Light Fidelity (Li-Fi)/Visible Light Communication Global Market Report 2024

The light fidelity (li-fi)/visible light communication market size has grown exponentially in recent years. It will grow from $260.42 billion in 2023 to $567.29 billion in 2024 at a compound annual growth rate (CAGR) of 117.8%. The growth observed in the historical period can be ascribed to a rising demand for high-speed data transmission, a constrained availability of radio spectrum, concerns related to data security, the requirements for Internet of Things (IoT) connectivity, considerations for energy efficiency, and the improved transfer of data in specific environments.

The light fidelity (li-fi)/visible light communication market size is expected to see exponential growth in the next few years. It will grow to $12993.59 billion in 2028 at a compound annual growth rate (CAGR) of 118.8%. The anticipated growth in the forecast period can be linked to the integration and coexistence with 5G, initiatives for smart cities, heightened connectivity in retail and hospitality sectors, communication solutions for healthcare, and deployments in educational institutions and workplaces. Noteworthy trends expected in the forecast period encompass the integration with 5G networks, the application of Li-Fi in healthcare, its utilization in retail and indoor navigation, its role in secure communication, its involvement in automotive connectivity, and its contribution to sustainable connectivity.

The light fidelity (Li-Fi)/visible light communication market is expected to witness growth driven by increasing concerns over cybersecurity. Cybersecurity involves safeguarding computers, networks, and data from malicious attacks, and the adoption of Li-Fi, utilizing visible light for data transmission, is considered more secure due to built-in security features. In 2021, the Federal Bureau of Investigation's Internet Crime Report revealed a 7% increase in cybercrime complaints in the USA, reaching a total of 84.7k cases. This surge in cybersecurity concerns is a key factor propelling the light fidelity (Li-Fi)/visible light communication market.

The market is set to benefit from the growing need for secure communication. Using Light Fidelity (Li-Fi)/Visible Light Communication for secure communication ensures data confidentiality by transmitting information through light waves, limiting transmission to the line of sight and preventing unauthorized access. As of September 2023, the Bureau of Labor Statistics reported that 97% of employees considered communication crucial to their daily task efficacy, emphasizing the demand for secure communication tools in the workplace. Hence, the increasing need for secure communication is driving the growth of the light fidelity (Li-Fi)/visible light communication market.

Technological advancements play a significant role in shaping the light fidelity (Li-Fi)/visible light communication market. Major companies in this sector are focusing on developing innovative solutions to meet customer demands. For example, in May 2022, Signify launched Trulifi, a commercially available Li-Fi system with unique features, providing reliable and secure two-way wireless communication using a light source. This allows consumers to enjoy excellent illumination and wireless connectivity without replacing existing lighting infrastructure. The system offers wireless connectivity in large areas at speeds up to 150 Megabits per second (Mbps).

Companies in the market are concentrating on technological solutions such as light antenna modules to enable Li-Fi connectivity in connected devices. A light antenna module integrates such as a traditional RF antenna and facilitates Li-Fi in connected devices and smartphones. In February 2023, pureLiFi Ltd. launched a light antenna module compliant with the upcoming IEEE 802.11bb Light Communication standard, aiming to make Li-Fi connectivity widely available to device manufacturers.

In May 2023, Fairbanks Morse Defense partnered with pureLiFi Ltd. to deploy secure Li-Fi technology for maritime defense customers in the United States. This technology ensures secure and reliable data transmission at sea, utilizing light-based wireless connectivity that is resistant to eavesdropping or jamming attempts. The collaboration reflects the ongoing efforts to implement advanced Li-Fi solutions in critical sectors.

Major companies operating in the light fidelity (li-fi)/visible light communication market report are General Electric Company, Oledcomm SA, Renesas Electronics Corporation, PureLiFi Ltd., Lvx System GmbH, Acuity Brands Lighting Inc., IBSENtelecom Ltd., Koninklijke Philips N.V., Panasonic Holdings Corporation, Qualcomm Technologies Inc., Firefly Wireless Networks LLC, Velmenni Oy, Visilink Technologies Inc., Signify Holding B.V., VLNComm Inc., LumEfficient Inc., Plaintree Systems Inc., Casio Computer Co. Ltd., Axrtek Co. Ltd., ByteLight Inc., Lightbee Corporation, LightPointe Communications Inc., Samsung Electronics Co. Ltd., Toshiba Corporation, Air France - KLM Group, Airbus SE, Audi AG, The Boeing Company, Continental AG, Daimler AG, Delta Air Lines Inc., Emirates Airline, Etihad Airways PJSC, Ford Motor Company.

North America was the largest region in light fidelity (Li-Fi) /visible light communication in 2023. Asia-Pacific is expected to be the fastest-growing region in the light fidelity Li-Fi visible light communication market report during the forecast period. The regions covered in the light fidelity (li-fi)/visible light communication market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the light fidelity (li-fi)/visible light communication market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The key elements of light fidelity (Li-Fi) visible light communication comprise LED photodetectors and microcontrollers (MCUs). Microcontrollers denote integrated circuit (IC) devices employed to control other components of an electronic system, typically through a microprocessor unit (MPU), memory, and various peripherals. Transmission types include unidirectional and bidirectional. Applications span indoor networking, location-based services (LBS), in-flight communication and entertainment, underwater communication, and various other applications. Industry verticals involved encompass retail, electronics, defense and security, automotive and transport, aerospace and aviation, healthcare, and other sectors such as mining and chemical.

The Light Fidelity (Li-Fi)/Visible Light Communication market research report is one of a series of new reports that provides Light Fidelity (Li-Fi)/Visible Light Communication market statistics, including Light Fidelity (Li-Fi)/Visible Light Communication industry global market size, regional shares, competitors with a Light Fidelity (Li-Fi)/Visible Light Communication market share, detailed Light Fidelity (Li-Fi)/Visible Light Communication market segments, market trends and opportunities, and any further data you may need to thrive in the Light Fidelity (Li-Fi)/Visible Light Communication industry. This Light Fidelity (Li-Fi)/Visible Light Communication market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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