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The overall FSO market is expected to grow from USD 402 million in 2020 to USD 1,977 million by 2025; it is expected to grow at a CAGR of 37.5% during 2020-2025.
The overall VLC market is expected to grow from USD 6.8 billion in 2020 to USD 200.1 billion by 2025; it is expected to grow at a CAGR of 396.5% during 2020-2025. Key factors fueling the growth of this market include the alternative solution to overburdened RF technology for outdoor networking, last-mile connectivity, faster and safer data transfer than other challenging technologies, and less energy consumption by LEDs. The demand for Li-Fi technology is increasing across the world to provide secure communications with high data bandwidth, and so on various applications such as healthcare, consumer electronics, defense, and commercial create a strong demand for FSO/Li-Fi for efficient industrial operations in the midst of COVID-19.