Li-Fi Market 2018 Net Worth USD 51 Billion Forecast By 2023

“\” Li-Fi Market \””
Li-Fi Market, By Component (LED, Optical Sensing, Microcontroller, Photo Detector), By Application (Smartphone, Standalone Tracker, Advance Tracker) and By End User – Forecast 2023

“Global Li-Fi Market Research Report 2018-2023” This report researches the worldwide Li-Fi Market size (value, capacity, production and consumption) in key regions like North America, Europe, Asia Pacific (China, Japan) and other regions. The report provides a unique tool for evaluating the Market, highlighting opportunities, and supporting strategies. This report recognizes that in this rapidly-evolving and competitive environment, up-to-date Marketing information is essential to monitor performance and make critical decisions for growth and profitability. It provides information on trends and developments, and focuses on Markets and materials, capacities and technologies, and on the changing dynamics of the Li-Fi Market.

According to Market Research Future Analysis, Li-Fi market has been valued at approx. USD 51 Billion by the end of forecast period with 70% of CAGR during forecast period 2017 to 2023.

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Key Players:

The prominent players in Li-Fi market are – General Electric (U.S.), Koninklijke Philips N.V. (the Netherlands), Oledcomm (France), PureLiFi Limited (U.K), Panasonic Corporation (Japan), Acuity Brands, Inc. (U.S.), LightPointe Communications, Inc. (U.S.), Velmenni (Tartu), LightBee Corporation (U.S.), FSONA Networks (U.K) and others

Li-Fi Market – Highlights

Li-Fi market is estimated to exhibit high growth potential during the forecast period owing to technological advancements and increasing demand for high speed data communication. The Li-Fi network comprises of LED lighting technology to transmit electronic data signals that enables users to access internet through ordinary lighting system in schools and colleges. The energy efficient LED and provision of secure wireless network is boosting the Li-Fi market. The growing internet usage through smartphones and other electronic gadgets is further fuelling the growth of LiFi market. Growing demand for innovations and increasing technological advancements are other factors responsible for fueling the growth of Li-Fi market.

Li-Fi market- Segmentation

Li-Fi market has been segmented on the basis of component, application and end user. The application segment is further bifurcated into smartphone, standalone tracker, advance tracker and others. Out of which, the smartphone segment is expected to dominate the overall Li-Fi market and the advanced tracker segment is expected to grow at the highest rat during the forecast period. The major factor that drives the smartphones market is connectivity. The better the connectivity, the vivid the user experience. So smartphones segment is sure to drive the applications market of LI-FI. Whereas, advance trackers help in indoor positioning of devices. Retailers use these kinds of advanced trackers for maintaining a history of customers and about the behavior of customers while shopping. They are also commonly used for pet tracking. Owing to such factors, advance tracker segment is expected to grow at a significant rate. The growing utilization of smart LED lighting technology in commercial, industrial and residential sector is fostering the Li-Fi market. The growing adoption of LED lighting technology in site lighting application such as parking lot is increasing owing to its energy efficient characteristics and low maintenance cost.

The major factor restraining the growth of Li-Fi market is the lack of awareness and that the Li-Fi signal cannot penetrate through walls. This is owing to the sensor technology that fails to transmit the digital information in presence of an obstacle. This could be a major factor that could cause hindrance in the growth of Li-Fi market. The absence of line of sight in transmission of data through walls is hampering the Li-Fi market.

Commenting on the report, an analyst from Market Research Future (MRFR)’s team said:  

Li-Fi market can be segmented on the basis of component, application and end user. The emerging Li-Fi technology offers strong security over information transmission. Since, the information carried over Li-Fi cannot penetrate through walls. Li-Fi internet is available to users within the room, thus the person sitting in other room or building cannot breach or hack the sensitive data. This strong security feature is responsible for fueling the growth of Li-Fi market and boosting the overall Li-Fi market.

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Li-Fi market – 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.

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