Light Fidelity (Li-Fi)/Visible Light Communication Market Overview:
Light Fidelity (Li-Fi)/Visible Light Communication Market is expected to garner $115 billion by 2022, registering a CAGR of 116.8% during the forecast period 2016 - 2022.
Li-Fi technology facilitates bidirectional, high-speed communication through wireless channels by utilizing the visible light spectrum in a closed controlled environment such as a hospital, airplane, shopping complex, office, or vehicle among others. It is used to provide communication between electronic devices with the help of visible light communication, or VLC technology. The use of VLC systems can be particularly observed in lighting facilities such as LED bulbs.
The need for high-speed data transmission, data security, impending RF spectrum crunch, and several technological superiorities over Wi-Fi technology majorly drive the visible light communication market. Apart from being economical, Li-Fi offers several technological advantages over currently prevailing Wi-Fi technology which include, nearly 100 times faster speed of data transmission, enhanced data security, no electromagnetic interference, and less power consumption. However, the limited range of communication limits the applicability of Li-Fi because it is best used in a closed control environment, while the presence of other light sources hampers its speed. However, extensive research in this field is anticipated to fuel the demand in the light fidelity (Li-Fi) market in the upcoming years.
Segment Review
The light fidelity (Li-Fi) market is segmented based on component, industry vertical, and geography. Based on components, the market is segmented into LED, photodetector, and microcontroller (MCU). Furthermore, the market is categorized based on industry verticals which include retail, electronics, defense & security, automotive & transport, aerospace & aviation, and healthcare. Further, the market is analyzed based on four regions, namely, North America, Europe, Asia-Pacific, and LAMEA.
RF Spectrum Crunch Will Fuel Up the Market
The Li-Fi technology utilizes the visible light spectrum for data transmission, which is different from the radio frequency spectrum used in currently prevailing Wi-Fi technology. According to reports from the US Federal Communication Commission, the radio frequency spectrum is slowly moving towards a spectrum crisis as its spectrum size is limited and the number of devices is increasing with time. On the contrary, Li-Fi uses a visible light spectrum that is 10,000 times larger than the whole RF spectrum. The impending RF spectrum crunch is expected to give a boost to the adoption of Li-Fi technology and this will swell up the demand in the overall visible light communication market in years to come.
Reducing the Cost of LED across the Globe
Being an integral part of the Li-Fi systems LED plays a major role in the overall light fidelity (Li-Fi) market. Usage of LED is being promoted across the globe owing to its low power consumption, no harmful emissions, and better illumination. Governments of various countries provide LED lights at a subsidized rate, which in turn, has considerably reduced its price over the last few years. This trend is expected to follow in years to come which will aid in the adoption of Li-Fi across the globe.
Global Li-Fi Market Scenario
Li-Fi technology utilizes visible light spectrum to transmit heavy amount of data with relatively very high speed, which is currently offered by Wi-Fi technology. Major factors that fuel the demand include its technological superiority over currently prevailing Wi-Fi technology, increase in adoption in industries such as retail, healthcare, aerospace & aviation, and defense & security, and impending RF spectrum crunch. While the growth in the market is majorly hampered by the limited range of communication, which limits its applicability; however, heavy investment in research and development, an increase in adoption for vehicle to vehicle communication in the automotive industry, and the impending need for high-speed data transmission are expected to open new opportunities in the Li-Fi market.
Technological superiority over currently prevailing Wi-Fi technology
Technological superiority over currently prevailing Wi-Fi technology
Li-Fi is a bi-directional wireless communication method that is similar to Wi-Fi technology. However, the former uses visible light for data transmission in place of RF communication used in Wi-Fi and cellular networks. The use of visible light makes the Li-Fi technology 100 times faster than Wi-Fi, less in cost, and requires no external power source as it operates with the glowing LED light. Furthermore, the absence of RF waves provides Li-Fi with the advantage of being used in electromagnetic-sensitive areas, such as hospitals, aircraft, and nuclear power plants, as it does not cause any electromagnetic interference. All these technical superiorities of Li-Fi over Wi-Fi technology drive its market in various applications such as retail, aerospace & defense, and indoor networking. These technical superiorities of LI-Fi over Wi-Fi are expected to fuel up the demand in the market during the next five to six years.
Light Fidelity (Li-Fi)/Visible Light Communication Market Key Benefits:
- This report provides an in-depth analysis of the global Li-Fi market along with the current trends and future estimations, which helps identify lucrative investment opportunities
- This report identifies the key drivers, opportunities, and restraints that prevail in the industry channels that shape the Li-Fi market along with their impact analysis
- Porter’s Five Forces analysis highlights the potency of buyers and suppliers that participate in this market to facilitate better business decisions for stakeholders and strengthen their supplier and buyer networks
- The projected Li-Fi market estimations of geographical regions are based on the current market scenario as well as future trends
Light Fidelity (Li-Fi)/Visible Light Communication Market Report Highlights
| Aspects | Details |
 By Component |
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 By Industry Vertical |
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 By Geography |
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 Key Market Players | Koninklijke Philips NV, Qualcomm Technologies, Inc., Lvx System, PureLiFi ltd., Acuity Brands, Oledcomm S.A.S., Renesas Electronics Corporation, General Electric, IBSENtelecom ltd., Panasonic Corporation |
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