The global FSO market is expected to grow from USD 402 million in 2020 to USD 1,977 million by 2025; it is expected to grow at a CAGR of 37.5% during 2020–2025.

The Visible Light Communication (VLC) market is expected to grow from USD 6.8 billion in 2020 to USD 200.1 billion by 2025; it is expected to grow at a CAGR of 396.5% during 2020–2025.

Key factors fueling the growth of this market include the alternative solution to overburdened RF technology for outdoor networking, last mile connectivity, faster and safer data transfer than other challenging technologies, and less energy consumption by LEDs. The demand for Li-Fi technology is increasing across the world to provide secure communications with high data bandwidth, and so on various applications such as healthcare, consumer electronics, defense, and commercial create a strong demand for FSO/Li-Fi for efficient industrial operations in the midst of COVID-19.

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FSO is a line-of-sight (LoS) technology that uses lasers to transmit data, but instead of enclosing the data stream in a glass fiber, it is transmitted through the air. Generally, lasers are used as transmitters in the FSO system. On other hand, VLC is a communication technology in which visible light is used as a medium to transmit and receive data between two devices installed within the LoS. Li-Fi is a VLC system transmitting wireless internet communications at very high speeds by using near-IR and near-UV light-emitting diodes (LEDs) for transmission of data and photodiodes for the reception of data. Li-Fi transports better bandwidth, efficiency, connectivity, and security compared to the Wi-Fi system with VLC technology..

The market for bidirectional tranmission is expected to grow at the highest CAGR within the global VLC market during the forecast period. This is because the full utilization of special features of VLC is possible only with the bidirectional transmission. Some of the special features of Li-Fi include increased security, no health risks, and no licensing.

The FSO market for the healthcare application and VLC market for underwater communications application are expected to grow with the highest CAGR during the forecast period. FSOs are hugely deployed in the healthcare application where wireless communication through radio waves is not allowed due to potential health hazards. On the other hand, Underwater communications rely on acoustic technologies that limit the speeds to a fraction of terrestrial wireless systems. RF does not work underwater but visible light can support high-speed data transmission over short distances in this environment. VLC can be a safe alternative to RF communication and serve the purpose of this untapped application area.

The FSO and VLC market in APAC is expected to grow at the highest CAGR during the forecast period. Increasing manufacturing facilities, advanced infrastructure, and the growing computer-aided design (CAD) industry are the factors driving the FSO market in APAC. Also, with the recent developments and increased expenditure on VLC-related R&D activities, the APAC region is expected to be the fastest-growing market for VLC during the forecast period. Similarly, end-user industries such as automotive, aerospace & defense, and consumer electronics are expected to create huge opportunities for VLC or Li-Fi solution providers.

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