Li-Fi Enabled Communication System Market trend shows a rapid growth by 2027 - Acuity Brands, General Electric, IBSENtelecom, LightPointe Communications, LightBee, Panasonic, Philips Lighting
The Global Li-Fi Enabled Communication System Market accounted to US$ 1,229.0 Mn in 2018 and is expected to grow at a CAGR of 73.7% during the forecast period 2019 - 2027 to account to US$ 167,496.4 Mn by 2027.
Internet of things (IoT) plays a crucial role in the deployments and demands for Li-Fi technology in this region. The majority of the world’s largest technology companies have favored in the high economic growth which drives the Li-Fi enabled communication system market in the region.
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Top key Players profiles in this Report includes, Acuity Brands, Inc., General Electric, IBSENtelecom Ltd., LightPointe Communications, Inc., LightBee Corporation, Panasonic Corporation, Philips Lighting B.V. (Philips Lighting), PureLi-Fi Ltd., Velmenni R&D Pvt. Ltd., VLNComm Inc. (VLNComm).
The global Li-Fi enabled communication system market is flourishing at an impressive rate and the same is expected to experience exponential growth rate in the coming years. In terms of geographical growth, Europe is the one of the largest markets for Li-Fi enabled communication systems. The wireless industry of the EU is considered to be a crucial industry as it significantly contributes to the country’s GDP as well as provides employment to millions of people in the region. The automotive sector of the EU is considered to be a crucial industry as it significantly contributes to the country’s GDP. EU is also the leading producer of motor vehicles and several premium automotive manufacturers are based in the region.
With the increase in high-speed data connectivity, numerous players in this region are taking initiatives for the deployment of Li-Fi technology. For instance, in February 2019, Netherlands based company, Signify – a global leader in lights has announced that the company is operating with more than 30 customers across North America, Europe, and the Asia Pacific in order to test and commercialize its Li-Fi system. The company’s Li-Fi enabled luminaires to comprise of superior energy-efficient lights that offer high-speed, secure, and stable wireless communication using light waves.
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Global Li-Fi Enabled Communication System Market – By Component
• Photo Detector
• Micro Controller
Global Li-Fi Enabled Communication System Market – By End-User
• Smart Home
• Smart City
New market initiatives were observed as the most adopted strategy in global Li-Fi Enabled Communication System industry. Few of the recent market initiatives are listed below:
2019: Zumtobel a prominent provider of professional lighting and associated services announced a partnership with pureLiFi with the aim of stepping into wireless enterprise network market.
2019: Signify announced 30 pilot projects across North America, Europe, and Asia for the trial of its commercial Li-Fi system.
2018: BMW successfully completed three-year test using the LED light to transfer automobile inspection information in a factory floor robot. Through this, the system performed has increased remarkably.
2018: nextLiFi and Two Bulls announced a strategic partnership with the aim of developing next generation wireless application using light for data transmission.
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Company: The Insight Partners
Contact: Sameer Joshi
The Insight Partners is a one stop industry research provider of actionable intelligence. We help our clients in getting solutions to their research requirements through our syndicated and consulting research services. We are a specialist in Technology, Media, Healthcare and Telecommunication industries.
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