According to IMARC Group latest report titled “Li-Fi Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028”, offers a comprehensive analysis of the industry, which comprises insights on Li-Fi market analysis. The report also includes competitor and regional analysis, and contemporary advancements in the global market. The global Li-Fi market size reached US$ 442.0 Million in 2022. Looking forward, IMARC Group expects the market to reach US$ 6,225.5 Million by 2028, exhibiting a growth rate (CAGR) of 53.2% during 2023-2028.
What are Li-Fi?
Light fidelity (Li-Fi) is wireless optical communication technology that utilizes visible light communication (VLC), including ultraviolet (UV), visible light spectrum, or infrared spectrum, to transmit high-speed data. Additionally, it uses light to transmit information in a similar way to Wi-Fi using visible light. It is a visible light communication (VLC) system that uses common household LED light bulbs to enable data transmission, in which the LED bulbs are connected to a controller that modulates the light intensity at high speeds. As a result, it helps in high-speed and bidirectional communication transmitted through a wireless channel in a closed, controlled environment, such as an airplane, office, vehicle, hospital, or shopping complex. It is gaining widespread traction as it offers secure and high-speed connections among multiple devices.
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What are the growth prospects and trends in the Li-Fi industry?
The penetration of the internet of things (IoT) majorly drives the global market. This can be supported by the growing need for businesses and consumers to connect a variety of devices to the internet. Along with this, the growing demand for high-speed networks to stream video or audio is significantly supporting the market. In addition, the widespread adoption of Li-Fi in cars for enabling high-speed internet access and hands-free communication that aids in improving safety and improve driver experience is acting as another growth-inducing factor. Furthermore, continuous development in Li-Fi networking techniques, including mobility support, interference mitigation, and multiuser access, is creating a positive market outlook. Some of the other factors driving the market include the increasing need for improved energy management and the growing initiatives towards smart city development.
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Competitive Landscape:
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
- 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.
Breakup by Component:
- LED Lamps
- Optical Sensor
- Microcontroller
- Software
- Others
Breakup by Application:
- Indoor Networking
- LBS (Location Based Services)
- In-Flight Communication and Entertainment
- Underwater Communication
- Others
Breakup by Transmission Type:
- Unidirectional
- Bidirectional
Breakup by End-User:
- Retail
- Consumer Electronics
- Automotive and Transportation
- Healthcare
- Defense and Security
- Others
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 (2017-2022)
- Market Outlook (2023-2028)
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
About Us
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
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