Li-Fi Market by Product Types (Indoor and Outdoor), and Regions (Asia Pacific, North America, Latin America, Europe, and Middle East & Africa) - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast 2021 – 2028.
The global Li-Fi market size was valued at USD 294 Million in 2020 and is projected to expand at a CAGR of 68% during the forecast period, 2021 - 2028. The growth of the market is attributed to rising industrial 4.0 applications.
Li-Fi systems, in compared to standard options such as Wi-Fi, offer a much larger bandwidth spectrum, high speed rates, improved data security, and lower network and radio interference. The COVID-19 pandemic has wreaked havoc on the day-to-day operations of a variety of businesses across the globe. However, it has increased the digitization, driving the demand for Li-Fi solutions.
From devices to networking protocols, liquid fidelity (Li-Fi) solutions can handle all of the major concerns about wireless systems and their security. Li-Fi provides an upgraded wireless infrastructure that allows for high peak data rates while still assuring energy efficiency.
Market Trends, Drivers, Restraints, and Opportunities
- Rising frequency of cybercrimes around the world and the growing requirement for solutions to secure data transfer are driving the market growth.
- Hyper-urbanization and the growing construction of smart cities around the world are the key drivers of the market growth.
- Wide spread adoption of cloud computing, big data tools, and multi-tier data center architectures across industries are estimated to propel the growth of the market.
- The COVID-19 outbreak hampered the construction industry owing to supply chain disruption. However, the relaxation in restrictions owing to acceleration in vaccination drive is anticipated to help the market recover soon.
- Radiations caused by Li - Fi is estimated to hinder the market growth.
- Growing development of smart devices is anticipated to create immense opportunities for the market players.
Scope of the Report
The report on the global Li-Fi market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
|
Attributes |
Details |
|
Report Title |
Li-Fi Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast |
|
Base Year |
2020 |
|
Historic Data |
2018–2019 |
|
Forecast Period |
2021–2028 |
|
Segmentation |
Product Types (Indoor and Outdoor) |
|
Regional Scope |
Asia Pacific, North America, Latin America, Europe, and Middle East & Africa |
|
Report Coverage |
Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast |
|
Key Players Covered in the Report |
Lucibal SA; Oledcomm SAS; LVX System; PureLIFI Ltd; and Signify Holding BV |
Li-Fi Market Segment Insights:
Indoor segment is anticipated to expand at a high CAGR
On the basis of product types, the market is segregated into indoor and outdoor. The indoor segment is anticipated to account for a major market share during the forecast period. Increasing demand for comfort and user experience among residents in smart buildings is driving the growth of the market segment. Li-Fi provide location-based services such as intelligent auto parking, health monitoring, logistics, and shopping assistance. Additionally, it assists with indoor shopping. The core concept behind Li-Fi is to use visible light from an LED light bulb to send high-speed data to a photodetector linked to a smartphone or tablet. Growing use of LED bulbs in buildings for lighting is anticipated to open up a plethora of possibilities for Li-Fi-based applications. Li-Fi is particularly cost-effective to use in smart buildings as it combines the functions of high-speed wireless data transfer and interior lighting infrastructure.
North America is projected to hold a major market share
In terms of regions, the global Li Fi market is classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. Growing demand for indoor location-based services embedded in light fixtures in retail stores and hotels in countries are driving the growth of the market in region Several businesses are installing VLC in supermarkets, which helps retailers embed customer's shopping history. To combat the problem of subsea connectivity, the US Navy is developing cutting-edge communication equipment based on Li-Fi. Li-Fi emissions are being evaluated as a preferred choice for usage in petrochemical facilities or on aircrafts. On the other hand, the market in Asia Pacific is expected to expand at a robust rate owing to increasing smart construction activities in countries such as India and China.
2. Assumptions and Acronyms Used
3. Research Methodology
4. Li-Fi Market Overview
4.1. Introduction
4.1.1. Market Taxonomy
4.1.2. Market Definition
4.2. Macro-Economic Factors
4.2.1. Industry Outlook
4.3. Li-Fi Market Dynamics
4.3.1. Market Drivers
4.3.2. Market Restraints
4.3.3. Opportunity
4.3.4. Market Trends
4.4. Li-Fi Market - Supply Chain
4.5. Global Li-Fi Market Forecast
4.5.1. Li-Fi Market Size (US$ Mn) and Y-o-Y Growth
4.5.2. Li-Fi Market Size (000’ Units) and Y-o-Y Growth
4.5.3. Li-Fi Market Absolute $ Opportunity
5. Global Li-Fi Market Analysis and Forecast by Region
5.1. Market Trends
5.2. Introduction
5.2.1. Basis Point Share (BPS) Analysis by Region
5.2.2. Y-o-Y Growth Projections by Region
5.3. Li-Fi Market Size and Volume Forecast by Region
5.3.1. North America
5.3.2. Latin America
5.3.3. Europe
5.3.4. Asia Pacific
5.3.5. Middle East and Africa (MEA)
5.4. Absolute $ Opportunity Assessment by Region
5.5. Market Attractiveness/Growth Potential Analysis by Region
5.6. Global Li-Fi Demand Share Forecast, 2019-2026
6. North America Li-Fi Market Analysis and Forecast
6.1. Introduction
6.1.1. Basis Point Share (BPS) Analysis by Country
6.1.2. Y-o-Y Growth Projections by Country
6.2. North America Li-Fi Market Size and Volume Forecast by Country
6.2.1. U.S.
6.2.2. Canada
6.3. Absolute $ Opportunity Assessment by Country
6.4. Market Attractiveness/Growth Potential Analysis
6.4.1. By Country
6.4.2. By Product Type
6.4.3. By Application
6.5. North America Li-Fi Demand Share Forecast, 2019-2026
7. Latin America Li-Fi Market Analysis and Forecast
7.1. Introduction
7.1.1. Basis Point Share (BPS) Analysis by Country
7.1.2. Y-o-Y Growth Projections by Country
7.1.3. Latin America Average Pricing Analysis
7.2. Latin America Li-Fi Market Size and Volume Forecast by Country
7.2.1. Brazil
7.2.2. Mexico
7.2.3. Rest of Latin America
7.3. Absolute $ Opportunity Assessment by Country
7.4. Market Attractiveness/Growth Potential Analysis
7.4.1. By Country
7.4.2. By Product Type
7.4.3. By Application
7.5. Latin America Li-Fi Demand Share Forecast, 2019-2026
8. Europe Li-Fi Market Analysis and Forecast
8.1. Introduction
8.1.1. Basis Point Share (BPS) Analysis by Country
8.1.2. Y-o-Y Growth Projections by Country
8.1.3. Europe Average Pricing Analysis
8.2. Europe Li-Fi Market Size and Volume Forecast by Country
8.2.1. Germany
8.2.2. France
8.2.3. Italy
8.2.4. U.K.
8.2.5. Spain
8.2.6. Russia
8.2.7. Rest of Europe
8.3. Absolute $ Opportunity Assessment by Country
8.4. Market Attractiveness/Growth Potential Analysis
8.4.1. By Country
8.4.2. By Product Type
8.4.3. By Application
8.5. Europe Li-Fi Demand Share Forecast, 2019-2026
9. Asia Pacific Li-Fi Market Analysis and Forecast
9.1. Introduction
9.1.1. Basis Point Share (BPS) Analysis by Country
9.1.2. Y-o-Y Growth Projections by Country
9.1.3. Asia Pacific Average Pricing Analysis
9.2. Asia Pacific Li-Fi Market Size and Volume Forecast by Country
9.2.1. China
9.2.2. Japan
9.2.3. South Korea
9.2.4. India
9.2.5. Australia
9.2.6. Rest of Asia Pacific (APAC)
9.3. Absolute $ Opportunity Assessment by Country
9.4. Market Attractiveness/Growth Potential Analysis
9.4.1. By Country
9.4.2. By Product Type
9.4.3. By Application
9.5. Asia Pacific Li-Fi Demand Share Forecast, 2019-2026
10. Middle East & Africa Li-Fi Market Analysis and Forecast
10.1. Introduction
10.1.1. Basis Point Share (BPS) Analysis by Country
10.1.2. Y-o-Y Growth Projections by Country
10.1.3. Middle East & Africa Average Pricing Analysis
10.2. Middle East & Africa Li-Fi Market Size and Volume Forecast by Country
10.2.1. Saudi Arabia
10.2.2. South Africa
10.2.3. UAE
10.2.4. Rest of Middle East & Africa (MEA)
10.3. Absolute $ Opportunity Assessment by Country
10.4. Market Attractiveness/Growth Potential Analysis
10.4.1. By Country
10.4.2. By Product Type
10.4.3. By Application
10.5. Middle East & Africa Li-Fi Demand Share Forecast, 2019-2026
11. Competition Landscape
11.1. Global Li-Fi Market: Market Share Analysis
11.2. Li-Fi Distributors and Customers
11.3. Li-Fi Market: Competitive Dashboard
11.4. Company Profiles (Details: Overview, Financials, Developments, Strategy)
11.4.1. Lucibal SA Oledcomm SAS LVX System PureLIFI Ltd Signify Holding BV
The global Li Fi market is segmented on the basis of
Product Types
- Indoor
- Outdoor
- Asia Pacific
- North America
- Latin America
- Europe
- Middle East & Africa
- Lucibal SA
- Oledcomm SAS
- LVX System
- PureLIFI Ltd
- Signify Holding BV
The major players in the Li Fi market include Lucibal SA, Oledcomm SAS, LVX System, PureLIFI Ltd, and Signify Holding BV.
Companies are engaging in mergers, acquisitions and partnerships to expand their market share. In January 2020, Getac Technology incorporated pureLIFI-powered Li-Fi technology into rugged mobiles. Getac's Li-Fi Solutions is anticipated help the defense, public safety, automotive, energy, and manufacturing industries.
Our Clients
Related Reports
Some other reports from this category!
