North American Visible Light Communication Technology Market - Analysis and Forecast to 2019

North America Visible Light Communication Technology Market by Component (LED, IR Emitters, Image Sensor, Optocouplers) by Application (Indoor Networking, Underwater Communication, Location-based Service, Intelligent Traffic System) by Geography (U.S., Canada, Mexico) - Analysis and Forecast to 2019

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.

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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.

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