Li-Fi Enabled Communication System Market 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 - Acuity Brands, Lucibel SA, NextLIFI

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.

North America was the leading geographic region in the Li-Fi enabled communication system market and it is anticipated to be the highest revenue contributor throughout the forecast period. High disposable incomes of individuals, investment in advanced technologies, huge consumer electronics industry are some of the major factors driving the growth in this region. The penetration of consumer electronic devices in the region is very high and devices like smartphones, tablets and personal computers have found a broader user base in North America.

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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.

Li-Fi Enabled Communication System Market - Company Profiles

Acuity Brands, Inc.
Fraunhofer HHI
Global LiFi Tech
Infinity Technology Services Limited
Lucibel SA
NextLiFi
Oledcomm
PureLiFi
Signify N.V.
VLNComm

The Li-Fi enabled communication system market is categorized on basis of the system’s components as LEDs, photo detectors, micro controllers and others. The other segment comprises of amplifiers, radio transmitter & receivers among others. Significant penetration of LEDs across industries, increasing partnerships among the Li-Fi technology developers and ecosystem partners is driving the growth of Li-Fi enabled communication system market.

The global Li-Fi enabled communication system market is classified on basis of different end users as smart home, smart city, automotive, education, retail, healthcare, government, transportation and others. The others segment includes end user industries such as petrochemicals, telecom, aviation, disaster management and BFSI among others. Smart city program authorities as well as governments are opting for Li-Fi based connectivity. Smart cities could definitely benefit from Li-Fi enabled street lights to provide internet access to mobile phones. The developed countries are witnessing the rise in numbers of smart home, which is benefiting the Li-Fi technology developers in the current scenario.

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Retail, Smart City, Education, and healthcare are the prominent end user segments of Li-Fi enabled communication system. Various companies operating in the market are undertaking initiatives to propel Li-Fi technology in these sectors. Additionally, the smart hospitals are integrating their infrastructures with Li-Fi enabled communication system which is also propelling the market growth.

Global Li-Fi Enabled Communication System Market – By Component

LED
Photo Detector
Micro Controller
Others

Global Li-Fi Enabled Communication System Market – By End-User

Smart Home
Smart City
Automotive
Education
Retail
Healthcare
Government
Transportation
Others

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Key Benefits for Li-Fi Enabled Communication System Market:

• This study presents analytical depiction of the Li-Fi Enabled Communication System market analysis along with the current trends and future estimations to depict the imminent investment pockets.
• The overall market potential is determined to understand the profitable trends to gain a stronger foothold.
• The report presents information related to key drivers, restraints, and opportunities of the market with a detailed impact analysis.
• The current Li-Fi Enabled Communication System market size is quantitatively analyzed from 2019 to 2027 to benchmark the financial competency.
• Porter’s five forces analysis illustrates the potency of the buyers and suppliers in the Li-Fi Enabled Communication System industry.

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This release was published on openPR.