Press release
Light Fidelity (Li-Fi)/Visible Light Communication Market Report 2024: Strategies And Recent Developments | General Electric Company, Oledcomm SA, Renesas Electronics Corporation, PureLiFi Ltd., Lvx System GmbH, Acuity Brands Lighting Inc
Light Fidelity (Li-Fi)/Visible Light Communication Market Trends
The Business Research Company offers in-depth market insights through Light Fidelity (Li-Fi)/Visible Light Communication Global Market Report 2024, providing businesses with a competitive advantage by thoroughly analyzing the market structure, including estimates for numerous segments and sub-segments.
Market Size And Growth Forecast:
The light fidelity (li-fi)/visible light communication market size has grown exponentially in recent years. It will grow from $260.42 billion in 2023 to $567.29 billion in 2024 at a compound annual growth rate (CAGR) of 117.8%. The growth in the historic period can be attributed to increasing demand for high-speed data transmission, limited availability of radio spectrum, data security concerns, internet of things (iot) connectivity needs, energy efficiency concerns, enhanced data transfer in specific environments.
The light fidelity (li-fi)/visible light communication market size is expected to see exponential growth in the next few years. It will grow to $12993.59 billion in 2028 at a compound annual growth rate (CAGR) of 118.8%. The growth in the forecast period can be attributed to 5g integration and coexistence, smart city initiatives, increased connectivity in retail and hospitality, healthcare communication solutions, educational institutions and workplace deployments. Major trends in the forecast period include integration with 5g networks, li-fi in healthcare, li-fi in retail and indoor navigation, li-fi for secure communication, li-fi in automotive connectivity, li-fi for sustainable connectivity.
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Market Segmentation:
The light fidelity (li-fi)/visible light communication market covered in this report is segmented -
1) By Component: LED, Photodetectors, Microcontrollers (MCU)
2) By Transmission Type: Unidirectional, Bidirectional
3) By Application: Indoor Networking, LBS (Location Based Services), In-Flight Communication and Entertainment, Underwater Communication, Other Applications
4) By Industry Vertical: Retail, Electronics, Defense and Security, Automotive and Transport, Aerospace and Aviation, Healthcare, Other Industry Verticals
Major Driver - Growing Concerns Over Cybersecurity Fuel The Surge In Light Fidelity (Li-Fi)
Increasing concern over cyber security is expected to propel the growth of the light fidelity (Li-Fi)/visible light communication market going forward. Cyber security refers to the practice of defending computers, servers, mobile devices, electronic systems, networks, and data from malicious attacks. Li-Fi, which is using visible light for the transmission of data, is considered to be more secure than its predecessor, as security has been built into the channel itself, as a result, increasing concerns over cybersecurity increase the demand for (Li-Fi)/visible light communication market. For instance, in 2021, according to the Federal Bureau of Investigation's Internet Crime Report, a US-based federal agency for investigating cyber-attacks and intrusions, in the USA, complaints registered under cybercrimes reached a total of 84.7k cases, showing an increase of 7% from 2020. Therefore, the increasing concern over cyber security is driving the light fidelity (Li-Fi)/visible light communication market.
Competitive Landscape:
Major companies operating in the light fidelity (li-fi)/visible light communication market report are General Electric Company, Oledcomm SA, Renesas Electronics Corporation, PureLiFi Ltd., Lvx System GmbH, Acuity Brands Lighting Inc., IBSENtelecom Ltd., Koninklijke Philips N.V., Panasonic Holdings Corporation, Qualcomm Technologies Inc., Firefly Wireless Networks LLC, Velmenni Oy, Visilink Technologies Inc., Signify Holding B.V., VLNComm Inc., LumEfficient Inc., Plaintree Systems Inc., Casio Computer Co. Ltd., Axrtek Co. Ltd., ByteLight Inc., Lightbee Corporation, LightPointe Communications Inc., Samsung Electronics Co. Ltd., Toshiba Corporation, Air France - KLM Group, Airbus SE, Audi AG, The Boeing Company, Continental AG, Daimler AG, Delta Air Lines Inc., Emirates Airline, Etihad Airways PJSC, Ford Motor Company .
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Top Trend - Rapid Technological Advancements Drive Growth In The Light Fidelity (Li-Fi)
Technological advancements are a key trend gaining popularity in the light fidelity (Li-Fi)/visible light communication market. Major companies operating in the light fidelity (Li-Fi)/visible light communication sector is focused on developing new technological solutions to meet customer demand. For instance, in May 2022, Signify, a Netherlands-based company operating in Light fidelity (Li-Fi) Visible light communication, launched Trulifi, a line of commercially available LiFi systems, including the fastest and most dependable systems in the world. The product has unique features such as it uses a light source for providing extremely reliable, secure two-way wireless communications and includes Philips luminaires using optical wireless transceiver technology. This would imply that consumers can obtain excellent illumination and wireless connectivity without having to tear down and replace their current lighting infrastructure. It also provides wireless connectivity in large areas, such as conference rooms and office floors, at speeds of up to 150 Megabits per second (Mbps), which is quick enough to stream 30 1080p HDTV movies at once.
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Light Fidelity (Li-Fi)/Visible Light Communication Market Characteristics
3. Light Fidelity (Li-Fi)/Visible Light Communication Market Trends And Strategies
4. Light Fidelity (Li-Fi)/Visible Light Communication Market - Macro Economic Scenario
5. Light Fidelity (Li-Fi)/Visible Light Communication Market Size And Growth
…..
27. Light Fidelity (Li-Fi)/Visible Light Communication Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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