Li-Fi Market Size to Boost USD 14,913.3 Million By 2028 | CAGR 70.1% - Published by Emergen Research

The global Li-Fi market is expected to reach a market size of USD 14,913.3 Million by 2028 and register a high revenue CAGR, according to latest analysis by Emergen Research. Increasing demand for high-speed networks is a primary factor expected to drive growth of the global Li-Fi market during the forecast period. Growing demand for highly secure network systems in various industries is expected to further propel global market growth during the forecast period. Increasing demand for indoor networking in the retail industry globally is another factor expected to boost growth of the global Li-Fi market growth over the forecast period.

The Li-Fi market, an innovative wireless communication technology, has been garnering increasing attention in recent years. Li-Fi, short for Light Fidelity, utilizes light waves to transmit data, offering a promising alternative to traditional Wi-Fi technology. This emerging market is driven by several factors, including the growing demand for high-speed and secure wireless connectivity, particularly in dense urban environments where spectrum congestion is a concern. Li-Fi has the potential to revolutionize the way we access the internet and communicate by leveraging existing lighting infrastructure to provide seamless connectivity.

The report is attuned with the latest market changes and economic landscape with regard to the currently unfolding COVID-19 pandemic. The crisis has affected the demand and supply pattern, as well as the trends of the industry. It has also brought an economic slowdown that has affected the business of the key manufacturers of the industry. The report estimates the impact of this crisis on the current scenario and future prospects and provides a post-COVID market scenario.

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Drivers of the Li-Fi Market :

The rapid proliferation of Internet of Things (IoT) devices and the exponential increase in data consumption are significant drivers of growth in the Li-Fi market. With the advent of smart homes, smart cities, and connected devices, there is a pressing need for faster and more reliable wireless communication technologies. Li-Fi offers several advantages over traditional Wi-Fi, including higher data transfer rates, increased security, and immunity to electromagnetic interference. Additionally, the energy efficiency of LED lighting, which serves as the backbone of Li-Fi technology, aligns with the growing emphasis on sustainability and energy conservation.

Growth Factors of the Li-Fi Market :

Several factors are driving the growth of the Li-Fi market and overcoming its inherent challenges. Technological advancements, such as the development of Li-Fi-enabled integrated circuits and signal processing algorithms, are improving the performance and reliability of Li-Fi systems. Additionally, strategic partnerships between lighting manufacturers, telecommunications companies, and technology firms are facilitating the integration of Li-Fi technology into existing infrastructure and accelerating market adoption. Furthermore, ongoing research and standardization efforts aimed at addressing interoperability and compatibility issues are paving the way for broader acceptance of Li-Fi as a viable wireless communication solution.

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The report also discusses the key players involved in the market such as:

Oledcomm SAS, Panasonic Corporation, Signify Holding B.V., Velmenni OÜ, Renesas Electronics Corporation, PureLiFi Limited, Fsona Networks Corporation, Acuity Brands, Inc., Lucibel SA, and VLNComm Inc.

The report provides a thorough estimation of the overall impact of the pandemic on the Li-Fi Market and its vital segments. The report also discusses the impact of the pandemic across different regions of the market. It also offers a current and future assessment of the impact of the pandemic on the Li-Fi Market

Li-Fi Latest Industry News:

In January 2020, Oledcomm SAS introduced LiFiMAX1G in the LiFiMAX series. LiFiMAX1G enables 1Gbps upstream and 600Mbps downstream bandwidth at a gap of 1-5m for unparalleled Internet-Of-Things (IoT) and robotic connectivity.

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Li-Fi Market Segment Analysis :

Emergen Research has segmented the global Li-Fi market on the basis of component, application, end-use, and region.

Component Outlook (Revenue, USD Million; 2021-2028)

Photo-Detector
LEDs
Microcontroller
Optical Sensing
Others
Application Outlook (Revenue, USD Million; 2021-2028)

Underwater Communication
Standalone Tracker
Indoor Networking
Smartphone
Advance Tracker
Location-Based Services
Others
End-use Outlook (Revenue, USD Million; 2021-2028)

Healthcare
Aerospace & Defense
Education
Retail
Automotive
Government
Transportation
Consumer Electronics
Others
Regional Outlook (Revenue, USD Million; 2021-2028)

North America
U.S.
Canada
Mexico
Europe
Germany
U.K.
France
BENELUX
Rest of Europe
Asia Pacific
China
Japan
South Korea
India
Rest of APAC
Latin America
Brazil
Rest of LATAM
Middle East & Africa
Saudi Arabia
UAE
Rest of MEA

Browse Full Report Description + Research Methodology + Table of Content + Infographics @ https://www.emergenresearch.com/industry-report/lifi-market

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Emergen Research is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target, and analyse consumer behavior shifts across demographics, across industries, and help clients make smarter business decisions. We offer market intelligence studies ensuring relevant and fact-based research across multiple industries, including Healthcare, Touch Points, Chemicals, Types, and Energy. We consistently update our research offerings to ensure our clients are aware of the latest trends existent in the market. Emergen Research has a strong base of experienced analysts from varied areas of expertise. Our industry experience and ability to develop a concrete solution to any research problems provides our clients with the ability to secure an edge over their respective competitors.

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