Li-Fi Market Analysis Focusing on Top Key Players – ntegrated System Technologies Ltd., Lightbee S.L., Lucibel, NAV Technologies, Signify, PureLiFi, SLD Laser, Velmenni, VLNComm, Renesas Electronics Corporation, General Electric, Oledcomm and Fujitsu

How will increased demand from communication applications impact Li-Fi market forecast?

Growing reliance on LI-Fi (light fidelity) technology in schools and research institutes to provide seamless and secure internet connectivity to students, is poised to drive global LI-Fi market outlook. Li-Fi technology offers new way of wireless communication that LED lights to transmit data wirelessly. It provides better connectivity, bandwidth, efficiency and security than Wi-Fi and is gaining wide-spread acceptance. By leveraging the low-cost nature of light emitting diodes and lighting units, there can be a lot of opportunities to utilize the potential of this medium.

Proliferation of internet, increasing reliance on cloud data and growing RF spectrum crunch is generating a huge demand for alternative wireless communication technologies. Li-Fi technology providers are collaborating with consumer electronics manufacturers to integrate Li-Fi enabled microcontrollers and chipsets in laptops, smart wearables, smartphones and other electronic devices. Potential Li-Fi implementation in automotive sector for V2V and V2R communication will foster business growth in the coming years.

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With the outbreak of COVID-19, several countries in North America, Asia Pacific and Europe have imposed restrictions on movement of people, impacting business operations. They current scenario may slow down the adoption of new technologies like Li-Fi, but the industry is anticipated to witness a steady growth 2021 onwards. Reports suggests that Li-Fi (Light Fidelity) market size will exceed USD 8 billion in terms of remunerations by 2030 globally.

Why are defense and security applications anticipated to foster global Li-Fi industry trends?

Li-Fi market is estimated to garner huge profits from defense & security applications over the coming years. The key factors which may fuel the adoption of the technology is the significant threats posed to security by RF and Wi-Fi, as they are highly vulnerable to data loss, leakage or data stealing.
The implementation of Li-Fi in the defense sector will ensure security of information transferred as well as stored. Besides security, this technology also ensures the stability of the connection to avoid data loss and is expected to gain massive popularity due to advantages associated with it.

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How are microcontroller-based Li-Fi devices expected to fare through 2030?

With increased implementation of Li-Fi technology, microcontroller Li-Fi devices will also witness significant demand. The growth is attributable to key advantage of the component; flexible and easy mounting ability on small spaces. These devices can be integrated with small ASICs which can further be implemented in several devices including laptops, tablets, smartphones and others.

With high flexibility of movement in a single device, microcontrollers can potentially reduce the requirements for large number of components for the installation of Li-Fi systems and will become the first choice of consumers in the coming years.

What factors are expected to drive the expansion of Asia Pacific Li-Fi market?

Robust penetration rate of smartphones, resulting in high demand for fast data transfer and straining of the existing radio frequency-based wireless networks is fueling the adoption of Li-Fi network in APAC region. Also, expansive potential of technology adoption in private, commercial, military and other sectors will supplement APAC Li-fi industry share in the coming years.

The competitive landscape of Li-Fi market comprises of key manufacturers including Lucibel, Oledcomm, Signify, Renesas Electronic Corporation, VLNComm, Acuity Brands, NAV Technologies.and SLD Laser, among others. These firms have been focusing on enhancing their position in the market through various organic and inorganic strategies such mergers, acquisitions, product development, new product launches, R&D, M&As, and others.

For Instance, Oledcomm launched its new GEOLiFi LED Tube in 2018. The device is equipped with GEOLiFi technology by Oledcomm, that is capable of transforming the LED lighting network into a fast and reliable indoor positioning system. The new product launch has strengthened the company’s position in the marketplace.

Arun Hegde
Corporate Sales, USA
Global Market Insights, Inc.
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Email: sales@gminsights.com

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This release was published on openPR.