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. The growing use of FSO & VLC/Li-Fi technology as an alternative solution to RF technology for outdoor networking, the high growth of LEDs due to less energy consumption, and the growing adoption of Li-Fi in various industries are expected to propel the FSO & VLC/Li-Fi market in the next five years. However, the high installation price of FSO solutions and the fact that Li-Fi only works in direct LoS are likely to pose challenges for the industry players.
Key players operating in the 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. Major strategies adopted by top players to enhance their product portfolios, increase their market share, and expand their presence in the market include new product launches and deals such as acquisitions and partnerships.
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Signify Holding (formerly Philips Lighting) develops, manufactures, and sells lighting products worldwide. On 7 May 2016, the annual general meeting (AGM) of shareholders approved the separation of the lighting business from Koninklijke Philips NV. On 27 May 2016, Philips Lighting NV was listed on Euronext Amsterdam and started trading under the ticker symbol LIGHT. The company is listed on the Amsterdam Stock Exchange as AMS: LIGHT. In May 2018, Signify became the new company, renamed Philips Lighting. The firm is a global market leader with recognized expertise in developing, manufacturing, and applying innovative green, energy-efficient lighting products, systems, and services. It operates through three segments: Digital Solutions, Digital Products, and Conventional Products. Philips LiFi systems offer an ideal solution for businesses and organizations that require the next level of internet connectivity. The company offers a range of LiFi systems, providing two-way wireless communication that provides consistent high-speed connectivity, unique physical security, and low latency for real-time data streaming. Among various applications, it adds value in areas such as banking, government, and healthcare.
Lucibel develops, manufactures, and sells lighting solutions and services based on LED technology. These solutions are innovation-centered and take advantage of the major potential of LED technology, notably for smart lighting applications and new uses such as indoor localization (with VLC) and internet access through Li-Fi. The company offers professional lighting products to offices, health facilities, schools, shops, and restaurants. It also produces and sells accessories, such as frames, suspension cables, aluminum profiles and flanges, drivers, transformers, and controllers. The firm has two production and assembly sites, one in Barentin (France) and another in Montreuil (France). Lucibel provides VLC products under “LiFi by Lucibel” and “VLC by Lucibel.” The “LiFi by Lucibel” solution enables the deployment of a full wireless network through a bidirectional line rate of up to 42 Mbps. The Lucibel Li-Fi system offers high-speed mobile connectivity within a network while supporting multiple access. The VLC system developed by Lucibel is a state-of-the-art technology for light-based interaction and geolocation.
FSO & VLC/Li-Fi Market by FSO Component, FSO Application, FSO Vertical, VLC Component (LED, Photodetector, Microcontroller, Software), Transmission Type, VLC Application and Region (Americas, Europe, Asia Pacific and RoW) - Global Forecast to 2028
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