The light fidelity (li-fi)/visible light communication market size is expected to see exponential growth in the next few years. It will grow to $12993.59 billion in 2028 at a compound annual growth rate (CAGR) of 118.8%. The growth in the forecast period can be attributed to 5g integration and coexistence, smart city initiatives, increased connectivity in retail and hospitality, healthcare communication solutions, educational institutions and workplace deployments. Major trends in the forecast period include integration with 5g networks, li-fi in healthcare, li-fi in retail and indoor navigation, li-fi for secure communication, li-fi in automotive connectivity, li-fi for sustainable connectivity.
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Segmentation & Regional Insights
The light fidelity (li-fi)/visible light communication market covered in this report is segmented –
1) By Component: LED, Photodetectors, Microcontrollers (MCU)
2) By Transmission Type: Unidirectional, Bidirectional
3) By Application: Indoor Networking, LBS (Location Based Services), In-Flight Communication and Entertainment, Underwater Communication, Other Applications
4) By Industry Vertical: Retail, Electronics, Defense and Security, Automotive and Transport, Aerospace and Aviation, Healthcare, Other Industry Verticals
North America was the largest region in light fidelity (Li-Fi) /visible light communication in 2023. Asia-Pacific is expected to be the fastest-growing region in the light fidelity Li-Fi visible light communication market report during the forecast period. The regions covered in the light fidelity (li-fi)/visible light communication market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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Major Driver Impacting Market Growth
Increasing concern over cyber security is expected to propel the growth of the light fidelity (Li-Fi)/visible light communication market going forward. Cyber security refers to the practice of defending computers, servers, mobile devices, electronic systems, networks, and data from malicious attacks. Li-Fi, which is using visible light for the transmission of data, is considered to be more secure than its predecessor, as security has been built into the channel itself, as a result, increasing concerns over cybersecurity increase the demand for (Li-Fi)/visible light communication market. For instance, in 2021, according to the Federal Bureau of Investigation’s Internet Crime Report, a US-based federal agency for investigating cyber-attacks and intrusions, in the USA, complaints registered under cybercrimes reached a total of 84.7k cases, showing an increase of 7% from 2020. Therefore, the increasing concern over cyber security is driving the light fidelity (Li-Fi)/visible light communication market.
Key Industry Players
Major companies operating in the light fidelity (Li-Fi)/visible light communication market is focused on developing new technological solutions such as light antenna modules that could enable Li-Fi connectivity in connected devices. A light antenna module is an optoelectrical antenna designed to integrate like a traditional RF antenna and enable Li-Fi (light fidelity) in connected devices and smartphones. For instance, in February 2023, pureLiFi Ltd., a UK-based telecommunications equipment company, launched a light antenna module. The module will be compliant with the upcoming IEEE 802.11bb Light Communication standard, which is in its final stages of ratification. The company aims to make Li-Fi connectivity available at scale to device manufacturers.
The light fidelity (li-fi)/visible light communication market report table of contents includes:
1. Executive Summary
2. Light Fidelity (Li-Fi)/Visible Light Communication Market Characteristics
3. Light Fidelity (Li-Fi)/Visible Light Communication Market Trends And Strategies
4. Light Fidelity (Li-Fi)/Visible Light Communication Market – Macro Economic Scenario
5. Global Light Fidelity (Li-Fi)/Visible Light Communication Market Size and Growth
……………………
31. Global Light Fidelity (Li-Fi)/Visible Light Communication Market Competitive Benchmarking
32. Global Light Fidelity (Li-Fi)/Visible Light Communication Market Competitive Dashboard
33. Key Mergers And Acquisitions In The Light Fidelity (Li-Fi)/Visible Light Communication Market
34. Light Fidelity (Li-Fi)/Visible Light Communication Market Future Outlook and Potential Analysis
35. Appendix
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