The Global Li-Fi Market size is expected to register more than 60% CAGR during the forecast period, i.e., 2022-27. According to MarkNtel Advisors Study.
Global Li-Fi Market Driver:
Overburdened RF Spectrum & Declining Prices of LEDs: With the rapidly rising number of users & devices, there’s a substantial risk of RF (Radio Frequency) spectrum crunch in the coming years, as its size is limited. The Li-Fi technology uses a visible light spectrum for high-speed data transmission, which is different from & 10000 times larger than the RF spectrum currently used in WiFi technology. As a result, the gradually diminishing RF spectrum is projected to tremendously boost the adoption of Li-Fi technology and drive the Global Li-Fi Market through 2027.
Moreover, governments of various countries worldwide are actively encouraging the use of more and more LEDs, owing to their low power usage, better illumination, & zero harmful emissions. In fact, some nations are also offering LED lighting solutions at subsidized rates, which, as a result, has notably reduced their prices in the previous few years. The same trend is expected in the coming years, which would drive more users toward adopting Li-Fi systems and fuel the overall market growth.
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Key Market Reports Highlights
- Market Dimensions & Projections
- Pricing Evaluation
- Recent Strategic Moves by Companies
- Primary Stakeholders
- Import/Export Trend Analysis
- Competitive Landscape Assessment
- Emerging Opportunities
- Market Trends and Indicators
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Global Li-Fi Market Segmentation:
The market report categorizes the market based on different segments and geographical analysis.
Study Timeline:
-Base Year: 2021
-Historical Period: 2017 to 2020
-Forecast Period: 2022 to 2027
- By Components
- LEDs
- Microcontrollers
- Photodetectors
- Others (Optical Sensors, etc.)
- By End-Users
- Aerospace & Defense
- Healthcare
- Education
- Retail
- Automotive
- Others (Transportation, Media & Entertainment, etc.)
- By Region
- North America
- South America
- Europe
- Middle East & Africa
- Asia-Pacific
Competitive Landscape
With strategic initiatives, such as mergers, collaborations, and acquisitions, the leading market companies, including – Acuity Brands, Inc., Fujitsu Ltd., Fsona Networks Corporation, General Electric, Global Li-Fi Tech, Inc, Integrated System Technologies Ltd, Lightbee S.L., LumEfficient Lighting Corporation, LVX System, Lucibel SA, Oledcomm SAS, Panasonic Corporation, PureLiFi Limited, Renesas Electronics Corporation are looking forward to strengthening their market positions.
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