NEW YORK, Aug. 30, 2017 /PRNewswire/ -- The free space optics (FSO) market is expected to grow at a CAGR of 41.4% between 2017 and 2022, to reach USD 1,198.9 million by 2022 from USD 212.4 million in 2017. This growth can be attributed to the last mile connectivity, free licensing of FSO system, and alternative solution for overburdened RF technology for outdoor networking. However, the degradation of signals due to environmental interference and high installation cost restrict the growth of the FSO market. On the other hand, the visible light communication (VLC) market is expected to grow at a CAGR of 62.9% between 2017 and 2022, to reach USD 14.91 billion by 2022 from USD 1.30 billion in 2017. The major factors driving this growth are faster and safer data transfer than other competing technologies; RF spectrum bandwidth crunch; no bandwidth limitation and less energy consumption; and greener, cleaner, and safer technology. However, the dominance of competing technologies and short range and requirement of direct LOS could restrict the growth of the VLC market.
"Healthcare and hazardous environment are expected to be the fastest-growing applications of FSO and VLC markets, respectively, during the forecast period"
The healthcare and hazardous environment applications of FSO & VLC, respectively, are expected to grow at the highest rate between 2017 and 2022. FSO is hugely deployed in the healthcare application where wireless communication through radio waves is not allowed due to potential health hazards. On the other hand, the rapid adoption of new technologies in hazardous situations and the unavailability of any substitute for communication in this environment make the hazardous environment one of the fastest-growing VLC applications.
"LED held the largest market share in 2016 but software is expected to be the dominant market of VLC component by 2022"
The LED component of VLC led the overall VLC market in 2016 as LED is used as a main source of light that acts as a medium of transmission in the VLC technology. The software is also a major component of the VLC market and is expected to be the largest market by 2022. This is mainly due to the expected emergence of various bidirectional communication applications by 2022.
"Americas is the largest shareholder, whereas APAC would be the fastest-growing region of the FSO and VLC markets during the forecast period"
The Americas held the largest share of the FSO & VLC markets in 2016 due to the huge investments in telecom infrastructure, government funding, and increasing military expenditure in FSO technology as well as the government funding and deployment of several VLC systems in the public and commercial places. However, the APAC market is expected to grow at the highest rate in the FSO market between 2017 and 2022. The increasing manufacturing facilities, advanced infrastructure, and the growing computer-aided design (CAD) industry would drive the FSO market, while the recent developments and increased expenditure on VLC-related R&D activities would drive the VLC market in APAC.
The breakup of primaries conducted during the study is depicted below:
By Company Type: Tier 1 – 55%, Tier 2 – 20%, and Tier 3 – 25%
By Designation: C-Level Executives – 50%, Directors – 25%, and Managers – 25%
By Region: Americas – 60%, Europe – 20%, APAC – 10%, and RoW – 10%
Some of the key players in the FSO market include are LightPointe Communications, Inc. (U.S.), fSONA Networks Corp. (Canada), Plaintree Systems Inc. (Canada), Wireless Excellence Ltd. (U.K.), and Trimble Hungary Kft. (Hungary), among others. The key players in the VLC market include Koninklijke Philips N.V. (Netherlands), General Electric Co. (U.S.), ByteLight, Inc. (Acuity Brands, Inc.) (U.S.), Panasonic Corp. (Japan), LVX System (U.S.), Oledcomm (France), pureLiFi Ltd. (U.K.), LightBee Corp. (Spain), Outstanding Technology Corp. (Japan), IBSENtelecom (Norway), and Supreme Architecture Inc. (U.S.), among others.Factors such as affordable extension in fiber network, increasing number of space research programs, and replacement of old technologies with FSO technology for enterprise connectivity are expected to generate opportunities for the FSO market. The factors that are expected to create opportunities for the VLC market in the near future are eth global acceptance by electronic device manufacturers, commercialization of the technology for two-way communication, government funding, and emergence of new applications such as IoT and 5G.
This report includes the market statistics pertaining to FSO applications and geography, and VLC component, transmission type, application, and geography, along with their respective market size.
• The Porter's five forces framework has been utilized along with the value chain analysis to provide an in-depth insight into the FSO and VLC markets.
• Major drivers, restraints, and opportunities for the FSO and VLC markets have been detailed in this report.
• The opportunities in the market have been defined for stakeholders, along with the details of the competitive landscape for the market leaders.
• The strategic profiling of the key players of the FSO and VLC markets has been provided and their market ranks and core competencies have been comprehensively analyzed.
• The illustrative segmentation, analysis, and forecast for the markets on the basis of application and geography have been conducted to give an overall view of the FSO & VLC markets.
ReportLinker is an award-winning market research solution. Reportlinker finds and organizes the latest industry data so you get all the market research you need - instantly, in one place.
Contact Clare: email@example.com
Intl: +1 339-368-6001
View original content:http://www.prnewswire.com/news-releases/free-space-optics-and-visible-light-communication-market-by-component-transmission-type-application-and-geography---global-forecast-to-2022-300511860.html