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Research and Markets, the world's largest market research store, published a report on, "Li-Fi Market Report by Component, Application, Transmission Type, End-User, and Region 2024-2032". According to the report, the Global Li-Fi Market size reached US $686.9 Million in 2023. Looking forward, the publisher expects the market to reach US $22,139.4 Million by 2032, exhibiting a growth rate (CAGR) of 47.1% during 2023-2032.
Light fidelity (Li-Fi), or visible light communication (VLC), refers to a wireless optical networking technology that utilizes light to transfer data at high speeds. It uses the visible light spectrum, ultraviolet (UV) and infrared radiations (IR). The system operates through light-emitting diodes (LEDs) and microcontrollers that trigger the conversion of light waves into electric signals. These signals are then received by photodetectors that interpret the changes in light intensity as data. This technology can connect remote and distant terrains across vast areas that cannot be reached through optical fibers, owing to which it finds extensive applications across various industries, including healthcare, automotive, aerospace, electronics, information technology (IT) and defense.
The primary factors driving the market growth include hyper-urbanization and the increasing construction of smart cities across the globe. Furthermore, widespread adoption of cloud computing, big data tools and multi-tier data center architectures across industries is also providing a boost to the market growth. In comparison to the traditionally used alternatives, such as Wi-Fi, Li-Fi systems offer massive bandwidth spectrum, higher speeds, enhanced data security and minimal network and radio interference. Additionally, the increasing adoption of automated systems across residential and commercial sectors is creating lucrative opportunities for the industry players for business expansion. The growing applications of indoor location-based services, such as smart car parking, smart lighting, health monitoring, logistics and shopping assistance have increased the demand for high-speed data communication systems. Other factors, including the rising need for advancements in the existing technologies, lowering prices of LED systems and extensive research and development (R&D) activities, are projected to drive the market in the upcoming years.
Key Market Segmentation:
The publisher provides an analysis of the key trends in each sub-segment of the global Li-Fi market report, along with forecasts at the global, regional and country level from 2024-2032. The report has categorized the market based on component, application, transmission type and end user.
- Breakup by Component:
- LED Lamps
- Optical Sensor
- Microcontroller
- Software
- Others
- Breakup by Application:
- Indoor Networking
- LBS (Location Based Services)
- In-Flight Communication and Entertainment
- Underwater Communication
- Others
- Breakup by Transmission Type:
- Unidirectional
- Bidirectional
- Breakup by End-User:
- Retail
- Consumer Electronics
- Automotive and Transportation
- Healthcare
- Defense and Security
- Others
- Breakup by Region:
- North America
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Indonesia
- Others
- Europe
- Germany
- France
- United Kingdom
- Italy
- Spain
- Russia
- Others
- Latin America
- Middle East and Africa
Competitive Landscape:
The competitive landscape of the industry has also been examined with some of the key players being
Click here to read the report titled, 'Li-Fi Market Report by Component, Application, Transmission Type, End-User, and Region 2024-2032'.
