Press release
Li-Fi Market: Product Development Strategies by Major Industry Players: General Electric, Oledcomm, Renesas Electronics, pureLiFi, LVX SYSTEM, Acuity Brands Lighting, Qualcomm, IBSEN telecom, Philips and Panasonic
Light Fidelity (Li-Fi)/Visible Light Communication Market
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Light Fidelity (Li-Fi)/Visible Light Communication Market Key Benefits:
o This report provides an in-depth analysis of the global Li-Fi market along with the current trends and future estimations, which helps identify lucrative investment opportunities
o This report identifies the key drivers, opportunities, and restraints that prevail in the industry channels that shape the Li-Fi market along with their impact analysis
o Porter's Five Forces analysis highlights the potency of buyers and suppliers that participate in this market to facilitate better business decisions for stakeholders and strengthen their supplier and buyer networks
o The projected Li-Fi market estimations of geographical regions are based on the current market scenario as well as future trends
The Li-Fi market is segmented on the basis of component, industry vertical, and geography.
Based on component, the market is segmented into LED, photo detector, and microcontroller (MCU). Furthermore, the market is categorized on the basis of industry vertical which include retail, electronics, defense & security, automotive & transport, aerospace & aviation, and healthcare. Further, the market is analyzed based on four regions, namely, North America, Europe, Asia-Pacific, and LAMEA.
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Light Fidelity (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.
Li-Fi 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.
Under the industry vertical segment, retail industry contributed over 30% of the overall Li-Fi market. 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.
North America dominated the market 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.
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.
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Light Fidelity (Li-Fi)/Visible Light Communication Market Segmentation
The Li-Fi market is segmented on the basis of component, industry vertical, and geography.
BY COMPONENT
o LED
o Photodetectors
o Microcontrollers (MCU)
BY INDUSTRY VERTICAL
o Retail
o Electronics
o Indoor networking
o Smart streetlights
o Defense & Security
o Military operations
o Underwater communication in navy
o Automotive & Transport
o V2V communications
o Traffic management
o Aerospace & Aviation
o inflight communication and infotainment
o Space crafts
o Healthcare
o Others (mining and chemical)
BY GEOGRAPHY
o North America
o U.S.
o Canada
o Mexico
o Europe
o UK
o Germany
o France
o Russia
o Italy
o Rest of Europe
o Asia-Pacific
o China
o Japan
o India
o South Korea
o Rest of Asia-Pacific
o LAMEA
o Latin America
o Middle East
o Africa
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