Light Fidelity (Li-Fi) Market to Hit $7,757.3 Million by 2030: Grand View Research, Inc.

SAN FRANCISCO, March 9, 2023 /PRNewswire/ -- The global light fidelity market size is expected to reach USD 7,757.3 million by 2030, growing at a CAGR of 51.0% from 2023 to 2030, according to a new report by Grand View Research, Inc. The growth of the Light Fidelity (Li-Fi) market can be attributed to the factors such as high-speed data transfer, high security, energy efficiency, no spectrum shortage, and no interference with radio frequency RF spectrum.

Key Industry Insights & Findings from the report:

• The LED segment is expected to witness significant growth over the forecast period. LEDs can be rapidly switched to ON and OFF states to create a digital signal, which is driving their adoption in the manufacturing of Li-Fi. Additionally, they are highly energy efficient, are cheaper in costs, have a longer lifespan, and are compatible with the existing lighting infrastructure, thus driving the segment's growth.
• The healthcare segment is expected to witness significant growth over the forecast period. Li-Fi provides multiple benefits in the healthcare industry including higher speed, improved security, reduced interference, and energy efficiency. Additionally, since it does not use RF spectrum, it reduces radio frequency pollution in hospitals, which is driving the adoption of Li-Fi in hospitals, thereby propelling the segment's growth.
• Asia Pacific is anticipated register significant growth over the forecast period. The regional growth can be contributed by a broader customer base and a substantial number of Li-Fi providers in the region. Encouraging government initiatives for digitization and adoption of Li-Fi also bode well for the market's growth.

Read 110-page market research report, "Light Fidelity Market Size, Share, & Trends Analysis Report By Component (LED, Photodetector), By End-use (Automotive, Retail, Government), By Region, And Segment Forecasts, 2023 - 2030", published by Grand View Research. 

Light Fidelity Market Growth & Trends

Li-Fi is a wireless communication technology that uses the visible light spectrum to transmit data. Li-Fi uses light waves that cannot penetrate walls like radio frequency waves used in Wi-Fi. This makes Li-Fi more secure, as it is difficult to intercept the data transmitted through Li-Fi. Additionally, as the number of network users increases, the RF spectrum is likely to get crowded, lowering the speed of Wi-Fi. Li-Fi eliminates this issue by leveraging the visible light spectrum instead of the RF spectrum, propelling its adoption.

Li-Fi uses LED lights to transmit the data through their modulation. Since LEDs are already widely used in lighting, Li-Fi can be integrated with the existing infrastructure without requiring additional energy consumption, making them an energy-efficient option. Moreover, it has the potential to transmit data at extremely high speeds, up to several gigabits per second, which is much faster than traditional Wi-Fi. This makes Li-Fi a faster and more reliable option, expected to drive the market's growth over the forecast period.

Since Li-Fi uses light signals, it can only travel within the line of sight of the light source, limiting the range. It also means that Li-Fi signals cannot travel through windows. Hence, end-users must install individual Li-Fi systems over several places to cover the whole area. Moreover, Li-Fi technology is not currently compatible with existing devices such as smartphones and laptops, so additional hardware is required to access Li-Fi. These disadvantages can prove to be a hindrance to the market's growth.

Light Fidelity Market Segmentation

Grand View Research has segmented the global light fidelity market based on component, end-use, and region.

Light Fidelity Market - Component Outlook (Revenue, USD Million, 2017 - 2030)

• LED
• Photodetector
• Microcontrollers
• Others ((Antenna, and Wireless Communication Module)

Light Fidelity Market - End-use Outlook (Revenue, USD Million, 2017 - 2030)

• Automotive
• Retail
• Healthcare
• Aerospace & Defense
• Government
• Transportation
• Education
• Others (Consumer Electronics, Mining, Oil & Gas, BFSI)

Light Fidelity Market - Regional Outlook (Revenue, USD Million, 2017 - 2030)

• North America
• U.S.
• Canada
• Europe
• U.K.
• Germany
• France
• Italy
• Asia Pacific
• China
• India
• Japan
• Australia
• Latin America
• Brazil
• Middle East & Africa

List of Key Players of Light Fidelity Market

• PureLiFi
• Oledcomm
• Signify Holding.
• VLNComm
• Velmenni
• Wipro Lighting
• LiFiComm
• Lucibel
• Zero1
• Panasonic

Check out more related studies published by Grand View Research:

• Smart Antenna Market - The global smart antenna market size is predicted to reach USD 14.49 billion by 2030 and is also anticipated to register a CAGR of 9.68% from 2022 to 2030, according to recent report by Grand View Research, Inc. The growing demand for updated technologies and high-quality wireless communication is driving the deployment of smart antennas.
• Wireless Microphone Market - The global wireless microphone market size is estimated to reach USD 3.51 billion by 2025, expanding at a CAGR of 5.9%, growing at a CAGR of 5.9%, according to a new study by Grand View Research, Inc. Technological proliferation such as Wi-Fi and Bluetooth enabled microphones are expected to drive the market growth over the forecast period.
• Industrial Wireless Sensor Network Market - The global industrial wireless sensor network market size is expected to reach USD 8.66 billion by 2025, growing at a CAGR of 14.5% from 2020 to 2025, according to a new study conducted by Grand View Research, Inc. The benefits offered by industrial wireless sensor network (IWSN) over wired networks, such as mobility, self-discovery capability, compact size, cost-effectiveness, and reduced complexity, are anticipated to play a significant role in increasing global demand.

Browse through Grand View Research's Next Generation Technologies Industry Research Reports.

About Grand View Research

Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.

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SOURCE Grand View Research, Inc.