Report Scope & Overview:
Light Fidelity [LiFi] Technology Market size was valued at USD 514.72 Million in 2022 and is expected to reach USD 33242 Million by 2030, and grow at a CAGR of 68.37% over the forecast period 2023-2030.
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.
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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.
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
The Li-Fi signal cannot pass through walls.
Inadequate Understanding of Technology's Benefits.
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.
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
LBS (Location-based Services)
On The Basis of Component
On The Basis of Industry Vertical
Defense & Security
Automotive & Transport
Aerospace & Aviation
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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.
Rest of Europe
Rest of Asia-Pacific
The Middle East & Africa
Rest of Middle East & Africa
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
Renesas Electronics Corporation - Company R&D Analysis
|Market Size in 2022||US$ 514.72 Mn|
|Market Size by 2030||US$ 33242 Mn|
|CAGR||CAGR of 68.37% From 2023 to 2030|
|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 514.72 Million in 2022.
Ans: -The Light Fidelity (LiFi) Technology Market is to grow at a CAGR of 68.37% over the forecast period 2023-2030.
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
1.1 Market Definition
1.3 Research Assumptions
2. Research Methodology
3. Market Dynamics
4. Impact Analysis
4.1 COVID-19 Impact Analysis
4.2 Impact of Ukraine- Russia war
4.3 Impact of ongoing Recession
4.3.2 Impact on major economies
18.104.22.168 United Kingdom
22.214.171.124 South Korea
126.96.36.199 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
9. Light Fidelity (LiFi) Technology Market Segmentation, by Component
9.1 Optical Sensing
9.3 Photo Detectors
10. Light Fidelity (LiFi) Technology Market Segmentation, by Industry Vertical
10.3 Defense & Security
10.4 Automotive & Transport
10.5 Aerospace & Aviation
11. Regional Analysis
11.2 North America
11.3.6 The Netherlands
11.3.7 Rest of Europe
11.4.2 South Korea
11.4.6 Rest of Asia-Pacific
11.5 The Middle East & Africa
11.5.3 South Africa
11.6 Latin America
11.6.3 Rest of Latin America
12. Company Profiles
12.1 General Electric
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
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