Li-Fi also known as light fidelity communication system, is a wireless optical networking technology which uses common led light bulbs to transmit data with a speed of around 224 gigabits per second. Li-Fi (Light Fidelity) market is anticipated to grow with a CAGR of 103% during the forecast period 2016-2023. Li-Fi technology has developed in the field of 5G visual light communication system and holds the future of wireless internet access. The radio waves used by Wi-Fi get easily congested and therefore the need for faster and more efficient wireless communication has increased. Li-Fi is the best solution for such congestions as it provides reliable, affordable and more secure internet access. The increasing data traffic across the world and higher speed limit than Wi-Fi are some of the key opportunities for the growth of global Li-Fi market. Factors impacting the growth of global Li-Fi market includes:
- Faster and safer data transfer
- Increasing demand across various applications
- High degree of security
- Huge bandwidth spectrum
- Rising R&D investment
Li-Fi technology offers high rate for data transfer owing to presence of low interference from all the natural and artificial sources which avoid receiver saturation as well as provide large bandwidth network. Growth in data production and usage is influencing the need and demand for the wireless optical networks together with RF-based networks. Increasing demand from various applications such as hospitals, schools and medical centers are projected to contribute to the growth of global Li Fi market in the forecast period. Li Fi technology comprises of visible light wavelengths as an alternative of radio waves which helps in eradicating the negative effects of radio waves on human health. Various nations across the globe such as the U.S., China and Japan have initiated energy conservation through the assistance of LED lighting technology. For example, the government of China funds high brightness LED industry through incentives and resources to improve the manufacturing competencies of domestic LED manufacturers and financial subsidies. Low awareness about the Li Fi technology is hampering the growth of global Li Fi market. Moreover, misapprehensions such as the technology being line-of-sight in nature is also estimated to hinder the growth.
The global Li-Fi market is segmented into application and component. On the basis of application, the market is sub segmented into:
- Automotive
- Aerospace
- Defense and security
- Healthcare
- Indoor networking
- Intrinsically
- Safe environments
- Location based services (LBS)
- Underwater communication
On the basis of component, the market is sub segmented into:
- LED
- Photo detector
- Microcontroller
The revenue for the above application segment is specific to the global light fidelity market. However, the total revenue of application segment in general has been excluded from the scope of the report. Also, the total market revenue has been calculated by summing up the component segment.
Geographically, the global Li-Fi market is segmented into:
- North America (U.S. & Canada)
- Asia Pacific (China, India, Japan, RoAPAC)
- Europe (UK, France, Germany, RoE)
- Rest of World
North America holds the largest revenue share in the global li-fi market due to the increasing data traffic and increasing demand for safer and faster data transfer across applications such as automotive, healthcare etc. The North American li-fi market is also driven by the increasing technological innovation in the global li-fi market. According to federal communication commission USA, growth in spectrum crunch is leading to huge growth opportunity of the North American li-fi market. Asia Pacific is the fastest growing region in the global li-fi market. The reason behind this growth is increasing technological innovations in countries such as China and Japan, the rising adaptability and accessibility of the smartphones and connected devices, increase in data traffic in the region, growing bandwidth demand and increasing need for faster and safer data transfer. The regional growth is expected to rise because of the need for internet connectivity in underdeveloped countries.
The Li Fi (Light Fidelity) market is segmented into component and application. The component segment of global li-fi market is sub segmented into LED, photo detector and microcontroller. Rising regulatory initiatives for energy effectiveness has directly amplified the demand for LED. Photo detector segment is expected to grow with an impressive CAGR during the forecast period 2016-2023. The application sub segment is further segmented into automotive, aerospace, defense and security, healthcare, indoor networking, intrinsically, safe environments, location based services (LBS) and underwater communication. Location based services is expected to hold the largest revenue share in the global li-fi market owing to the enhanced shopping experience of consumers by providing precise location information. Healthcare application is expected to rise significantly during the forecast period due to the nonappearance of electromagnetic radiation such as radio waves that pose no harm to patients. The Li Fi technology also improves management function as it facilitates sharing of patient data through different departments at very high speed.
The major market players of the global Li-Fi market are:
- PHILIPS
- PANASONIC
- GENERAL ELECTRIC
- LVX SYSTEMS
- LIGHTBEE CORP.
- OTHERS
Detailed analysis of these companies provided in this report comprises of overview, SCOT analysis, product portfolio, strategic initiative and strategic analysis.
These companies use various strategies such as mergers & acquisitions, collaboration, partnership and product launching. Example: On 12th May, 2015, General Electric (GE) announced collaborations with Qualcomm and Apple, pursuing a path of digital technology and recognizing the growing desire for multifunction LEDs to reinvigorate its 130 year old lighting business.
Why to buy the report:
This report will:
- Provide you the business strategies adopted by market player such as collaboration as on 12th May, 2015, General Electric (GE) announced collaborations with Qualcomm and Apple.
- Provide in detail the different segments such as component and application which affect the global Li-Fi market.
- Provide you the patent analysis of global Li-Fi market.
- Identify and understand the strengths, opportunities, challenges and threat of global Li-Fi market.
- Provide revenues of major players of the market such as General electric, Phillips.
- Provide you the various regulatory policies which affect the global Li-Fi market.
How we are different from others:
At Occams we provide an extensive portfolio which is comprehensive market analysis along with the market size, market share, and market segmentations. Our report on global Li-Fi market offers the longest chain of market segmentation covering major market segmentation based on application and component. The report tracks the major market trends in the global Li-fi market such as growing demand across various application, increasing data traffic across the world and so on. For each market segments covered in global Li-Fi market report, we provide opportunity matrix, and DROC analysis, that enables the clear growth assessment across each market segment. The report discusses competitive landscape of the Li-Fi industry, with giving extensive strategy analysis of more than 15 companies. Moreover, the report discusses various models such as 360 degree analysis, See Saw analysis, and Porter five force model and so on. For the high level analysis in the report we provide a comparative analysis of historic and current year data.
Key findings of the global Li-Fi market.
- North America had the largest revenue share in 2016.
- Collaboration is the key strategy adopted by the various market players of global Li-Fi market.
- Photo detectors is the major sub segment of component
