Amid the COVID-19 crisis, the global market for Free Space Optics (FSO) and Visible Light Communication (VLC) estimated at US$283.3 Million in the year 2020, is projected to reach a revised size of US$2.6 Billion by 2027, growing at a CAGR of 37.1% over the analysis period 2020-2027, according to a recent report by Research & Markets.
Software, one of the segments analyzed in the report, is projected to record a 37.8% CAGR and reach US$1 Billion by the end of the analysis period. After an early analysis of the business implications of the pandemic and its induced economic crisis, growth in the Photo Detector segment is readjusted to a revised 38.9% CAGR for the next 7-year period.
The U.S. Market is Estimated at $85.5 Million, While China is Forecast to Grow at 35.9% CAGR
The Free Space Optics (FSO) and Visible Light Communication (VLC) market in the U.S. is estimated at US$85.5 Million in the year 2020. China, the world`s second largest economy, is forecast to reach a projected market size of US$433 Million by the year 2027 trailing a CAGR of 35.9% over the analysis period 2020 to 2027. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 34% and 31.8% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 25.9% CAGR.
Microcontroller Segment to Record 36% CAGR
In the global Microcontroller segment, USA, Canada, Japan, China and Europe will drive the 36% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$53.8 Million in the year 2020 will reach a projected size of US$462.4 Million by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$311.5 Million by the year 2027.
Competitors identified in this market include, among others:
- Fsona Networks Corp.
- General Electric Company
- Ibsentelecom Ltd.
- Koninklijke Philips NV
- Lightbee Corp.
- LightPointe Communications, Inc.
- Lvx System
- Outstanding Technology Co., Ltd.
- Panasonic Corporation
- Plaintree Systems Inc.
- Purelifi Ltd.
- Supreme Architecture
- Trimble Hungary Kft.
- Wireless Excellence Limited (CableFree)