Global FSO and VLC/Li-Fi Market Growth Analysis 2024 – Forecast Market Size And Key Factors Driving Growth

Overview and Scope

Free Space Optics (FSO), also known as optical wireless communication, and visible light communication (VLC) or light fidelity (Li-Fi), refer to communication technologies that harness the power of light for wireless data transmission, offering high-speed, secure, and energy-efficient communication solutions for various applications and environments. FSO involves the transmission of data through free space using optical signals, typically infrared or visible light. VLC, also known as Li-Fi when applied to wireless communication, utilizes visible light from LED bulbs to transmit data wirelessly.

Sizing and Forecast

The FSO and VLC/Li-Fi market size has grown exponentially in recent years. It will grow from $3.89 billion in 2023 to $5.37 billion in 2024 at a compound annual growth rate (CAGR) of 38.1%. The growth in the historic period can be attributed to increased urbanization, growth in concern over spectrum congestion, growth in energy-efficient technologies, increased investment in research and development, and increased use of wireless sensors.

The FSO and VLC/Li-Fi market size is expected to see exponential growth in the next few years. It will grow to $19.67 billion in 2028 at a compound annual growth rate (CAGR) of 38.3%. The growth in the forecast period can be attributed to the expansion of 5G networks, increasing adoption of smart city initiatives, expansion of indoor wireless communication, growing use of Li-Fi in automotive, and rising demand for wireless connectivity. Major trends in the forecast period include the adoption of IoT, the adoption of 5G, RF technology, and technological advancements.

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Segmentation & Regional Insights

The FSO and VLC/Li-Fi market covered in this report is segmented –

1) By Component: Light Emitting Diode, Infrared Emitters, Opto-Couplers, Image Sensors
2) By Transmission Type: Unidirectional, Bidirectional
3) By Application: Intelligent Transportation Systems (ITS), Indoor Networking, In-Flight Entertainment And Communication, Health Care And Underwater Communication, Location-Based Services

North America was the largest region in the FSO and VLC/Li-Fi market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the FSO and VLC/Li-Fi market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

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Major Driver Impacting Market Growth

The increasing demand for high-speed wireless connectivity is expected to propel the growth of the FSO and VLC or Li-Fi market going forward. High-speed wireless connectivity refers to the transmission of data at rapid rates through wireless communication channels. The increasing demand for high-speed wireless connectivity can be attributed to several factors, including the growing number of connected devices, the prevalence of bandwidth-intensive applications, and the widespread adoption of remote work practices. High-speed wireless connectivity utilizes free space optics (FSO) for data transmission through beams of light in open air, while visible light communication (VLC) or Li-Fi utilizes light-emitting diodes (LEDs) to transmit data through modulated light, providing efficient and secure wireless communication. For instance, in April 2023, according to 5G Americas, a US-based industry trade organization, there were 1.05 billion 5G wireless connections worldwide by the end of 2022, up 76% from the end of 2021. By the end of 2027, that number is expected to have increased to 5.9 billion. Therefore, the increasing demand for high-speed wireless connectivity is driving the growth of the FSO and VLC or Li-Fi market.

Key Industry Players

Major companies operating in the FSO and VLC/Li-Fi market are Panasonic Corporation, Koninklijke Philips N.V., Signify Holding B.V., Acuity Brands Inc., LightPointe Communications Inc., SLD Laser, Visilink Technologies Inc., fSONA Networks Corporation, pureLiFi Ltd., Plaintree Systems Inc., Lucibel, SkyFiber Inc., Velmenni Research Pvt. Ltd., Infinity Technology Services Inc., Airlinx Communications Inc., VLNComm Inc., Global LiFi Tech Inc., LVX System, Oledcomm, Trimble Inc.

The fso and vlc/li-fi market report table of contents includes:

1. Executive Summary

2. FSO And VLC/Li-Fi Market Characteristics

3. FSO And VLC/Li-Fi Market Trends And Strategies

4. FSO And VLC/Li-Fi Market – Macro Economic Scenario

5. Global FSO And VLC/Li-Fi Market Size and Growth

…

32. Global FSO And VLC/Li-Fi Market Competitive Benchmarking

33. Global FSO And VLC/Li-Fi Market Competitive Dashboard

34. Key Mergers And Acquisitions In The FSO And VLC/Li-Fi Market

35. FSO And VLC/Li-Fi Market Future Outlook and Potential Analysis

36. Appendix

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