Global demand Free Space Optics (FSO) and Visible Light Communication (VLC) Market was valued at approximately USD 404.1 Million in 2019, and is expected to generate revenue of around USD 4,201.6 Million by end of 2026, growing at a CAGR of around 39.7% between 2020 and 2026
Free Space Optics (FSO) and Visible Lig Market
According to the report published by Zion Market Research, global demand free space optics (FSO) and visible light communication (VLC) market was valued at approximately USD 404.1 Million in 2019, and is expected to generate revenue of around USD 4,201.6 Million by end of 2026, growing at a CAGR of around 39.7% between 2020 and 2026.
Global Free Space Optics (FSO) and Visible Light Communication (VLC) Market: Overview
Free-space optical communication is a communication technology that utilizes the traveling light in the free space such as air, outer space, and vacuum for the communication purpose. This technology is very helpful in situations where the physical connection of optical fiber cable is unreasonable owing to factors such as high costs. While, the visible light communication is a division of optical wireless communications technology, which utilizes the light that is visible between the ranges of 400 to 800 THz in order to send the signals from 1-2 km.
Global Free Space Optics (FSO) and Visible Light Communication (VLC) Market: Segmentation
The fiber space optics market is segmented into its application. On the basis of application, the market is segregated into enterprise connectivity, defense, healthcare, engineering and design, mobile backhaul, disaster recovery, satellite, security, and others. The visible light communication market is globally segmented into its component and transmission type. On the basis of a component, the market is categorized into the photodetector, software, LED, and microcontroller. Depending on the transmission type, the market is divided into bidirectional and unidirectional. The fiber space optics and visible light communication market are diversified into regions such as North America, Asia-Pacific, Europe, and Rest of the World.
Global Free Space Optics (FSO) and Visible Light Communication (VLC) Market: Growth Factors
In the past few years, the demand for faster and secure mediums for transferring the data has increased. This is the key factor that drives the free space optics and visible light communication market. Moreover, the introduction of the communication that is two-way expects to increase the adoption of VLC software owing to its control in numerous applications at a time and allowing to be connected with tablets, mobile phones, and other electronic products. Both these technologies are cleaner and greener, consumes minimum energy, and there is no limitation for the bandwidth or RF spectrum bandwidth crunch. Some other factors that favor the market growth are the assurance of secure and faster transfer of data via visible light communication and free licensing of free space optics is expected to trigger the demand of the market. Factors such as degradation of the signal owing to the interferences from the environment and the high cost of installation hamper the market growth.
Global Free Space Optics (FSO) and Visible Light Communication (VLC) Market: Regional Analysis
North America dominates the market owing to factors such as heavy investments that are made to build a strong telecom infrastructure and the revenue contribution from the developed economies of Canada and the US. Asia Pacific market will expand at a significant rate, owing to large population base and the speedy urbanization in the emerging countries such as South Korea, India, China, and Japan. The rise in the number of manufacturing outlets and the development of the computer-aided design (CAD) industry contribute to the market growth in the Asia-Pacific region.
Global Free Space Optics (FSO) and Visible Light Communication (VLC) Market: Competitive Players
Some of the key market players that are involved in the free space optics include Trimble Hungary Kft, LightPointe Communications, Inc., Wireless Excellence Ltd., fSONA Networks Corp., and Plaintree Systems Inc. The major market players in the visible light communication market include Panasonic Corp., LVX System, General Electric Co., Oledcomm, Koninklijke Philips N.V., and IBSENtelecom.
Global Free Space Optics (FSO) and Visible Light Communication (VLC) Market: Regional Segment Analysis
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