Li-Fi Market is estimated to grow at a CAGR of 68.4% during forecast period and projected to reach USD 2,548 Million by 2025.GMI Research contemplates that the Li-Fi market will endure an accretion in the demand of light fidelity as fast data transfer and data safety are very important in today’s scenario.
Introduction of the Li-Fi Market
Light Fidelity (Li-Fi) or Visible Light Communication (VLC) is a wireless communication technology used to transmit data quickly over the ultraviolet, visible light spectrum, and infrared radiation. LiFi systems consist of different components, such as Light Emitting Diode (LED), Photodetector, and Microcontroller. Light acts as the primary source for high-speed data transfer by activating the conversion of light waves into an electric signal by a photodetector.
Key Players of the Market
Li-Fi Market Dynamics
The significant drivers stimulating the Li-Fi market are the growing requirement for fast data transmission, data security, and technology development requirements from existing data transfer technologies, such as Wi-Fi (Wireless-Fidelity). Further, industries including defense, healthcare, and automotive are also steering the growth of the global Li-Fi market. However, the driver that restrains the Li-Fi market size is the lack of awareness about LiFi technology, especially in the emerging regions. In addition, as per the Li-Fi market forecast, the restriction of LiFi technology, i.e., it is best used for a small distance or in a closed environment, further limits the market growth. The market players like PureLiFi and Lucibel are focusing on research & development, which is forecasted to soar the LiFi market share in the next few years.
Li-Fi Market Segmentation
Segmentation By Component Type
Segmentation By End-User
Segmentation By Region
Rest of the World
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