According to IMARC Group latest report titled” Li-Fi Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026”, the market is currently witnessing strong growth. The global Li-Fi Market size to grow at a CAGR of around 45% during 2021-2026. Light fidelity (Li-Fi), also known as visible light communication (VLC), represents a wireless optical networking technology that uses the visible light spectrum, infrared (IR) radiations, and ultraviolet (UV) radiations to transfer data at high speeds. The system operates via microcontrollers and light-emitting diodes (LEDs) that trigger the conversion of light waves into electrical signals. These signals are then collected by photodetectors to analyze the changes in light intensity as data. Li-Fi can connect distant and remote terrains across large areas that cannot be reached via optical fibers. Owing to this, it is extensively utilized across various industries, including automotive, healthcare, aerospace, electronics, information technology (IT), defense, etc.
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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.
Market Trends:
The elevating urbanization levels and the increasing construction of smart cities across the globe are some of the primary factors driving the Li-Fi market. Furthermore, the escalating adoption of Big Data tools, cloud computing, multi-tier data center architectures, etc., across several industries is also positively influencing the market growth. Besides this, Li-Fi systems are gaining traction for facilitating massive bandwidth spectrum, minimal network and radio interference, higher speeds, etc., which is acting as another significant growth-inducing factor sugar free chocolates. Additionally, the rising product utilization across residential and commercial spaces is creating lucrative business expansion opportunities for industry players and further augmenting the global market. Apart from this, the growing popularity of indoor location-based services, such as smart lighting, smart car parking, health monitoring, logistics, shopping assistance, etc., is propelling the demand for high-speed data communication systems. This, in turn, is anticipated to catalyze the Li-Fi market over the forecasted period.
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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
- Lucibel
- LVX System
- Oledcomm
- Philips
- 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
- Microcontroller
- Software
- Others
Market Breakup by Application:
- Indoor Networking
- LBS (Location Based Services)
- In-Flight Communication and Entertainment
- Underwater Communication
- Others
Market Breakup by Transmission Type:
- Unidirectional
- Bidirectional
Market Breakup by End-User:
- Retail
- Consumer Electronics
- Automotive and Transportation
- Healthcare
- Defense and Security
- Others
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 (2015-2020)
- Market Outlook (2021- 2026)
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
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