What is the global market size of the Li-Fi Market?

Global Li-Fi Market size was valued at USD 19.57 billion in 2021 and is poised to grow from USD 21.89 billion in 2022 to USD 116.96 billion by 2030, growing at a CAGR of 31.6% in the forecast period (2023-2030).

Li-Fi Market Size, Share, Growth Analysis, By Component (Photodetector, LED), By Application (Advanced Tracker, Location Based Services), By End User (Automotive, Retail), By Transmission (Unidirectional, Bidirectional), By Region - Industry Forecast 2025-2032

Report ID: SQMIG45N2017 | Region: Global | Published Date: February, 2024
Pages: 239 | Tables: 97 | Figures: 76

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.

Li-Fi Market Report Snapshots

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Li-Fi Market size was valued at USD 21.89 Billion in 2023 and is poised to grow from USD 28.81 Billion in 2024 to USD 153.92 Billion by 2032, growing at a CAGR of 31.6% during the forecast period (2025-2032).

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. 'Signify Holding BV (Netherlands) ', 'Lucibel SA (France) ', 'PureLiFi Ltd. (UK) ', 'Oledcomm SAS (France) ', 'Panasonic Corporation (Japan) ', 'Velmenni OÜ (Estonia) ', 'Acuity Brands, Inc. (US) ', 'Renesas Electronics Corporation (Japan) ', 'ByteLight Inc. (US) ', 'FSONA Networks Corp. (Canada) ', 'LVX System (US) ', 'Slux (Japan) ', 'Kyocera SLD Laser Inc. (Japan) ', 'Fraunhofer HHI (Germany) ', 'General Electric (US) ', 'Ibsentelecom Ltd. (UK) ', 'Lightbee Corp. (US) ', 'Zero1 (US) ', 'Spectrum Networks LLC (US) ', 'IDRO Co. Ltd. (South Korea) '

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.

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.

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.

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Li-Fi Market Size, Share, Growth Analysis, By Component (Photodetector, LED), By Application (Advanced Tracker, Location Based Services), By End User (Automotive, Retail), By Transmission (Unidirectional, Bidirectional), By Region - Industry Forecast 2025-2032

Li-Fi Market Dynamics

Li-Fi Market Report Snapshots

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