\ Global Li-Fi Market is expected to reach approx. USD 15 billion with CAGR of 56% by 2023
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Global Li-Fi Market is expected to reach approx. USD 15 billion with CAGR of 56% by 2023

By Herald Keeper

By Market Research Future

Exclusive Summery About Latest Report on Li-Fi Market Global Analysis & 2023 Forecast Research Study

The global Visible Light Communication (Li-Fi) market is expected to grow over the forecast period. The factors contributing to the growth of the visible light communication (Li-Fi) market are increasing adoption of various communication technology, increase in the number of internet users and growing demand for data traffic in various developed nations.

Furthermore, the increasing demand for secure, fast and reliable network is boosting the growth of the of Li-Fi industry. Also, the increasing spectrum crisis has increased the data usage and has also helped the network providers to switch towards high efficiency.

Need of high speed data transmission, data security, impending RF spectrum crunch, and several technological superiorities over Wi-Fi technology majorly drives the visible light communication market.


LiFi can be explained as a wireless optical networking technology that uses light-emitting diodes (LEDs) for data transmission. The system is designed to use LED bulbs so that energy can be saved. However, the bulbs are outfitted with a chip that modulates the light for optical data transmission. The data is transmitted by the LED bulbs and in return received by photoreceptors. Previously, the early developmental models were capable of 150 megabits-per-second.

The global visible light communication (Li-Fi) market is expected to reach approximately USD 15 billion by the end of 2023 with 56% CAGR during forecast period 2017-2023.

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Global Li-Fi Market competition by top manufacturers, with production, price, revenue (value) and market share for each manufacturer; the top players including

  • General Electric Co. (U.S.),
  • ByteLight, Inc. (U.S.),
  • Panasonic Corp. (Japan),
  • pureLiFi Ltd. (U.K.),
  • LightPointe Communications, Inc. (U.S.),
  • Plaintree Systems Inc. (Canada),
  • Fsona Systems Corporation (U.K.),
  • Trimble Hungary Kft. (Hungary),
  • Outstanding Technology Corp. (Japan),
  • IBSENtelecom (Norway)

Regional Analysis-

Regionally, North-America accounted for the largest market share from countries such U.S. among others. The reason is attributed to the increasing investments for these technological solutions, adoption of these thermal management solutions by various domains and low operational cost.

U.S. Li-Fi market share is projected to grow significant pace from 2016 to 2023. The European industry is an early adopter, characterized by considerable research and product development initiatives. High demand for wireless communications across sectors where Wi-Fi cannot be employed will drive growth over the forecast timeframe.

North America dominated the market in 2015 by accounting for around 40% of the total market revenue and it is expected to maintain its dominance throughout the forecast period. This is accredited due to the presence of various research and development facilities in the region and investment for implementation of this technology by the major companies in the region. Whereas, APAC is expected to grow with a highest CAGR during the end of the forecasted period.

Intended Audience

  • Device manufacturers
  • Network Operators
  • Distributors
  • Suppliers
  • Research firms
  • Software Developers
  • Commercial Banks
  • Vendors
  • Semiconductor Manufacturers
  • End-user sectors
  • Technology Investors

For Detailed Reading Please visit MRFR Reports @ https://www.marketresearchfuture.com/reports/visible-light-communication-li-fi-market-3561

Segments

For the purpose of this study, Market Research Future has segmented the visible light communication (Li-Fi) market of into component, application and region.

Applications-

  • LED
  • Optical Sensing
  • Micro controller
  • Photo detector
  • Others

Component-

  • LED
  • Optical Sensing
  • Micro controller
  • Photo detector
  • Others

End-Users

  • Automotive
  • Indoor Networking
  • Aerospace & Defense
  • Healthcare
  • Underwater communication
  • Retail
  • Consumer Electronics
  • Transportation
  • Others

Region

  • North-America
  • Europe
  • Asia-Pacific
  • RoW

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About Market Research Future:

At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.

MRFR team have supreme objective to provide the optimum quality market research and intelligence services to our clients. Our market research studies by products, services, technologies, applications, end users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help to answer all their most important questions.

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The post Global Li-Fi Market is expected to reach approx. USD 15 billion with CAGR of 56% by 2023 by Market Research Future appeared first on Herald Keeper.

Related Keywords:Li-Fi Market

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