Li-Fi Market Overview:
A study conducted by the International Institute for Applied System Analysis (IIASA) on global internet usage found that, in a day, 8.8 billion YouTube videos are watched, 4.2 billion Google searches are conducted, 207 billion emails are sent and 152 million Skype calls are made. In light of warnings from the U.S. Federal Communications Commission, regarding the radio frequency spectrum crunch, the Li-Fi market is leveraging the demand for an alternate form of connectivity. Light fidelity (Li-Fi) is an optical wireless communications (OWC) technology, which employs visible light communications (VLC) systems that use light-emitting diodes (LEDs) for transmitting data. Numerous benefits such as increased speed of data transmission, nil electromagnetic interference and enhanced data security led to the global Li-Fi market size attaining a valuation of $4.2 billion in 2018. Li-Fi’s ability to act as an absolute substitute to W-Fi has led to numerous installations in areas sensitive to electromagnetic radiation such as hospitals, power plants and air crafts. The global Li-FI market is estimated to grow at a CAGR of 74.6% during the forecast period 2019-2025.
Li-Fi Market Outlook:
North America, which has prominently taken the lead on various technological developments such as smart homes, smart cities, Internet of Things (IoT), big data and consumer electronics; has emerged as the nucleus for Li-Fi market demand. With majority of the global smart homes, intelligent transport systems and green buildings developing in the U.S., North America was responsible for 49.73% of the global Li-Fi market demand in 2018.
Unlike Wi-Fi, which uses radio frequency for establishing a connection, Li-Fi operates via a visible light spectrum, which makes it a safer option for essential connectivity in hospitals, air crafts and volatile fields of various industries, where radio frequency is prohibited. Facilities such as petrochemical plants, oil and gas stations, and hospitals, are, thus, emerging as the fastest growing end-user segment of the Li-Fi market. This particular segment is expected to grow at a CAGR of 76.23% going through 2025.
Li-Fi Market Growth Drivers and Trends:
· Spectrum Crunch Adding Impetus -As digitalization multiplies the number of connected devices, radio frequency spectrums are experiencing a crunch owing to their limited size, which is impacting the quality of service. On the other hand, Li-Fi technology employs a visible light spectrum for data transmission which is devoid of any limitations in terms of size. Hence, the impending RF crunch is a major driver for the Li-Fi market demand.
· Inexpensive LEDs Ballooning Implementation-As a fundamental constituent of Li-Fi systems, LED plays a vital character in the overall growth of the Li-Fi market. LED is being endorsed globally owing to characteristics like low power consumption, a lack of harmful emissions, and enhanced illumination. Moving towards the goal of ‘low carbon economy’ and ‘smart cities’, governments in various nations are providing subsidized pricing for LED bulbs to increase the rate of application. Such developments are increasing the range of potential customers for Li-Fi systems.
· Vehicle-to-vehicle communication, using Li-Fi technology, is another major trend disrupting the market. Aside of vehicles, these systems are also being installed in street lights and traffic lights to foster an ecosystem of intelligent transport communication. In this era of increasing road casualties, Li-Fi enabled lighting can add a supplementary layer of security through real-time communication during transit.
· Emerging markets such as India and China are rapidly developing enhanced IT infrastructure, aided by government programs such as the ‘Digital India’ scheme, which is laying a groundwork for the Li-Fi market to fruitfully exploit. PureLifi Ltd., a global leader in Li-Fi technology, partnered with Wipro Lighting Ltd, in September 2017, to drive adoption of Li-Fi in densely populated Asian economies.
Li-Fi Market Players Perspective:
Some of the key players operating in the global Li-Fi market are PureLi-Fi Ltd., Lucibel, Oledcomm, Sunpartner Technologies, LG Innotek Co.,Ltd, Yuyang D & U Co.,Ltd., Semicon Light Co.,Ltd., Wipro,LLC, Lightpointe Communications, Inc., FSOna Networks Corp and Bridgelux,Inc.
Li-Fi Market Research Scope
The base year of the study is 2018, with forecast done up to 2025. The study presents a thorough analysis of the competitive landscape, taking into account the market shares of the leading companies. It also provides information on unit shipments. These provide the key market participants with the necessary business intelligence and help them understand the future of the Li-Fi Market. The assessment includes the forecast, an overview of the competitive structure, the market shares of the competitors, as well as the market trends, market demands, market drivers, market challenges, and product analysis. The market drivers and restraints have been assessed to fathom their impact over the forecast period. This report further identifies the key opportunities for growth while also detailing the key challenges and possible threats. The key areas of focus include the various types of innovations in global Li-Fi Market, and their specific advantages to the market.
The Li-Fi Market report also analyzes the major geographic regions for the market as well as the major countries for the market in these regions. The regions and countries covered in the study include:
• North America: The U.S., Canada, Mexico
• South America: Brazil, Venezuela, Argentina, Ecuador, Peru, Colombia, Costa Rica
• Europe: The U.K., Germany, Italy, France, The Netherlands, Belgium, Spain, Denmark
• APAC: China, Japan, Australia, South Korea, India, Taiwan, Malaysia, Hong Kong
• Middle East and Africa: Israel, South Africa, Saudi Arabia
Key Questions Addressed in the Li-Fi Market Report
1. Is the market for Li-Fi growing? How long will it continue to grow and at what rate?
2. Which type of segment presents the major growth opportunities?
3. Is there a possibility for change in the market structure over time?
4. Are additional developments needed for the existing product or services offerings or do the existing products meet the customer demands?
5. Do the key vendors look for partnerships to expand their businesses with respect to geography or product?
6. What are the short-term, long-term, and medium-term growth drivers for the market?
7. What are the short-term, medium-term, and long-term challenges for the market?
8. What are the short-term, medium-term, and long-term opportunities for the market
9. Who are the top players/companies of the market?
10. What are the recent innovations in the market?
11. How many patents have been filed by the leading players?
12. What are the types of patents filed by the leading players?
13. What is our Vision 2030 Li-Fi Market?
A few focus points of this Research are given below:
• Give a deep-dive analysis of the key operational strategies with focus on the corporate structure, R&D strategies, localization strategies, production capabilities, and sales performance of various companies
• Provide an overview of the product portfolio, including product planning, development, and positioning
• Discuss the role of technology companies in partnerships
• Explore the regional sales activities
• Analyze the market size and giving the forecast for current and future Li-Fi during the forecast 2019–2025