Light Fidelity (Li-Fi)/Visible Light Communication: Next Wireless Hit in the Global Technology Market

""""""""""""""""""The market of Li-Fi technology is currently at its introductory stage, although it is anticipated to witness a very high growth rate in next five to six years owing to its exclusive advantages, such as safe to use with medical and aviation equipment as they do not create electromagnetic interference, very high speed of data transmission, enhanced data security and broader bandwidth in comparison to currently prevailing Wi-Fi technology."""""""

Light Fidelity (Li-Fi) or Visible Light Communication Market report, published by Allied Market Research, forecasts that the global market is expected to garner $115 billion by 2022, registering a CAGR of 116.8% during the forecast period 2016 - 2022.

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Li-Fi is a very high speed, two-way wireless communication method which uses visible light from LEDs as the medium for transmitting the data by turning them on and off at very high frequency which human eyes cannot sense. This technology is an apt replacement for currently prevailing Wi-Fi technology as Li-Fi is considerably faster, has almost 10,000 times broader bandwidth because it uses visible light, and it is safe to operate in electromagnetic sensitive areas.

Visible Light Communication incorporates three major components, which are LED, photodetector, and microcontroller. Among the three components, in the year 2015, LED dominated the market by contributing over 40% share of the overall component segment revenue. Also, this segment is anticipated to grow with the highest CAGR 118.1% during the forecast period owing to its low cost, increased adoption in different applications such as households, offices, vehicles, airplanes and retail stores among others. Furthermore, LEDs are preferred over all other lighting systems as they can easily be turned off and on with the use of a microcontroller.

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Under the industry vertical segment, retail industry contributed over 30% of the overall Li-Fi market, in 2015. Li-Fi enables the storekeepers to monitor the positioning of customers by tracing their location to improve shopping experience and provide notifications on their cellphones. However, healthcare sector would be the fastest growing industry and is expected to register highest CAGR 125.3% during the forecast period. This is because Li-Fi does not cause any electromagnetic interference and can safely be used with other medical apparatus such as CT scanner, MRI machine, X-ray machine, and ultrasound machine among others.

North America dominated the market in 2015 by accounting for around 40% of the total market revenue and it is expected to maintain its dominance throughout the forecast period. This is accredited to the presence of various research and development facilities in the region and investment for implementation of this technology by the major companies in the region.

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Asia-Pacific is anticipated to be the fastest growing region among others with CAGR of 121.7% during the forecast period. This is attributed due to the large electronic market in China and Japan as well as presence of several developing regions where governments promote the use of LED lights. In Asia-Pacific, China holds about 50% of the market at present and is expected to maintain its leading position throughout the forecast period.

The key players in the Li-Fi market are focused on intensive research and development such as undergoing researches in Edinburgh University and the research facility of pureLiFi in United Kingdom, to improve their product quality and partnerships to reach untapped regions. Key players in the market have adopted product launch as their key strategy to grow in the market.

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CHAPTER 1 INTRODUCTION

1.1 Report description
1.2 Key benefits
1.3 Key market segments
1.4 Research methodology

1.4.1 Secondary research
1.4.2 Primary research
1.4.3 Analyst tools and models

CHAPTER 2 EXECUTIVE SUMMARY

2.1 CXO perspective

CHAPTER 3 MARKET OVERVIEW

3.1 Market definition and scope
3.2 Key findings

3.2.1 Top impacting factors

3.2.1.1 Technological superiority over currently prevailing Wi-Fi technology
3.2.1.2 Increasing adoption in industries such as retail, aerospace, defence & aviation
3.2.1.3 Impending RF spectrum crunch
3.2.1.4 Limited range of communication limits its applicability

3.2.2 Top investment pockets
3.2.3 Top winning strategies

3.3 Porters five force analysis

3.3.1 Bargaining power of suppliers
3.3.2 Bargaining power of buyers
3.3.3 Threats from the new entrants
3.3.4 Threats of substitutes
3.3.5 Competitive rivalry

3.4 Value chain analysis

3.4.1 Raw material
3.4.2 Manufacturing
3.4.3 Applications

3.5 Market share analysis
3.6 Drivers

3.6.1 Technological superiority over currently prevailing Wi-Fi technology
3.6.2 Increasing adoption in industries such as retail, healthcare, aerospace & aviation and defense & security
3.6.3 Impending RF spectrum crunch

3.7 Restraint

3.7.1 Limited range of communication limits its applicability

3.8 Opportunities

3.8.1 Increasing adoption for vehicle to vehicle communication in automotive industry
3.8.2 Impending need of high speed data transmission

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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

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