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Li-Fi Market Outlook 2020 – Growth Drivers, Opportunities and Forecast Analysis to 2030

Author : Ronak Bora | Published Date : 2020-09-02 

(Light Fidelity) Li-Fi Market size is expected to exceed USD 8 billion by 2030. The market is expected to project a rapid growth owing to the increasing implementation of Li-Fi systems in the education sector. Rising adoption of Li-Fi in schools and research institutes to provide seamless and secure internet connectivity to students, is driving the market.

The global impact of COVID-19 pandemic has led to a slowdown in the Li-Fi market growth. Governments of several countries in North America, Europe and Asia Pacific have imposed restrictions on movement, causing a halt in business operations. In this scenario, the adoption of new technologies such as Li-Fi is expected to slow down, thereby impacting the market growth. However, the market is expected to witness a steady growth from 2021 onwards, after the impact of the pandemic is reduced.

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Li-Fi market is bifurcated in terms of component, application, and regional landscape. Based on component, the light fidelity market is categorized into microcontroller, photodetector, and LED. Among these, LEDs are expected to witness over 55% growth rate over the forecast timeframe owing to its increasing adoption of due to high power efficiency.

In terms of application, the overall light fidelity market is classified into intrinsically safe environments, defense & security, underwater communication, location-based services, automotive, healthcare, aerospace, and indoor networking. Li-Fi market will witness a high growth with potential applications in underwater communications segment between submarines and naval ships.

From a regional frame of reference, increasing penetration of smart consumer electronics in the Latin America will drive the market growth in the region.

Some major findings in the Li-Fi market report include:

  • Increasing consumption of data and growing RF spectrum crunch is creating a demand for alternative wireless communication technologies such as Li-Fi in the market.
  • Potential implementation of Li-Fi in automotive sector for Vehicle to Vehicle (V2V) AND Vehicle to Road (V2R) communication will augment the demand for this technology over the forecast timeframe.
  • Growing investments in the development of smart city projects in MEA is supporting the adoption of Li-Fi. Integration of Li-Fi in streetlights provides high-speed mobile connectivity to users without the use of radio frequency.
  • Li-Fi technology providers are focusing on strategic collaborations with consumer electronics manufacturers to integrate Li-Fi enabled chipsets and microcontrollers in smartphones, laptops, smart wearables etc.
  • Key players operating in the Li-Fi market include Lucibel, Signify, Oledcomm, Renesas Electronic Corporation, Acuity Brands, VLNComm, SLD Laser and NAV Technologies.
  • Market, players are adopting several strategies such as new product launches and business expansion to tap the unserved market. Emerging players are also focusing on establishing partnerships with market leaders to develop technologically advanced products.

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Leading companies are focusing on new product launches to increase their business growth. For instance, for instance, in July 2018, Oledcomm launched its new GEOLiFi LED Tube. This device is equipped with Oledcomm’s GEOLiFi technology capable of transforming the LED lighting network into a fast & reliable indoor positioning system.

Table of Contents (ToC) of the report:

Chapter 6.   Li-Fi Market, By Application

6.1.  Key trends by application

6.2.  Automotive

6.2.1. Market estimates and forecast, 2016 – 2030

6.3.  Indoor Networking

6.3.1. Market estimates and forecast, 2016 – 2030

6.4.  Aerospace

6.4.1. Market estimates and forecast, 2016 – 2030

6.5.  Healthcare

6.5.1. Market estimates and forecast, 2016 – 2030

6.6.  Intrinsically safe environment

6.6.1. Market estimates and forecast, 2016 – 2030

6.7.  Location based services

6.7.1. Market estimates and forecast, 2016 – 2030

6.8.  Defense & security

6.8.1. Market estimates and forecast, 2016 – 2030

6.9.  Underwater communication

6.9.1. Market estimates and forecast, 2016 – 2030

Browse complete Table of Contents (ToC) of this research report @ https://www.gminsights.com/toc/detail/lifi-market

About Author

Ronak Bora

Ronak Bora

A graduate in Electronics Engineering, Ronak writes for fractovia 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. [email protected] | https://twitter.com/RonakBora26

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