The global Visible Light Communication Applications market size was USD 0.25 Billion in 2022 and is expected to reach USD 4.25 Billion in 2032, and register a rapid revenue CAGR of 37% during the forecast period.

Increasing use of LED Lighting and rising need for high-speed data communication are major factors driving market revenue growth. In contrast to conventional Radio Frequency (RF) technology, VLC technology uses light waves to carry data and has a number of benefits, including faster data transmission rates, reduced latency, and less power usage. The adoption of VLC technology is increasing by these benefits in industries, including indoor positioning, automotive, and healthcare.

Get a sample of the report @ https://www.reportsanddata.com/download-free-sample/7878 

LED lights are becoming more common due to their high energy efficiency and lengthy lifespan. The ability of LED lights to transfer data due to incorporation of VLC technology is rising need for VLC technology. Moreover, rising need for high-speed data connection is also expected to drive market revenue growth during the forecast period. In places, such as hospitals and government buildings, where RF technology is impractical or where security is a concern, VLC technology provides high-speed data transfer.

Furthermore, increasing Smart Cities and government measures to support energy-efficient lighting is another factor driving market revenue growth. VLC technology can be incorporated into LED lights to enable various applications, including asset tracking and interior navigation, which can further the development of smart cities.

However, high implementation costs and restricted application of VLC technology are key factors, which could restrain market revenue growth. In addition, lack of knowledge and interoperability problems is another factor driving, which could restrain market revenue growth.

Competitive Landscape:

• Fujitsu Ltd.
• General Electric Company
• Koninklijke Philips N.V.
• Li-Fi Labs, Inc.
• LightPointe Communications, Inc.
• Lvx System
• Mu-Optics, Inc.
• Oledcomm
• PureLi-Fi Ltd.
• Siemens AG
• Signify Holding

The global market is further segmented into type and application:

Regional analysis provides insights into key trends and demands in each major country that can affect market growth in the region.

• North America (U.S., Canada, Mexico)
• Europe (Germany, U.K., Italy, France, BENELUX, Rest of Europe)
• Asia Pacific (China, India, Japan, South Korea, Rest of APAC)
• Latin America (Brazil, Rest of LATAM)
• Middle East Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)

To request customization of this report @ https://www.reportsanddata.com/request-customization-form/7878 

Thank you for reading our report. We also offer customized report as per client requirement. Kindly connect with us to know more about customization plan and our team will offer you the altered report.

Browse More Reports: 

Refrigerated Transport Market @ https://www.globenewswire.com/news-release/2020/04/16/2017606/0/en/Refrigerated-Transport-Market-To-Reach-USD-23-1-Billion-By-2027-Reports-and-Data.html

Automotive Composite Market @ https://www.globenewswire.com/news-release/2020/06/15/2048432/0/en/Automotive-Composite-Market-To-Reach-USD-10-92-Billion-By-2027-Reports-and-Data.html

Automotive Hydrogen Sensors Market @ https://www.globenewswire.com/news-release/2020/10/08/2105867/0/en/Automotive-Hydrogen-Sensors-Market-To-Reach-USD-176-9-Million-By-2027-Reports-and-Data.html

Automotive Fabric Market @ https://www.globenewswire.com/news-release/2019/02/25/1741714/0/en/Automotive-Fabric-Market-To-Reach-USD-31-3-Billion-By-2026-Reports-And-Data.html

Connected Automotive Infotainment System Market @ https://www.globenewswire.com/news-release/2019/04/01/1790699/0/en/Connected-Automotive-Infotainment-System-Market-To-Reach-USD-53-28-Billion-By-2026.html

About Reports and Data

Reports and Data is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target and analyze consumer behavior shifts across demographics, across industries and help clients make a smarter business decision. We offer market intelligence studies ensuring relevant and fact-based research across a multiple industries including Healthcare, Technology, Chemicals, Power and Energy. We consistently update our research offerings to ensure our clients are aware about the latest trends existent in the market. Reports and Data has a strong base of experienced analysts from varied areas of expertise.

Contact Us:

John W

(Head of Business Development)

Reports and Data | Web:www.reportsanddata.com

Direct Line:+1-212-710-1370

E-mail:sales@reportsanddata.com

Blogs|Press Release|Industry News|Our competencies

Browse MoreUpcoming Reports @https://www.reportsanddata.com/upcoming-reports

Browse More Latest Reports @https://www.reportsanddata.com/report