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

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.