Global Statistics Representing Light Fidelity (Li-Fi) Devices Market Scenario
Light Fidelity (Li-Fi) is a technology that utilizes light to transmit data for wireless communication between devices. Presently, light fidelity (Li-Fi) technology used light emitting diodes (LEDs) for data transmission. Li-Fi bulbs are outfitted with the chip that uses light for optical data transmission and data is transmitted by the LED bulb and then received by the photoreceptors. Li-Fi is an emerging technology that could enable a greater area of coverage than a single WiFi router. Li-Fi devices convert the beam of light into an electrical signal and send the data using invisible light. These devices are high speed, bi-directional and fully networked light communication devices. Signify Holding (Philips Lighting) is the first major global lighting company to offer LiFi-enable luminaires from its existing office lighting portfolio. Its office luminaires enabled with LiFi technology provide a broadband connection with a speed of 30 Mb per second (Mb/s).
Li-Fi devices offer a range of applications such as in aircraft cabins, RF restricted environments, underwater communications, operation theaters in hospitals, sensitive power plant areas, and others. Li-Fi is an advanced technology, and growing demand for high-speed data transfer and data security is expected to drive the demand for Li-Fi devices in the near future. Also, increasing adoption of LED due to benefits such as long-life span, high efficiency, and low maintenance and the fact that Li-Fi technology can be used in EMI-challenged environments are expected to further fuel market growth. However, limited range of communication and lack of awareness regarding the technology may hinder the growth of the light fidelity (Li-Fi) devices 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 can be segmented into tracker, modem, dongle, and others.
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 for the global light fidelity (Li-Fi) devices market. As the region has well-established infrastructure, the implementation of advanced technology is easy and provides better connectivity, which drives market growth in the region. New product launches and innovation in the Li-Fi field are expected to boost the growth of the light fidelity (Li-Fi) devices market in the region. For instance, in January 2018, VLNComm, a U.S. company focusing on the development of bi-directional Li-Fi, developed the fastest, most affordable and most innovative Li-Fi LED lighting panel in the industry. Li-Fi-enabled LumiNex panel is capable of 108Mbps download speeds, and when coupled with the LumiStick 2, it has an upload speed of 53Mbps. Its coverage is 516 square feet, and it supports 15 users simultaneously, all through the use of industry standard white LEDs.
Europe holds the second largest share in the global light fidelity (Li-Fi) devices market. The high demand for wireless communication from sectors where Wi-Fi cannot be employed is driving the demand for Li-Fi devices in the market.
Asia Pacific is witnessing significant growth in the global Li-Fi devices market. Demand for internet connectivity, coupled with poor radio communication infrastructure in rural areas of developing countries such as India, and China, is expected to accelerate the demand for Li-Fi devices in the region. In the near future, due to increasing investments and partnerships formed by Li-Fi providers, the light fidelity (Li-Fi) devices market is projected to grow at a rapid pace in Asia Pacific. On the other hand, Latin America and Middle East & Africa account for the least share in the global light fidelity (Li-Fi) devices market.
Some of the key players operating 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.
Light Fidelity (Li-Fi) Devices Market Segmentation
Why Buy This Report?
Increasing demand for 3G and 4G technology is slated to drive growth of the global light fidelity (Li-Fi) devices market. Growing trend of smart buildings, smart cities and significant growth prospects in the IoT market are expected to present high profitability avenues in light fidelity (Li-Fi) devices market. Various companies around the globe are investing in innovative Li-Fi devices.
This report offers key insights pertaining to the light fidelity (Li-Fi) devices market with emphasis on recent developments across geographies and development strategies adopted by prominent market participants. The following sections have specifically been covered in the report.