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Li-Fi Market Trends, Analysis & Review Forecast 2027 | Top Key Players are Panasonic Corporation, Oledcomm, Koninklijke Philips N.V., LightPointe Communications, Inc.
Li-Fi Market
Besides, rising uses in industrial and military & defense applications substantiate the market sales. Technological advances in imaging solutions escalate the growth of the market, improving Li-Fi components & devices. According to Market Research Future (MRFR), the global Li-Fi market is poised to create an exponential valuation by 2027, growing at an impressive CAGR during the assessment period (2020 – 2027).
Global Li-Fi Market - Competitive Analysis
Highly competitive, the light-field market appears fragmented with the presence of several well-established players. To gain a sizable competitive share, industry players incorporate strategic initiatives such as mergers & acquisitions, collaboration, expansion, and product/technology launch. Substantial investments are transpired in R&D to develop a completely different technology compared to their competition.
Major Players:
Players leading the light-fidelity market include Panasonic Corporation (Japan), Oledcomm (France), Koninklijke Philips N.V. (the Netherlands), LightPointe Communications, Inc. (US), PureLiFi Limited (UK), and LightBee Corporation (US), FSONA Networks (UK), Velmenni (Tartu), Acuity Brands, Inc. (US), and General Electric (US), among others.
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Advances and integration of vehicle-to-vehicle (V2V) communication and machine learning can drive the need for Li-Fi to exchange data and prevent potential accidents. Additionally, the use of Li-Fi tracking fleets can bolster the market growth providing coverage in confined areas.
Global Li-Fi Market - Segments
The report is segmented into components, applications, end-users, and regions. The component segment is sub-segmented into LED, optical sensing, microcontroller, photodetector, and others.
At the same time, the LED segment garners a significant market, witnessing significant demand in industries and commercial establishments due to their high energy output, low consumption rate, and durability. The application segment is sub-segmented into smartphones, standalone trackers, advance trackers, and others. The end-user segment is sub-segmented into retail, automotive, and others.
Global Li-Fi Market - Regional Analysis
North America leads the global Li-Fi market owing to the high demand for energy-efficient devices and high-speed communication technologies. Besides, the largest market share attributes to the infrastructure and implementation of advanced technologies with better connectivity drive the market expansion in the region.
The presence of Li-Fi component manufacturers and technology development centers drives the market growth. The region witnesses increasing adoption of machine learning technologies and artificial intelligence, propelling the market growth.
The US and Canada are major Li-Fi markets contributing to the regional market growth. Moreover, developments in LED technology with extra shelf-life drive the region's LiFi market share. The high demand for Li-Fi technology in the defense, and commercial & industrial sectors are the major LiFi market trends.
Europe stands second in terms of the global Li-Fi market revenues. The high demand for optical sensing, microcontrollers, and photodetectors boosts the market growth, driving Li-Fi technology deployment in various applications. Additionally, the increasing penetration of advanced smartphones and tracking devices substantiates the market's growth in the region.
The rising awareness for Li-Fi application areas increases the market size. Germany and the UK are major Li-Fi markets in the region. The European Li-Fi market is projected to create a substantial revenue pocket during the assessment period.
The Asia Pacific region also accounts for a substantial Li-Fi market share. Increased spending to strengthen defense sectors and implementation of advanced Li-Fi technologies drives the growth of the regional market. Furthermore, enormous investments in R&D activities to develop related technologies and constant technological upgrades propel the regional market growth. China, Japan, and India are the emerging Li-Fi markets, offering significant opportunities for industry players.
Industry/Innovation/Related News:
May 18, 2021--- Airbus Corporate Jets (ACJ) announced its partnership with Latécoère Interconnection Systems, a leading electronic wiring interconnection system (EWIS) supplier, to develop the aircraft manufacturer's first Light Fidelity (Li-Fi) in-flight entertainment (IFE) monitor.
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About Market Research Future:
At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.
MRFR team have supreme objective to provide the optimum quality market research and intelligence services to our clients. Our market research studies by products, services, technologies, applications, end users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help to answer all their most important questions.
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