Global FSO and VLC/Li-Fi Market Size Forecast 2024 - 2033
19 Dec, 2024
What Is The Scope Of The Global FSO and VLC/Li-Fi Market?
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.
FSO and VLC/Li-Fi Global Market Report 2024 provides data on the global fso and vlc/li-fi market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The FSO and VLC/Li-Fi market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.
How Is The Global FSO and VLC/Li-Fi Market Expected To Grow In Size And Annual Rates?
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.
What Main Forces Are Fueling Expansion In The FSO and VLC/Li-Fi Market?
The increasing demand for high-speed wireless connectivity is set to drive the growth of the FSO and VLC or Li-Fi market in the coming years. High-speed wireless connectivity involves rapid data transmission through wireless communication channels, driven by a rising number of connected devices, bandwidth-intensive applications, and the widespread adoption of remote work practices. Free Space Optics (FSO) technology facilitates data transmission via light beams in open air, while Visible Light Communication (VLC) or Li-Fi utilizes light-emitting diodes (LEDs) for secure, efficient wireless communication. For example, by April 2023, 5G Americas reported a significant increase in global 5G wireless connections, reaching 1.05 billion by the end of 2022, marking a 76% rise from the previous year. Projections suggest this figure could rise to 5.9 billion connections by the end of 2027. Therefore, the increasing demand for high-speed wireless connectivity is propelling the growth of the FSO and VLC or Li-Fi market.
Get Your Free Sample of the Global FSO and VLC/Li-Fi Market ReportWhat Are The Primary Segments In The Global FSO and VLC/Li-Fi Market?
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
Which Key Trends Are Driving Changes In The FSO and VLC/Li-Fi Market?
In the FSO and VLC or Li-Fi markets, companies are developing advanced technologies such as light antenna modules to boost communication efficiency. Light antenna modules are compact devices designed for wireless communication using light waves, commonly utilized in technologies like LiFi and VLC. For instance, in February 2023, pureLiFi Ltd., a UK-based tech company, introduced Light Antenna ONE, a LiFi module intended for hardware integration. This small antenna, about the size of a US dime, is designed to facilitate the widespread integration of LiFi into connected devices and smartphones. It aims to offer high performance, compactness, affordability, and production suitability, allowing manufacturers to easily integrate LiFi technology.
What Is The Leading Region In The FSO and VLC/Li-Fi Market?
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.