Market Overview

Li-Fi refers to a wireless communication channel that facilitates high-speed and bidirectional signals. This is done in a closed and controlled environment using the visible light spectrum. The visible light communication or the VLC is expanded and stabilized using this process. The usage of wireless communication provides a wider wideband of the spectrum with a reliable internet connection. It has almost zero interference from electromagnetic radiations, ensuring the smooth functioning of the same. Most of the lighting facilities, including the one used in LED bulbs, are facilitated with VLC systems. The usage of Li-Fi technology provides assured data security services with no chances of data breaching.

The Li-Fi Market was valued at a market size of $295.4 million in 2020. With all of its driving and restraining factors, the market is expected to show healthy and enhanced growth in its forecast period. The market's forecast period was announced from 2021 to 2026, with a fixed growth rate of 69.7% CAGR. By the end of its forecast period, the Li-Fi market is expected to value at $4157.38 million. Multiple features like interference mitigation, multiuser access and mobility support have increased Li-Fi networking usage. The energy-efficient techniques adopted by the Li-Fi networking in smart homes and smart cities have increased the adoption of the same around the world. This has attracted considerable consumer interest in the government. The vendors from all around the world are focussed on creating a high-speed data transfer from visible light. This is not only energy efficient but also creates a huge amount of market opportunities. Factors like such have boosted the growth and development of the Li-Fi Market.

Apart from this, there have been certain limitations regarding the usage of Li-Fi networking that hampers the market growth. Physical barriers often limit the operational usage and scope of LED lamps that work on Li-Fi. The same usage is also limited to indoors as they cannot be facilitated outdoors. These are some factors restricting market growth.

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Industry News

Some of the major developments in the Li-Fi Market include the collaboration of the Getac Technology firm, powered by Li-Fi networking. This collaboration targeted on public safety enhanced energy production and automation.

Major Players:

Players leading the light-fidelity market include Panasonic Corporation (Japan), Oledcomm (France), Koninklijke Philips N.V. (the Netherlands), LightPointe Communications, Inc. (US), PureLiFi Limited (UK), and LightBee Corporation (US), FSONA Networks (UK), Velmenni (Tartu), Acuity Brands, Inc. (US), and General Electric (US), among others.

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Market Segmentation

Based on multiple components, the Li-Fi Market is segmented into application, vertical end and type and component. A division helps in better analysis of the market.

By applications, the market is divided into the standalone, smartphone and advance tracker. By the vertical end, the market is again segmented into education, retail and exhibition, along with aviation and healthcare. The market is divided into Lifi dongal, Li-Fi Kit, access point and LiFi lamp based on their type. Based on its components, the market is segmented into photodetectors and Led and MCU.

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Regional Analysis

The Li-Fi Market is spread globally, covering parts of India and China in Asia and UK, Russia and Italy in Europe. The market also covers major areas of North America like the US. The increasing installation of location-based indoor light fixtures worldwide has driven the market globally. Latin America and South Africa also have seen increased adoption of VLC over the years.