Li-Fi Market Overview

Global Li-Fi Market is expected to grow at approximately USD 51 Billion by 2023, Li-Fi Market is growing at 70% of CAGR between 2019 and 2023, Li-Fi market has been segmented on the basis of component, application and end user

Li-Fi market has been segmented on the basis of component, application and end user. The component segment is further bifurcated into LED, optical sensing, microcontroller, photo detector and others. Optical wireless technology is enhancing the Li-Fi market by transferring data at a faster rate. The information carried through wireless optical network is much faster as compared to other channels. The most important advantage of using wireless optical network is that, the frequency penetrates through wall and feasibility of installing these networks anywhere is boosting the utilization of wireless optical network in Li-Fi market.

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Li-Fi Market Competitive Dashboard

The key vendors contributing to the global Li-Fi market are Panasonic Corporation (Japan), Acuity Brands, Inc. (U.S.), LightPointe Communications, Inc. (U.S.), General Electric (U.S.), Koninklijke Philips N.V. (the Netherlands), Oledcomm (France), PureLiFi Limited (U.K), Velmenni (Tartu), LightBee Corporation (U.S.), FSONA Networks (U.K) and others.

Li-Fi Market Segmentation

The Li-Fi market can be segmented based on component, application, and end-user.

LED sub-segment to beat other components

Component-wise, the market is segmented into light emitting diode (LED), optical sensing, microcontroller, photo detector and others. Among these, led is estimated to be the largest market owing to its usage in combining illumination with the ability to modulate brightness that can be received and used as data.

The applications in the global market are smart phones, standalone tracker, advance tracker and others.

Li-Fi Market Competitive Analysis

The emergence of Li-Fi technology has propelled many advances and advantages into motion. The light fidelity market is being prompted for major growth due to the prevalent benefit of light emitting diode. Furthermore, the data transmission changes cannot be seen by a naked human eye due to its tremendous speed. The Li-Fi technology, being similar to a Wi-Fi network operates at a speed of 224 gigabytes, i.e. 100 times the speed of a Wi-Fi network. This intense speed allows seamless transmission of various types of data including audio, video, and broadband at a speed of 1 Gb/s; as compared to 150 mb/s speed of a Wi-Fi signal. Moreover, ability for optimal application of the economies of scale has shown an increase in the use of LED lighting system in Li-Fi, promising influential rise in the use of the same in the future.

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Li-Fi Market Detailed Regional Analysis

The market report for Li-Fi market is analyzed for the regions of North America, Asia Pacific, Europe, and Rest of the World. The market for Li-Fi technology in the region of Asia Pacific is estimated to grow at the fastest rate during the forecast period. The region of North America is predicted to account for the largest share of Li-Fi technology market. North America’s major growth for the Li-Fi market can be attributed to an upward graph in the demand of energy efficient devices as well as a rise in demand for higher speed data communication.

Moreover, the region of North America is expected to drive major growth due to a well-established infrastructure. Such conditions make the implementation of the Li-Fi technology much smoother and faster. This attribute fuels the market growth as well as prompts technological experimentation and advancements.

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