NEWS
NEWS
The global market info and estimation about Light Fidelity (Li-fi) from 2022 to 2030
20-05-2023
The global light fidelity market volume was up to about USD 323.6 million in 2022,it is expected to develop at a Compound Annual Growth Rate (CAGR) of 51.0% from 2023 to 2030. Light Fidelity (Li-Fi) uses visible light communication technology that uses LED lights to transmit data wirelessly.Li-Fi technology achieves high-speed internet connectivity, highly secure data transmission, and no interference like traditional radio waves, making it a faster and cheaper option for data transmission.
According to the International Telecommunication Union, over 5.3 billion persons in the world are using the internet as of 2022, and it is expected to keep growing exponentially. As the number of internet users increases and the amount of data traffic increases significantly, the radio frequency (RF) spectrum is not enough and limiting bandwidth availability. For this reason, Li-Fi is used to improve indoor internet connectivity greatly without interfering with the RF spectrum.Besides, its lower costs,energy saving and simple application will drive the market growth more.
However, Li-Fi faces some operational challenges. One such challenge is limited range. Since Li-Fi communicates through light, the receivers need to be in the range of the light.Li-Fi has a range of only 10 meters, limiting the use of Li-Fi in open environments. Another challenge is the limited compatibility. Some electronic devices are not compatible with Li-Fi as of 2022.
Based on Li-fi type, the market is segmented into Li-Fi lamp,Lifi Dongal,Access point and Lifi Kit. The Lifi Dongal held the biggest market share in 2022 and contribute to the Li-Fi revenue. As for Li-Fi applications, the market covers smartphones, standalone and Advance Tracker.The Advance Tracker has the biggest market share. The Advanced Trackers provide a cost-effective and secured method to track the movement of individuals and objects, which is sutable for a wide range of applications such as inventory management, location tracking and industrial automation. Based on vertical, the Li-Fi market covers education,retails,healthcare, aviation,exhibition and others. The Aviation market segment is expected to be the fastest growing owning to the technological benefits in terms of higher bandwidth, improved reliability and increased security.
North America dominated the Li-Fi market in 2022 and covered a revenue share of more than 32.0%. Its market growth arises from the growing demand for internet connectivity from various industry verticals. Also, enterprises are seeking connectivity technologies that offer higher speed and security which bodes well. In April 2021, PureLiFi announced its agreement with the U.S. Army to supply its Li-Fi technology with its Kitefin platform. The platform uses Li-Fi and is a next-generation optical wireless communication system that provides secure data transmission without radio frequencies.
Asia Pacific is expected to see significant growth in near future. Asia Pacific is home to some of the prominent market players. Moreover, organizations in Asian countries, such as China, India, and Japan, are investing aggressively in Li-Fi-related innovations. For instance, in October 2022, Nav Wireless Technologies Pvt. Ltd., a research-based company in India, introduced next-generation Li-Fi technology solutions that are much faster and cheaper than existing network solutions.
The global LiFi (light fidelity) market is fragmented with the presence of several global as well as regional vendors. A few world-famous vendors that offer LiFi (light fidelity) in the market are Acuity Brands Inc., Fujitsu Ltd., General Electric Co., Global LiFi Tech, Koninklijke Philips NV, KYOCERA corp., LIFX, LightBee SL, Lucibel SA, Luciom, LumEfficient Lighting Corp., LVX System, nextLiFi, Oledcomm, pureLiFi Ltd., Signify NV, Velmenni, VLNComm Inc., Wipro Ltd., and Zero1 Pte Ltd. and others.
According to the International Telecommunication Union, over 5.3 billion persons in the world are using the internet as of 2022, and it is expected to keep growing exponentially. As the number of internet users increases and the amount of data traffic increases significantly, the radio frequency (RF) spectrum is not enough and limiting bandwidth availability. For this reason, Li-Fi is used to improve indoor internet connectivity greatly without interfering with the RF spectrum.Besides, its lower costs,energy saving and simple application will drive the market growth more.
However, Li-Fi faces some operational challenges. One such challenge is limited range. Since Li-Fi communicates through light, the receivers need to be in the range of the light.Li-Fi has a range of only 10 meters, limiting the use of Li-Fi in open environments. Another challenge is the limited compatibility. Some electronic devices are not compatible with Li-Fi as of 2022.
Based on Li-fi type, the market is segmented into Li-Fi lamp,Lifi Dongal,Access point and Lifi Kit. The Lifi Dongal held the biggest market share in 2022 and contribute to the Li-Fi revenue. As for Li-Fi applications, the market covers smartphones, standalone and Advance Tracker.The Advance Tracker has the biggest market share. The Advanced Trackers provide a cost-effective and secured method to track the movement of individuals and objects, which is sutable for a wide range of applications such as inventory management, location tracking and industrial automation. Based on vertical, the Li-Fi market covers education,retails,healthcare, aviation,exhibition and others. The Aviation market segment is expected to be the fastest growing owning to the technological benefits in terms of higher bandwidth, improved reliability and increased security.
North America dominated the Li-Fi market in 2022 and covered a revenue share of more than 32.0%. Its market growth arises from the growing demand for internet connectivity from various industry verticals. Also, enterprises are seeking connectivity technologies that offer higher speed and security which bodes well. In April 2021, PureLiFi announced its agreement with the U.S. Army to supply its Li-Fi technology with its Kitefin platform. The platform uses Li-Fi and is a next-generation optical wireless communication system that provides secure data transmission without radio frequencies.
Asia Pacific is expected to see significant growth in near future. Asia Pacific is home to some of the prominent market players. Moreover, organizations in Asian countries, such as China, India, and Japan, are investing aggressively in Li-Fi-related innovations. For instance, in October 2022, Nav Wireless Technologies Pvt. Ltd., a research-based company in India, introduced next-generation Li-Fi technology solutions that are much faster and cheaper than existing network solutions.
The global LiFi (light fidelity) market is fragmented with the presence of several global as well as regional vendors. A few world-famous vendors that offer LiFi (light fidelity) in the market are Acuity Brands Inc., Fujitsu Ltd., General Electric Co., Global LiFi Tech, Koninklijke Philips NV, KYOCERA corp., LIFX, LightBee SL, Lucibel SA, Luciom, LumEfficient Lighting Corp., LVX System, nextLiFi, Oledcomm, pureLiFi Ltd., Signify NV, Velmenni, VLNComm Inc., Wipro Ltd., and Zero1 Pte Ltd. and others.
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