Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review
Smartphones are becoming increasingly popular as the primary device for accessing the internet, and the demand for high-speed and secure wireless data connectivity is growing. Li-Fi technology offers several advantages over traditional Wi-Fi technology, including higher bandwidth and increased security, making it an attractive solution for providing wireless data connectivity to smartphones, boosting the growth of the Li-Fi market.
The market segmentation, based on Type, includes Li-Fi Lamp, LifiDongal, Access Point, and LiFi Kit. The LifiDongal segment holds the majority share in 2022, contributing to the  Li-Fi revenue. LiFi dongles are small devices that can be plugged into a computer or mobile device to provide wireless data connectivity. They use Li-Fi technology to transmit data and are a popular solution for providing wireless internet access in areas where Wi-Fi is not available or is not reliable.
Based on Application, the market segmentation includes smartphones, Standalone, and Advance Tracker. The Advance Tracker segment dominated the market. Advanced trackers are devices that are used to track the movement of individuals and objects in real-time using Li-Fi technology. The technology provides a cost-effective and secure way to track the movement of individuals and objects, making it suitable for a wide range of applications, including inventory management, location tracking, and industrial automation.
Based on Vertical, the market segmentation includes ​​​​​​​ Education, Retails, Healthcare, Aviation, Exhibition, and Others. The Aviation segment is projected to be the faster-growing segment during the forecast period, 2023-2030. Li-Fi technology offers several advantages over traditional Wi-Fi technology for use in aviation, including higher bandwidth, improved reliability, and increased security.
Figure 2: Â Li-Fi Market, by Type, 2022 & 2030 (USD Million)
Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review
By region, the study provides market insights into North America, Europe, Asia-Pacific, and the Rest of the World. North America is anticipated to have the greatest market share. It is anticipated that the region's established infrastructure and developing technologies would present an attractive potential for the expansion of the Li-Fi market. In contrast, the US military is anticipated to demonstrate more need for Li-Fi due to the expansion of activities in the naval sector.
Figure 3: Â LI-FI MARKET SHARE BY REGION 2022 (%)
Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review
The Asia-Pacific area has a rising customer base for smartphones and electronic devices, which has increased in recent years. Furthermore, the prospective benefits of Li-Fi technology, such as improved connection and increased demand for navy and other applications, are propelling the Li-Fi Industry forward. The dropping price of smartphones and IoT devices with fast data transfer speeds in the Asia-Pacific region, on the other hand, is regarded as the key driving driver of the Li-Fi Market.
Major market players are spending a lot of money on R&D to increase their product lines, which will help the market grow even more. Market participants are also taking various strategic initiatives to grow their worldwide footprint, with key market developments such as new product launches, contractual agreements, mergers and acquisitions, increased investments, and collaboration with other organizations. Competitors in the Li-Fi industry must offer cost-effective items to expand and survive in an increasingly competitive and rising market environment.
Manufacturing locally to cut operating costs is one of the main business tactics manufacturers use in the  Li-Fi industry to benefit customers and expand the market sector. Major market players, including General Electric, PureLiFi, Koninklijke Philips, Panasonic, Casio, and others, are attempting to increase market demand by funding R&D initiatives.
The corporation Panasonic focuses on the design, production, and marketing of electronic equipment. It provides a variety of services including air conditioning, business communication systems, document scanners, housing equipment devices, optical disc archive solutions, displays, and ventilating fans. The business provides services to energy, entertainment, financial, healthcare, and other industries.
PureLiFi is a firm that specializes in Li-Fi and visible light communication technology research and development. It enables users to communicate data across devices by utilizing visible light generated by LED lights. The company introduces Gigabit LiFi, LiFi-XC, and Gigabit Light Antenna data transmitters as well as a LiFi phone case.
August 2022:Â PureLiFi has released the latest Kernel version 5.19, which is widely regarded as a significant upgrade integrating security and network enhancements, as well as LiFi drivers to enable pureLiFi devices. The official Linux Kernel serves as the foundation for all Linux distributions, including Ubuntu and Fedora for PCs and servers, as well as Android for mobile devices.
| Report Attribute/Metric | Details |
| Market Size 2022 | USD 12.78 Billion |
| Market Size 2023 | USD 25.56 Billion |
| Market Size 2030 | USD 116.96 Billion |
| Compound Annual Growth Rate (CAGR) | 31.60% (2023-2030) |
| Base Year | 2022 |
| Market Forecast Period | 2023-2030 |
| Historical Data | 2018 & 2022 |
| Market Forecast Units | Value (USD Million) |
| Report Coverage | Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Type, Application, Vertical, and Region |
| Geographies Covered | North America, Europe, Asia Pacific, and Rest of the World |
| Countries Covered | The U.S, Canada, Germany, France, UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil |
| Key Companies Profiled | Acuity Brand Lighting, General Electric, Koninklijke Philips, Lightbee Corp, LVX System Corp, Pure Li-Fi, Oledcomm, Avago Technologies, Panasonic, Casio |
| Key Market Opportunities | Smart lighting solutions are being embraced by major sectors for saving on energy expenses |
| Key Market Dynamics | Adoption of LED lights and their associated ecosystem by customers |
Frequently Asked Questions (FAQ) :
The Li-Fi market size was valued at USD 12.78 Billion in 2022.
The market is projected to grow at a CAGR of 31.60% during the forecast period, 2023-2030.
North America had the largest share of the Li-Fi market.
The key players in the market are Acuity Brand Lighting, General Electric, Koninklijke Philips, Lightbee Corp, LVX System Corp, Pure Li-Fi, Oledcomm, Avago Technologies, Panasonic, and Casio.
The LifiDongal category dominated the market in 2022.
The Advance Tracker segment had the largest share in the market for Li-Fi.
Research Analyst Level II With a technical background in information technology & semiconductors, shubham has 4.5+ years of experience in market research and analytics with the tasks of data mining, analysis, and project execution. he is the poc for our clients, for their consulting projects running under the ict/semiconductor domain. shubham holds a bachelor’s in information and technology and a master of business administration (mba). shubham has executed over 150 research projects for our clients under the brand name market research future in the last 2 years. his core skill is building the research respondent relation for gathering the primary information from industry and market estimation for niche markets. he is having expertise in conducting secondary & primary research, market estimations, market projections, competitive analysis, analysing current market trends and market dynamics, deep-dive analysis on market scenarios, consumer behaviour, technological impact analysis, consulting, analytics, etc. he has worked on fortune 500 companies' syndicate and consulting projects along with several government projects. he has worked on the projects of top tech brands such as ibm, google, microsoft, aws, meta, oracle, cisco systems, samsung, accenture, vmware, schneider electric, dell, hp, ericsson, and so many others. he has worked on metaverse, web 3.0, zero-trust security, cyber-security, blockchain, quantum computing, robotics, 5g technology, high-performance computing, data centers, ai, automation, it equipment, sensors, semiconductors, consumer electronics and so many tech domain projects.
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