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The Li-Fi Market is segmented by Application ( Indoor and Outdoor) and Region.
Fastest Growing Market:
The Li-Fi Market was valued at USD 143 million in 2019 and is expected to reach USD 3.52 billion by 2025, at a CAGR of 70.54% over the forecast period 2020 - 2025. Li-Fi is a disruptive technology that is poised to impact many industries. The technology can unlock the potential of IoT, drive Industry 4.0 applications, and lead to the upcoming of light-as-a-service (LaaS) in the lighting industry. The CAGR of wireless traffic has been 60% during the last decade. This growth is expected to sustain for the next 10 to 15 years, which, in the current scenario, is a reasonable assumption, due to the advent of Internet-of-Things and machine type communication (MTC). It corresponds to a demand of 12,000 times the current bandwidth, assuming the same spectrum efficiency.
Li-Fi is a wireless communication technology that uses the infrared and visible light spectrum for high-speed data communication. Li-Fi extends the concept of visible light communication (VLC) to achieve secure, bi-directional, high speed, and fully networked wireless communications. Li-Fi supports user mobility and multiuser access.
|Middle East & Africa|
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Smart buildings are currently adapting to accommodate their residents, in order to improve resident comfort and user experience. They do this by knowing the locations of each occupant and then providing location-based services, such as intelligent car parking, health monitoring, logistics, and shopping assistance. In addition to indoor shopping assistance, location-based service also plays a crucial role in the reduction of building energy cost. The basic idea of Li-Fi technology is to utilize the visible light from an LED light bulb to transmit high-speed data to a photodetector, which is connected to a smartphone or tablet.
Wi-Fi’s frequency spectrum is around 2.4GHz or 5GHz, while Li-Fi’s frequency spectrum is located in the visible light band. Considering the widespread use of LED bulbs inside buildings and large bandwidth of visible light, Li-Fi technology is much cheaper and more eco-friendly than Wi-Fi. Li-Fi technique has great potential in many popular applications, such as location-based services, mobile connectivity, smart lighting, and hazardous environments. The increasing growth in the use of LED lamps in buildings for lighting provides enormous opportunities for Li-Fi-based applications. As Li-Fi combines the functions of high-speed wireless data communication and indoor lighting infrastructure, it is very cost-effective to be widely utilized in smart buildings.
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The rapid advancement of information technologies, such as wireless sensor network, Internet of Things, Big Data, and smartphones, has resulted in the development of smart buildings in the North American region. At the end of 2016, around 15 million households in the United States met the definition of smart home, which is expected to increase to more than 20 million households, thereby, offering several opportunities for Li-Fi in the country.
According to the US Green Building Council, buildings contribute a significant portion of energy consumption in the United States. It is reported that buildings account for 70% of electricity load and 39% of carbon oxide emissions. Given an occupant’s accurate indoor position, a building management system (BMS) is capable of offering highly efficient heating, cooling, ventilation, and lighting services to the occupant.
Increasing applications of indoor location-based services embedded with light fixtures in retail shops and hotels in the North American region are also projected to be one of the factors driving the revenue growth in the region. Several companies, such as GE Lightings and ByteLight Inc., are deploying VLC installations in supermarkets, which in turn, is aiding retailers to tie a customers' shopping history by tracking their location details.
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The Li-Fi market is highly competitive and consists of several major players. In terms of market share, few of the major players currently dominate the market. These major players with prominent shares in the market are focusing on expanding their customer base across foreign countries. These companies are leveraging on strategic collaborative initiatives to increase their market share and increase their profitability. The companies operating in the market are also acquiring start-ups working on Li-fi technologies to strengthen their product capabilities. In April 2018, pureLiFi entered into partnership with Cisco in 5G RuralFirst project. This project is expected to support and inform the development of the UK’s 5G ecosystem, so that it is able to address the needs of communities and businesses in rural locations in ways that 4G, 3G, and 2G have not been able to do. pureLiFi is one among the project innovators working on 5G radio access technology and dynamic spectrum access.
1.1 Study Deliverables
1.2 Study Assumptions
1.3 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Overview
4.2 Introduction to Market Drivers and Restraints
4.3 Market Drivers
4.3.1 Government Initiatives Pushing for Energy Efficiency
4.3.2 Rising Demand for High-speed Network
4.4 Market Restraints
4.4.1 Limited Range and Connectivity and Lack of Awareness about the Technology
4.5 Value Chain / Supply Chain Analysis
4.6 Porter's Five Forces Analysis
4.6.1 Threat of New Entrants
4.6.2 Bargaining Power of Buyers/Consumers
4.6.3 Bargaining Power of Suppliers
4.6.4 Threat of Substitute Products
4.6.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION
5.1 By Application
5.2.1 North America
5.2.4 Latin America
5.2.5 Middle East & Africa
6. COMPETITIVE LANDSCAPE
6.1 Company Profiles
6.1.1 Panasonic Corporation
6.1.2 Koninklijke Philips NV
6.1.3 Renesas Electronics Corporation
6.1.4 Siemens AG
6.1.6 Zero1 Pte Ltd
6.1.9 LightBee Corp.
6.1.10 IDRO Co. Ltd
7. INVESTMENT ANALYSIS
8. MARKET OPPORTUNITIES AND FUTURE TRENDS