Increasing demand for 3G and 4G technology and looming RF spectrum crunch are key drivers of global Li-Fi technology market. Wi-Fi will soon be replaced by Li-Fi where the former is prohibited in areas such as hospitals, power plants, air crafts where the interference of electromagnetic waves is of a great concern. Significant LED framework pulled by reduction in prices, energy efficiency and high number of installations across residential areas as well as public places will be favorable to global Li-Fi market. High security compared to traditional Wi-Fi which uses radio frequency since light cannot travel through walls can be a constraining driver for Li-Fi technology adoption.
What is a Li-Fi?
Li-Fi is OWC (Optical Wireless Communications) technology that uses light-emitting diodes (LEDs) for transmitting data. The OWC has infrared, UV and visible light Li-Fi uses multiple LED bulbs as hotspots which use chip that modulates the light for optical data transmission. By using LI-Fi enabled lights in and around a house, the technology could cover a large area than the area covered by a single Wi-Fi router. Li-Fi is better than Wi-Fi in terms of speed as radio frequency used in Wi-Fi is of order 5GHz where Li-Fi uses visible light at a frequency of 500 THz.
What are the applications of Li-Fi?
There are wide range of applications of Li-Fi technology from a residential building to aircraft. Its applications can be extended in areas where the usage of Wi-Fi is prohibited considering the safety and security of people and equipment. Since Li-Fi uses visible light which is considered safe can be used in such places. In coming years all the LED lamps including street lamps can be used as hotspots to transmit data. This way data can be transmitted from any place without the intervention of connectivity problems. It also various applications in disaster management, underwater application, medical application where the radio frequency cannot penetrate.
Market Research and Market Trends of Li-Fi Technology Market
- Li-Fi technology being a new disruptive innovation is soon to grab the portion of Wi-Fi market commercially exhibiting growth at a robust pace. The increase in installation of LED lamps from residential buildings to public places has led to the creation of new prototypes which transmit data using visible light as a source.
- Areas which are sensitive to radio frequency passage will be the most concentrated areas for the Li-Fi technology industry to focus on. This will gradually lead to an opportunity for the Li-Fi market to occupy Wi-Fi set areas.
- Growing number of players in this sector will lead to fragmentation of the market leading to healthy competition among investors, manufacturers and service providers.
Who are the Major Players Li-Fi Technology in Market?
The companies referred to in the market research report includes PureLi-Fi Ltd., Lucibel, Oledcomm, Sunpartner Technologies, LG Innotek Co.,Ltd, Yuyang D & U Co.,Ltd., Semicon Light Co.,Ltd., Wipro,LLC, Lightpointe Communications, Inc., FSOna Networks Corp., Bridgelux,Inc and other companies are profiled in the report.
What is Our Research Scope?
The report contains in-depth assessment of the competitive analysis of Li-Fi market, Li-Fi Technology market sizing, benchmarking, market landscape, market trends, technology advancements in s industry, financial analysis, strategic analysis and so on to gauge the market forces and hidden opportunities of the market. Excepting this the report also includes a study of major advancements in Li-Fi Technology market such as technology innovations, agreements, acquisitions, collaborations, mergers and so on to comprehend the prevailing current market dynamics and its impact during the future forecast period. The report also comprises information about how the latest technology advancements improved customer as well as stakeholder satisfaction.
Key Takeaways from this Report
- Evaluate market potential through analyzing growth rates (CAGR %), Volume (Units) and Value ($M) data given at country level – for product types, end use applications and by different industry verticals.
- Understand the different dynamics influencing the market – key driving factors, challenges and hidden opportunities.
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- Analyze the sales and distribution channels across key geographies to improve top-line revenues.
- Understand the industry supply chain with a deep-dive on the value augmentation at each step, in order to optimize value and bring efficiencies in your processes.
- Get a quick outlook on the market entropy – M&A’s, deals, partnerships, product launches of all key players for the past 4 years.
- Evaluate the supply-demand gaps, import-export statistics and regulatory landscape for more than top 20 countries globally for the market.