The Visible Light Communication Market is expected to increase at 125.25% CAGR to register revenue of $901.23 million by 2023

Europe remained the significant market for VLC developments in 2017. The visible light communications market for Europe will dominate at a growing CAGR of 119.49% to reach value of $545.41 million by 2023. Americas region for visible light communications market is estimated to have a rapid growth rate of CAGR 142% to reach a value of $261.11 million by 2023 from $1.3 million in 2017. U.S. is the early adopter of the VLC technology in the Americas region and has been improving the technology penetration across all the industry. Asia-Pacific will face lower adoption of vision light communication products as low awareness regarding the benefits of these products will hinder the penetration. The APAC market is expected to grow at a CAGR of 130.45% to reach a value of $104.84 million by 2023.

Visible light communications technology is categorized into two components that include Access Points and Stations Points. Access points segment is the dominating segment for visible light communication market. The Access point market is expected to grow at a CAGR of 116.7% to reach value of $508.78 million by 2023. Light source such as fluorescent light, LED, light spectrum and others are used for illumination and transmitting photonic signals simultaneously. In Access Station market, the retail segment is the leading segment to gain highest revenue in the market. Station point segment is the fastest growing segment, increasing at CAGR of 144.08% to reach value of $401.74 million by 2023. In station point market, commercial segment is the leading vertical and is expected to continue its dominance for the forecast period of 2018-2023. 

Improvement in performance of efficient and durable LED light base for industrial and domestic applications for indoor and outdoor use coupled with advancement in technology created scope for development of VLC systems. 

Strong increasing demand in indoor positioning and monitoring systems in end use sector, and personalised services, high bandwidth requirements will help the market to grow further.

Rapid adoption of communication technology and exponential increase in the number of internet users is projected to drive the market in next few years. 

OLEDCOMM S.A.S, PureLiFi, Firefly Wireless Networks, and Axrtek are the dominant players in the visible light communication market. OLEDCOMM S.A.S. such lists of products its offering SINCEEEE are GEOLiFi and LiFiNET used in applications like Museums and Art Gallery, Retails, Hospitals, Offices and Smartcities. PureLiFi Ltd. has product like LiFi – X and Li-Flame. The product are used for Mobile Connectivity, Smart Lighting, Hazardous Environments, RF light Spectrum Relief, Vehicles and Transportation and Location based Services. Firefly Wireless Networks comprises products as Office SecureLink, M2M SecureLink, Transit SecureLink, Vehicle SecureLink used for Secure Network Access, Factories, Consumer electronics, Hospitals, Vehicles, Train stations, Underwater Applications, nuclear and public utilities and others.