Li-fi Market Acuity - Upcoming Scope 2028 | Brands, Inc, Lightbee Corp.
The demand within the global market for Li-Fi has been expanding on account of the high speed wireless communication offered by this technology. Li-Fi, or Light Fidelity, uses light-emitting diodes to transfer data across large distances, and this technology is gradually gathering momentum across the residential, commercial, and industrial sectors. It is expected that the demand within the global market for Li-Fi would escalate alongside the growing need for data transmission across multiple industries. Li-Fi technology is different from Wi-Fi in the sense that the latter uses electro-magnetic waves for the transmission of data while the former uses light waves for the same purpose. The high-speed of Li-Fi is the prime reason behind its swift adoption across multiple sectors; nascent Li-Fi technologies are estimated to be 100 times faster than traditional Wi-Fi. The rate of operation for Li-Fi technology is low to moderate, and this technology is unidirectional. Furthermore, unlike other modes of data transmission, Li-Fi can function in the absence of line of sight between the receiver and the transmitter.
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The global market for Li-Fi technology can be segmented based on the following parameters: component type, application, and region. It is important to understand each of these segments in order to delve into the global market for Li-Fi.
The report on the global market for Li-Fi portrays a range of forces that have been contributing towards the growth of the global market for L-Fi over the past decade. The need for better wireless transmission of data, expanding industrial bases, and other related factors have been considered while asserting the dynamics of the global market for Li-Fi.
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Global Li-Fi Market: Trends and Opportunities
The ability of Li-Fi technology to transfer data at high speeds without external interferences and with a high bandwidth is the prime reason behind the growth of the global market for Li-Fi. The speed at which Li-Fi transfers data is comparable or even greater than the speed delivered by Wi-Fi access points. This is another key contributor to the growth of the global market for Li-Fi that has created lucrative opportunities for market players. It is projected that a substantial amount of internet traffic would come from videos over the coming years. As buffering of videos require high bandwidths and faster transmission speeds, the demand for Li-Fi is projected to escalate to new heights over the coming years.
Li-Fi technology has also gained popularity as it uses light waves instead of radio waves, and the former does not have any negative impacts on the health of humans. On the negative end, the low awareness levels of the masses about the uses of Li-Fi technology is expected to hamper the growth of the global market.
Global Li-Fi Market: Regional Outlook
The market for Li-Fi has been expanding at a robust rate in North America, primarily due to the growth of the telecommunications industry in the US and Canada. Furthermore, the benefits of Li-Fi technology are known to the common masses as well as the industrial heads who are willing to replace Wi-Fi systems with Li-Fi technologies. It is also expected that the market for Li-Fi in Europe and Asia Pacific would expand alongside the successful marketing strategies adopted by market players in these regions.
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Global Li-Fi Market: Competitive Landscape
Some of the key players in the global market for Li-Fi are Axrtek, Acuity Brands, Inc, Lightbee Corp., and PureLifi Ltd.
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