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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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
- 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.
Breakup by Component:
- LED Lamps
- Optical Sensor
Breakup by Application:
- Indoor Networking
- LBS (Location Based Services)
- In-Flight Communication and Entertainment
- Underwater Communication
Breakup by Transmission Type:
Breakup by End-User:
- Consumer Electronics
- Automotive and Transportation
- Defense and Security
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
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