Worldwide, Li-Fi is a disruptive technology that is poised to revolutionize many industries. The technology can encourage Industry 4.0 applications, unlock the potential of IoT and lead to the future light-as-a-service (LaaS) in the lighting industry. The advent of machine type communication (MTC) and IoT corresponds to a demand of 12,000 times the current bandwidth regarding the same spectrum efficiency. The development of this technology is one of the crucial factors in the development of the global economy.
There were 4.66 Billion active internet users worldwide, 59.5 percent of the global population. Of this total, 92.6 per cent (4.32 Billion) accessed the internet via a mobile device; Smartphone has now become the most significant channel for internet access worldwide. Increasing penetration of smartphones and high demand for mapping portals is anticipated to stimulate the market in Li-Fi technology. As per our research findings, Worldwide Li-Fi Technology Market will grow with a CAGR of 68% during 2020-2027.
Globally, there is a rising deployment of LED lamps in the public and private industries. LED lamp are low power consumption, high durability, and high energy output are proliferating their demand in the Li-Fi lamp systems. As Li-Fi combines high-speed wireless data transmission and indoor lighting infrastructure, it is highly cost-effective to be broadly utilized in smart buildings. The requirement for highly secure and high-speed data communication is rising in various industries, such as healthcare, education sectors, retail, Aviation, Exhibition and others. It builds a strong demand for Li-Fi technology for efficient industrial operations.
By Region - Li-Fi Industry
North America endures the largest market share for the global light fidelity (Li-Fi) market. As the region has a well-established infrastructure, the implementation of advanced technology is accessible. It provides better connectivity, and there is a vast demand for Li-Fi technologies in US Navy. In addition, the increasing internet usage through smartphones and other electronic gadgets is fueling the Asia Pacific Li-Fi market demand. The rapid rise in the population of countries, including China, India, Malaysia and Japan, coupled with constantly declining prices of smartphones and other IoT devices, is creating a massive demand for internet connectivity or high data transfer speeds in the Asia Pacific region. For the year 2020, Global Li-Fi Mark Size was valued at US$ 399.6 Million.
The major players in the Li-Fi market are Verizon Communication Inc, Philips, General Electric, Signify Holding BV, Wipro LLC, and Getac Technology. These key players are adopting strategies to the lucrative path towards expanding their market share. In 2020, The Getac device to offer integrated Li-Fi the UX10 fully rugged tablet. Defence, Public Safety, energy, and manufacturing sectors have benefited from Getac's Li-Fi Solutions.
This latest Report “Global Li-Fi Market by Application (Smartphone, Standalone, Advance Tracker) by Type (Li-Fi Lamp, LifiDongal, Access Point, LiFi Kit) by Vertical (Healthcare, Education, Retails, Aviation, Exhibition, Others) by Component(Led, Photodetectors, MCU) by Region (North America, Europe, MiddleEast, Asia, Latin America) by Company Analysis (Verizon Communication Inc, Philips, General Electric, Signify Holding BV, Wipro LLC, Getac Technology)" studies the Global Li-Fi Industry. The report also comprises qualitative factors such as drivers, restraints, and opportunities.
Application - Global LiFi Market has been covered from 3 viewpoints
- Smartphone
- Standalone
- Advance Tracker
Type-Global LiFi Market has been covered from 4 viewpoints
1. LiFi Lamp
2. LifiDongal
3. Access Point
4. LiFi Kit
Vertical - Global LiFi Market has been covered from 6 viewpoints
1. Healthcare
2. Education
3. Retails
4. Aviation
5. Exhibition
6. Others
Component - Global LiFi Market has been covered from 3 viewpoints
1. Led
2. Photodetectors
3. MCU
Region - Global LiFi Market has been covered from 5 viewpoints
1. North America
2. Europe
3. Middle East
4. Asia
5. Latin America
Company Insights:
- Overview
- Company Initiatives
- Sales Analysis
Company Analysis:
1. Verizon Communication Inc
2. Philips
3. General Electric
4. Signify Holding BV
5. Wipro LLC
6. Getac Technology
Table of Contents
Companies Mentioned
- Verizon Communication Inc
- Philips
- General Electric
- Signify Holding BV
- Wipro LLC
- Getac Technology
Methodology
In this report, for analyzing the future trends for the studied market during the forecast period, the publisher has incorporated rigorous statistical and econometric methods, further scrutinized by secondary, primary sources and by in-house experts, supported through their extensive data intelligence repository. The market is studied holistically from both demand and supply-side perspectives. This is carried out to analyze both end-user and producer behavior patterns, in the review period, which affects price, demand and consumption trends. As the study demands to analyze the long-term nature of the market, the identification of factors influencing the market is based on the fundamentality of the study market.
Through secondary and primary researches, which largely include interviews with industry participants, reliable statistics, and regional intelligence, are identified and are transformed to quantitative data through data extraction, and further applied for inferential purposes. The publisher's in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. These analytical tools and models sanitize the data & statistics and enhance the accuracy of their recommendations and advice.
Primary Research
The primary purpose of this phase is to extract qualitative information regarding the market from the key industry leaders. The primary research efforts include reaching out to participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions. The publisher also established professional corporate relations with various companies that allow us greater flexibility for reaching out to industry participants and commentators for interviews and discussions, fulfilling the following functions:
- Validates and improves the data quality and strengthens research proceeds
- Further develop the analyst team’s market understanding and expertise
- Supplies authentic information about market size, share, growth, and forecast
The researcher's primary research interview and discussion panels are typically composed of the most experienced industry members. These participants include, however, are not limited to:
- Chief executives and VPs of leading corporations specific to the industry
- Product and sales managers or country heads; channel partners and top level distributors; banking, investment, and valuation experts
- Key opinion leaders (KOLs)
Secondary Research
The publisher refers to a broad array of industry sources for their secondary research, which typically includes, however, is not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Patent and regulatory databases for understanding of technical & legal developments
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic new articles, webcasts, and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecasts
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Table Information
| Report Attribute | Details |
|---|---|
| Published | June 2021 |
| Forecast Period | 2020 - 2027 |
| Estimated Market Value ( USD | $ 399.6 Million |
| Forecasted Market Value ( USD | $ 15092.5 Million |
| Compound Annual Growth Rate | 68.0% |
| Regions Covered | Global |
| No. of Companies Mentioned | 6 |
