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Surging Li-Fi/Visible Light Communication Market: $1215.15 Billion by 2025, 116.7% CAGR, Cybersecurity Driving Growth and Key Trends to Watch
Li-Fi/Visible Light Communication Market
What Is The Projected Market Size Of The Global Light Fidelity (Li-Fi)/Visible Light Communication Market And Its Growth Rate?
The global Li-Fi/Visible Light Communication market projects heartening growth:
- The market size rose to $560.87 billion in 2024.
- It's expected to achieve $1215.15 billion in 2025, marking 116.7% CAGR.
- Future forecasts anticipate the market to attain $28829.77 billion by 2029 with a hearty compound annual growth rate (CAGR) of 120.7%.
What Is Driving The Growth In The Light Fidelity (Li-Fi)/Visible Light Communication Market?
Driving the growth in the Li-Fi/Visible Light Communication market are the increasing concerns over cybersecurity. Li-Fi's characteristic of using visible light for data transmission positions it as a significantly secure option compared to its predecessors, with security being ingrained in the channel itself. With the rise in cybercrime, as evidenced by a reported 23% increase in Australia during 2022-2023, this concern over cybersecurity is fueling the market growth.
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Who Are the Key Players Driving Light Fidelity (Li-Fi)/Visible Light Communication Market Growth?
The Li-Fi/Visible Light Communication market is influenced by several key players, including
- General Electric Company
- Oledcomm SA
- Renesas Electronics Corporation
- PureLiFi Ltd.
- Lvx System GmbH
- Acuity Brands Lighting Inc.
- IBSENtelecom Ltd.
- Koninklijke Philips N.V.
What Are The Key Trends In The Light Fidelity (Li-Fi)/Visible Light Communication Market?
Key trends within the market include:
- Integration with 5G networks
- Incorporation in healthcare
- Utilization in retail and indoor navigation
- Utilization for secure communication
- Role in automotive connectivity
- Contribution to sustainable connectivity
What Are The Segments Of The Global Light Fidelity (Li-Fi)/Visible Light Communication Market?
The global Li-Fi/Visible Light Communication market can be segmented as follows:
- Component: LED, Photodetectors, Microcontrollers (MCU)
- Transmission Type: Unidirectional, Bidirectional
- Application: Indoor Networking, LBS (Location Based Services), In-Flight Communication And Entertainment, Underwater Communication, Other Applications
- Industry Vertical: Retail, Electronics, Defense And Security, Automotive And Transport, Aerospace And Aviation, Healthcare, Other Industry Verticals
Which Region Leads The Light Fidelity (Li-Fi)/Visible Light Communication Market?
North America led the Li-Fi/Visible Light Communication market in 2024. However, the forecast places Asia-Pacific as the fastest-growing region. The report covers regions such as Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
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What Is Covered In The Light Fidelity (Li-Fi)/Visible Light Communication Market Global Market Report?
Market Size Analysis: Analyze the Light Fidelity (Li-Fi)/Visible Light Communication Market size by key regions, countries, product types, and applications.
Market Segmentation Analysis: Identify various subsegments within the Light Fidelity (Li-Fi)/Visible Light Communication Market for effective categorization.
Key Player Focus: Focus on key players to define their market value, share, and competitive landscape.
Growth Trends Analysis: Examine individual growth trends and prospects in the Market.
Market Contribution: Evaluate contributions of different segments to the overall Light Fidelity (Li-Fi)/Visible Light Communication Market growth.
Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.
Industry Challenges: Analyze challenges and risks affecting the Light Fidelity (Li-Fi)/Visible Light Communication Market.
Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market.
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