Li-Fi Market size likely to grow at 80.8 CAGR from 2015 to 2023

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Li-Fi Market size forecast worth 75.5 billion by
2023, to grow at 80.8 CAGR from 2016 to 2023
Global Market Insights Inc.
Fuel Cell Market size worth 25.5bn by 2024
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Key Insights from Li-Fi Market

• LED components will continue remaining the
  largest industry segment, with revenue forecast
  to surpass USD 33 billion by 2023. These products
  can be used off-the-shelf since they combine
  illumination with the ability to modulate
  brightness, which can be received and used as
  data.
• Intrinsically safe environments that cannot
  tolerate the usage of Wi-Fi technology will be a
  high growing application area. Li-Fi market share
  in this space will grow at over 88 CAGR
  estimations from 2016 to 2023.
• Asia Pacific is forecast to emerge as the leading
  region in the coming years. The industry expects
  high growth in the region on account of internet
  connectivity demand coupled with poor radio
  communications infrastructure in rural areas of
  countries like India.

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Continued

• U.S. Li-Fi market share will grow with over 77
  CAGR expectations over the forecast timeframe.
• The industry is RD intensive and innovation led,
  with commercialization expected to result in
  proliferation across application areas and
  attract large manufacturers.
• Major companies contributing to Li-Fi market size
  include PureLifi, GE, LVX, Philips, etc. Growing
  number of players in the future is estimated to
  lead to industry fragmentation. Manufacturers
  focus on partnerships and collaborations for
  Li-Fi market expansion. Since LED infrastructure
  is robust on a global level, technological
  differentiation, innovation, and applicability
  across a wide number of use cases is tantamount
  to success.

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U.S. Li-Fi market size, by component, 2013-2023
(USD Million)

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360 Analysis

• Application Analysis
• Location based services accounted for over 40 of
  the global revenue in 2015, and is forecast to
  grow at 79.5 CAGR from 2016 to 2023. The
  technology is anticipated to enhance users
  shopping experience by providing precise location
  information services. In addition, it also allows
  pop-ups regarding the recent product offers going
  on in the store.
• Regional Analysis
• Asia Pacific Li-Fi market size was valued at over
  USD 185 million in 2015. The regional growth will
  be fueled by need for internet connectivity in
  underdeveloped countries. UAE Company Zero 1 has
  outlined plans to roll out Li-Fi service in
  Silicon Oasis in conjunction with their project
  partner du. U.S. Li-Fi market share is projected
  to grow at 78.0 CAGR from 2016 to 2023 it was
  valued at around USD 190 million in 2015.
• Competitive Market Share
• Major industry participants include PureLifi, GE,
  Philips, Oledcomm, LVX, etc. These players are
  focusing on merger, acquisitions, and strategic
  collaborations to enhance their product
  portfolio. For instance, GE collaborated with
  Qualcomm to merge lighting and big data to
  transform retail experience in 2015. In the same
  year, LVX teamed up with NASA in order to
  introduce these products for space missions and
  to develop new application for VLC.

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