Global Light Fidelity (LiFi) Market Analysis, Drivers, Restraints, Opportunities, Threats, Trends, Applications, and Growth Forecast to 2027

MarketResearch.biz delivers in-depth insights on the global light fidelity market in its upcoming report titled, “Global Light Fidelity Market Trends, Applications, Analysis, Growth, and Forecast: 2017 to 2027”. The global light fidelity market is estimated to register a CAGR of X.X% in terms of value during forecast period 2017–2027. The report offers in-depth insights, revenue details, and other vital information regarding the target market, and the various trends, drivers, restraints, opportunities, and threats till 2027. The report offers insightful and detailed information regarding the various key players operating in the market, their financials, supply chain trends, technological innovations, key developments, apart from future strategies, acquisitions & mergers, and market footprint. The global light fidelity market report has been segmented on the basis of components, industry vertical, and region.

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This report is based on synthesis, analysis, and interpretation of information gathered regarding the target market from various sources. Our analysts have analyzed the information and data and gained insights using a mix of primary and secondary research efforts with the primary objective to provide a holistic view of the market. In addition, an in-house study has been made of the global economic conditions and other economic indicators and factors to assess their respective impact on the market historically, as well as the current impact in order to make informed forecasts about the scenarios in future.

Light Fidelity is a wireless communication technology, also known as LiFi or Visible Light Communication (VLC). LiFi uses Light emitting diode (LED) for transmitting data and for faster internet connectivity. In LiFi, high speed technology is used such as infrared (IF), visible light or UV spectrum light for communication purpose. LiFi solves the problem of insufficient bandwidth of radio frequency over the Wi-Fi which is resulting in the transmission of the high data is possible. Light Fidelity can be applied in radio frequency restricted areas and electromagnetic waves restricted areas such as hospitals, vehicle to vehicle (V2V), spacecraft, military applications, etc.

Rising demand for wireless internet connection and increasing requirement for secure, high speed data transmission technology with minimal interference, are major factors driving the growth of the global LiFi market. Increasing use of LED lights in LiFi, owing to its low cost, easy availability, less energy consumption and longer life span are boosting the growth of the global LiFi market.

Increasing government initiatives and support to LED manufacturing companies which helps with adoption of LiFi as a transmission technology, is another factor expected to propel the growth of the target market. Light fidelity technology has a low installation cost and requires low maintenance, also propel the growth of the global market especially in developing countries over the forecast period.

However, lack of awareness owing to benefits associated with the use of LiFi among individuals and limitations of LiFi technology such lessor or inactivity in the dark, may hamper the demand of the LiFi and restrain the growth of the global light fidelity market.

Development and adoption of light fidelity on the large scale and promotional activities using social platforms, advertisements to increase awareness regarding LiFi technology can create higher revenue opportunities for players in the target market.

The North America accounts for the largest market share in terms of revenue and is expected to maintain its dominance over the forecast period, owing to increasing adoption of new technology in the region. The Asia Pacific market is anticipated to witness a fastest growth in the near future, especially in emerging economies, owing to rising usage of new electronic technologies and increasing promotional activities in the region.

Global Light fidelity Market Segmentation:

Segmentation by component:

• Microcontrollers
• Light Emitting Diode (LED)
• Photodetectors

Segmentation by industry vertical:

• Defense and security
• Aviation and aerospace
• Electronics
• Healthcare
• Automotive
• Retail

Segmentation by region:

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa