USD 19.57 billion
Li-Fi Market Size, Share, Growth Analysis, By Component(Photodetector, optical sensing, LED, microcontroller), By Application (Location based services, advanced tracker, standalone tracker, Indoor networking), By End-user(Retail, healthcare, automotive, aerospace and defense), By Region - Industry Forecast 2024-2031
Report ID:
SQMIG45N2017 |
Region:
Global |
Published Date: February, 2024
Pages:
239
|Tables:
97
|Figures:
76
Li-Fi Market Insights
Li-Fi Market size was valued at USD 19.57 billion in 2022 and is poised to grow from USD 21.89 billion in 2023 to USD 116.96 billion by 2031, growing at a CAGR of 31.6% in the forecast period (2024-2031).
Li-Fi is a light communication system that can send data at high speeds across the visible, ultraviolet, and infrared spectrums. At the moment, only LED lamps can be used for data transmission in visible light. To transmit data, it modulates light intensity. It can operate in areas that would otherwise be susceptible to electromagnetic interference (e.g., aircraft cabins, hospitals, or the military). The Li-Fi technology was first introduced in the year 2011. As shortwave radiations do not pass-through walls and doors, Li-Fi network connections are more secure and easier to manage. Because light can travel through water, it can also be used to communicate in bodies of water up to 200 metres deep. This technology could be used in other contexts, such as commercial passenger aircraft. The large number of connected devices due to the connection's high bandwidth proves to be a challenge. This has an effect on the level of service provided. The lifestyle technology uses visible light for data processing and is completely free of constraints. As a result, the market is expected to grow during the forecast period.
US Li-Fi Market is poised to grow at a sustainable CAGR for the next forecast year.
Market Snapshot - 2024-2031
Global Market Size
Largest Segment
LED
Fastest Growth
LED
Growth Rate
31.6% CAGR
Global Li-Fi Market ($ Bn)
Country Share for North America Region (%)
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Li-Fi Market Segmental Analysis
Li-Fi Market is segmented based on the component, application, end-user, and region. Based on component, the global Li-Fi Market is segmented into photodetector, optical sensing, LED, microcontroller, and others. Based on application, the Li-Fi Market is segmented into location-based services, advanced tracker, standalone tracker, indoor networking, and others. Based on end-user, the Li-Fi Market is bifurcated as retail, healthcare, automotive, aerospace and defense, transportation, and others. Based on region, Li-Fi Market is categorized into North America, Europe, Asia-Pacific, Latin America, and MEA.
Li-Fi Market Analysis by Component
Based on component, the global Li-Fi market is segmented into photodetector, optical sensing, LED, microcontroller, and others. The LED segment is expected to have the highest revenue share due to increased LED bulb adoption and lower LED bulb prices. There is an increasing demand for lead in these systems due to the many benefits of these leads such as longevity, high energy output, and power efficiency.
During the forecast period, the photodetector segment is expected to grow significantly as well. The market is expected to be driven by the increased use of photodetectors such as photodiodes, which are used to track and interpret various images. The photodiode is a photodetector that emits electromagnetic voltage equal to the optical signal that appears on the photodetector's surface.
Li-Fi Market Analysis by End-User
Based on end-user, Li-Fi market is bifurcated into retail, healthcare, automotive, aerospace and defense, transportation, and others. The retail segment is expected to lead the market by generating the most revenue. The retail sector is expected to grow rapidly during the forecast period. This segment is expected to grow as more retailers adopt this technology. This technology is also widely used in indoor retail outlets, where it is mostly used as a position element to improve the shopping experience for customers by displaying all of the new promotional deals and discount offers available. This flashing illumination can be seen with a smartphone which makes it possible for indoor movement. This is accomplished through the use of light bulbs and LEDs. The use of these elements will increase consumer satisfaction and retail sales. This technology is also beneficial because it allows retailers to identify customer preferences and assists in understanding consumer behaviour.
The automotive segment is also expected to see significant revenue growth over the forecast period. Multiple technological advancements in the LED, as well as vehicle connectivity elements, will aid in the expansion of car and traffic light implementation. Increasing standards and policies for traffic management and road safety, along with monitoring via applications, will aid in meeting the segment's revenue growth target.
Global Li-Fi Market By Component
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Li-Fi Market Regional Insights
North America is expected to have the world's largest market share during the anticipated period. The major reasons for the growth of this region are technological advancements, increasing demand for energy efficient devices, and growing need for high-speed bandwidth in North American countries. The North American region is a forerunner in technological innovations such as smart cities, smart buildings, cloud computing, electronic products, and the Internet of Things. This technology is increasingly being used in subsea and marine communication applications.
During the forecast period, the European market is also expected to grow significantly. Many countries in this region have a well-established automotive sector. This technology can be used to enable vehicle-to-vehicle connectivity in self-driving cars, as well as to avoid potential collisions. It can also assist vehicles in distinguishing between nonhuman objects and humans. The incorporation of various innovative technologies into modern automobiles will result in a significant increase in the automotive industry's acceptance of this technology. All of these factors are anticipated to enhance the market growth in the European region.
Global Li-Fi Market By Region
- Largest
- Fastest
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Li-Fi Market Dynamics
Li-Fi Market Driver
- The growing demand for indoor wireless communication technology in the commercial sector, as well as the increasing implementation of Li-Fi fire light as a service and many other optical sensing-based technologies used in the education and healthcare industries, are driving the growth of the market. The market is being driven by the increased use of smart devices and the construction of smart cities in many developed and developing countries. Li-Fi technology is less expensive and more environmentally friendly than Wi-Fi technology. This technology has a wide range of potential applications. Its applications include location-based services, mobile connectivity, hazardous environments, and smart lighting.
Li-Fi Market Restraint
- One of the limitations of Li-Fi technology is the limited range of LED bulbs, which is less than that of existing Wi-Fi devices. Physical barriers can also disrupt the connection.
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Li-Fi Market Competitive Landscape
Global Li-Fi market is highly competitive and somewhat fragmented. To maintain a competitive edge, the major industry participants are continually implementing various growth strategies. Innovations, mergers, and acquisitions, collaborations and partnerships are adopted by these players to thrive in the competitive market. In order to provide industries with the most effective and economical solutions, the major market players are also continually concentrating on R&D.
Li-Fi Market Top Player's Company Profiles
- VLNComm Inc.
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Acuity Brands Lighting Inc.
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Axrtek
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ByteLight Inc.
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Fraunhofer HHI
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General Electric
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Ibsentelecom Ltd.
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LVX System Corp.
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Lucibel
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Oledcomm
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Panasonic Corp.
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Philips Lighting
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pureLiFi Ltd.
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Renesas Electronics Corporation
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Samsung Electronics Co. Ltd.
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Siemens AG
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Signify Holding (formerly Philips Lighting)
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Sunpartner Technologies
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Toshiba Corporation
Li-Fi Market Recent Developments
- In November 2022, Brother International Australia revealed the next generation of its mobile A4 printer range, the 480g 26cm PJ-800 series, designed to allow mobile workforces to print anywhere they need.
- In November 2022, Angry Miao launched AM AFA, the world's first Alice keyboard with 3-stage adjustable leaf-spring mount.
Li-Fi Key Market Trends
- To enhance resident comfort and user experience, smart buildings are currently adapting to accommodate their residents. They accomplish this by tracking each occupant's location and then providing location-based services like intelligent car parking, health monitoring, logistics, and shopping assistance. In addition to assisting with indoor shopping, location-based services play an important role in lowering building energy costs. The basic idea behind Li-Fi technology is to use visible light from an LED light bulb to send high-speed data to a photodetector connected to a smartphone or tablet.
Li-Fi Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected utilizing Primary Exploratory Research backed by the robust Secondary Desk research.
According to our global Li-Fi market analysis, increased uses of indoor location-based services embedded in light fixtures in retail shops and hotels in the North American region are also expected to drive revenue growth in the region. Increasing demand for indoor networking in the commercial sector will drive the global market during the forecast period. However, Li-Fi cannot be used outside due to interference from nearby optical sources and sunlight, as it may be intercepted by unwanted people, acting as a restraint to the market.
| Report Metric | Details |
|---|---|
| Market size value in 2022 | USD 19.57 billion |
| Market size value in 2031 | USD 116.96 billion |
| Growth Rate | 31.6% |
| Base year | 2023 |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Li-Fi Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Li-Fi Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Li-Fi Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Li-Fi Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Li-Fi Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Li-Fi Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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