Light Fidelity (Li-Fi)/Visible Light Communication Market is expected to garner $115 billion by 2022, registering a CAGR of 116.8% during the forecast period 2016 - 2022.

Li-Fi technology facilitates bidirectional, high speed communication through wireless channel by utilizing visible light spectrum in a closed controlled environment such as hospital, airplane, shopping complex, office, and vehicle among others. It is used to provide communication between electronic devices with the help of visible light communication, or VLC technology. The use of VLC systems can be particularly observed in lighting facilities such as LED bulbs.

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Need of high speed data transmission, data security, impending RF spectrum crunch, and several technological superiorities over Wi-Fi technology majorly drives the visible light communication market. Apart from being economical, Li-Fi offers several technological advantages over currently prevailing Wi-Fi technology which include, nearly 100 times faster speed of data transmission, enhanced data security, no electromagnetic interference, and less power consumption. However, limited range of communication limits the applicability of Li-Fi because it is best used in a closed control environment, while the presence of other light sources hampers its speed. Although, extensive research in this field is anticipated to fuel up the demand in the light fidelity (Li-Fi) market in the upcoming years.

The light fidelity (Li-Fi) market is segmented on the basis of component, industry vertical, and geography. Based on component, the market is segmented into LED, photo detector, and microcontroller (MCU). Furthermore, the market is categorized on the basis of industry vertical which include retail, electronics, defense & security, automotive & transport, aerospace & aviation, and healthcare. Further, the market is analyzed based on four regions, namely, North America, Europe, Asia-Pacific, and LAMEA.

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Light Fidelity (Li-Fi)/Visible Light Communication Market Key findings:
• In 2015, LED component led the overall Li-Fi market revenue, and is projected to grow at a CAGR of 118.1% during the forecast period.
• Retail industry vertical segment is projected to grow at a CAGR of 112.8% during the analysis period.
• Asia-Pacific is anticipated to be the fastest growing region growing at a CAGR of 121.7% during the forecast period.

The key players profiled in the report include General Electric, Oledcomm S.A.S, Renesas Electronics Corporation, pureLiFi, LVX SYSTEM, Acuity Brands Lighting, Inc., Qualcomm technologies Inc., IBSENtelecom Ltd., Koninklijke Philips N.V., and Panasonic Corporation.

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