According to IMARC Group latest report titled” Li-Fi Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026”, the market is currently witnessing strong growth. The global Li-Fi Market to grow at a CAGR of around 45% during 2021-2026. Light fidelity (Li-Fi) refers to a wireless optical networking technology that utilizes the visible light spectrum, infrared and ultraviolet radiations to transfer data at high speeds. The system operates through microcontrollers and light-emitting diodes (LEDs) that trigger the conversion of light waves into electrical signals. These signals are then collected by photodetectors that analyze the changes in light intensity as data. This technology can connect distant and remote terrains across wide areas that cannot be reached via optical fibers. As a result, this technology is extensively utilized across various industries, including automotive, healthcare, aerospace, electronics, information technology (IT) and defense.Get a sample copy of this Report: www.imarcgroup.com/li-fi-market/requestsample
Market Trends:
Rapid urbanization and the increasing construction of smart cities across the globe are primarily impelling the market growth. Furthermore, the growing adoption of big data tools, cloud computing and multi-tier data center architectures across several industries is also driving the market growth. Compared to the traditionally used substitutes, such as Wi-Fi, Li-Fi systems facilitate massive bandwidth spectrum, higher speeds and minimal network and radio interference. Additionally, the growing adoption of automated systems across residential and commercial spaces is creating lucrative opportunities for the industry players for business expansion. Numerous other factors, including the rising need for improvements in the existing technologies, rising digitalization, and extensive R&D activities, are anticipated to propel the market in the coming years.
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Competitive Landscape with Key players:
The report has also analysed the competitive landscape of the market with some of the key players being.
FSOna Networks Corp
General Electric Co.
LG Innotek
Lightpointe Communications
Lucibel
LVX System
Oledcomm
Philips
PureLi-Fi Ltd.
Semicon Light Company
Sunpartner Technologies
Wipro LLC
Li-Fi Market Segmentation:
Our report has categorized the market based on region, component, application, transmission type and end-user.
Market Breakup by Component:
LED Lamps
Optical Sensor
Microcontroller
Software
Others
Market Breakup by Application:
Indoor Networking
LBS (Location Based Services)
In-Flight Communication and Entertainment
Underwater Communication
Others
Market Breakup by Transmission Type:
Unidirectional
Bidirectional
Market Breakup by End-User:
Retail
Consumer Electronics
Automotive and Transportation
Healthcare
Defense and Security
Others
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