Li-Fi Market – Global Industry Forecast & Analysis over 2020 - 2030

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According to a research report by Global Market Insights Inc., the global (Light Fidelity) Li-Fi market is likely to surpass a valuation of $8 billion by the end of 2030. Growing adoption of Li-Fi systems across the education sector is anticipated to propel the global Li-Fi market share over the coming years. Research institutes and schools are increasingly implementing Li-Fi systems in order to offer secure and seamless internet connectivity to their students. In addition, drastically rising data consumption and increasing RF spectrum crunch is further laying down the groundwork that would foster the adoption of alternative wireless communication technologies like Li-Fi, pushing overall industry outlook further. 

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Additionally, Li-Fi systems also observe uses across those areas where Wi-Fi technology faces issues or does not hold a presence such as operation theatres in hospitals, aircraft, power plants, and several other places. More specifically, Li-Fi can be used in areas where radio (electromagnetic) interference is a major point of concern for the security and safety of people and equipment. Because Li-Fi uses light to transmit data as opposed to radio signals

Meanwhile, owing to the global impact of the coronavirus pandemic, and the subsequent lockdowns imposed by several governments, the growth of the Li-Fi market is expected to witness a considerable slowdown. However,  the industry is expected to pick up significantly 2021 onwards as the overall impact of the disease becomes less severe.

Going forward, with regards to component, microcontrollers are estimated to exhibit a rising demand for the implementation of the Li-Fi technology. This projected growth can be ascribed to the product’s flexible mounting ability that allows it to be installed on small areas.

In fact, Li-Fi devices that are microcontroller-based come with ASICs (Application Specific Integrated Circuits), which can be installed in various devices such as laptops, smartphones, and tablets. Due to their high flexibility of movement with a single device, microcontrollers lower the need for several components for Li-Fi system installations, driving its demand in the overall industry.
Speaking of the application segment, owing to the security risks associated with existing data transfer technologies like Wi-Fi and RF, adoption of Li-Fi is expected to rise tremendously across the overall defense and security sector by 2030. The aforementioned technologies, especially Wi-Fi and RF, are highly vulnerable to data loss or data leakage, making them unreliable.

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Geographically, the rapidly rising adoption of Li-Fi technology across military, private, and commercial sectors is slated to drive the Asia Pacific Li-Fi market through the forecast analysis period. Additionally, the growing traction of smartphones throughout the region is creating an immense demand for faster data transfer speeds, exerting immense pressure on the existing RF-based wireless networks and promoting the adoption of Li-Fi system.

Several prominent Li-Fi market players are implementing several innovative strategies such as acquisitions, mergers, investment rounds, partnerships, and new product launches to gain a competitive edge over their competitors in the industry. Citing an instance, in June 2019, Signify, a new brand name of Philips Lighting, reportedly launched its new Li-Fi system called Trulifi, which boasts of data transfer speeds of over 150 Mbps.

The competitive landscape of the global Li-Fi market is inclusive of players such as NAV Technologies, SLD Laser, VLNComm, Acuity Brands, Renesas Electronic Corporation, Oledcomm, Signify, and Lucibel among others.

To browse this report titled, “Li-Fi Market Overview and Product Scope over 2020 - 2030: Global Market Insights, Inc.” https://www.gminsights.com/industry-analysis/Li-Fi-market

About Global Market Insights:

Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

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Global Market Insights, Inc.
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