Phenomenal Expansion of Li-Fi Market on Account of Constant Technology Innovations

Pune, India, August, 2018 /press release/- Market Research Future Published a Half-Cooked Research Report on Global Light fidelity Market Research Report.

Market Highlights

The global Li-Fi (light fidelity) market is estimated to reach the valuation of approximately USD 51 billion by 2023, reports Market Research Future (MRFR). At 70% CAGR, the market is set to expand phenomenally during the forecast period (2017-2023). Li-Fi refers to a visible light communication (VLC) technology that uses light as medium to deliver high-speed communication.

Drivers and Trends

RF Spectrum Crunch to trigger the market

The advances in the internet of things (IoT) and emergence of 5G are likely to increase the burden on the radio frequency (RF) spectrum. This increased pressure has subsequently led to accelerated demand for Li-Fi based communication. Simply put, combination of factors like massive bandwidth in light of growing RF spectrum crunch coupled with high degree of security, availability, and energy efficiency is anticipated to propel the global Li-Fi market size.

On top of that, the reason why Li-Fi technology is so attractive is its unlimited capacity of visible light that is a lot bigger than the radio signal. Moreover, increasing application of location-based service is cited as a key driver of the LiFi market. For instance, rising demand from end-use industries such as hospitals, medical centers, and schools is bound to fuel the growth of the industry during the appraisal period.

The report suggests that the overall growth of the market will remain unaffected by the low degree of awareness about the technology. Industry experts forecast that the negative impact of the restraints will nullify over the time period with increasing consumer demand for wireless connectivity and higher data rates.

Access Report @ https://www.marketresearchfuture.com/reports/visible-light-communication-li-fi-market-3561

Industry Trends

Technological advancements to be a popular trend

VLNComm (U.S) has recently developed the industry’s fastest, most affordable and most innovative Li-Fi LED lighting panel. The LumiNex panel is capable of 108Mbps download speeds and the coverage is 516 square feet.

This revolutionary development portrays the capabilities of Li-Fi in the form of technological advancements. The evolution in technology enables the users to appreciate the complementary nature of Li-Fi in various applications.

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.

Retail to emerge as top contender amongst end-users

By end-user, the market is segmented into aerospace, automotive, education, healthcare, retail, government and others. Among these, the retail segment will manage to grow at the highest rate during the assessment period. LiFi in a retail store enables all possible data transfer, be it from the store front end or in store customer interaction, and also in back office. The technology ensures speed, security, energy efficiency along with data density which is mandatory in the retail industry.

Regional Analysis

MRFR report has analyzed the global Li-Fi market in regions of Asia Pacific (APAC), North America, Europe and Rest of the World.

North America forecasted to be the leading region

The North America region has captured the maximum market share globally, reasons being the increasing demand for energy efficient devices coupled with growing demand for high speed data communication in various industries. The fact that Li-Fi can be used in homes, commercial building, aircraft, and streets has propelled the appeal of the market in the region.

Asia-Pacific is expected to expand at the fastest growth rate during the forecast period. The high growth in the region is on account of increasing demand for internet connectivity combined with poor radio communications infrastructure particularly in rural areas of countries such as India.

Europe is also expected to grab onto a substantial share of the global Li-Fi market with United Kingdom (U.K), France and Germany leading the pack. The market size in the region is massive due to increasing deployment of Li-Fi systems in street light and small-scale commercial offices along with retail, museums.

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.

Industry News

• Li-Fi will soon be launched on nextLiFi's retail brand LIFIC (Li-Fi Communications) as a brand marketing strategy. This will be a new form of digital signage that will be made available to brands and retailers streaming real-time advertising on a new secure wireless infrastructure. This infrastructure uses light interacting with handsets and IoT devices. In other words, it will provide retailers the ability to send promotions to consumer’s handsets by displaying daily specials and offers within a shopping complex.