IoT Enabled Li-Fi Technology Market - Industry Analysis, Growth and New Market Opportunities Explored

Li-Fi (Light Fidelity) is a technology which utilizes light communication in place of radio waves in Wi-Fi technology. The idea behind developing such light based technology is that light travels faster than radio waves and thus allows transferring data up to 250 times faster than high speed broadband. This technology uses LED light bulbs to furnish illumination and communication at low cost.Internet of Things (IoT) is a structured combination of complementing computing devices, mechanical devices with unique attributes, and the capability to transfer data beyond the requirement of human-machine interaction.

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IoT technology utilizes many computing devices to communicate and transfer data with embedded technology. Some of the examples falling under the scope of IoT include connected security systems, connected cars, and modern interactive kiosks amongst others. Presently, the market for IoT enabled residential and commercial needs satisfying interactive network is growing at a faster pace across the globe. Taking this growth factor into consideration, scientists and technology adopters are looking forward to integrate IoT with Li-Fi technology for improved real time interaction and data management over a virtual space.

IoT enabled Li-Fi is expected to furnish superlative wireless capacity by utilizing the LED lighting system. This improved wireless capacity can satisfy internet users’ demand for extra wireless data. Moreover, Li-Fi technology can be hosted in extreme conditions of humidity, wind speed, temperature, etc. This is enabling the light industry to come up with more advanced technology in communication systems. In the near future, Li-Fi is anticipated to explore real devices with substantial applications and widespread adoptions. For instance suppliers in the ecosystem would be able to deploy Li-Fi at public areas such as tourist information kiosks, street lights, train stations, and bus shelters, where Li-Fi could get the adequate light to facilitate data transmission.

There has been a considerable increase in demand for speedy communication and data transmission. Moreover, increasing adoption of IoT technology in comprehensive industry applications is growing day by day. These factors are expected to drive the IoT enabled Li-Fi technology market with a positive impact. On the other hand, Li-Fi technology is expected to project low usage as light medium is obstructed when it passes through solid medium. This factor is a major area of concern for the growth of the IoT enabled Li-Fi technology market. However, innovation and development in technology is likely to do away with all the concerns. The IoT enabled Li-Fi technology market is expected to project opportunities by bringing broader accessibility through its cloud deployment. Also, it is expected to be adopted in applications where data security is a prime concern, for instance, hospital records, police records, bank statements and so on.

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The IoT enabled Li-Fi technology market can be applied to areas such as Indoor networking, in-flight communication & entertainment, location based services, and underwater communications. The market is expected to bring important trends by securing wireless data and increasing adoption of sensor components through IoT technology. The IoT enabled Li-Fi technology market is anticipated to create a new market for suppliers across the value chain in the IoT ecosystem.

Industry verticals which can adopt IoT enabled Li-Fi technology are retail, consumer electronics, automotive & transportation, healthcare, defense & security, and others. Presently, key vendors providing Li-Fi technology are General Electric (U.S.), LVX System (U.S.), Oledcomm (France), Philips (Netherlands), pureLiFi (U.K.), Avago Technologies (U.S.), Axrtek, ByteLight, Inc. (U.S.), Casio (Japan), IBSENtelecom (Norway), Lightbee, LightPointe Communications (U.S.), Outstanding Technology, and Panasonic (Japan).

To conclude, these companies are expected to explore the IoT enabled Li-Fi technology market to cater to diverse applications as lighting based technology is expected to bring more service based technology. As IoT is gaining popularity among various applications, it is expected that data transmission would be facilitated by increasing demand for IoT enabled Li-Fi technology.

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