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Light Fidelity [LiFi] Technology Market size was valued at USD 434.2 Million in 2023 and is expected to reach USD 18255.9 Million by 2032 and grow at a CAGR of 51.5% over the forecast period 2024-2032.
The light communication technology is known as Light Fidelity (Li-Fi). It can carry data at high speeds throughout the infrared, ultraviolet, and visible light spectrums. It is a type of wireless technology that uses light to establish position and transfer data to other devices. It transmits data at a faster rate than Wi-Fi technology by using LED lamps as a source. It is widely used in the security business, electronics, aerospace, and defense industries. Furthermore, Li-Fi technology is employed in current medical tools, and it may be used in chemical or petroleum factories where other frequencies could be harmful. It has the potential to be employed in location-based services (GPS) Li-Fi may be utilized for underwater communication as well as data transfer in airplanes.
Recently, Li-Fi technology aided the healthcare sector during the Covid-19 outbreak. Through the usage of LED lights, Li-Fi technology was employed to send data such as temperature and ventilator readings. Because of this technique, physicians' recurrent visits and virus exposure were reduced. This technology was utilized by Ahmedabad civil hospital in India and was supplied by the business Nav wireless technology Pvt Ltd. Furthermore, the adoption of Li-Fi technology in the aerospace and defense sectors has lately expanded due to safer and more secure data transfer. Underwater data transport in submarines has seen significant growth in the utilization of Li-Fi technology.
KEY DRIVERS:
LED Lighting System Adoption is Growing
Rising Interest in Wireless Optical Networks and RF-Based Networks
Demand for Fast, Secure, and Reliable Networks is Growing
The Number of Internet Users Is Growing
RESTRAINTS:
The Li-Fi signal cannot pass through walls.
Inadequate Understanding of Technology's Benefits.
OPPORTUNITY:
LED Lighting for Commercial, Industrial, And Residential Applications
The Use of Li-Fi in Medical Applications.
The COVID-19 epidemic has had a massive influence on people's lives all around the world. Every firm must fight on two fronts—health and economic—and must weather this period of forced recession. With the global economic crisis costing trillions of dollars, there is widespread concern that the recovery phase may last far into early next year. COVID 19 has had an impact on various industry verticals as well as overall output rates in several industries. However, variables such as work-from-home trends had little effect on demand for Li-Fi. As the internet was used for pleasure, employment, delivery, and a variety of other purposes, there was an increase in demand for internet access. Due to rising energy consumption, governments have been focusing on energy-efficient choices in recent years. These reasons have boosted demand for the Li-Fi market.
MARKET ESTIMATION:
Indoor Networking, LBS, Underwater Communication, Standalone Trackers, and Others are the application segments of the market. Indoor networking has a bigger market share due to technological advancements, and the usage of Li-Fi technology is increasing. Many homes integrate Li-Fi technology to improve the user experience, such as smart auto parking, shopping help, and condition monitoring. Data is sent to linked smartphone devices in visible light at lightning speed via Li-Fi. Furthermore, location-based services and Li-Fi-based underwater communication technologies are employed for military objectives and will increase market share in the future.
The market is divided into four components: optical sensing, LED, photo detectors, microcontrollers, and others. LED has a bigger market share due to its rising application and benefits in a variety of industries. The market LED sub-segment is predicted to have a greater market share in the forecasted time due to several benefits such as reduced power consumption, decreased carbon emissions, and increased illumination. Furthermore, because LED is more preferred over other components for indoor networking, LED has the greater Li-Fi market share and is likely to remain so in the forecasted time as well.
On The Basis of Application
Indoor Networking
LBS (Location-based Services)
Underwater Communication
Standalone Trackers
Others
On The Basis of Component
Optical Sensing
LED
Photo Detectors
Microcontrollers
Others
On The Basis of Industry Vertical
Retail
Electronics
Defense & Security
Automotive & Transport
Aerospace & Aviation
Healthcare
Others
REGIONAL ANALYSIS:
North America is currently predicted to have the greatest market share in terms of the Market. The region's well-established infrastructure and rising technology are projected to give attractive chances for the expansion of the Li-Fi market. The US military, on the other hand, is likely to have a stronger demand for Li-Fi due to increased activities in the navy sector. The Asia-Pacific area has a rising customer base for smartphones and electronic devices, which has increased in recent years. Furthermore, the prospective benefits of Li-Fi technology, such as improved connection and increased demand for navy and other applications, are propelling the Li-Fi Industry forward.
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REGIONAL COVERAGE:
North America
USA
Canada
Mexico
Europe
Germany
UK
France
Italy
Spain
The Netherlands
Rest of Europe
Asia-Pacific
Japan
south Korea
China
India
Australia
Rest of Asia-Pacific
The Middle East & Africa
Israel
UAE
South Africa
Rest of Middle East & Africa
Latin America
Brazil
Argentina
Rest of Latin America
The major key players are General Electric, Oledcomm S.A.S., Renesas Electronics Corporation, PureLiFi ltd., Lvx System, Acuity Brands, Qualcomm Technologies, Inc., IBSENtelecom ltd., Koninklijke Philips NV, Panasonic Corporation and Other Players
| Report Attributes | Details |
| Market Size in 2023 | US$ 434.2 Mn |
| Market Size by 2032 | US$ 18255.69 Mn |
| CAGR | CAGR of 51.5% From 2024 to 2032 |
| Base Year | 2023 |
| Forecast Period | 2024-2032 |
| Historical Data | 2020-2022 |
| Report Scope & Coverage | Market Size, Segments Analysis, Competitive Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook |
| Key Segments | • By Application (Indoor Networking, LBS (Location-based Services), Underwater Communication, Standalone Trackers, Others) • By Component (Optical Sensing, LED, Photo Detectors, Microcontrollers, Others) • By Industry Vertical (Retail, Electronics, Defense & Security, Automotive & Transport, Aerospace & Aviation, Healthcare, Others) |
| Regional Analysis/Coverage | North America (USA, Canada, Mexico), Europe (Germany, UK, France, Italy, Spain, Netherlands, Rest of Europe), Asia-Pacific (Japan, South Korea, China, India, Australia, Rest of Asia-Pacific), The Middle East & Africa (Israel, UAE, South Africa, Rest of Middle East & Africa), Latin America (Brazil, Argentina, Rest of Latin America) |
| Company Profiles | General Electric, Oledcomm S.A.S., Renesas Electronics Corporation, PureLiFi ltd., Lvx System, Acuity Brands, Qualcomm Technologies, Inc., IBSENtelecom ltd., Koninklijke Philips NV, Panasonic Corporation |
| Key Drivers | • LED Lighting System Adoption is Growing • Rising Interest in Wireless Optical Networks and RF-Based Networks |
| Market Challenges | • LED Lighting for Commercial, Industrial, And Residential Applications • The Use of Li-Fi in Medical Applications |
Ans: - The Light Fidelity (LiFi) Technology Market size was valued at USD 434.2 Million in 2023.
Ans: -The Light Fidelity (LiFi) Technology Market is to grow at a CAGR of 51.5 % over the forecast period 2024-2031.
Ans: - North America is currently predicted to have the greatest market share in terms of the Market.
Ans: - The primary growth tactics of Light Fidelity (LiFi) Technology market participants include merger and acquisition, business expansion, and product launch.
Ans: - Key Stakeholders Considered in the study are Raw material vendors, Regulatory authorities, including government agencies and NGOs, Commercial research, and development (R&D) institutions, Importers and exporters, etc.
Table of Contents
1. Introduction
1.1 Market Definition
1.2 Scope
1.3 Research Assumptions
2. Research Methodology
3. Market Dynamics
3.1 Drivers
3.2 Restraints
3.3 Opportunities
3.4 Challenges
4. Impact Analysis
4.1 COVID-19 Impact Analysis
4.2 Impact of Ukraine- Russia war
4.3 Impact of ongoing Recession
4.3.1 Introduction
4.3.2 Impact on major economies
4.3.2.1 US
4.3.2.2 Canada
4.3.2.3 Germany
4.3.2.4 France
4.3.2.5 United Kingdom
4.3.2.6 China
4.3.2.7 Japan
4.3.2.8 South Korea
4.3.2.9 Rest of the World
5. Value Chain Analysis
6. Porter’s 5 forces model
7. PEST Analysis
8. Light Fidelity (LiFi) Technology Market Segmentation, by Application
8.1 Indoor Networking
8.2 LBS (Location-based Services)
8.3 Underwater Communication
8.4 Standalone Trackers
8.5 Others
9. Light Fidelity (LiFi) Technology Market Segmentation, by Component
9.1 Optical Sensing
9.2 LED
9.3 Photo Detectors
9.4 Microcontrollers
9.5 Others
10. Light Fidelity (LiFi) Technology Market Segmentation, by Industry Vertical
10.1 Retail
10.2 Electronics
10.3 Defense & Security
10.4 Automotive & Transport
10.5 Aerospace & Aviation
10.6 Healthcare
10.7 Others
11. Regional Analysis
11.1 Introduction
11.2 North America
11.2.1 USA
11.2.2 Canada
11.2.3 Mexico
11.3 Europe
11.3.1 Germany
11.3.2 UK
11.3.3 France
11.3.4 Italy
11.3.5 Spain
11.3.6 The Netherlands
11.3.7 Rest of Europe
11.4 Asia-Pacific
11.4.1 Japan
11.4.2 South Korea
11.4.3 China
11.4.4 India
11.4.5 Australia
11.4.6 Rest of Asia-Pacific
11.5 The Middle East & Africa
11.5.1 Israel
11.5.2 UAE
11.5.3 South Africa
11.5.4 Rest
11.6 Latin America
11.6.1 Brazil
11.6.2 Argentina
11.6.3 Rest of Latin America
12. Company Profiles
12.1 General Electric
12.1.1 Financial
12.1.2 Products/ Services Offered
12.1.3 SWOT Analysis
12.1.4 The SNS view
12.2 Oledcomm S.A.S.
12.3 Renesas Electronics Corporation
12.4 PureLiFi ltd.
12.5 Lvx System
12.6 Acuity Brands
12.7 Qualcomm Technologies, Inc.
12.8 IBSENtelecom ltd.
12.9 Koninklijke Philips NV
12.10 Panasonic Corporation
13. Competitive Landscape
13.1 Competitive Benchmarking
13.2 Market Share Analysis
13.3 Recent Developments
14. Conclusion
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