market was valued at USD 2.78 billion in 2024 and is projected to reach USD 7.39 billion by 2029, growing at a CAGR of 21.6% from 2024 to 2029 according to a new report by MarketsandMarkets. The primary factor driving the growth of VLC/Li-Fi market is the faster and safer data transfer. Data transmission through VLC/Li-Fi is more secure and achieves high data rates compared to conventional wireless technologies such as Wi-Fi, Bluetooth, and Worldwide Interoperability for Microwave Access (WiMAX), which use radio waves for communication. Since light waves do not penetrate walls, they cannot be intercepted and misused. A networking speed of 100 Mbps can easily be obtained with the use of the VLC technology using LEDs.
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Browse in-depth TOC on "FSO & VLC / Li-Fi Market"
215 - Tables
75 - Figures
255 - Pages
FSO & VLC / Li-Fi Market Report Scope:
Report Coverage | Details |
Market Revenue in 2024 | $ 2.78 billion |
Estimated Value by 2029 | $ 7.39 billion |
Growth Rate | Poised to grow at a CAGR of 21.6% |
Market Size Available for | 2020-2029 |
Forecast Period | 2024-2029 |
Forecast Units | Value (USD Million/Billion) |
Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
Segments Covered | By Component, Transmission Type, Application, Vertical and Region |
Geographies Covered | North America, Europe, Asia Pacific, and Rest of World |
Key Market Challenge | Lack of technological awareness |
Key Market Opportunities | Growing adoption of Li-Fi in various industries |
Key Market Drivers | Limited last-mile connectivity |
The IT & telecommunications in FSO vertical segment are expected to record the highest CAGR during the forecast period.
The IT & telecommunications vertical holds the largest market share in the FSO market, and this trend is expected to continue during the forecast period. FSO systems typically have lower latency compared to radio-based solutions, which is important for real-time applications. The FSO technology can alleviate data traffic from congested fiber networks, thereby increasing overall network capacity. Additionally, FSO can act as a backup or redundant communication link in the event of fiber optic cable failures.
The bidirectional segment in VLC/Li-Fi transmission type segment held a larger share of the market in 2023.
The bidirectional segment held a larger share of the market in 2023, and this trend is projected to continue during the forecast period. Unidirectional VLC offers unidirectional and point-to-point light communication at low data rates, while the bidirectional VLC technology enables fully networked, bidirectional, and high-speed wireless communication. The bidirectional technology is projected to be adopted by all the major verticals.
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The VLC/Li-Fi market in Asia Pacific region is projected to record the highest CAGR during the forecast period.
The market in the Asia Pacific is projected to record the highest CAGR during the forecast period. The region has the largest customer base globally, and digital technologies, including VLC, have seen significant adoption. Major factors encouraging the growth of this market in the Asia Pacific include the adoption of smartphones, a rise in the number of internet users (41.9 per 100 inhabitants), a surge in the need for connectivity, focus on improving existing networks and establishing new connectivity networks, and the increase in bandwidth-intensive applications such as video-on-demand services. The growth of the VLC/Li-Fi industry is largely driven by the surge in internet users in China and India due to the rapid increase in the use of high-speed broadband networks and mobile devices in these countries.
The report profiles key players in VLC/Li-Fi companies such as Signify Holding (Netherlands), Lucibel SA (France), fSONA Networks Corp. (Canada), Wireless Excellence Limited (UK), Oledcomm (France), pureLiFi (UK), and Acuity Brands, Inc. (US).
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