Press release
Global Li-Fi Market Analysis by Top Key Players: GE, Fujitsu Global, Acuity Brands, Qualcomm, Panasonic, pureLiFi Ltd, Philips, Renesas Electronics
(Light Fidelity) Li-Fi Market
Li-Fi Market size is anticipated to reach USD 75.5 billion by 2023; as per a new research report by Global Market Insights, Inc.High security compared to traditional radio communications since light cannot pass through walls will be a compelling driver for technology adoption.
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Significant LED infrastructure driven by reducing prices, high degree of energy efficiency, and high installation in residential as well as public spaces will prove beneficial to Li-Fi market size in the coming years. Megatrends such as Industry 4.0 and significant growth prospects in the IoT market will present high profitability avenues. Smart homes industry size will be propelled by increased connectivity demand and initiatives undertaken by major participants. This is forecast to drive Li-Fi market size over the forecast timeframe.
The Li-Fi market consists of large number of suppliers of raw materials that are used to manufacture Li-Fi enabled products. Raw materials such as LEDs (light emitting diode), microcontroller, and photodetector used to enable these solutions.
LED components will continue remaining the largest industry segment, with revenue forecast to surpass USD 33 billion by 2023. These products can be used off-the-shelf since they combine illumination with the ability to modulate brightness, which can be received and used as data.Intrinsically safe environments that cannot tolerate the usage of Wi-Fi technology will be a high growing application area. Li-Fi market share in this space will grow at over 88% CAGR estimations from 2016 to 2023.
Company profiled in this report based on Business overview, Financial data, Product landscape, Strategic outlook & SWOT analysis:
1. GE
2. Fujitsu Global
3. Acuity Brands
4. Qualcomm
5. Panasonic
6. pureLiFi Ltd
7. Philips
8. Renesas Electronics
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Asia Pacific is forecast to emerge as the leading region in the coming years. The industry expects high growth in the region on account of internet connectivity demand coupled with poor radio communications infrastructure in rural areas of countries like India.
U.S. Li-Fi market share is projected to grow at 78.0% CAGR from 2016 to 2023; it was valued at around USD 190 million in 2015. The European industry is an early adopter, characterized by considerable research and product development initiatives. High demand for wireless communications across sectors where Wi-Fi cannot be employed will drive growth over the forecast timeframe.
Some Key Players in Li-Fi market include Axrtek, Renesas Electronics, Oledcomm S.A.S., GE, IBSENtelecom Ltd., Lightbee Corp., Fujitsu Global, Acuity Brands, Inc, Qualcomm, Panasonic, LVX Minnesota Corporation, PureLifi Ltd., Philips, Lucibel, Velmenni, and Integrated System Technologies Ltd.
Browse Full Reports:https://www.gminsights.com/industry-analysis/lifi-market
About Global Market Insights
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.
Contact Us:
Arun Hegde
Corporate Sales, USA
Global Market Insights, Inc.
Phone: 1-302-846-7766
Toll Free: 1-888-689-0688
Email:sales@gminsights.com
Web:https://www.gminsights.com
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