Global Light Fidelity (Li-Fi)/Visible Light Communication is expected to reach $115 billion by 2022, growing at a CAGR of 116.8% during 2016 – 2022. Li-Fi technology facilitates bidirectional, high speed communication through wireless channel by utilizing visible light spectrum in a closed controlled environment such as hospital, airplane, shopping complex, office, and vehicle among others. It is used to provide communication between electronic devices with the help of visible light particularly LED bulbs.
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Need of high speed data transmission, data security, impending RF spectrum crunch, and several technological superiorities over Wi-Fi technology majorly drives the Li-Fi 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, limited range of communication limits the applicability of Li-Fi as it is best used in a closed control environment while the presence of other light sources hampers its speed. Although, extensive research in this field is anticipated to fuel up the demand in the market in the upcoming years.
The Li-Fi market is segmented on the basis of component, industry vertical, and geography. Based on component, the market is segmented into LED, photo detector, and microcontroller (MCU). Furthermore, the market is categorized on the basis of industry vertical which include retail, electronics, defense & security, automotive & transport, aerospace & aviation, healthcare, and others. Further, the market is analyzed on the basis of four regions, namely, North America, Europe, Asia-Pacific, and LAMEA.
RF Spectrum Crunch Will Fuel Up The Market
The Li-Fi technology utilizes visible light spectrum for data transmission, which is different from radio frequency spectrum used in currently prevailing Wi-Fi technology. According to reports of US federal communication commission, radio frequency spectrum is slowly moving towards a spectrum crisis as its spectrum size is limited and the number of devices are increasing with time. On the contrary, Li-Fi uses visible light spectrum which is 10,000 times larger than whole RF spectrum. The impending RF spectrum crunch is expected to give boost to the adoption of Li-Fi technology and this will swell up the demand in overall Li-Fi market in years to come.
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Reducing Cost of LED Across The Globe
Being an integral part of the Li-Fi systems LED plays a major role in the overall Li-Fi market. Usage of LED is being promoted across the globe owing to its low power consumption, no harmful emission, and better illumination. Governments of various countries provide LED lights in 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.
World 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, increase in adoption for vehicle to vehicle communication in automotive industry, and impending need of high speed data transmission are expected to open new opportunities in the market.
Li-Fi is a bi-directional wireless communication method 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, lesser in cost and it requires no external power source as it operates with the glowing LED light. Furthermore, absence of RF waves provides Li-Fi with an advantage of being used in electromagnetic sensitive areas such as hospitals, aircrafts, 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 5‐6 years.
- This report provides an in-depth analysis of the world Li-Fi market along with current trends and future estimations to identify lucrative investment opportunities
- This report identifies the key drivers, opportunities, and restraints that shape the 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
- Market estimation of geographical regions is based on the current market scenario and future trends
Light Fidelity (Li-Fi)/Visible Light Communication Market Segmentation
The market is segmented on the basis of component, industry vertical, and geography.
BY INDUSTRY VERTICAL
Defense & SecurityMilitary operations
Underwater communication in navy
Automotive & TransportV2V communications
Aerospace & Aviationinflight communication and infotainment
Others (mining and chemical)
Chapter: 1 INTRODUCTION
1.1 Report description
1.2 Key benefits
1.3 Key market segments
1.4 Research methodology
1.4.1 Secondary research
1.4.2 Primary research
1.4.3 Analyst tools and models
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Chapter: 2 EXECUTIVE SUMMARY
2.1 CXO perspective
Chapter: 3 MARKET OVERVIEW
3.1 Market definition and scope
3.2 Key findings
3.2.1 Top impacting factors
18.104.22.168 Technological superiority over currently prevailing Wi-Fi technology
22.214.171.124 Increasing adoption in industries such as retail, aerospace, defence & aviation
126.96.36.199 Impending RF spectrum crunch
188.8.131.52 Limited range of communication limits its applicability
3.2.2 Top investment pockets
3.2.3 Top winning strategies
3.3 Porters five force analysis
3.3.1 Bargaining power of suppliers
3.3.2 Bargaining power of buyers
3.3.3 Threats from the new entrants
3.3.4 Threats of substitutes
3.3.5 Competitive rivalry
3.4 Value chain analysis
3.4.1 Raw material
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