Press release
What’s driving the Li-Fi Market Growth? | Top Key Players are Nokia, Accenture, Palo Alto Networks, Huawei Technologies, SolarWinds, Cisco, Microsoft
Li-Fi Market
Li-Fi Market in LED segment is expected to exceed USD 30 billion by 2023 owing to government support for energy conservation. Location based services is expected to grow at over 75% CAGR during the forecast timeframe. This service enhances shopping experience by giving accurate information about the location and current offers on products available in the store which in turn helps the owners to manage the inventory.
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LED technology is utilised due to benefits offered such as minimal maintenance, long life span and high efficiency for data transfer at high speeds. Countries have taken necessary initiatives for the adoption of LED technology to conserve energy. Government supports LED industry by providing OEMs with financial subsidies, incentives and resources for improving manufacturing processes which in turn will drive the Li-Fi market.
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
Chapter 3 Li-Fi market Insights
3.1 Industry segmentation
3.2 Industry size and forecast, 2013 - 2023
3.3 Industry ecosystem analysis
3.3.1 Vendor matrix
3.4 Technological evolution
3.5 Industry impact forces
3.5.1 Growth drivers
3.5.1.1 Massive bandwidth spectrum
3.5.1.2 High degree of security
3.5.1.3 Network availability
3.5.1.4 Increased efficiency
3.5.2 Industry pitfalls & challenges
3.5.2.1 Limited network coverage or short range
3.5.2.2 High electricity consumption
3.5.2.3 Lack of awareness
3.6 Growth potential analysis
3.7 Competitive landscape, 2015
3.7.1 Strategy overview
3.8 Porter’s analysis
3.9 PESTEL analysis
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Technology involves visible light instead of radio waves to reduce the negative impact on population. Moreover, it provides various features such as massive bandwidth, availability, energy efficiency and security which offers solution to increased data rates and spectrum crisis which will enhance the Li-Fi market in giving stable internet services.
Less awareness among the individuals may limit adoption of the technology in the upcoming years. Technical issues such as light cannot penetrate the walls, sunlight interfering the signals, outdoor signal interception, and location limitations may act as a challenge for the Li-Fi market.
Integration of technology with solar panels will create self-powered receivers opening the routes for backhaul, rural broadband, Internet of Things and low cost beacons. In addition, intrinsically safe environments which cannot implement Wi-Fi will support the nascent technology.
U.S. Li-Fi market exceeded USD 150 million in 2015. Europe will witness high adoption rate with considerable technology innovations. Li-Fi market players include Purelifi Ltd, Philips, Oledcomm, ByteLight, Visilink, GE, LVX, Velmenni, etc. Increasing number of participants provide technological differentiation and innovations. The industry consists of considerable number of raw material suppliers such as microcontroller, LEDs, and photodetectors for manufacturing Li-Fi enabled components. Players focus on building partnerships and collaborations for industry expansion.
(Light Fidelity) Li-Fi Market is expected to grow at over 80% owing to increase in adoption of communication technology coupled with energy efficient lighting solutions during 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 Report: 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.
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