Li-Fi Market to Surpass 116.96 Billion by 2030 Drives Due to Increasing Adoption of Connected Devices
SkyQuest projects that the Li-Fi market will attain a value of USD 116.96 billion by 2030, with a CAGR of 31.6% over the forecast period (2023-2030). The rapid proliferation of smart and connected devices has led to an exponential growth in data generation. This surge in data has put immense strain on existing networking technologies such as Wi-Fi and 5G, leading to concerns over bandwidth limitations, congestion, and security vulnerabilities. Li-Fi technology is a promising solution to address these challenges in the Li-Fi market.
Westford, USA, Aug. 06, 2023 (GLOBE NEWSWIRE) — According to SkyQuest, the increasing adoption of connected devices in business establishments has created a significant demand for indoor distributed networks. Li-Fi technology offers a compelling solution by enabling seamless indoor wireless connectivity. With Li-Fi, business users can enjoy fast and reliable communication, including making calls, sending and receiving emails, and accessing the internet at high speeds in the Li-Fi market.
Browse in-depth TOC on “Li-Fi Market”
- Pages – 239
- Tables – 97
- Figures – 76
Light fidelity is an innovative wireless communication technology that utilizes the visible light or infrared spectrum for high-speed data transmission. Unlike traditional communication methods that rely on radio waves, Li-Fi leverages light waves emitted by LED bulbs to transmit data in the Li-Fi market. This cutting-edge technology offers a range of advantages, including enhanced security, improved safety, and ultra-fast data transfer rates.
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Prominent Players in Li-Fi Market
- VLNComm Inc.
- Acuity Brands Lighting Inc.
- ByteLight Inc.
- Firefly Wireless Networks
- Fraunhofer HHI
- General Electric
- Ibsentelecom Ltd.
- LVX System Corp.
- Panasonic Corp.
- Philips Lighting
- pureLiFi Ltd.
- Renesas Electronics Corporation
- Samsung Electronics Co. Ltd.
- Siemens AG
- Signify Holding (formerly Philips Lighting)
- Sunpartner Technologies
- Toshiba Corporation
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Photodetector Segment is Expected to Grow the Market Due to the Increased Utilization of Photodetectors
Photodetector segment is anticipated to experience significant growth in the Li-Fi market. This growth is primarily driven by the increased utilization of photodetectors, particularly photodiodes, in various applications. For instance, photodiodes are crucial in tracking and interpreting images by converting incident light into electrical signals.
The markets in North America is projected to hold the largest market share in the global Li-Fi market during the forecast period. This dominance can be attributed to several key factors driving the region’s growth. North America is known for its continuous technological advancements and innovation in various industries.
LED Segment is Expected to Dominate the Market Due to the Increased Adoption of LED Bulbs
LED segment is projected to hold the highest revenue share in the Li-Fi market driven by several factors. One key factor is the increased adoption of LED bulbs across various industries and applications. LED technology has gained significant popularity due to its energy efficiency and a longer lifespan than traditional lighting solutions. In addition, the lower prices of LED bulbs have also contributed to their widespread adoption, making them a cost-effective choice for both residential and commercial purposes.
Regional markets in Europe are poised for significant growth in adopting Li-Fi technology. Several countries in the region boast a well-established automotive sector, making it a favorable environment for implementing advanced connectivity solutions in the Li-Fi market. Li-Fi technology holds immense potential in enabling vehicle-to-vehicle (V2V) connectivity in self-driving cars, a key component of future mobility.
A comprehensive analysis of the major players in the Li-Fi market has been recently conducted in a report. The report encompasses various aspects, including collaborations, mergers, innovative business policies, and strategies, providing valuable insights into key trends and breakthroughs in the market. Furthermore, the report scrutinizes the market share of the top segments and presents a detailed geographic analysis. Lastly, the report highlights the major players in the industry and their endeavours to develop innovative solutions to cater to the growing demand.
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Key Developments in Li-Fi Market
- Brother International Australia introduced an innovative addition to its mobile A4 printer range in 2022. The new PJ-800 series is a lightweight and compact printer, weighing only 480 grams and measuring 26 centimetres in size.
- Angry Miao introduced the world’s first Alice keyboard with a 3-stage adjustable leaf-spring mount called AM AFA recently. This keyboard innovation allows users to adjust the acute sensitivity and feedback according to their preference and typing style.
Key Questions Answered in Li-Fi Market Report
- What specific growth drivers are projected to impact the market during the forecast period?
- List the top companies in the market and explain how they have achieved their positions of influence.
- In what ways do regional trends and patterns differ within the global market, and how these differences shape the market’s future growth?
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SkyQuest Technology is leading growth consulting firm providing market intelligence, commercialization and technology services. It has 450+ happy clients globally.
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