The South American visible light communication market is projected to grow with a CAGR of 56% from 2014 to 2019. In 2014, this regional visible light communication market has a market share of 5.6% in the global visible light communication market. Increasing government funding in visible light communication technology and power efficiency of this technology are the major drivers for the growth of VLC market in South America.
In this report, the South America visible light communication market has been broadly classified by component, such as LED, IR emitters, image sensor, and optocouplers. The LED segment market is projected to grow with a CAGR of 61% from 2014 to 2019. LEDs are majorly used in devices, medical equipment, clothing, toys, remote controls, lighting, indicators & signs, optocouplers, and optoisolators.
The LED segment held the largest share of 47% of the VLC market in 2014, by component, followed by image sensors. The overall visible light communication market in this region was valued at $36.75 million in 2014, and is projected to grow with a CAGR of 56% from 2014 to 2019. The factors driving the growth of visible light communication market in South America are the increasing use of visible light communication technology in indoor networking, underwater communication, intelligent traffic system, location-based services, and in-flight entertainment and communication.
Leading players in South American VLC market are growing exponentially with their breakthrough innovative offerings, thus making the competition more challenging. As of 2014 PureLi-Fi, ByteLight, OLEDCOMM, Nakagawa Laboratories, Inc., and LVX systems were active in this regional market. New product developments and partnerships, agreements, and acquisitions are the major strategies adopted by the market players to achieve growth in this market.
