Current Trends and Future Growth of Li-Fi Market | Key Players: Brands, Panasonic Corporation, PureLiFi Limited, Koninklijke Philips, General Electric and Oledcomm

Market Highlights:

Novel technologies are breaking new barriers in recent times, Li- Fi, is just of the many leading the charge in this issue. Market Research Future which focuses on market reports connected to Semiconductors & Electronics sector amongst others recently made available a report on this sector. The global Li-Fi industry is anticipated to develop with revenue worth USD 51 Billion by the year 2023 while evolving at 70% of CAGR in the forecast period.

Since Li- Fi is an emerging technology its demand is just only picking up in the recent years. The application scope and the potential of the technology is expected to increase the spread of the technology in various sectors and gadgets. As markets and business functions these days demand more speed and agility in terms of the transaction speeds, Li- Fi, has emerged as an appropriate solution. Increased levels of usage of various devices for different uses have also fuelled the growth of the market to a great extent. Need for energy efficient solutions and alternatives are also one of the factor that is favorably driving the growth of the industry in the forecast period.

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Industry Updates:

Feb 2018 PureLiFi, which is a Li-Fi pioneer and has been dedicatedly focused on bringing internet access by lights, and it has just established the technology at a recent event. Its possible applications include integration into a laptop and a phone case for the very first time. Li-Fi technology has previously never been built into a gadget. PureLiFi has used the devices to make the world’s first Skype call by means of a Samsung phone using a LiFi sleeve, and also showcased a Dell laptop with a Li-Fi dongle. The company had launched its LiFi-XC product in October 2017 last year, but they have been incorporated into gadgets just now. Technologies based on Li-Fi are presently being advanced by numerous companies in Mexico, Russia and around the world.

Global Competitive Analysis
The commodities that are being sold currently vary greatly owing to the reason of the strong pace of technological discoveries. This has elevated the opportunities for the imminent growth period. The companies in this industry space are connecting their resources to attain their vision for achieving considerable portion of the business as early as possible. This consequence is productive for firms so that they may sustain fiscal liquidity to take the best decisions in terms of strategy execution and planning. The profitable scenarios available in this market are being applied by contenders who are trying to expand their market coverage by centered development which will prove to be ideal for the growth of this business sector.

The global Li-Fi market is expected to grow at approx. USD 51 Billion by 2023, at 70% of CAGR between 2017 and 2023.

Industry Segments
The Li-Fi market can be divided on the basis of following categories such as:
By Component: Photo Detector, Optical Sensing, LED, Microcontroller and Others
By Application: Standalone Tracker, Smartphone, Advance Tracker and Others
By End User: Healthcare, Education, Government, Automotive, Transportation, Consumer Electronics, Retail and Others

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Detailed Regional Analysis
The Li-Fi market which contains of regions such as Asia Pacific, North America, Europe and Rest of the World are being observed for the regional analysis of this industry. It has been observed that the industry in North America is projected to be responsible for the main share of the market, while Asia-Pacific is anticipated to nurture at a rapid rate during the forecast period. The main development in the Li-Fi market in the North American region is credited to the growing need for energy efficient devices and growing demand for high speed data communication in the area.

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This release was published on openPR.