Li-Fi Market – Global Industry Analysis Report, Share, Size, Growth, Price Trends and Forecast, 2016 – 2023: Fractovia.Org

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Li-Fi Market Global Industry Analysis Report,
Share, Size, Growth, Price Trends and Forecast,
2016 2023 Fractovia.org
Fuel Cell Market size worth 25.5bn by 2024
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Key Insights from Li-Fi Market

• Li-Fi technology is conquering the information
  communication world due to rising demand for
  better communication services in terms of
  bandwidth, efficiency, affordability and
  security. Li-Fi works by using the visible light
  emitted from the LEDs (Light Emitting Diodes) to
  transmit high speed data with lower interference
  and larger bandwidth.
• A potential spectrum crisis has been put forward
  as a matter of concern by the US Federal
  Communications Commission. The reason for this
  was high data demand, which has made the Wi-Fi
  close to full capacity. Moreover, the Wi-Fi
  communication channel is more prone to hacking
  and works on radio waves which has been pointed
  out as a health and environmental concern. This
  has led to the focus been shifted towards a
  better communication channel known as Li-Fi.
• In the coming years, there shall be a noticeable
  growth in the Li-Fi market size owing to factors
  like no bandwidth limitations, RF spectrum
  bandwidth crunch, and lesser energy consumption.
  This will dominate the usage of older
  communication technologies such as Bluetooth,
  Wi-Fi, and WiMax. However, lack of awareness,
  high installation cost, and limited network
  coverage may hamper the industry growth.

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Continued...

• Li-Fi market can be segmented on the basis of its
  applications which include Indoor Networking,
  Aerospace, Healthcare, Automotive, Underwater
  Communication, Location Based Services,
  Intrinsically Safe Environment, and Defense
  Security.
• Li-Fi industry share in the intrinsically safe
  environment segment will grow at a CAGR over 88
  during 2016-2023 primarily due to the health and
  environmental concerns which may be hampered by
  the Wi-Fi usage. Healthcare application segment
  is estimated to exceed USD 2.6 Billion by 2023.
  Factors like absence of radio waves which makes
  this technology environment and health friendly
  coupled with high speed data transmission
  enabling patients data to be shared across
  different departments at a very high speed will
  drive the segment growth. Additionally, location
  based services segment, which contributed towards
  40 of the global revenue in 2015 is expected to
  register a CAGR of 79.5 over the period of
  2016-2023.

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Continued...

• Li-Fi components comprises of LED,
  Microcontroller, and Photodetector. LED market is
  expected to cross USD 33 Billion by 2023 at a
  growth rate of 79 over the period of 2016-23
  driven by increasing regulations pertaining to
  energy efficiency. Photodetector segment, which
  comprised of 30 of the overall market share in
  2015 will also see significant growth in the
  coming years.
• High demand for wireless communications will
  enhance the growth of this technology across the
  globe. Asia Pacific Li-Fi market, which had a
  revenue of approx. USD 185 million in 2015, is
  forecast to be the leading region over the coming
  years, according to Global Market Insights Inc..
  This is on account of high internet connectivity
  demand along with poor radio communication
  infrastructure in rural regions of countries like
  India.
• The US Li-Fi market share is expected to grow at
  a CAGR of 78 over 2016-2023, having been valued
  at approx. USD 190 million in 2015. In the Middle
  East, UAE based technology company Zero.1 in
  partnership with telecommunication service
  provider du will soon launch Li-Fi service in
  Dubai.

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

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Continued...

• Key Industry participants in the Li-Fi market are
  PureLifi, Philips, GE, LVX, Oledcomm, etc. The
  technology demands an advanced product portfolio
  which is encouraging strategic alliances and
  mergers acquisitions amongst the corporate
  firms. The applications of this technology shall
  pave a way for the players to gain profitability
  by redesigning and expanding their product
  landscape. Some major opportunities in the Li-Fi
  industry shall be witnessed in the coming years
  in the areas like smart LED lighting for
  commercial buildings and private homes, smart
  lightening of public areas like stations
  airports, smart stores, traffic updates from
  traffic lights and route management in railways
  etc.

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