+1-888-308-5802     
News Contact Us

Li-Fi Market in LED segment to cross USD 33 billion by 2023, Growing regulatory initiatives for energy efficiency

Author : Ronak Bora | Published Date : 2019-03-13 

Li-Fi Market is mainly divided into LED, Microcontroller, Photodetector. LED or light emitting diode industry share is anticipated to grow at a rate of 79% from 2016 to 2023. Shifting trends toward the energy-efficient product will boost the demand for LED. Photodetector covered 30% of the overall Light-fidelity (Li-Fi) market share in 2015 and will exhibit attractive growth rate in the years ahead . LED technology is utilised due to benefits offered such as minimal maintenance, long life span and high efficiency for data transfer at high speeds. Countries have taken necessary initiatives for the adoption of LED technology to conserve energy. Government supports LED industry by providing OEMs with financial subsidies, incentives and resources for improving manufacturing processes which in turn will drive the Li-Fi market.

Request for a sample of this research report @ https://www.gminsights.com/request-sample/detail/462

Significant LED infrastructure driven by reducing prices, high degree of energy efficiency, and high installation in residential as well as public spaces will prove beneficial to Li-Fi market size in the coming years. Megatrends such as Industry 4.0 and significant growth prospects in the IoT market will present high profitability avenues. Smart homes industry size will be propelled by increased connectivity demand and initiatives undertaken by major participants. This is forecast to drive Li-Fi market size over the forecast timeframe.

Li-Fi Market growth will be fuelled by increasing 3G and 4G technology demand and the impending RF spectrum crunch. Since it uses the visible light spectrum, the technology is expected to complement Wi-Fi in environments where the latter is not suitable. This includes environments such as healthcare, where data security is paramount. Li-Fi Market size is anticipated to reach USD 75.5 billion by 2023; as per a new research report by Global Market Insights, Inc.High security compared to traditional radio communications since light cannot pass through walls will be a compelling driver for technology adoption.

Technology involves visible light instead of radio waves to reduce the negative impact on population. Moreover, it provides various features such as massive bandwidth, availability, energy efficiency and security which offers solution to increased data rates and spectrum crisis which will enhance the Li-Fi market in giving stable internet services. 

Increasing data production and usage will lead the usage of RF based networks and wireless optical network. Flourishing demand from medical centres, educational institutes and hospitals is witnessed. Healthcare sector is estimated to reach over USD 2.5 billion by 2023 owing to reduction of electromagnetic radiations and patient data sharing inter-department at high speed rates. High adoption rate for wireless communication will support the Li-Fi market growth.

 Make an inquiry for buying this report @ https://www.gminsights.com/inquiry-before-buying/462

Geographically, Asia Pacific light fidelity (Li-Fi) industry worth USD 185 million in 2015, is slated to exhibit substantial growth rate over the coming six years. The growth can be attributed to the increasing need for internet connectivity in developing countries. Significant R & D activities across the European region will boost Europe Li-Fi market share in the coming timeframe.

U.S. light fidelity market collected a revenue of about USD 190 million in 2015 and is projected to register a growth rate of 78% over the period of 2016 to 2023. The growing demand for wireless communication across this region will augment the industry growth.

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. 

Browse Full Reports: https://www.gminsights.com/industry-analysis/lifi-market

 About Global Market Insights

Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology. 

Contact Us 

Arun Hegde
Corporate Sales, USA
Global Market Insights, Inc.
Phone: 1-302-846-7766
Toll Free: 1-888-689-0688
Email: [email protected]
Web: www.gminsights.com    
Blog: www.industry-source.org

 

About Author

Ronak Bora

Ronak Bora

A graduate in Electronics Engineering, Ronak writes for Fractovia.org and carries a rich experience in digital marketing, exploring how the online world works from a technical and marketing perspective. His other areas of interest include reading, music, and sport. He can be contacted at- [email protected]tovia.org | https://twitter.com/RonakBora26

Related News

Consumer service segment of Intelligent Virtual Assistant (IVA) Market to grow 37%+ gains to 2024

Published Date: 2019-03-22         Author: Ronak Bora

Speech recognition technology is witnessing high growth in the Intelligent Virtual Assistant (IVA) Market due to the rise in adoption of these techniques in modern industrial solutions. The automobile and smartphone industry are the major application areas of the technology. The future connected car... Read More

North America On-board Diagnostics (OBD) Aftermarket will expand with a significant CAGR of 40% by 2024

Published Date: 2019-03-22         Author: Ronak Bora

North America is estimated to account for the largest share of over 40% in the global On-board Diagnostics (OBD) Aftermarket by 2024. The market growth in this region is attributed to technological advancements in the transportation infrastructure and the high penetration of the smartphones and clou... Read More

Europe Optical Sorter Market will expand with a significant CAGR of 9% by 2024

Published Date: 2019-03-22         Author: Ronak Bora

Europe optical sorter market is expected to gain momentum due to the rapidly generated electronic waste. Electrical and electronic scrap is the highest growing waste type in the region. The recycling of these materials has become vital, as this kind of waste consists of a wide range of materials. AN... Read More

© 2019 Fractovia. All Rights Reserved