Visible Light Communication Market by End User, Application, and Geography - Forecast and Analysis 2023-2027

Published: Jan 2023 Pages: 179 SKU: IRTNTR43300

Visible Light Communication Market Forecast 2023-2027 

The visible light communication market is estimated to grow by USD 176.54 billion at a CAGR of 89.66% between 2022 and 2027. The adoption of process automation in various industries is streamlining operations, reducing costs, and improving efficiency. The emergence of faster and safer data transfer methods, along with wider bandwidths, is enabling businesses to transfer and process data more quickly and securely, facilitating real-time decision-making and collaboration. Overall, these trends are reshaping how businesses operate, making them more agile, responsive, and competitive. Additionally, these trends are driving the adoption of new technologies and business models, such as cloud computing and edge computing, which are further enhancing the capabilities of businesses to process and analyze data in real-time. As businesses continue to embrace these technologies, they are expected to become more efficient, innovative, and competitive in the digital economy.

What will be the size of the Market During the Forecast Period?

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Market Segmentation

This report extensively covers market segmentation by application (indoor networking, LBS, underwater communication, and ICE), end-user (retail, consumer electronics, automotive and transportation, healthcare, and others), and geography (North America, APAC, Europe, South America, and Middle East and Africa). It also includes an in-depth analysis of drivers, trends, and challenges. Furthermore, the report includes historic market data from 2017 to 2021.

By Application

The market share growth by the indoor networking segment will be significant during the forecast period.  VLC technology has penetrated the indoor networking segment. The retail and hospitality industries are using indoor networking systems to enhance the shopping and service experience of customers and improve the value delivered.

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The indoor networking segment was valued at USD 1.68 billion in 2017. The adoption of this technology, along with indoor position apps, will improve the targeted advertising of retailers and enhance their sales. In addition, low data rates and the existing infrastructure will reduce costs considerably. The interest shown by major lighting manufacturers will further boost this market.

By Region

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North America is estimated to contribute 47% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.

North America is the largest revenue contributor to the global VLC market. The use of radio frequency for Wi-Fi has created a severe spectrum crunch in the region. This has led to the fall in bandwidth offered and affected high-speed communication. The new disruptive advances will take over the Wi-Fi market in applications such as horticultural lighting, industrial and commercial, and marine lighting. Major nations in the region, including the US, Canada, and Brazil, have started phasing out incandescent lamps and are adopting better energy-efficient light sources such as LEDs to achieve 100% LED replacement. The Department of Transportation (DoT) and the National Highway Traffic Safety Administration (NHTSA) mandate the use of LEDs for headlights and taillights of vehicles. The demand for faster and safer wireless communication in the region will drive the adoption of this technology in North America.

Market Dynamics and Customer Landscape

Visible Light Communication (VLC), also known as Li-Fi (Light Fidelity), is a revolutionary technology that uses light to transmit data wirelessly. Unlike Wi-Fi, which uses radio waves, VLC utilizes LED light bulbs to transmit data. With the growing demand for Internet of Things (IoT) devices and connections, VLC offers a promising solution for indoor navigation systems and other applications. VLC's market is expanding rapidly, driven by its benefits such as battery-free duplex communication, high data transfer rates, and energy efficiency. It also provides a more secure alternative to radio frequency-based networks, reducing the risk of cyber security attacks. As VLC technology continues to advance, it is expected to play a significant role in the future of optical and wireless communication systems. Our researchers analyzed the data with 2022 as the base year and the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.

Key Market Driver

The growing penetration of process automation in industries is notably driving market growth. Automation is steadily growing in industries, particularly in discrete industries, where automated systems and robots are finding new applications. Different types of industrial networks are used in industries based on different standards, leading to network interoperability issues. These issues can be addressed using an automation gateway, which can easily navigate from one communication network to another, thereby increasing the availability of controllers and devices. This technology is vital for the growth of indoor navigation systems, the Li-Fi market, and battery-free duplex communication. It also plays a significant role in the advancement of VLC receivers and the digitization of industries. Additionally, automation gateways can enhance the connectivity of smartphones and improve VLC technology, especially in radio frequency-based networks. This technology is crucial for enhancing the efficiency of VLC sources and creating energy-efficient systems in industrial settings.

One important application of industrial communication gateways in automation is bridging two programmable logic controller (PLC) systems from different companies. While this bridging can be achieved using a PLC rack-based communication card, using an automation gateway simplifies the process. Additionally, with a gateway, an operator can select the best device available for the process instead of relying solely on one device. This flexibility is particularly beneficial in scenarios where different communication technologies, such as Visible Light Communication (VLC), RF technology, Free Space Optics (FSO), RF communication, and others like LEDs, IoT, and 5G, are available, allowing for optimal device selection based on the specific requirements of the process. As automation technology advances and technical breakthroughs reduce the cost of optimization, automation will become more accepted in various application areas, leading to increased demand for wireless communication technology. These factors will drive the growth of the industrial communication gateway market during the forecast period.

Significant Market Trend

The adoption of LEDs is an emerging trend in the market. The energy efficiency, longevity, and cost-effectiveness of LEDs will boost the adoption of these lighting devices. LEDs will gradually replace all fluorescent and incandescent lights in the market soon. The possibility of using LEDs for lighting, as well as communication, will likely be a factor that will speed up the adoption of these lights. For instance, if the lights in offices and houses are replaced with LEDs, free-space optical communications can be achieved. This will allow wireless optical communication between phones, computers, sensors, and other indoor devices such as office and household applications. This model is also simple and easy to implement, as it requires no additional hardware or infrastructure.

Some countries, such as the US, Japan, and China, have adopted LED and have taken steps to promote a reduction in energy consumption using LED lighting technology. For instance, in China, the government is providing profitable incentives, resources, and financial subsidies to promote the adoption of LED lighting across businesses. It has also taken several steps to support and advance the capabilities of LED manufacturers nationwide. Therefore, factors like these will boost the global VLC market's growth during the forecast period.

Major Market Challenge

The dominance of competing technologies is a major problem impeding market growth. Wi-Fi and WiMAX technology-based devices have dominated the market for decades. These have replaced analog and digital technologies used for different sectors. Reliable and efficient network connectivity helps in the proper monitoring and controlling of home appliances. Smart systems are gaining momentum with the advent of high-speed internet services from leading internet service providers.

Most smart systems function effectively with the help of wireless connectivity. High penetration of Wi-Fi connectivity across the globe is fueling this adoption of smart systems, as numerous devices can easily get added to the common network without the use of external controllers. In addition, many advanced low-power consumption communication technologies have been put into use, such as ZigBee and Z-Wave, to operate effectively. The growth of the VLC market is curtailed by the presence of these alternatives. Therefore, these factors will likely hinder the global market growth during the forecast period. 

Key Market Customer Landscape

The report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.

Global Market Customer Landscape

Who are the Major Visible Light Communication Market Companies?

Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.

Firefly Networks Ltd. - The company offers a platform for the digital landscape by addressing critical future digital challenges. The key offerings of the company include visible light communication. 

The report also includes detailed analyses of the competitive landscape of the market and information about 15 market vendors, including:

  • Acuity Brands Inc.
  • Fortive Corp.
  • Fraunhofer Society
  • fSONA Systems Corp.
  • General Electric Co.
  • Koninklijke Philips NV
  • Latecoere
  • LightBee SL
  • Lucibel SA
  • nextLiFi
  • Oledcomm
  • Panasonic Holdings Corp.
  • pureLiFi Ltd.
  • Qualcomm Inc.
  • Renesas Electronics Corp.

Qualitative and quantitative analysis of vendors has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize vendors as pure play, category-focused, industry-focused, and diversified, it is quantitatively analyzed to categorize vendors as dominant, leading, strong, tentative, and weak.

Segment Overview

The report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027. 

  • End-user Outlook
    • Retail
    • Consumer electronics
    • Automotive and Transportation
    • Healthcare
    • Others
  • Application Outlook 
    • Indoor networking
    • LBS
    • Underwater communication
    • ICE
  • Region Outlook 
    • North America
      • The U.S.
      • Canada
    • Europe
      • The U.K.
      • Germany
      • France
      • Rest of Europe
    • APAC
      • China
      • India
    • Middle East & Africa
      • Saudi Arabia
      • South Africa
      • Rest of the Middle East & Africa
    • South America
      • Chile
      • Brazil
      • Argentina

Market Analyst Overview

The market is witnessing rapid growth, driven by the increasing adoption of Li-Fi technology in various sectors such as aerospace, hospitals, and smart stores. VLC offers bidirectional transmission using LED lights to transmit data, making it a cost-effective technique for high-speed data services. With LED lights becoming more common in consumer electronic devices and smart lighting systems, VLC has found applications in autonomous vehicles and smart cities. However, challenges such as environmental interferences and reliability issues due to scattering and fading of signals need to be addressed. The VLC industry is expected to grow significantly, especially in network-connected devices and connections.

Market Scope

Report Coverage

Details

Page number

179

Base year

2022

Historic period

2017-2021

Forecast period

2023-2027

Growth momentum & CAGR

Accelerate at a CAGR of 89.66%

Market growth 2023-2027

USD 176.54 billion

Market structure

Fragmented

YoY growth 2022-2023(%)

79.18

Regional analysis

North America, APAC, Europe, South America, and Middle East and Africa

Performing market contribution

North America at 47%

Key countries

US, China, Japan, South Korea, Germany, and UK

Competitive landscape

 Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks

Key companies profiled

Acuity Brands Inc., Firefly Networks Ltd., Fortive Corp., Fraunhofer Society, fSONA Systems Corp., General Electric Co., Koninklijke Philips NV, Latecoere, LightBee SL, Lucibel SA, nextLiFi, Oledcomm, Panasonic Holdings Corp., pureLiFi Ltd., Qualcomm Inc., Renesas Electronics Corp., Signify NV, To Be Srl, Viavi Solutions Inc., and VLNComm Inc.

Market dynamics

Parent market analysis, Market Forecasting, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period. 

Customization purview

If our market report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

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What are the Key Data Covered in this Market Research Report?

  • CAGR of the market during the forecast period
  • Detailed information on factors that will drive the market growth and forecasting of the market between 2023 and 2027
  • Precise estimation of the size of the market size and its contribution to the parent market
  • Accurate predictions about upcoming market trends and analysis and changes in consumer behavior
  • Growth of the market industry across Europe, North America, APAC, South America, and Middle East and Africa
  • Thorough market growth analysis of the market’s competitive landscape and detailed information about vendors
  • Comprehensive market analysis and report on the factors that will challenge the market research and growth of market companies

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1 Executive Summary

  • 1.1 Market overview
    • Exhibit 01: Executive Summary – Chart on Market Overview
    • Exhibit 02: Executive Summary – Data Table on Market Overview
    • Exhibit 03: Executive Summary – Chart on Global Market Characteristics
    • Exhibit 04: Executive Summary – Chart on Market by Geography
    • Exhibit 05: Executive Summary – Chart on Market Segmentation by Application
    • Exhibit 06: Executive Summary – Chart on Market Segmentation by End-user
    • Exhibit 07: Executive Summary – Chart on Incremental Growth
    • Exhibit 08: Executive Summary – Data Table on Incremental Growth
    • Exhibit 09: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

  • 2.1 Market ecosystem
    • Exhibit 10: Parent market
    • Exhibit 11: Market Characteristics

3 Market Sizing

  • 3.1 Market definition
    • Exhibit 12: Offerings of vendors included in the market definition
  • 3.2 Market segment analysis
    • Exhibit 13: Market segments
  • 3.3 Market size 2022
    • 3.4 Market outlook: Forecast for 2022-2027
      • Exhibit 14: Chart on Global - Market size and forecast 2022-2027 ($ million)
      • Exhibit 15: Data Table on Global - Market size and forecast 2022-2027 ($ million)
      • Exhibit 16: Chart on Global Market: Year-over-year growth 2022-2027 (%)
      • Exhibit 17: Data Table on Global Market: Year-over-year growth 2022-2027 (%)

    4 Historic Market Size

    • 4.1 Global visible light communication market 2017 - 2021
      • Exhibit 18: Historic Market Size – Data Table on Global visible light communication market 2017 - 2021 ($ million)
    • 4.2 Application Segment Analysis 2017 - 2021
      • Exhibit 19: Historic Market Size – Application Segment 2017 - 2021 ($ million)
    • 4.3 End user Segment Analysis 2017 - 2021
      • Exhibit 20: Historic Market Size – End user Segment 2017 - 2021 ($ million)
    • 4.4 Geography Segment Analysis 2017 - 2021
      • Exhibit 21: Historic Market Size – Geography Segment 2017 - 2021 ($ million)
    • 4.5 Country Segment Analysis 2017 - 2021
      • Exhibit 22: Historic Market Size – Country Segment 2017 - 2021 ($ million)

    5 Five Forces Analysis

    • 5.1 Five forces summary
      • Exhibit 23: Five forces analysis - Comparison between 2022 and 2027
    • 5.2 Bargaining power of buyers
      • Exhibit 24: Chart on Bargaining power of buyers – Impact of key factors 2022 and 2027
    • 5.3 Bargaining power of suppliers
      • Exhibit 25: Bargaining power of suppliers – Impact of key factors in 2022 and 2027
    • 5.4 Threat of new entrants
      • Exhibit 26: Threat of new entrants – Impact of key factors in 2022 and 2027
    • 5.5 Threat of substitutes
      • Exhibit 27: Threat of substitutes – Impact of key factors in 2022 and 2027
    • 5.6 Threat of rivalry
      • Exhibit 28: Threat of rivalry – Impact of key factors in 2022 and 2027
    • 5.7 Market condition
      • Exhibit 29: Chart on Market condition - Five forces 2022 and 2027

    6 Market Segmentation by Application

    • 6.1 Market segments
      • Exhibit 30: Chart on Application - Market share 2022-2027 (%)
      • Exhibit 31: Data Table on Application - Market share 2022-2027 (%)
    • 6.2 Comparison by Application
      • Exhibit 32: Chart on Comparison by Application
      • Exhibit 33: Data Table on Comparison by Application
    • 6.3 Indoor networking - Market size and forecast 2022-2027
      • Exhibit 34: Chart on Indoor networking - Market size and forecast 2022-2027 ($ million)
      • Exhibit 35: Data Table on Indoor networking - Market size and forecast 2022-2027 ($ million)
      • Exhibit 36: Chart on Indoor networking - Year-over-year growth 2022-2027 (%)
      • Exhibit 37: Data Table on Indoor networking - Year-over-year growth 2022-2027 (%)
    • 6.4 LBS - Market size and forecast 2022-2027
      • Exhibit 38: Chart on LBS - Market size and forecast 2022-2027 ($ million)
      • Exhibit 39: Data Table on LBS - Market size and forecast 2022-2027 ($ million)
      • Exhibit 40: Chart on LBS - Year-over-year growth 2022-2027 (%)
      • Exhibit 41: Data Table on LBS - Year-over-year growth 2022-2027 (%)
    • 6.5 Underwater communication - Market size and forecast 2022-2027
      • Exhibit 42: Chart on Underwater communication - Market size and forecast 2022-2027 ($ million)
      • Exhibit 43: Data Table on Underwater communication - Market size and forecast 2022-2027 ($ million)
      • Exhibit 44: Chart on Underwater communication - Year-over-year growth 2022-2027 (%)
      • Exhibit 45: Data Table on Underwater communication - Year-over-year growth 2022-2027 (%)
    • 6.6 ICE - Market size and forecast 2022-2027
      • Exhibit 46: Chart on ICE - Market size and forecast 2022-2027 ($ million)
      • Exhibit 47: Data Table on ICE - Market size and forecast 2022-2027 ($ million)
      • Exhibit 48: Chart on ICE - Year-over-year growth 2022-2027 (%)
      • Exhibit 49: Data Table on ICE - Year-over-year growth 2022-2027 (%)
    • 6.7 Market opportunity by Application
      • Exhibit 50: Market opportunity by Application ($ million)

    7 Market Segmentation by End-user

    • 7.1 Market segments
      • Exhibit 51: Chart on End-user - Market share 2022-2027 (%)
      • Exhibit 52: Data Table on End-user - Market share 2022-2027 (%)
    • 7.2 Comparison by End-user
      • Exhibit 53: Chart on Comparison by End-user
      • Exhibit 54: Data Table on Comparison by End-user
    • 7.3 Retail - Market size and forecast 2022-2027
      • Exhibit 55: Chart on Retail - Market size and forecast 2022-2027 ($ million)
      • Exhibit 56: Data Table on Retail - Market size and forecast 2022-2027 ($ million)
      • Exhibit 57: Chart on Retail - Year-over-year growth 2022-2027 (%)
      • Exhibit 58: Data Table on Retail - Year-over-year growth 2022-2027 (%)
    • 7.4 Consumer electronics - Market size and forecast 2022-2027
      • Exhibit 59: Chart on Consumer electronics - Market size and forecast 2022-2027 ($ million)
      • Exhibit 60: Data Table on Consumer electronics - Market size and forecast 2022-2027 ($ million)
      • Exhibit 61: Chart on Consumer electronics - Year-over-year growth 2022-2027 (%)
      • Exhibit 62: Data Table on Consumer electronics - Year-over-year growth 2022-2027 (%)
    • 7.5 Automotive and transportation - Market size and forecast 2022-2027
      • Exhibit 63: Chart on Automotive and transportation - Market size and forecast 2022-2027 ($ million)
      • Exhibit 64: Data Table on Automotive and transportation - Market size and forecast 2022-2027 ($ million)
      • Exhibit 65: Chart on Automotive and transportation - Year-over-year growth 2022-2027 (%)
      • Exhibit 66: Data Table on Automotive and transportation - Year-over-year growth 2022-2027 (%)
    • 7.6 Healthcare - Market size and forecast 2022-2027
      • Exhibit 67: Chart on Healthcare - Market size and forecast 2022-2027 ($ million)
      • Exhibit 68: Data Table on Healthcare - Market size and forecast 2022-2027 ($ million)
      • Exhibit 69: Chart on Healthcare - Year-over-year growth 2022-2027 (%)
      • Exhibit 70: Data Table on Healthcare - Year-over-year growth 2022-2027 (%)
    • 7.7 Others - Market size and forecast 2022-2027
      • Exhibit 71: Chart on Others - Market size and forecast 2022-2027 ($ million)
      • Exhibit 72: Data Table on Others - Market size and forecast 2022-2027 ($ million)
      • Exhibit 73: Chart on Others - Year-over-year growth 2022-2027 (%)
      • Exhibit 74: Data Table on Others - Year-over-year growth 2022-2027 (%)
    • 7.8 Market opportunity by End-user
      • Exhibit 75: Market opportunity by End-user ($ million)

    8 Customer Landscape

    • 8.1 Customer landscape overview
      • Exhibit 76: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

    9 Geographic Landscape

    • 9.1 Geographic segmentation
      • Exhibit 77: Chart on Market share by geography 2022-2027 (%)
      • Exhibit 78: Data Table on Market share by geography 2022-2027 (%)
    • 9.2 Geographic comparison
      • Exhibit 79: Chart on Geographic comparison
      • Exhibit 80: Data Table on Geographic comparison
    • 9.3 North America - Market size and forecast 2022-2027
      • Exhibit 81: Chart on North America - Market size and forecast 2022-2027 ($ million)
      • Exhibit 82: Data Table on North America - Market size and forecast 2022-2027 ($ million)
      • Exhibit 83: Chart on North America - Year-over-year growth 2022-2027 (%)
      • Exhibit 84: Data Table on North America - Year-over-year growth 2022-2027 (%)
    • 9.4 APAC - Market size and forecast 2022-2027
      • Exhibit 85: Chart on APAC - Market size and forecast 2022-2027 ($ million)
      • Exhibit 86: Data Table on APAC - Market size and forecast 2022-2027 ($ million)
      • Exhibit 87: Chart on APAC - Year-over-year growth 2022-2027 (%)
      • Exhibit 88: Data Table on APAC - Year-over-year growth 2022-2027 (%)
    • 9.5 Europe - Market size and forecast 2022-2027
      • Exhibit 89: Chart on Europe - Market size and forecast 2022-2027 ($ million)
      • Exhibit 90: Data Table on Europe - Market size and forecast 2022-2027 ($ million)
      • Exhibit 91: Chart on Europe - Year-over-year growth 2022-2027 (%)
      • Exhibit 92: Data Table on Europe - Year-over-year growth 2022-2027 (%)
    • 9.6 South America - Market size and forecast 2022-2027
      • Exhibit 93: Chart on South America - Market size and forecast 2022-2027 ($ million)
      • Exhibit 94: Data Table on South America - Market size and forecast 2022-2027 ($ million)
      • Exhibit 95: Chart on South America - Year-over-year growth 2022-2027 (%)
      • Exhibit 96: Data Table on South America - Year-over-year growth 2022-2027 (%)
    • 9.7 Middle East and Africa - Market size and forecast 2022-2027
      • Exhibit 97: Chart on Middle East and Africa - Market size and forecast 2022-2027 ($ million)
      • Exhibit 98: Data Table on Middle East and Africa - Market size and forecast 2022-2027 ($ million)
      • Exhibit 99: Chart on Middle East and Africa - Year-over-year growth 2022-2027 (%)
      • Exhibit 100: Data Table on Middle East and Africa - Year-over-year growth 2022-2027 (%)
    • 9.8 US - Market size and forecast 2022-2027
      • Exhibit 101: Chart on US - Market size and forecast 2022-2027 ($ million)
      • Exhibit 102: Data Table on US - Market size and forecast 2022-2027 ($ million)
      • Exhibit 103: Chart on US - Year-over-year growth 2022-2027 (%)
      • Exhibit 104: Data Table on US - Year-over-year growth 2022-2027 (%)
    • 9.9 Japan - Market size and forecast 2022-2027
      • Exhibit 105: Chart on Japan - Market size and forecast 2022-2027 ($ million)
      • Exhibit 106: Data Table on Japan - Market size and forecast 2022-2027 ($ million)
      • Exhibit 107: Chart on Japan - Year-over-year growth 2022-2027 (%)
      • Exhibit 108: Data Table on Japan - Year-over-year growth 2022-2027 (%)
    • 9.10 China - Market size and forecast 2022-2027
      • Exhibit 109: Chart on China - Market size and forecast 2022-2027 ($ million)
      • Exhibit 110: Data Table on China - Market size and forecast 2022-2027 ($ million)
      • Exhibit 111: Chart on China - Year-over-year growth 2022-2027 (%)
      • Exhibit 112: Data Table on China - Year-over-year growth 2022-2027 (%)
    • 9.11 Germany - Market size and forecast 2022-2027
      • Exhibit 113: Chart on Germany - Market size and forecast 2022-2027 ($ million)
      • Exhibit 114: Data Table on Germany - Market size and forecast 2022-2027 ($ million)
      • Exhibit 115: Chart on Germany - Year-over-year growth 2022-2027 (%)
      • Exhibit 116: Data Table on Germany - Year-over-year growth 2022-2027 (%)
    • 9.12 UK - Market size and forecast 2022-2027
      • Exhibit 117: Chart on UK - Market size and forecast 2022-2027 ($ million)
      • Exhibit 118: Data Table on UK - Market size and forecast 2022-2027 ($ million)
      • Exhibit 119: Chart on UK - Year-over-year growth 2022-2027 (%)
      • Exhibit 120: Data Table on UK - Year-over-year growth 2022-2027 (%)
    • 9.13 South Korea - Market size and forecast 2022-2027
      • Exhibit 121: Chart on South Korea - Market size and forecast 2022-2027 ($ million)
      • Exhibit 122: Data Table on South Korea - Market size and forecast 2022-2027 ($ million)
      • Exhibit 123: Chart on South Korea - Year-over-year growth 2022-2027 (%)
      • Exhibit 124: Data Table on South Korea - Year-over-year growth 2022-2027 (%)
    • 9.14 Market opportunity by geography
      • Exhibit 125: Market opportunity by geography ($ million)

    10 Drivers, Challenges, and Trends

    • 10.1 Market drivers
      • 10.2 Market challenges
        • 10.3 Impact of drivers and challenges
          • Exhibit 126: Impact of drivers and challenges in 2022 and 2027
        • 10.4 Market trends

          11 Vendor Landscape

          • 11.1 Overview
            • 11.2 Vendor landscape
              • Exhibit 127: Overview on Criticality of inputs and Factors of differentiation
            • 11.3 Landscape disruption
              • Exhibit 128: Overview on factors of disruption
            • 11.4 Industry risks
              • Exhibit 129: Impact of key risks on business

            12 Vendor Analysis

            • 12.1 Vendors covered
              • Exhibit 130: Vendors covered
            • 12.2 Market positioning of vendors
              • Exhibit 131: Matrix on vendor position and classification
            • 12.3 Firefly Networks Ltd.
              • Exhibit 132: Firefly Networks Ltd. - Overview
              • Exhibit 133: Firefly Networks Ltd. - Product / Service
              • Exhibit 134: Firefly Networks Ltd. - Key offerings
            • 12.4 Fortive Corp.
              • Exhibit 135: Fortive Corp. - Overview
              • Exhibit 136: Fortive Corp. - Business segments
              • Exhibit 137: Fortive Corp. - Key offerings
              • Exhibit 138: Fortive Corp. - Segment focus
            • 12.5 Fraunhofer Society
              • Exhibit 139: Fraunhofer Society - Overview
              • Exhibit 140: Fraunhofer Society - Product / Service
              • Exhibit 141: Fraunhofer Society - Key offerings
            • 12.6 fSONA Systems Corp.
              • Exhibit 142: fSONA Systems Corp. - Overview
              • Exhibit 143: fSONA Systems Corp. - Product / Service
              • Exhibit 144: fSONA Systems Corp. - Key offerings
            • 12.7 General Electric Co.
              • Exhibit 145: General Electric Co. - Overview
              • Exhibit 146: General Electric Co. - Business segments
              • Exhibit 147: General Electric Co. - Key news
              • Exhibit 148: General Electric Co. - Key offerings
              • Exhibit 149: General Electric Co. - Segment focus
            • 12.8 Koninklijke Philips NV
              • Exhibit 150: Koninklijke Philips NV - Overview
              • Exhibit 151: Koninklijke Philips NV - Business segments
              • Exhibit 152: Koninklijke Philips NV - Key news
              • Exhibit 153: Koninklijke Philips NV - Key offerings
              • Exhibit 154: Koninklijke Philips NV - Segment focus
            • 12.9 Lucibel SA
              • Exhibit 155: Lucibel SA - Overview
              • Exhibit 156: Lucibel SA - Product / Service
              • Exhibit 157: Lucibel SA - Key offerings
            • 12.10 Oledcomm
              • Exhibit 158: Oledcomm - Overview
              • Exhibit 159: Oledcomm - Product / Service
              • Exhibit 160: Oledcomm - Key offerings
            • 12.11 Panasonic Holdings Corp.
              • Exhibit 161: Panasonic Holdings Corp. - Overview
              • Exhibit 162: Panasonic Holdings Corp. - Business segments
              • Exhibit 163: Panasonic Holdings Corp. - Key news
              • Exhibit 164: Panasonic Holdings Corp. - Key offerings
              • Exhibit 165: Panasonic Holdings Corp. - Segment focus
            • 12.12 pureLiFi Ltd.
              • Exhibit 166: pureLiFi Ltd. - Overview
              • Exhibit 167: pureLiFi Ltd. - Product / Service
              • Exhibit 168: pureLiFi Ltd. - Key offerings
            • 12.13 Qualcomm Inc.
              • Exhibit 169: Qualcomm Inc. - Overview
              • Exhibit 170: Qualcomm Inc. - Business segments
              • Exhibit 171: Qualcomm Inc. - Key news
              • Exhibit 172: Qualcomm Inc. - Key offerings
              • Exhibit 173: Qualcomm Inc. - Segment focus
            • 12.14 Renesas Electronics Corp.
              • Exhibit 174: Renesas Electronics Corp. - Overview
              • Exhibit 175: Renesas Electronics Corp. - Business segments
              • Exhibit 176: Renesas Electronics Corp. - Key offerings
              • Exhibit 177: Renesas Electronics Corp. - Segment focus
            • 12.15 Signify NV
              • Exhibit 178: Signify NV - Overview
              • Exhibit 179: Signify NV - Business segments
              • Exhibit 180: Signify NV - Key news
              • Exhibit 181: Signify NV - Key offerings
              • Exhibit 182: Signify NV - Segment focus
            • 12.16 Viavi Solutions Inc.
              • Exhibit 183: Viavi Solutions Inc. - Overview
              • Exhibit 184: Viavi Solutions Inc. - Business segments
              • Exhibit 185: Viavi Solutions Inc. - Key offerings
              • Exhibit 186: Viavi Solutions Inc. - Segment focus
            • 12.17 VLNComm Inc.
              • Exhibit 187: VLNComm Inc. - Overview
              • Exhibit 188: VLNComm Inc. - Product / Service
              • Exhibit 189: VLNComm Inc. - Key offerings

            13 Appendix

            • 13.1 Scope of the report
              • 13.2 Inclusions and exclusions checklist
                • Exhibit 190: Inclusions checklist
                • Exhibit 191: Exclusions checklist
              • 13.3 Currency conversion rates for US$
                • Exhibit 192: Currency conversion rates for US$
              • 13.4 Research methodology
                • Exhibit 193: Research methodology
                • Exhibit 194: Validation techniques employed for market sizing
                • Exhibit 195: Information sources
              • 13.5 List of abbreviations
                • Exhibit 196: List of abbreviations
              • of skilled human resource: Test and measurement equipment such as tunable diode laser analyzer (TDLA), optical time-domain reflectometer (OTDR), and process analyzers are required to be used by an expert in chemical and instrumentation engineering. Many of these equipment are used in manufacturing or production process. The individuals using this equipment need to have an overall understanding of the process to operate the equipment efficiently. One of the major challenges to the market is the lack of skilled human resource in the market. In many instances, end-users are not really satisfied with the use of these test and measurement equipment if they were not properly installed, serviced or calibrated properly. This also deters potential buyers to invest in these test and measurement equipment.

                Research Framework

                Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.

                INFORMATION SOURCES

                Primary sources

                • Manufacturers and suppliers
                • Channel partners
                • Industry experts
                • Strategic decision makers

                Secondary sources

                • Industry journals and periodicals
                • Government data
                • Financial reports of key industry players
                • Historical data
                • Press releases

                DATA ANALYSIS

                Data Synthesis

                • Collation of data
                • Estimation of key figures
                • Analysis of derived insights

                Data Validation

                • Triangulation with data models
                • Reference against proprietary databases
                • Corroboration with industry experts

                REPORT WRITING

                Qualitative

                • Market drivers
                • Market challenges
                • Market trends
                • Five forces analysis

                Quantitative

                • Market size and forecast
                • Market segmentation
                • Geographical insights
                • Competitive landscape

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                Key Questions Answered

                • What are the key global market and the regional market share?
                • What are the revenue-generating key market segments?
                • What are the key factors driving and challenging this market’s growth?
                • Who are the key market vendors and their growth strategies?
                • What are the latest trends influencing the growth of this market?
                • What are the variables influencing the market growth in the primary regions?
                • What are the factors influencing the growth of the parent market?

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