According to IMARC Group latest report titled “Li-Fi Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027”, offers a comprehensive analysis of the industry, which comprises insights on Li-Fi market share. The report also includes competitor and regional analysis, and contemporary advancements in the global market. The global Li-Fi market reached a value of US$ 283 Million in 2021. Looking forward, IMARC Group expects the market to reach US$ 4,231 Million by 2027, exhibiting a CAGR of 51.26% during 2022-2027.
Light fidelity (Li-Fi) is a wireless optical networking technology that utilizes an infrared spectrum, ultraviolet (UV), or visible light spectrum for high-speed data communication. It aids in facilitating high-speed and bidirectional communication through a wireless channel using the visible light spectrum in a closed-controlled environment, such as an airplane, office, vehicle, hospital, and shopping complex. It generally operates via microcontrollers and light-emitting diodes (LEDs) that trigger the conversion of light waves into electric signals that are received by photodetectors that interpret the changes in light intensity. Consequently, it provides secured and safe ultra-fast data that is beneficial in salvaging existing lighting infrastructure for communication.
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As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the purchase behaviours of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.
The global market is majorly driven by the growing need for efficient communication networks. Apart from this, the increasing construction of smart buildings to improve resident comfort by enabling improved logistics, smart lighting, health monitoring, and intelligent car parking systems, is boosting the demand for light fidelity (Li-Fi). Moreover, development in Li-Fi networking techniques, such as multiuser access, mobility support, and interference mitigation, is creating a positive market outlook. Along with this, the extensive use of light fidelity (Li-Fi) across various industries, including automotive, electronics, defense, healthcare, aerospace, and information technology (IT), is significantly supporting the market growth globally. Other factors driving the market further include rapid urbanization and digitization, reduction in LED system prices and continual advancements in existing technologies.
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Competitive Landscape with Key players:
The report has also analysed the competitive landscape of the market with some of the key players being.
- FSOna Networks Corp
- General Electric Co.
- LG Innotek
- Lightpointe Communications
- LVX System
- PureLi-Fi Ltd.
- Semicon Light Company
- Sunpartner Technologies
- Wipro LLC
Li-Fi Market Segmentation:
Our report has categorized the market based on region, component, application, transmission type and end-user.
Market Breakup by Component:
- LED Lamps
- Optical Sensor
Market Breakup by Application:
- Indoor Networking
- LBS (Location Based Services)
- In-Flight Communication and Entertainment
- Underwater Communication
Market Breakup by Transmission Type:
Market Breakup by End-User:
- Consumer Electronics
- Automotive and Transportation
- Defense and Security
Market Breakup by Region:
- North America (United States, Canada)
- Europe (Germany, France, United Kingdom, Italy, Spain, Others)
- Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)
Key highlights of the report:
- Market Performance (2016-2021)
- Market Outlook (2022-2027)
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
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