The Global Li-Fi market is estimated to worth US$ 80 billion in 2021 and is expected to witness a growth rate of XX.XX % for next five year. This new disruptive innovation is expected to grab a high portion of Wi-Fi market especially in commercial use segment.
The growth and increase in lifetime of LED lightening has led to formation of new commercial prototypes in the lightening industry. In Li-Fi technology, visible light coming from LED bulbs acts as carrier for data and can reach any devices which is illuminated by it. The flickering of LED bulb creates signal for the receiver device and thereby transmitting data. This wireless optical networking technology has the potential to transmit data up to speed of 224 GB per second and is about 100 times faster than Wi-Fi. This market has got commercialized for its unidirectional communication applications.
One of the major benefit of Li-Fi technology using light wave instead of radio wave for transmitting data is enhancement of data safety and security. Data stealing will be difficult as LiFi does not transmit through walls. Infinite bandwidth of light and limited exposure to radiation is one of the reason for selecting Li-Fi over Wi-Fi. The device has uses both in developed and developing nations. In developing nations where the government is focussing on improving communication and internet penetration, Li-fi has the potential for transmitting uncongested and noise free signals which Wi-Fi fails to provide. Li-fi will help in universalisation of internet in developed nations through Street light LEDs. Government promotions for LED bulbs in developed countries will also help in expansion of LIFI. Lifi is much cost and environment friendly as compared to Wi-Fi. As internet connectivity is becoming basic necessity in this century and people are looking for hassle free fast internet, the spread of LiFi is expected to grow steady in the future.
Major opportunities in LIFI industry includes: smart LED lightening for commercial buildings and private homes, smart lightening of public spaces like stations and airports, traffic updates from traffic lights, Smart Store, Consumer Electronics and Game Consoles. The market for photo detector segment is also expected to witness a boom due to advent of this technology. The lack of penetration through walls and opaque objects can restrain this technology drastically.
The market has also been geographically segmented into North America, Europe, Asia-Pacific, South America, GCC and the Rest of the World.
Key Deliverables in the Study
1. Market analysis for the Global LiFi Market, with region specific assessments and competition analysis on global and regional scales
2. Market definition along with the identification of key drivers, restraints and opportunities
3. Identification of factors instrumental in changing the market scenarios, rising prospective opportunities, and identification of key companies that can influence this market on a global and regional scale
4. Extensively researched competitive landscape section with profiles of major companies along with their market shares
5. Identification and analysis of the macro and micro factors that affects the market on both global and regional scales
6. A comprehensive list of key market players along with the analysis of their current strategic interests and key financial information
7. A wide-ranging knowledge and insights about the major players in this industry and the key strategies adopted by them to sustain and grow in the studied market
8. Insights on the major countries/regions in which this industry is blooming and to also identify the regions that are still untapped
9. The detailed analysis of market size (in terms of both value and volume), value-chain analysis, technologies in use, government regulations, upcoming projects, forecasts of market growth and market sizes for each segments are included in the report. In addition to it, the report also explains economic conditions of and forecast of its current economic scenario and effect of its current policy changes in to its economy, reasons and implications on the growth of this sector.
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