A respected US market research company is predicting that the market for data-over-lighting technologies including Li-fi and visible light communication (VLC) will be worth over $100 billion in eight years.
That’s more the current global general lighting industry, which is today at just under $100 billion in revenues. Grand View Research says the reason for the explosion in the tech is increasing concern over cyber security.
‘VLC is a disruptive technology and is therefore expected to grab a substantial portion of the Wi-Fi industry in the near future,’ the company says in its latest report. ‘However, the adoption is at the nascent stage and is currently being used for niche applications, due to which, an extensive R&D investment would help market players to obtain a competitive advantage.’
The company believes that the widespread adoption of LED, and the growth in smart LED bulbs in developed countries would provide a massive infrastructure base for VLC system providers.
‘Increasing applications of indoor location-based services embedded within light fixtures in retail outlets and hotels is projected to be one of the factors driving revenue growth. Several companies such as GE Lighting, ByteLight and Philips are deploying VLC installations in supermarkets which in turn is aiding retailers to tie customers’ shopping history by tracking their location details. This is helping the retailers to deliver on-site information tailored to a customer needs.
‘Advancements in the automotive industry are projected to enhance the safety of commuters. This is being executed through the vehicle to vehicle (V2V) and vehicle to the roadside (V2R) communication by installing LEDs in headlight and tail light of the vehicle. However, high installation and repair cost are projected to obstruct the large-scale implementation of these systems, especially in the emerging economies.’
Grand View Research is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services.
- The latest generation of li-fi and visible lighting communication technologies will be demonstrated at LuxLive 2016 at ExCeL London on Wednesday 23 November and Thursday 24 November 2016. Entry is free if you register at www.luxlive.co.uk
Photo: Shutterstock copyright 2016
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