Visible Light Communication Market

Executive Summary

Visible Light Communication Market was valued at US $8.69 billion in 2021 and is projected to grow at 37.95% CAGR over the forecast period to reach US $59.88 billion by 2027. Visible Light Communication Market represented US $4.12 billion opportunity over 2019-2021 and estimated to create US $51.19 billion opportunity in 2027 over 2021.

Visible Light Communication from Consainsights analyses the Visible Light Communication Market in the Technology & Media industry over the forecast period to 2027.

Visible Light Communication research report from Consainsights outlines the detailed strategic analysis, trends, market opportunities, growth prospects, industry and market challenges and sustainable solutions to sustain in the competitive environment.

Visible Light Communication segmentation includes Component, Transmission Type, Application and Geography.

Based on the Component, the Visible Light Communication analysis covers Light Emitting Diodes, Photodetectors, Microcontrollers, Software and Services.

In Component segment, Light Emitting Diodes segment has highest cagr growth of 33.10%.

Based on the Transmission Type, the Visible Light Communication analysis covers Uni-directional, Bi-directional.

In Transmission Type segment, Uni-directional segment has highest cagr growth of 33.10%.

Based on the Application, the Visible Light Communication analysis covers Consumer Electronics, Defense and Security, Transportation, Public Infrastructure, Life Sciences, Other Applications.

In Application segment, Consumer Electronics segment has highest cagr growth of 33.10%.

Based on the region, the Visible Light Communication analysis covers North America, Europe, Asia-Pacific, Middle-East & Africa, Latin America.

Key companies operating in the market include Koninklijke Philips NV, LVX System, Bytelight Inc. (A Acuity Brand’s Company), Panasonic Corporation, Purelifi Ltd, Oledcomm, Lucibel SA, Outstanding Technology Co. Ltd, Axrtek Company, Firefly Wireless Networks LLC and so on. This report covers the detailed analysis of the company profiles such as business segments, product portfolio, key brand insights and growth strategies adopted, company SWOT and Strategy analysis along with the financial analysis and analyst insights on the key companies operating in this market.

Market Overview

Definition & Scope

The base currency considered was the US Dollar (USD). Conversion of other currencies to USD was considered on the basis of the average exchange rate for the respective review-period years. The exchange rate conversion for forecast period was determined according to the base year’s conversion rates.

The base year was identified based on the availability of annual reports and secondary information. The base year considered for this study is 2027.

The review period considered for this study is from 2018-2027. The CAGR is for the forecast period, 2022-2027.

Market size estimations for the forecast years were in real terms. Inflation is not part of the pricing, and the average selling price (ASP) was kept constant throughout the forecast period for each country.

Distribution of primary interviews conducted was based on the regional share of the market and the presence of key players in each region.

As a result of data triangulation through multiple methodologies and approaches, the weighted averages of resulting estimates were considered to be the final values.

Currency, Year & Forecast

The currency used in this report is USD, with the market size indicated in terms of USD million/billion.

For companies reporting their revenues in USD, the revenues were taken from their respective annual reports/SEC filings.

For companies reporting their revenues in other currencies, the average annual currency conversion rates were used for a particular year to convert the value to USD Market Definition.

Component

Introduction

In 2021, Light Emitting Diodes segment has the highest revenue of US $3.83 billion and is expected to grow at CAGR of 33.10% by 2027 Light Emitting Diodes segment has highest cagr growth of 33.10%.

Light Emitting Diodes

Light Emitting Diodes segment was valued at US $2.01 billion in 2019 and is projected to grow at 33.10% CAGR over the forecast period to reach US $26.41 billion by 2027. Light Emitting Diodes segment represented US $1.82 billion opportunity over 2019-2021 and estimated to create US $22.58 billion opportunity in 2027 over 2021.

Photodetectors

Photodetectors segment was valued at US $1.10 billion in 2019 and is projected to grow at 33.10% CAGR over the forecast period to reach US $14.45 billion by 2027. Photodetectors segment represented US $1.00 billion opportunity over 2019-2021 and estimated to create US $12.35 billion opportunity in 2027 over 2021.

Microcontrollers

Microcontrollers segment was valued at US $0.74 billion in 2019 and is projected to grow at 33.10% CAGR over the forecast period to reach US $9.69 billion by 2027. Microcontrollers segment represented US $0.67 billion opportunity over 2019-2021 and estimated to create US $8.29 billion opportunity in 2027 over 2021.

Software and Services

Software and Services segment was valued at US $0.71 billion in 2019 and is projected to grow at 33.10% CAGR over the forecast period to reach US $9.33 billion by 2027. Software and Services segment represented US $0.64 billion opportunity over 2019-2021 and estimated to create US $7.98 billion opportunity in 2027 over 2021.

Transmission Type

Introduction

In 2021, Uni-directional segment has the highest revenue of US $3.99 billion and is expected to grow at CAGR of 33.10% by 2027 Uni-directional segment has highest cagr growth of 33.10%.

Uni-directional

Uni-directional segment was valued at US $2.10 billion in 2019 and is projected to grow at 33.10% CAGR over the forecast period to reach US $27.49 billion by 2027. Uni-directional segment represented US $1.89 billion opportunity over 2019-2021 and estimated to create US $23.50 billion opportunity in 2027 over 2021.

Bi-directional

Bi-directional segment was valued at US $1.38 billion in 2019 and is projected to grow at 33.10% CAGR over the forecast period to reach US $18.05 billion by 2027. Bi-directional segment represented US $1.24 billion opportunity over 2019-2021 and estimated to create US $15.43 billion opportunity in 2027 over 2021.

Application

Introduction

In 2021, Consumer Electronics segment has the highest revenue of US $3.56 billion and is expected to grow at CAGR of 33.10% by 2027 Consumer Electronics segment has highest cagr growth of 33.10%.

Consumer Electronics

Consumer Electronics segment was valued at US $1.87 billion in 2019 and is projected to grow at 33.10% CAGR over the forecast period to reach US $24.51 billion by 2027. Consumer Electronics segment represented US $1.69 billion opportunity over 2019-2021 and estimated to create US $20.95 billion opportunity in 2027 over 2021.

Defense and Security

Defense and Security segment was valued at US $1.15 billion in 2019 and is projected to grow at 33.10% CAGR over the forecast period to reach US $15.05 billion by 2027. Defense and Security segment represented US $1.04 billion opportunity over 2019-2021 and estimated to create US $12.86 billion opportunity in 2027 over 2021.

Transportation

Transportation segment was valued at US $0.70 billion in 2019 and is projected to grow at 33.10% CAGR over the forecast period to reach US $9.15 billion by 2027. Transportation segment represented US $0.63 billion opportunity over 2019-2021 and estimated to create US $7.82 billion opportunity in 2027 over 2021.

Public Infrastructure

Public Infrastructure segment was valued at US $0.33 billion in 2019 and is projected to grow at 33.10% CAGR over the forecast period to reach US $4.29 billion by 2027. Public Infrastructure segment represented US $0.30 billion opportunity over 2019-2021 and estimated to create US $3.66 billion opportunity in 2027 over 2021.

Life Sciences

Life Sciences segment was valued at US $0.33 billion in 2019 and is projected to grow at 33.10% CAGR over the forecast period to reach US $4.26 billion by 2027. Life Sciences segment represented US $0.29 billion opportunity over 2019-2021 and estimated to create US $3.64 billion opportunity in 2027 over 2021.

Other Applications

Other Applications segment was valued at US $0.20 billion in 2019 and is projected to grow at 33.10% CAGR over the forecast period to reach US $2.63 billion by 2027. Other Applications segment represented US $0.18 billion opportunity over 2019-2021 and estimated to create US $2.25 billion opportunity in 2027 over 2021.