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

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.

Key factors fueling the growth of this market include the alternative solution to RF technology for outdoor networking, increasing adoption of FSO in place of RF communication, and high growth of LEDs due to less energy consumption.

High emergence of new applications such as IoT and 5G and growing adoption of Li-Fi in various industries create a strong demand for FSO/Li-Fi for efficient industrial operations. Players in the FSO & VLC/Li-Fi market adopted growth strategies such as product launches, partnerships, collaborations, and strategic alliances to cater to the growing demand for FSO & VLC/Li-Fi systems and expand their global footprint to all the major regions.

The objective of the report is to define, describe, and forecast the FSO & VLC/Li-Fi market based on component, product, application, vertical, and region.

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Key Market Players
Major vendors in the FSO & VLC/Li-Fi market include fSONA Networks Corp. (Canada), Wireless Excellence Limited (UK), Signify Holding (Netherlands), Oledcomm (France), Lucibel (France), pureLiFi Limited (UK), Acuity Brands (US), Panasonic Corporation (Japan), Fraunhofer HHI (Germany), and Trimble Hungary (Hungry), among others.

The most significant one is the reliability issue due to signal degradation during propagation, resulting from environmental interferences such as fog, scintillation, absorption, scattering, and physical obstructions such as birds and trees. The atmosphere has a detrimental impact on optical beams, which worsens as the length of the link increases.

The major challenge to FSO communications is fog. The primary way to counter fog while deploying FSO is through a network design that shortens FSO link distances and adds network redundancies. At present, the fading of signals during propagation due to environmental interference is posing a major challenge of reliability; however, with the advancement in technology, it is expected that a solution would soon be found to this problem.

The Asia Pacific region is forecasted to account for the largest share of the FSO and VLC market by 2028. The FSO and VLC market in the Asia Pacific is expected to grow at the highest CAGR during the forecast period. APAC is a promising market for manufacturers of VLC technology. Japan is considered as a hub for VLC developments in APAC.

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Key application areas in this region are communication, underwater communication, and automotive. Also, as VLC players are focusing on the integration of VLC systems with consumer electronic devices, the market in APAC is projected to grow, as the region has the presence of various leading consumer electronics manufacturers. Outstanding Technology (Japan), Renesas Electronics (Japan), Fujitsu (Japan), Panasonic (Japan), and LG Electronics (South Korea) are actively involved in the R&D activities of VLC technology in APAC.

Recent Developments
• In February 2022, pureLiFi demonstrated the next generation of connectivity for the home at the Mobile World Congress (MWC) in Barcelona. The ground-breaking demonstration features the world's first LiFi ecosystem for the consumer market, named [email protected]™.
• In July 2022, PureLiFi received a £10M boost to their business through a partnership with the Scottish government. The partnership with the Scottish National Investment Bank will enable pureLiFi to develop new technologies further while opening up additional markets in areas such as mobile phones, tablets, wearables, and other connected devices.
• In April 2021, pureLiFi announced a new deal to supply the US Army with Kitefin™, the next-generation optical wireless communication system using LiFi for secure data transmission without radio frequencies.
• In September 2021, Lucibel announced the third generation of their Li-Fi product, named Lucipanel LiFi. The growing interest in LiFi technology on the part of many players (designers and integrators of Li-Fi solutions, manufacturers of smartphones and computers, telecom operators, end customers, etc.) makes it possible to anticipate a rapid acceleration in Li-Fi penetration from the start.
• In September 2020, Panasonic collaborated with Octasic Inc. (Canada), an innovation leader in low-power programmable processors for wireless and multimedia applications, to develop shared eXtended Global Platform (sXGP) solutions to involve 5G and Beyond 5G-based wireless network products, especially for mission-critical applications.

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Frequently Asked Questions (FAQ):
Which are the major applications of Li-Fi? How huge is the opportunity for their growth in the next five years?
Which are the major companies in the Li-Fi market? What are their major strategies to strengthen their market presence?
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