Light Fidelity (Li-Fi) is a wireless optical networking technology that uses light emitting diodes for data transmission. Li-Fi devices are connected to the internet using power line communication. Li-Fi is an upcoming technology similar to Wi-Fi, which offers a speed of 224 gigabytes per second, i.e. 100 times faster than Wi-Fi. Li-Fi devices’ signals are not subject to electromagnetic interference, and they can be used in airplanes, hospitals, and underwater. Benefits of Li-Fi devices, such as low power consumption and high durability, have been driving market growth, globally.
On the basis of region, the global light fidelity (Li-Fi) devices market has been segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.
North America holds the largest share in the global Li-Fi devices market, followed by Europe and Asia Pacific. In North America, the trend for smart buildings and smart cities is rising. According to Consumer Technology Association, the U.S. holds the largest share in the smart city market with investments of over USD 23 billion (2018) on building smart cities. The smart city trend has significant growth prospects in the IoT market, owing to the increasing demand for Li-Fi devices in the region. Additionally, increasing demand for energy-efficient devices and high-speed communication in the region further drives the Li-Fi devices market growth.
Europe holds the second largest share in the global Li-Fi devices market. Early adoption of Li-Fi technology and presence of global leaders investing in the technology are further accelerating demand in the region.
Asia Pacific is experiencing significant growth in the global Li-Fi devices market, due to the large electronics market in developing countries such as China, Japan, and India, and supportive government initiatives that promote LED lights in these countries. Among all regions, the Latin America and the Middle East & Africa region accounts for the least share in the global Li-Fi market.
The global light fidelity (Li-Fi) devices market can be segmented on the basis of application and region. On the basis of application, the market has been segmented into the tracker, modem, dongle, and others.
Li-fi dongles are witnessing significant growth in the light fidelity (Li-Fi) devices market. The dongle comes with a lamp, which functions as a normal lamp in addition to its networking function. This lamp sends infrared light, and the dongle receives this light in order to connect a laptop or tablet to the internet. In 2018, Lucibel stepped up its technological developments in the Li-Fi field and introduced the second-generation dongle, Li-Fi Lucibel, which allows 16 simultaneous users to benefit from a secure connection. Li-Fi dongles offer higher speed than Wi-Fi, which drives the demand for this technology.
On the basis of region, the light fidelity (Li-Fi) devices market has been segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. North America, followed by Europe, holds the largest market share, globally, owing to the increasing demand for high-speed data transfer in the region.
Some of the key players in the light fidelity (Li-Fi) devices market include Signify Holding (Philips N.V.) (Netherlands), pureLiFi (UK), Oledcomm (France), Panasonic Corporation (Japan), Acuity Brands, Inc. (U.S.), Velmenni (Tartu), LightBee Corporation (U.S.), Firefly Wireless Networks, LLC (U.S.) and others.
Li-Fi is an emerging technology in the market with global leaders such as Signify Holding (Philips N.V.) investing in the light fidelity (Li-Fi) devices market. Companies such as PureLiFi and Velmenni are channelizing efforts to come up with innovative solutions, which further drives market growth. Oledcomm is a leading provider of Li-Fi devices that use LED lighting for data communication.