Visible light communication technology is the new upcoming wave of wireless communication featuring high speed light based data transmission in an environment friendly way. The demand for wireless medical body area network for short and medium range medical telemetry systems such as remote health monitoring systems is gradually growing to increase the quality of service and effectiveness of the monitoring systems. The stringent competition in the real retail sector from the e-retail segment is resulting to the adoption of new marketing and advertising strategies to attract more customers by providing free in-store wireless connectivity, coupons, vouchers, special offers and so on over apps, cashless shopping options and many other strategies
The stringent regulatory challenges for the radio wave based wireless communication technologies in the medical and healthcare industry verticals is analyzed to pave the way for the visible light communication technology as it does not pose any exposure risk to the patients unlike RF devices. Moreover owing to these regulations the price of the conventional medical wireless systems also pose a significant challenge towards higher adoption as the products are to be designed and manufactured as per the compliance of the industry’s safety standards. The hospital visible light communication market is set to grow by 182.6% from $9.6 thousand in 2018 owing to the Eco friendliness of the technology.
In the retail sector VLC is set to be implemented to provide offer details and product information to the customers’ smartphones present inside the store. To attract more customers the retail stores are now integrating wireless routers to provide free internet to the customers and prolong their stay and increase the chances of revisit. This is set to avail prominent scope to the Li-Fi technology in this sector owing to its low cost infrastructure requirement, easy access and high speed data transmission. VLC is also being adopted to provide ease of navigation to the customers in hypermarkets to the product segments, entered by the user in the smartphones. Philips Lightings Holding B.V. has recently launched VLC based indoor navigation solutions with Bluetooth Low Energy (BLE) and smartphone sensor based positioning for the retail market. The retail VLC market is estimated to reach $195 million by 2022 growing at a rate of 113.7% owing to the increasing adoption of indoor wireless connectivity and navigating applications. The new horizons for indoor navigation in the retail and commercial sector is thus set to buoy the global visible light communication market in the future.
IndustryARC is a global market research and business consulting firm based out of India. We have research centers across Asia and Europe with consultants experienced in the following verticals – Agriculture, Automotive, Chemicals and Materials, Energy and Power, Food and Beverages, ICT, Electronics, Life sciences and Healthcare, Automation and Instrumentation.
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