The study reveals that Visible Light Communication (Li-Fi) technology is trending in North America region. The Li-Fi technology is set to become a leading technology and will gain a highest market share by the end of the forecasted period. The factors driving the Li-Fi Market include faster and safer data transfer than other competing technologies; RF spectrum bandwidth crunch; no bandwidth limitation and less energy consumption; and greener, cleaner, and safer technology.
The study indicates that advantage of Li-Fi is zero electromagnetic interference, allowing connectivity even in areas where Wi-Fi isn’t accepted such as hospitals and nuclear plants among others. Moreover, Li-Fi offers better data defense as light waves can’t pass through walls, making it impossible to hack any internal systems in high-security buildings.
The Visible Light Communication (Li-Fi) Market is growing rapidly over 56% of CAGR and is expected to reach at USD $~15 billion by the end of forecast period.
Li-Fi Market Players:
- General Electric Co. (U.S.)
- ByteLight, Inc. (U.S.)
- Panasonic Corp. (Japan)
- pureLiFi Ltd. (U.K.)
- LightPointe Communications, Inc. (U.S.)
- Plaintree Systems Inc. (Canada)
- Fsona Systems Corporation (U.K.)
- Trimble Hungary Kft. (Hungary)
- Outstanding Technology Corp. (Japan)
- IBSENtelecom (Norway)
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Visible Light Communication (Li-Fi) Market Segmentation
The Visible Light Communication (Li-Fi) Market has been segmented on the basis of application, components, end -users and region. Major opportunities in LIFI market is the smart LED lightening for commercial buildings and private homes, smart lightening of public spaces like stations and airports, traffic updates from traffic lights, Smart Store, Consumer Electronics and Game Consoles.
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 will drive the consumer electronics segment.
Market Research Analysis:
On geographic basis, Visible Light Communication (Li-Fi) market is studied in different regions as Americas, Europe, Asia-Pacific and Rest of world. It has been observed that North America region is leading with highest market share growth in the Visible Light Communication (Li-Fi) market. The growing need of green technology solutions with low power consumption is encouraging the development of advanced communication systems via Li-Fi in North America. Similarly, Europe region has a positive growth in the Visible Light Communication (Li-Fi) market as Li-Fi delivers high-speed in a much more secure way. Li-Fi allows 100 times faster data transmission is boosting the demand of Li-Fi market in this region. The Light Fidelity is the bright future of 5G visible light communication systems in the developing countries in Asia-pacific regions like China, Japan and others.
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– Device manufacturers
– Network Operators
– Research firms
– Software Developers
– Commercial Banks
– Semiconductor Manufacturers
– End-user sectors
– Technology Investors
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