Li-Fi Market Analysis | 2023-2028

Market Insights

"The Li-Fi market was estimated at USD 234.4 million in 2022 and is likely to grow at a CAGR of 50.10% during 2023-2028 to reach USD 2681.3 million in 2028".

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Market Dynamics

Introduction

Li-Fi stands for light fidelity. It refers to wireless communication technology, which employs light for transmitting data between devices.

Market Drivers

Growing demand for indoor networking in the commercial sector, rise in penetration of smart devices in Asia-Pacific, and increasing implementation of Li-Fi in healthcare and education sectors in Europe are expected to boost the growth of the market during the forecast period.

key Players

The following are the key players in the Li-Fi Market (arranged alphabetically).

• Corporation
• Fujitsu
• General Electric
• Integrated System Technologies Ltd.
• Lightbee S.L.
• Lucibel
• NAV Technologies
• Oledcomm
• PureLiFi
• Renesas Electronics
• Signify
• SLD Laser
• Velmenni
• VLNComm.

Note: The above list does not necessarily include all the top players in the market.

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Segments Analysis

By Component Type

"LED is estimated to account for the major share of the market during the forecast period".

• The li-fi market is segmented as microcontroller, photodetector, and LED.
• The rising development of LED in commercial establishments and industries on account of its durability, low power consumption, and high energy output, is expected to increase the market share of LED components during the forecast period.

By Application Type

"Automotive is estimated to account for the major share of the market during the forecast period".

• The market is segmented as indoor networking, aerospace, automotive, healthcare, location-based services, underwater communication, defense & security, and intrinsically safe environments.
• Automotive is estimated to account for the major share of the market during the forecast period as it enhances the decision-making capabilities in autonomous cars, facilitates Vehicle to Vehicle (V2V) communication in connected cars, and the ability to exchange data with other vehicles to prevent potential crashes and congested traffic jams.  

Regional Analysis

"North America is expected to lead the Li-Fi market during the forecast period".

• The growth of the region’s market is driven by high demand for energy-efficient devices and high-speed communication. Furthermore, the establishment of infrastructure and implementation of advanced technologies with better connectivity for better connectivity to drive market expansion in the region.
• The U.S. and Canada are the key growth regions expected to contribute the maximum to the market. The development of green buildings and the surge in the shelf-life of LEDs are likely to propel the creation of commercial schematics in the North American market. Europe and Asia-Pacific to also offer substantial growth opportunities during the forecast period.

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Research Methodology

• This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with Stratview Research’s internal database and statistical tools.
• More than 1,000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles have been leveraged to gather the data.
• We conducted more than 10 detailed primary interviews with the market players across the value chain in all four regions and with industry experts to obtain both qualitative and quantitative insights.

Report Features

This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision-making for the existing market players as well as those willing to enter the market.

What Deliverables Will You Get in this Report?

The Li-Fi market is segmented into the following categories.

By Component Type

• Microcontroller
• Photodetector
• LED

By Application Type

• Indoor Networking
• Aerospace
• Automotive
• Healthcare
• Location-based Services
• Underwater Communication
• Defense & Security
• Intrinsically Safe Environments

By Region

• North America (Country Analysis: the USA, Canada, and Mexico)
• Europe (Country Analysis: Germany, France, the UK, Russia, Spain, and Rest of Europe)
• Asia-Pacific (Country Analysis: China, Japan, India, South Korea, and Rest of Asia-Pacific)
• Rest of the World (Sub-Region Analysis: Latin America, the Middle East, and Others)

Report Customization

With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:

Company Profiling

• Detailed profiling of additional market players (up to 3 players)
• SWOT analysis of key players (up to 3 players)

Market Segmentation

• Current market segmentation of any one of the component types by application type.

Competitive Benchmarking

• Benchmarking of key players on the following parameters: Product portfolio, geographical reach, regional presence, and strategic alliances.

Custom Research: Stratview Research offers custom research services across sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry to sales@stratviewresearch.com.

Recent News

October 2022 Nav Wireless Technologies introduces transformative next-generation communication technology (LiFi) at India Mobile Congress 2022

Pioneer in offering next-generation LiFi(Light Fidelity) technology solutions which are much faster, safer, and cheaper than existing optical cable, MM wave radio, and WiFi technology. Read more...