Visible Light Communication Market to Expand with a CAGR of 109.2% due to Extensive Application in Numerous Industries

-
Transparency Market Research (TMR) observes, the global visible light communication market is highly competitive due to presence of number of companies operating in the market. In order to gain competitive edge, these players are increasingly taking part in to research and product improvement. The key players operating in the market are PureLiFi, Ltd, General Electric Company, Axrtek Outstanding Technology, Co., LVX System, and Nakagawa Laboratories, Inc. Some of these players are taking part in to making the revolutionary changes by focus on developing hybrid VLC systems.

The report states that the global visible light communication market is expected to attain value of about US$113.27 bn by the end of 2022, rising from valuation of US$267.6 mn that registered in 2014. Over the forecast period from 2015 to 2022, the global visible light communication market is predicted to expand with a CAGR of 109.2%. Based on end users, the retail indoor positioning segment accounted for the leading position in overall market and is expected to expand at a CAGR of 93.82% over the forecast period from 2015 and 2022.

Benefits of Visible Light Communication to Benefit Growth of the Market

Growing number of Internet users globally coupled with increasing demand for advanced communication technology has togetherly resulted in substantial growth in the demand for visible light communication (VLC) solutions. Additionally, emerging wireless traffic handling in the indoors is also leading to augment growth of the usage of visible light communication in retail indoor positioning. These aforementioned factors are fuelling growth of the visible light communication market and likely to influence over the forecast period. In addition, the rise of retail indoor positioning segment due to high traffic and better illumination has supported growth of the visible light communication market. Additionally, benefits of visible light communication over other technologies with no requirement of additional infrastructure and better accuracy. The growth of the market is attributable to the aforementioned factors.

Additionally, growing demand from retailers in order to boost shopping experience of retail consumers by making them aware of product offers on products and their availability. While, some of the consumer and sellers demands the advanced technology such as VLC for accurate and quick results. Thanks to these factors, VLC is expected to compete and win a race against technologies such as Wi-Fi and Bluetooth in the upcoming years.


Poor Infrastructure Hampers Adoption of VLC

Despite these factors, presence and easy availability of alternative technologies such as Bluetooth, sensor fusion, Wi-Fi, and LTE-direct are the limiting growth of the visible light communication market. Additionally, the existing infrastructure across the sectors such as healthcare, transport, and retail has be to be replaced and which is negatively impacting on growth of the overall market. 

Comments

Post a Comment

Popular posts from this blog

Oil and Gas Terminal Automation Market: To Reflect Impressive Growth Rate By 2019 - 2027

-
  Global  Oil and Gas Terminal Automation Market : Overview A sturdy growth rate, compounded annually, will be recorded in the global oil and gas terminal market, states Transparency market Research (TMR), for the period of 2019 to 2027. It will be driven forward on to a high growth trajectory at the back of a number of growth factors. Some of these are low oil prices and growing demand for natural gas across a number of varied industry verticals. Demand for oil and gas will also be pushed up by growing population for its energy and fuel needs. This in turn will require more exploration, extraction, better storage and robust distribution. And, this again would lead to demand for oil and gas terminal automation. Therefore, the market will be rife with new opportunities of growth in this period. And, as per TMR, the players would do their best to make the most of these. Global Oil and Gas Terminal Automation Market: Competitive Landscape Global oil and gas terminal automation market is a
Read more

Military Land Vehicle Electronics Market: Latest Trends and Forecast Analysis up to 2019 - 2027

-
Global Military Land Vehicle Electronics Market – Introduction Military land vehicle electronics are used in military land vehicles to enable navigation, communication, and observation in the exchange of intra-vehicular or inter-vehicular information. They are used in the military to increase warfare capabilities in surveillance, intelligence, and reconnaissance missions. This is expected to enhance the demand for military land vehicle electronics across the world.  The growing trend of an open reference architecture system is augmented by an increasing need for military land vehicle electronics, which is turn is expected to fuel the market. Besides, armored fighting vehicles (AFVs) are equipped with networked information technology, so as to provide them with combat capabilities and optimal situational awareness. This in turn is expected to boost the military land vehicle electronics market over the forecast period. Key Drivers of the Military Land Vehicle Electronics Market
Read more

Impact Sensing Door Unlock System Market will Generate New Growth Opportunities By 2019 - 2027

-
  Impact Sensing Door Unlock System : Introduction The impact sensing door unlock system unlocks the door automatically without a key, it can be operated through a mobile application. The impact sensing door unlock system consists of sensors and an electronic control unit, wherein the sensors receive a signal from the wireless system and transmits that signal to the electronic control unit. The electronic control unit is wired to the central lock, which in turn unlocks or locks all the doors of the vehicle. Key Drivers of Impact Sensing Door Unlock System Market Rise in demand for safety and security features in a vehicle is estimated to boost the impact sensing door unlock system market. Every vehicle manufacturer is trying to boost the integration of advanced safety features, including center locking system with impact sensing door unlock system that is activated through a mobile application. This in turn is projected to fuel the demand for the impact sensing door unlock system. Incr
Read more