Light Fidelity (Li-Fi) Market Size, Competitive Strategies and Forecasts, 2016 to 2024
The global light fidelity (Li-Fi) market is expected to witness substantial growth over the forecast period on account of the increasing adoption of communication technology and a number of internet users.
(firmenpresse) - The global light fidelity (Li-Fi) market was valued at around USD 455 million in 2015. It is expected to grow beyond USD 101 billion during the forecast period (2016- 2024).
Light fidelity is a visible light communication (VLC) system. This system runs high speed wireless communications. Li-Fi uses common household LED light bulbs to transfer data boosting speed up to 224 gb (gigabits) per second.
Increasing need for eco-friendly technology is expected to drive the market. Moreover, longer life, low power consumption, and high illumination are expected to augment market growth in the coming years. Government promotion for these lights is expected to boost market growth till 2024. The light fidelity market is split into components, application, and geographies.
Li-Fi components include LED, photo-detector, and microcontroller. LED based light-fidelity devices held over 40% of the market share in 2015.
These LED lights can be controlled to switch on and off to generate a digital string of binary numbers. Moreover, it can also change colors to red, green, and blue.
Photo-detectors, accounted for over 30% of market revenue in 2015. Microcontroller segment was valued at more than USD 95 million that year.
On the basis of application, the industry is split into automotive & transportation, consumer electronics, defense & security and aviation, healthcare, and retail. Retail sector held market shares surpassing 30% in 2015.
The automotive & transport segment is anticipated to witness a CAGR of over 80%. This segment is expected to grow at the fastest rate. Technological advancements and communication machinery of cars is expected to increase adoption of these lights in traffic and car lights.
Geographies comprise of North America, Latin America, Asia Pacific, Europe, and the Middle East & Africa (MEA). North America light fidelity industry accounted for more than 40% of the global market share, in 2015. This region is expected to grow at a CAGR of around 76% during the forecast period.
Europe has established the infrastructure of Li-Fi communication systems and is expected to show positional growth in the region. This will create a large platform for market growth in the coming years.
The light fidelity market in Asia Pacific was valued at over USD 95 million in 2015. It will witness a significant growth of around 30% by 2024. This growth can be attributed to the contribution made by countries like Korea, China, and Japan.
Key market players encompass ByteLight Incorporated, Lightbee Corporation, Ibsentelecom Limited, and PureLifi Limited. The adoption of Li-Fi is at its budding stage and is used in limited niche applications. Therefore, an extensive research & development investment could benefit the players in the long run.
Themen in dieser Pressemitteilung:
light-fidelity-market
light-fidelity-market-analysis
light-fidelity-market-industry
li
fi-market
li
fi-industry
lifi
tech
technology
Unternehmensinformation / Kurzprofil:
Hexa Research is a market research and consulting organization, offering industry reports, custom research and consulting services to a host of key industries across the globe. We offer comprehensive business intelligence in the form of industry reports which help our clients obtain clarity about their business environment and enable them to undertake strategic growth initiatives.
Ryan Shaw
Hexa Research
Felton Office Plaza
6265 Highway 9
Felton, California 95018
United States
Phone: +1-800-489-3075
Email: sales(at)hexaresearch.com
Website - https://www.hexaresearch.com/
Datum: 18.07.2018 - 09:41 Uhr
Sprache: Deutsch
News-ID 1538697
Anzahl Zeichen: 3138
contact information:
Contact person: Ryan Shaw
Town:
Felton
Phone: +1-800-489-3075
Kategorie:
Telecommunication
Typ of Press Release: Finanzinformation
type of sending: Veröffentlichung
Date of sending: 18.07.2018
Anmerkungen:
Diese Pressemitteilung wurde bisher 511 mal aufgerufen.
Die Pressemitteilung mit dem Titel:
"Light Fidelity (Li-Fi) Market Size, Competitive Strategies and Forecasts, 2016 to 2024
"
steht unter der journalistisch-redaktionellen Verantwortung von
Hexa Research (Nachricht senden)
Beachten Sie bitte die weiteren Informationen zum Haftungsauschluß (gemäß TMG - TeleMedianGesetz) und dem Datenschutz (gemäß der DSGVO).
