Title: Li-Fi Market size likely to grow at 80.8 CAGR from 2015 to 2023
1Li-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
2Key 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.
3Continued
- 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.
4 U.S. Li-Fi market size, by component, 2013-2023
(USD Million)
5 Browse Full Market Research Report On Li-Fi
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6 360 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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