The global FSO market is expected to grow from USD 402 million in 2020 to USD 1,977 million by 2025; it is expected to grow at a CAGR of 37.5% during 2020–2025. The global VLC market is expected to grow from USD 6.3 billion in 2020 to USD 80.3 billion by 2025; it is expected to grow at a CAGR of 66.5% during 2020–2025. Key factors fueling the growth of this market include the alternative solution to overburdened RF technology for outdoor networking, last mile connectivity, faster and safer data transfer than other challenging technologies, and less energy consumption by LEDs. The demand for Li-Fi technology is increasing across the world to provide secure communications with high data bandwidth, and so on various applications such as healthcare, consumer electronics, defense, and commercial create a strong demand for FSO/Li-Fi for efficient industrial operations in the midst of COVID-19.
Key players in the FSO and VLC market comprise companies operating at different stages of the value chain. These include fSONA Networks Corp. (Canada), Wireless Excellence Limited (UK), Signify Holding (Netherlands), Oledcomm (France), Lucibel (France), pureLiFi Limited (UK), Acuity Brands (US), Panasonic Corporation (Japan), Fraunhofer HHI (Germany), and Trimble Hungary (Hungry). Many of these companies focus on adopting both organic and inorganic growth strategies, such as product launches and developments, partnerships, contracts, expansions, acquisitions, and collaborations to strengthen their position in the market.
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Top 2 players in Li-Fi market:
Signify Holding (Netherlands) develops, manufactures, and sells lighting products worldwide. Signify, formerly known as Philips Lighting, became a standalone company following its spin-off from Royal Philips in 2016. It promises to deliver value beyond illumination – an idea that has required the company to think beyond the more functional world of luminaries and embrace some truly visionary thinking. It was the first company to commercially deploy VLC products. It has extended its offerings from a unidirectional VLC platform for an indoor positioning system to a bidirectional VLC platform for providing high-speed internet with Li-Fi.
Oledcomm (France) offers an innovative green wireless communication technology based on smart lighting systems. It develops a Li-Fi solutions portfolio spanning from Li-Fi hubs, Li-Fi routers, switches, power line communication (PLC)/Li-Fi adapters, LED drivers, network power supplies, and DC-DC power supplies to LED lightings, from location-based services to high-speed wireless mobile connections. Oledcomm’s mission is to connect objects and people by transforming 14 billion light points on the planet into a powerful and secure communication network.
Free Space Optics (FSO) and Visible Light Communication (VLC)/Light Fidelity (Li-Fi) Market with COVID-19 Impact Analysis by Component (LED, Photodetector, Microcontroller, Software), Transmission Type, Application, Geography - Global Forecast to 2025
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