Industry Background:
Li-Fi (Light Fidelity) is the new technology in the field of wireless communication which uses light as medium to transmit data. Li-Fi delivers bidirectional, high speed, networked mobile communication by using light from light emitting diodes (LEDs). The applications of Li-Fi are limitless, thus this technology will be the next big thing in wireless communications.
According to AMA Research, the market for Li-Fi is expected to register a CAGR of 45.0% during the forecast period to 2027. This growth is primarily driven by Wide range of application
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Attributes | Details |
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Study Period | 2017-2027 |
Base Year | 2021 |
Forecast Period | 2022-2027 |
Volume Unit | K Units |
Value Unit | USD (M) |
Dominating Type | Li-Fi lamps (LED) |
Dominating Type % Share | 70.0% |
Customization Scope | Avail customization with purchase of this report. Add or modify country, region & or narrow down segments in the final scope subject to feasibility |
The Technology sector in the North America region has been increasing at a sustainable rate and further growth is expected to be witnessed over the forecast period, owing to the robust investments and expansion in production facilities in the region. Major Players, such as General electric (U.S.), Koninklijke Philips N.V. (Netherlands), Qualcomm (U.S.), Fujitsu (Japan), Panasonic (Japan), PureLi-Fi Ltd. (U.K.), Renesas Electronic Corp. (Japan), LVX systems (U.S.), Oledcomm (France) and Bytelight Inc. (U.S.), etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years. APAC is projected to be the fastest-growing market, expanding at a CAGR of 33.0% from 2021 to 2027.
Influencing Trend:
The lucrative incentives and subsidies offered by government for adoption of LED lightings worldwide will aid in the adoption of Li-Fi across the globe. This trend is expected to follow in coming years.
Market Growth Drivers:
Wide range of application, Environment friendly, High Efficiency, Lower operational & maintenance cost, Enhanced data security and No electromagnetic interference
Challenges:
Lack of awareness and Controlled Environment
Restraints:
Lack of awareness, and controlled environment
AMA Research follows a focused and realistic research framework that provides the ability to study the crucial market dynamics in several regions across the world. Moreover, an in-depth assessment is mainly conducted by our analysts on geographical regions to provide clients and businesses the opportunity to dominate in niche markets and expand in emerging markets across the globe. This market research study also showcases the spontaneously changing Players landscape impacting the market's growth. Furthermore, our market researchers extensively analyze the products and services offered by multiple players competing to increase their market share and presence.
Data Sources of Li-Fi Market Study
Primary Collection: InMail, LinkedIn Groups, Survey Monkey, Google, and Other professional Forums are some of the mediums utilized to gather primary data through key industry participants and appointees, subject-matter experts, C-level executives of Li-Fi Industry, among others including independent industry consultants, experts, to obtain and verify critical qualitative commentary and opinion and quantitative statistics, to assess future market prospects.
The primary interviews and data collected as per the below protocols:
By Designation: C-Level, D-Level, Others
By Company Type: Tier 1, Tier 2, Tier 3
Secondary Data Sources such as Annual reports, Press releases, Analyst meetings, Conference calls, Investor presentations, Management statements, and SEC filings of Li-Fi players along with Regulatory Sites, Association, World bank, etc were used as sources secondary set of data.
Customization in the Report
AMA Research features not only specific market forecasts but also includes significant value-added commentary on:
- Market Trends
- Technological Trends and Innovations
- Market Maturity Indicators
- Growth Drivers and Constraints
- New Entrants into the Market & Entry/Exit Barriers
- To Seize Powerful Market Opportunities
- Identify Key Business Segments, Market Proposition & Gap Analysis
Against this Challenging Backdrop, Li-Fi Study Sheds Light on
The Li-Fi Market status quo and key characteristics. To end this, Analysts at AMA organize and took surveys of the Li-Fi industry Players. The resultant snapshot serves as a basis for understanding why and how the industry can be expected to change.
Where Li-Fi industry is heading and what are the top priorities. Insights are drawn from financial analysis, surveys, and interviews with key executives and industry experts.
How every company in this diverse set of Players can best navigate the emerging competition landscape and follow a strategy that helps them position to hold the value they currently claim or capture the new addressable opportunity.