Press release
(light fidelity) Li-Fi Market Report Key Players: Axrtek,Renesas Electronics Corporattion,Oledcomm S.A.S.,GE Lighting,IBSENtelecom Ltd.,Lightbee Corp.,Fujitsu,Acuity Brands, Inc,,Qualcomm Incorporated,,Panasonic Corporation
(light fidelity) Li-Fi Market
The healthcare sector is expected to surpass a revenue of USD 2.6 billion by 2023. The growth of (light fidelity) Li-Fi market across the medical sector is primarily driven by its capability to transfer data at a very high speed. In addition, considering the health concerns, Li-Fi is preferred over Wi-Fi for the interdepartmental medical facilities such as sharing the patient's data with the other department.
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Considering the components, (light fidelity) Li-Fi market is mainly divided into LED, Microcontroller, Photodetector. LED or light emitting diode industry share is anticipated to grow at a rate of 79% from 2016 to 2023. Shifting trends toward the energy-efficient product will boost the demand for LED. Photodetector covered 30% of the overall Light-fidelity (Li-Fi) market share in 2015 and will exhibit attractive growth rate in the years ahead.
High demand for wireless communications will enhance the growth of this technology across the globe. Asia Pacific Li-Fi market, which had a revenue of approx. USD 185 million in 2015, is forecast to be the leading region over the coming years. This is on account of high internet connectivity demand along with poor radio communication infrastructure in rural regions of countries like India.
The US Li-Fi market share is expected to grow at a CAGR of 78 % over 2016-2023, having been valued at approx. USD 190 million in 2015. In the Middle East, UAE based technology company Zero.1 in partnership with telecommunication service provider du will soon launch Li-Fi service in Dubai.
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Key Industry participants in the Li-Fi market are PureLifi, Philips, GE, LVX, Oledcomm, etc. The technology demands an advanced product portfolio which is encouraging strategic alliances and mergers & acquisitions amongst the corporate firms. The applications of this technology shall pave a way for the players to gain profitability by redesigning and expanding their product landscape. Some major opportunities in the Li-Fi industry shall be witnessed in the coming years in the areas like smart LED lighting for commercial buildings and private homes, smart lightening of public areas like stations & airports, smart stores, traffic updates from traffic lights and route management in railways etc.
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