Global Optical Wireless Communication Market Size, 2027 Analysis And Forecast

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Optical wireless communication refers to media transmission via UV and IR radiation. In simple terms, it is a transmission system that uses light pulses rather than optical fiber to transmit signals through free space in the atmosphere. The sending and receiving of signals through telegraphs, ship flags, and smoke can be considered historical forms of optical wireless communication. These networks are an attractive alternative to radio devices as they offer unregulated and unlimited bandwidth. Moreover, optical wireless communication networks are immune to inference and provide highly secure transmission as optical waves do not penetrate the walls. 

The global optical wireless communication market is expected to grow at a CAGR of 8.4% between 2021 and 2028. Optical wireless communication networks are used in a wide range of applications, such as wireless personal area networks and wireless local area networks. One of the significant drivers of growth in the global optical wireless communication network is the increasing number of internet users and the increasing adoption of cloud computing, which directly impacts the growth of data centers and, thereby, the demand for optical wireless communication systems.

One of the most significant advantages of optical wireless communication is that it provides greater than 100 Gbps data rate with extreme data security across a range of networks such as Cloud Computing, broadband networks, and campus networks. Another critical growth driver in this market is the increasing demand for optical solutions in the IT and Telecom industry. 

Moreover, 5G network services in the Telecom industry are also increasing in demand as they allow for enhanced mobile broadband and IoT. This network requires higher bandwidth and an accurate and secure synchronization to deliver the high-speed internet connectivity that optical wireless communication networks provide. 

Optical wireless communication networks are also increasingly being used for military equipment, which is likely to prepare the growth of this market in the forthcoming years. The key industries where optical wireless communication networks are employed include transportation, health care, infrastructure, and the military.  In terms of market type, the optical wireless communication market can be divided into visible light, infrared, and ultraviolet. The growing demand for these communication networks can be attributed to their ease of availability and cost efficiency. 

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However, optical wireless communication networks have a complex design and require a high initial setup and maintenance cost, which is one of the factors hindering the market growth. This market is also being held back by the increasing maintenance cost and intense computation requirements of optical wireless communication networks. Moreover, the presence of optical fiber for short ranges may also hinder market growth. 

The optical wireless communication market can be divided into North America, South America, Europe, and Asia. North America is the largest consumer of optical wireless communication networks. This dominance can be attributed to this region's increased technological advancements, urbanization, and modernization. Moreover, there has also been an increase in the disposable income of people. This development has led to the adoption of technologically advanced solutions such as optical wireless communication networks. However, the optical wireless communication market is expected to grow at a moderate pace in the Asia-pacific region in the upcoming years. 

Key market players in the optical wireless communications market include Broadcom, General Electric, Honeywell International, Panasonic, Brand Lighting, Bridgelux, Philips Lighting, Acuity Brand Lighting, Samsung Electronics, Vishay Intertechnology, Toshiba, Harris, Purelifi, Qualcomm, Sharp, Taiyo Yuden, etc. 

Key questions answered in this report

• COVID 19 impact analysis on global Optical Wireless Communication industry.
• What are the current market trends and dynamics in the Optical Wireless Communication market and valuable opportunities for emerging players?
• What is driving Optical Wireless Communication market?
• What are the key challenges to market growth?
• Which segment accounts for the fastest CAGR during the forecast period?
• Which product type segment holds a larger market share and why?
• Are low and middle-income economies investing in the Optical Wireless Communication market?
• Key growth pockets on the basis of regions, types, applications, and end-users
• What is the market trend and dynamics in emerging markets such as Asia Pacific, Latin America, and Middle East Africa?

Unique data points of this report

• Statistics on Optical Wireless Communication and spending worldwide
• Recent trends across different regions in terms of adoption of Optical Wireless Communication across industries
• Notable developments going on in the industry
• Attractive investment proposition for segments as well as geography
• Comparative scenario for all the segments for years 2018 (actual) and 2031 (forecast)

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