LED Segment is Growing with the Highest CAGR of 73.3%

Date: 2015-08-06

“The North American visible light communication technology market is estimated to grow with a CAGR of 71.6% from 2014 to 2019. North American VLC technology market accounted for a market share of 30% in the global visible light communication technology market in 2014. The growth of North American visible light communication technology market is driven by increasing government funding for this technology and power efficiency offered by this technology.

In this report, the North America visible light communication technology market has been broadly classified into components, such as LED, IR emitters, image sensor, and Optocouplers. The LED segment is growing with the highest CAGR of 73.3% from 2014 to 2019. 

Geographically, the U.S. is estimated to command the largest share of 68.5% of the North America visible light communication technology market, followed by Canada. The visible light communication technology market of Canada is growing with the highest CAGR of 95.4% from 2014 to 2019. The factors driving the growth of visible light communication technology market in Canada are the increasing use of visible light communication technology in indoor networking, underwater communication, and other applications.

There are a number of players currently operating in the North American market for visible light communication technology, which makes it a competitive one. As of 2014, PureLiFi (U.K.), Nakagawa Laboratories, Inc. (Japan), LVX Systems (U.S.), and ByteLight (U.S.) were operational in this regional market. New product developments and partnerships, agreements, and acquisitions are the major strategies adopted by most market players to achieve growth in the visible light communication technology market.    

Customization Options:

Along with the market data, you can also customize the MMM assessments that are in accordance to your company’s specific needs. Customize to get comprehensive industry standard and deep-dive analysis of the following parameters:

• Product Analysis:
 Usage pattern (in-depth trend analysis) of products (segment-wise).
 Product matrix, which gives a detailed comparison of product portfolio of each company, mapped at country and sub-segment level.
 End-user adoption rate analysis of the products (segment-wise and country-wise).
 Comprehensive coverage of product approvals, pipeline products, and product recalls.

• Data from Manufacturing Firms:
 Fast turn-around analysis of responses from manufacturing firms regarding recent market events and trends.
 Opinions from various firms regarding different applications where visible light communication technology can be used.
 Qualitative inputs on macro-economic indicators and mergers & acquisitions in each geography.

• Comparative Analysis:
 Market data and key developments of top companies

• Shipment/Volume Data:
 Tracking the value of components shipped annually in each geography

• Trend analysis of Application: 
 Application matrix, which gives a detailed comparison of application portfolio of each company, mapped in each geography.

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