Li-Fi Market is projected to reach USD 116.96 Billion by 2032, at a CAGR of 31.60% during the forecast period 2023-2032.
Research Reports
Sep 27, 2023
In 2022, the Li-Fi market size was estimated to be around USD 12.78 billion. The Li-Fi market is anticipated to expand from USD 25.56 billion in 2023 to USD 116.96 billion in 2030, with a predicted CAGR of 31.60% over the forecast period (2023 – 2030). Visible light is used to transport data using the wireless communication technique known as Li-Fi (Light Fidelity). It works by adjusting an LED light source’s output intensity and using that light to transfer data. In order for the technology to function, electrical signals must be transformed into light signals, which are then sent through the air and detected by a photodetector. Compared to regular Wi-Fi, Li-Fi has a number of benefits, including greater bandwidth, increased security, and improved dependability in situations with high levels of radio frequency.
Key Companies in the Li-Fi market include
- Acuity Brand Lighting
- General Electric
- Koninklijke Philips
- Lightbee Corp
- LVX System Corp
- Pure Li-Fi
- Oledcomm
- Avago Technologies
- Panasonic
- Casio
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Li-Fi is also good for human health because it employs visible light, which is harmless for the body. Li-Fi is being developed for a variety of uses, such as interior navigation, lighting management, and internet access. The market for Li-Fi is expanding as a result of the rising need for secure and dependable wireless technology as well as for high-speed data connectivity.
As smartphones take over as the major method of accessing the internet, there is an increasing need for high-speed and secure wireless data communication. Higher bandwidth and improved security are only two of the advantages Li-Fi technology has over conventional Wi-Fi technology, making it a desirable option for connecting smartphones to the internet wirelessly and fostering the expansion of the Li-Fi market.
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Segment Insights
Li-Fi Lamp, LifiDongal, Access Point, and Li-Fi Kit are among the market segments based on Type. In 2022, the LifiDongal sector will occupy the majority of the market share and contribute to Li-Fi revenue.
Smartphones, Standalone, and Advance Tracker are included in the market segmentation based on Application. The market was dominated by the Advance Tracker category.
The market is divided into segments based on vertical, including education, retail, healthcare, aviation, exhibitions, and others. During the forecast period, 2023-2030, it is expected that the Aviation segment would grow more quickly than any other.
The analysis offers market insights for each region separately, including North America, Europe, Asia-Pacific, and the Rest of the World. The largest market share is predicted to be in North America. The region’s current infrastructure and emerging technology are projected to present an alluring potential for the expansion of the market.
In contrast, due to the development of activities in the naval sector, it is projected that the US military will display a greater need for Li-Fi.
The market for smartphones and other electronic gadgets in the Asia-Pacific region has grown recently. The Li-Fi Industry is also growing as a result of the potential advantages of Li-Fi technology, such as enhanced connection and rising demand for navy and other applications. On the other hand, the Asia-Pacific region’s declining cost of smartphones and IoT devices with fast data transfer speeds is seen as the primary driving force behind the Li-Fi market.
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