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North America Li-Fi Market Estimated to Exceed USD 2.5 Billion Globally By 2030

Author : Ronak Bora | Published Date : 2021-09-07 

In light of the growing prominence of the technology, North America Li-Fi market is expected to witness commendable growth by recording a valuation of USD 2.5 billion by 2030. Growing proclivity towards secure wireless networks in the commercial sector due to increasing number of cybercrimes has impelled the application of technology in North America Li-Fi market to a great extent. Sensitive industry verticals like banking and finance are highly vulnerable to cyber threats, which instigates the demand for secure data transmission. In this regard, Li-Fi serves as a key element in providing high security from hackers owing to its inability to penetrate opaque surfaces.

Rising application of connected devices across offices and business establishments is playing a vital role in enhancing the business scenario by opening new opportunities for North America Li-Fi market deployment. The technology help users in surfing internet at improved speeds on account of its ability to transfer high volumes of data without any interference from existing radio frequencies.

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An overview of some of the pivotal trends that are stimulating the industry outlook is as under:

Growing adoption across the healthcare sector

Ability of Li-Fi systems to function without radio frequencies is impelling the product adoption across hospitals and healthcare settings in North America Li-Fi market. Electromagnetic radiations emitted from the radio frequencies put patient health at risk. In this regard, Li-Fi based devices are gaining massive traction as the visible light spectrum used by these devices eliminate these health risks and provides safe and secure high-speed internet connectivity to doctors and patients. In addition, Li-Fi is widely used by pharmacists for real-time tracking of medical equipment in hospitals. 

Heightened demand for in-flight connectivity in aviation sector

Li-Fi communication systems are now increasingly being adopted in the aviation and aerospace vertical on account of rising demand for in-flight connectivity. These systems can potentially transform the in-flight entertainment systems and revolutionize the cabin and fuselage design. Moreover, Li-Fi facilitates safer communication as it does not interfere with the wireless networks used by pilots for ground communication and navigation purposes which is further driving the technology adoption in this North America Li-Fi market.

Increasing adoption in automotive industry

Growing adoption of connected cars in North America due to increasing disposable income and preference for technologically advanced cars is fueling the demand for Li-Fi technology in the region. This can be ascribed to the ability of Li-Fi to support communication between vehicles using headlights.

Rising demand for microcontroller manufacturing

Li-Fi is being extensively used for the manufacturing of microcontrollers with the growing trend of miniaturization of electronic components. Introduction of integrated circuits and small microcontroller chips are facilitating large-scale deployment of Li-Fi- devices. Strong presence of electronic component manufacturers and decreasing cost of these components is expected to increase the product penetration in the following years.

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Strategic initiatives by market players

Various major players operating in North America Li-Fi markets include Integrated System Technologies Ltd., Oledcomm, NAV Technologies, VLNComm, General Electric and PureLiFi. These companies are implementing different strategies like collaborations and partnerships to ameliorate their technological competencies. For instance, in 2019, PureLiFi announced partnership with Zumtobel, a European professional lighting solutions provider to develop advanced Li-Fi-enabled lighting systems. Such initiatives are in turn opening new growth opportunities for the industry.

Table of Contents (ToC) of the report:

Chapter 1   Methodology and Scope

1.1    Research methodology

1.2    List of data sources

1.2.1    Secondary

1.2.2    Primary

Chapter 2   Market Snapshot

2.1    North America Li-Fi market snapshot

Chapter 3   North America Li-Fi Trends

3.1    Industry coverage

3.2    Industry size, 2016 – 2026

3.3    Impact of COVID-19 pandemic

3.4    Value chain analysis

3.4.1    Company product snapshot

3.5    Innovation landscape

3.6    Regulatory norms & directives

3.7    Drivers & restraints

3.7.1    Market drivers

3.7.2    Market restraints

3.8    Industry analysis - Porter's

3.9    Competitive benchmarking, 2019

3.9.1    Strategy dashboard

3.10    PEST analysis

Browse complete Table of Contents (ToC) of this research report @ https://www.graphicalresearch.com/table-of-content/1708/north-america-li-fi-market

About Graphical Research:

Graphical Research is a business research firm that provides industry insights, market forecast and strategic inputs through granular research reports and advisory services. We publish targeted research reports with an aim to address varied customer needs, from market penetration and entry strategies to portfolio management and strategic outlook. We understand that business requirements are unique: our syndicate reports are designed to ensure relevance for industry participants across the value chain. We also provide custom reports that are tailored to the exact needs of the customer, with dedicated analyst support across the purchase lifecycle.

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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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