The Global li-fi Market will reach US$ 85.10 billion by 2032, up from US$ 1.04 billion in 2023, with a CAGR of 63.16% between 2024 and 2032. The Li-Fi (Light Fidelity) market is being driven by the emergence of smart cities and Internet of Things applications, as well as the growing demand for quick and secure wireless communication. Growing worries about electromagnetic interference in conventional radio-frequency communication and the development of LED technology are further factors. Li-Fi usage and market expansion are further fueled by increased investments in research & development as well as the need for improved connectivity and data security.
Hyper-urbanization and the growing number of smart city projects being built worldwide are the main factors propelling the market's expansion. Additionally, the industry's broad adoption of multi-tier data center architectures, big data tools, and cloud computing is driving the market's expansion. Li-Fi systems provide huge bandwidth spectrum, greater speeds, improved data security, and reduced network and radio interference when compared to the conventionally utilized alternatives, such as Wi-Fi. Furthermore, as automated systems become more widely used in both the residential and commercial sectors, industry participants will have plenty of opportunity to grow their businesses.
The attractiveness of Li-Fi lies in its capacity to handle dense networks and deliver high-speed internet without interference from radio frequency signals. Furthermore, because Li-Fi uses light, which is impervious to walls, it has improved security capabilities that are especially helpful for protecting critical IoT data. Using Li-Fi technology can help the Internet of Things (IoT) overcome issues with electromagnetic interference and network congestion as it expands, resulting in more secure and effective data transfer. Li-Fi's adoption and market growth are being fueled by this match between its capabilities and the changing demands of IoT networks.
Moreover, continuous research and development endeavors are investigating methods to surmount current constraints, such line-of-sight prerequisites and ambient light disruption, thereby augmenting Li-Fi's pragmatic feasibility. Li-Fi solutions are becoming more inventive, more generally used, and more well-established in the market as technology advances. These factors position Li-Fi to play a big role in wireless communication in the future.
Additionally, in an effort to strengthen the American industrial base - which has been supplanted by China and other nations with lower labor costs - the federal government and the commercial sector in the United States are investing in Industry 4.0 IoT technologies. The ""Advanced Manufacturing Partnership (AMP)"" is a federal government, business, and university effort aimed at encouraging investment in developing automation technology. The Canadian government claims that the nation's auto suppliers are essential to the country's automotive industry, which generates over USD 34 billion in sales a year, and that they export parts all over the world. Among the manufacturing industries in the nation, the production of automobiles has been one of the main sources of income.
July 2023- The IEEE 802.11 bb global light communications standard was released, which was a big deal for the wireless communications sector and was welcomed by pureLiFi and Fraunhofer HHI. This standard offers a widely accepted foundation for implementing LiFi technology, together with the well-established IEEE 802.11 WiFi standards.
2. Photodetector
3. Microcontrollers
4. Others
2. Retail
3. Education
4. Aerospace & Defense
5. Automotive
6. Transportation
7. Government
8. Others
1.1 United States
1.2 Canada
2. Europe
2.1 France
2.2 Germany
2.3 Italy
2.4 Spain
2.5 United Kingdom
2.6 Belgium
2.7 Netherland
2.8 Turkey
3. Asia Pacific
3.1 China
3.2 Japan
3.3 India
3.4 Australia
3.5 South Korea
3.6 Thailand
3.7 Malaysia
3.8 Indonesia
3.9 New Zealand
4. Latin America
4.1 Brazil
4.2 Mexico
4.3 Argentina
5. Middle East & Africa
5.1 South Africa
5.2 Saudi Arabia
5.3 UAE
Li-fi Industry Outlooks
Visible light communication, often known as light fidelity (Li-Fi) or VLC, is a wireless optical networking technique that uses light to send data quickly. It makes use of infrared (IR), ultraviolet (UV), and visible light spectrum radiations. Light-emitting diodes (LEDs) and microcontrollers are the key components of the system that convert light waves into electrical signals. Photodetectors then receive these signals and process the variations in light intensity into data. This technology finds broad uses across many industries, including healthcare, automotive, aerospace, electronics, information technology (IT), and defense, because it can connect remote and distant terrains across huge distances that cannot be accessed using optical fibers.Hyper-urbanization and the growing number of smart city projects being built worldwide are the main factors propelling the market's expansion. Additionally, the industry's broad adoption of multi-tier data center architectures, big data tools, and cloud computing is driving the market's expansion. Li-Fi systems provide huge bandwidth spectrum, greater speeds, improved data security, and reduced network and radio interference when compared to the conventionally utilized alternatives, such as Wi-Fi. Furthermore, as automated systems become more widely used in both the residential and commercial sectors, industry participants will have plenty of opportunity to grow their businesses.
Driving Forces of Li-fi Market
Expansion of IoT
One important driver of growth for the Li-Fi industry is the proliferation of the Internet of Things (IoT). There is an increasing need for fast, dependable, and secure communication solutions as Internet of Things (IoT) devices proliferate in smart homes, industrial automation, healthcare, and other industries. Li-Fi, a data transmission technology based on visible light, has several advantages over conventional radio-frequency-based technologies such as Wi-Fi. Its capacity to manage enormous data densities and provide data at extremely rapid rates is a perfect fit for the requirements of contemporary IoT systems. IoT devices need smooth, high-bandwidth communication in order to operate at their best. They frequently produce significant volumes of data.The attractiveness of Li-Fi lies in its capacity to handle dense networks and deliver high-speed internet without interference from radio frequency signals. Furthermore, because Li-Fi uses light, which is impervious to walls, it has improved security capabilities that are especially helpful for protecting critical IoT data. Using Li-Fi technology can help the Internet of Things (IoT) overcome issues with electromagnetic interference and network congestion as it expands, resulting in more secure and effective data transfer. Li-Fi's adoption and market growth are being fueled by this match between its capabilities and the changing demands of IoT networks.
Technological Advancements
The Li-Fi market is expanding due in large part to technological advances. Recent advancements in optical components and light-emitting diode (LED) technology have greatly improved the functionality and performance of Li-Fi systems. High-speed modulation LEDs of today allow Li-Fi to achieve blazingly fast data transfer rates, giving it a competitive edge over conventional radio-frequency-based communication systems such as Wi-Fi. Li-Fi's dependability and efficiency have been increased even more by developments in photodetectors and modulation methods. Furthermore, advances in the integration and miniaturization of Li-Fi components have increased its adaptability and reduced its cost for a range of applications, including industrial and consumer devices. The ongoing development of these technologies expands Li-Fi's potential applications, which include high-density situations, smart cities, and indoor navigation, in addition to increasing its data speeds and range.Moreover, continuous research and development endeavors are investigating methods to surmount current constraints, such line-of-sight prerequisites and ambient light disruption, thereby augmenting Li-Fi's pragmatic feasibility. Li-Fi solutions are becoming more inventive, more generally used, and more well-established in the market as technology advances. These factors position Li-Fi to play a big role in wireless communication in the future.
North America Li-fi Market
Since employing radio frequencies for wi-fi operations presents an increasing number of cybersecurity threats, there is a growing demand for fast, dependable, and secure wireless networks. As of 2023, IBM reports that the average cost of a data breach in the United States was USD 9.48 million, compared to USD 9.44 million the year before. Furthermore, the area is continuously expanding in the defense sector, which could increase demand for Li-Fi technology. The U.S. Congressional Budget Office projects that defense spending in the country will rise annually through 2033. In 2023, the United States spent USD 746 billion on defense. According to the prediction, defense spending will rise to USD 1.1 trillion by 2033. The United States is an enormous customer base for providers supplying Industry 4.0 because of the country's early adoption of industrial automation, and this market is anticipated to grow significantly throughout the forecast period.Additionally, in an effort to strengthen the American industrial base - which has been supplanted by China and other nations with lower labor costs - the federal government and the commercial sector in the United States are investing in Industry 4.0 IoT technologies. The ""Advanced Manufacturing Partnership (AMP)"" is a federal government, business, and university effort aimed at encouraging investment in developing automation technology. The Canadian government claims that the nation's auto suppliers are essential to the country's automotive industry, which generates over USD 34 billion in sales a year, and that they export parts all over the world. Among the manufacturing industries in the nation, the production of automobiles has been one of the main sources of income.
Global li-fi Company Analysis
The key players in li-fi industry are Signify N.V., Panasonic Corporation, Renesas Electronics Corporation, General Electric Co., LG Innotek Co Ltd, Lucibel SA, LVX System and Lightbee Corp.Global Li-fi Company News
September 2023- As part of a recent innovation effort with Signify, a major player in the lighting industry, Getac stated that it has successfully integrated LiFi technology into its rugged products. As a member of the Light Communication Alliance (LCA), which is made up of researchers, inventors, and members of the industry, Signify and Getac believe that Optical Wireless Communication has the potential to revolutionize the way that businesses connect and communicate.July 2023- The IEEE 802.11 bb global light communications standard was released, which was a big deal for the wireless communications sector and was welcomed by pureLiFi and Fraunhofer HHI. This standard offers a widely accepted foundation for implementing LiFi technology, together with the well-established IEEE 802.11 WiFi standards.
Component - Market breakup in 4 viewpoints:
1. LED2. Photodetector
3. Microcontrollers
4. Others
End User - Market breakup in 8 viewpoints:
1. Healthcare2. Retail
3. Education
4. Aerospace & Defense
5. Automotive
6. Transportation
7. Government
8. Others
Countries - Market breakup in 25 viewpoints:
1. North America1.1 United States
1.2 Canada
2. Europe
2.1 France
2.2 Germany
2.3 Italy
2.4 Spain
2.5 United Kingdom
2.6 Belgium
2.7 Netherland
2.8 Turkey
3. Asia Pacific
3.1 China
3.2 Japan
3.3 India
3.4 Australia
3.5 South Korea
3.6 Thailand
3.7 Malaysia
3.8 Indonesia
3.9 New Zealand
4. Latin America
4.1 Brazil
4.2 Mexico
4.3 Argentina
5. Middle East & Africa
5.1 South Africa
5.2 Saudi Arabia
5.3 UAE
Key players have been covered from 4 Viewpoints:
- Business Overview
- Key Persons
- Recent Development & Strategies
- Financial Insights
Key Players Analysis:
- Signify N.V.
- Panasonic Corporation
- Renesas Electronics Corporation
- General Electric Co.
- LG Innotek Co Ltd
- Lucibel SA
- LVX System
- Lightbee Corp
Table of Contents
1. Introduction2. Research Methodology3. Executive Summary5. Li-Fi Market
4. Market Dynamics
6. Market Share Analysis
7. Component
8. End User
9. Countries
10. Porter’s Five Forces Analysis
11. SWOT Analysis
12. Key Players Analysis
Companies Mentioned
- Signify N.V.
- Panasonic Corporation
- Renesas Electronics Corporation
- General Electric Co.
- LG Innotek Co Ltd
- Lucibel SA
- LVX System
- Lightbee Corp
Methodology
In this report, for analyzing the future trends for the studied market during the forecast period, the publisher has incorporated rigorous statistical and econometric methods, further scrutinized by secondary, primary sources and by in-house experts, supported through their extensive data intelligence repository. The market is studied holistically from both demand and supply-side perspectives. This is carried out to analyze both end-user and producer behavior patterns, in the review period, which affects price, demand and consumption trends. As the study demands to analyze the long-term nature of the market, the identification of factors influencing the market is based on the fundamentality of the study market.
Through secondary and primary researches, which largely include interviews with industry participants, reliable statistics, and regional intelligence, are identified and are transformed to quantitative data through data extraction, and further applied for inferential purposes. The publisher's in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. These analytical tools and models sanitize the data & statistics and enhance the accuracy of their recommendations and advice.
Primary Research
The primary purpose of this phase is to extract qualitative information regarding the market from the key industry leaders. The primary research efforts include reaching out to participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions. The publisher also established professional corporate relations with various companies that allow us greater flexibility for reaching out to industry participants and commentators for interviews and discussions, fulfilling the following functions:
- Validates and improves the data quality and strengthens research proceeds
- Further develop the analyst team’s market understanding and expertise
- Supplies authentic information about market size, share, growth, and forecast
The researcher's primary research interview and discussion panels are typically composed of the most experienced industry members. These participants include, however, are not limited to:
- Chief executives and VPs of leading corporations specific to the industry
- Product and sales managers or country heads; channel partners and top level distributors; banking, investment, and valuation experts
- Key opinion leaders (KOLs)
Secondary Research
The publisher refers to a broad array of industry sources for their secondary research, which typically includes, however, is not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Patent and regulatory databases for understanding of technical & legal developments
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic new articles, webcasts, and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecasts
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 200 |
| Published | October 2024 |
| Forecast Period | 2023 - 2032 |
| Estimated Market Value ( USD | $ 1.04 Million |
| Forecasted Market Value ( USD | $ 85.1 Million |
| Compound Annual Growth Rate | 63.1% |
| Regions Covered | Global |
| No. of Companies Mentioned | 8 |
