Visible Light Communication Market to Increase Exponentially - Energy Watch News

Visible Light Communication Market to Increase Exponentially

The global VLC/Light Fidelity/(Li-Fi) market was valued at $ 454.8 million in 2015, according to Grand View Research Inc. The company forecasts that rising adoption of communication technology and exponential increase in the number of internet users will drive the VLC market, expanding at a CAGR of over 80% from 2016 to 2024. Grand View Research says that as data traffic increases in developed countries, LiFi technology will be adopted at a higher rate during the forecast period. The company cites the growing demand for a secure, fast and reliable network as a driver of growth for the VLC industry. Integral in the expansion of VLC over the period is the increasing adoption of an LED-based lighting system in various applications such as retail sector, automotive and transport, in-flight communication, and smartphones.

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