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Light Fidelity (LiFi) Technology Market

Light Fidelity (LiFi) Technology Market Size, Share & Segmentation 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) by Regions and Global Market Forecast 2022-2028

Report Id: SNS/ICT/2312 | July 2022 | Region: Global | 130 Pages

Report Scope & Overview:

The Light Fidelity [LiFi] Technology Market size was valued at USD 305.71 Million in 2021 and is expected to reach USD 11726.34 Million by 2028, and grow at a CAGR of 68.37% over the forecast period 2022-2028.

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.

Light Fidelity (LiFi) Technology Market Graph

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.

MARKET DYNAMICS:

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.

IMPACT OF COVID-19:

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.

KEY MARKET SEGMENTS:

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

Light Fidelity (LiFi) Technology Market

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.

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

KEY PLAYERS:

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

Light Fidelity (LiFi) Technology Market Report Scope:
Report Attributes Details
 Market Size in 2021  US$ 305.71 Mn
 Market Size by 2028  US$ 11726.34 Mn
 CAGR   CAGR of 68.37% From 2022 to 2028
 Base Year  2021
 Forecast Period  2022-2028
 Historical Data  2017-2020
 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

 


Frequently Asked Questions (FAQ) :

Ans: - The Light Fidelity (LiFi) Technology Market size was valued at USD305.37Million in 2021.

Ans: -The Li-Fi signal cannot pass through walls and Inadequate Understanding of the Technology's Benefits.

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

COVID 19 Impact Analysis

4.2 Impact of the Ukraine- Russia war

 

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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Secondary Research

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