Light fidelity (Li-Fi) market is expected to record significant gains over the forthcoming timeframe owing to the rising demand for high speed data transmission. Li-Fi is a new type of wireless connection that transmits data using light sources rather than microwaves. It is known to be a game changing innovation transmitting vast amounts of data through LEDs.
Light fidelity works by using LED bulbs, flickering on & off at a high rate which cannot be seen from human eye, as a medium to realize high speed communication. The key components of a Li-Fi system are a white high brightness LED acting as a transmission source and a silicon photodiode having a good response to the visible light as the receiving component.
The benefit of Li-Fi technology is efficiency, which means the consumption of energy can be reduced with the usage of LED illumination which is generally available in the mall, offices, and home for lighting purpose. Thus, this technology is quite efficient in terms of energy and costs.
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The technology is also cheaper, it not only requires few components for its functioning but also utilizes a negligible amount of additional energy for the transmission of data. In addition, one of the key advantages of this technology is of security, this means that the Li-Fi internet would only be available to the users that to in a limited area. This further cannot be misused or intercepted, outside the location under the operation.
Also, it is easily available, meaning where there is a light source, there is the availability of internet. Light bulbs are generally present in places like malls, offices, shops, homes as well as planes, that can be utilized as a means for data transmission. The light fidelity technology will have a great opportunity in future.
Light fidelity market is bifurcated in terms of component, application, and regional landscape.
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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.