Asia Pacific Li-Fi Market 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.
U.S. Li-Fi 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.
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Considering the components, 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 Li-Fi market share in 2015 and will exhibit attractive growth rate in the years ahead.
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 finds widespread applications across location-based services, indoor networking, defense & security, intrinsically safe environments, automotive, underwater communication, aerospace, and healthcare. Location-based services are predicted to grow noticeably at a CAGR of 79.5% over the period of 2016 to 2023. The growth can be attributed to escalating technological innovations and enhancement in the location and indoor positioning system.
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As per the report by Global Market Insights Inc., “Li-Fi market is anticipated to register a CAGR of 80.8% over the period of 2016-2023.” Growing awareness among the people about the hazardous effect of radio waves on human health will favorably drive light fidelity (Li-Fi) industry size significantly.
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.
Table Of Content For This Research Report:
Chapter 5 Li-Fi Application Insights
5.1 Global Li-Fi market share by application, 2015 & 2023
5.2.1 Global demand in automotive, 2013 – 2023, (USD Million)
5.2.2 Global demand in automotive by region, 2013 – 2023, (USD Million)
5.3 Indoor networking
5.3.1 Global demand in indoor networking, 2013 – 2023, (USD Million)
5.3.2 Global demand in indoor networking by region, 2013 – 2023, (USD Million)
5.4.1 Global demand in aerospace, 2013 – 2023, (USD Million)
5.4.2 Global demand in aerospace by region, 2013 – 2023, (USD Million)
5.5.1 Global demand in healthcare, 2013 – 2023, (USD Million)
5.5.2 Global demand in healthcare by region, 2013 – 2023, (USD Million)
5.6 Intrinsically safe environments
5.6.1 Global demand in intrinsically safe environments, 2013 – 2023, (USD Million)
5.6.2 Global demand in intrinsically safe environments by region, 2013 – 2023, (USD Million)
5.7 Location based services (LBS)
5.7.1 Global demand in LBS, 2013 – 2023, (USD Million)
5.7.2 Global demand in LBS by region, 2013 – 2023, (USD Million)
5.8 Defense & Security
5.8.1 Global demand in defense & security, 2013 – 2023, (USD Million)
5.8.2 Global demand in defense & security by region, 2013 – 2023, (USD Million)
5.9 Underwater communications
5.9.1 Global demand in underwater communications, 2013 – 2023, (USD Million)
5.9.2 Global demand in underwater communications by region, 2013 – 2023, (USD Million)
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