Enjoy complimentary customisation on priority with our Enterprise License!
The Light Fidelity market size is projected to increase by USD 19.28 billion at a CAGR of 80.92% between 2023 to 2028. The market is experiencing significant growth due to the surge in end-user applications and the availability of increased bandwidth. This technology, which utilizes LED lights to transmit data, offers substantial energy efficiency and large bandwidth, making it an ideal solution for IoT (Internet of Things) environments. The integration of LiFi with LED lamps can lead to substantial energy savings and support high node densities, a crucial requirement for IoT implementations. The potential of LiFi to enhance connectivity and efficiency in various sectors, including healthcare, education, and manufacturing, is driving market expansion. The growing importance of IoT and the need for reliable, high-speed wireless communication are further boosting the LiFi market's momentum.
To learn more about this report, Download Report Sample
The market is experiencing significant growth due to the increasing demand for eco-friendly and recyclable solutions. One such market that is gaining traction is the Stone Paper market. This innovative product offers waterproof qualities, making it an excellent alternative to traditional paper, especially in industries requiring water resistance and tear resistance. Stone paper is made from calcium carbonate, a natural mineral, and is free from deforestation. The manufacturing process also produces fewer greenhouse gases compared to wood pulp. Major players in the market include Ball Corporation, International Paper, Sealed Air, Suzano, Klabin, Cristalerias de Chile, LafargeHolcim, and The Stone Company. Continuous research and development in the Stone Paper market are emphasizing the creation of self-adhesive papers and waterproof stone papers. These innovations cater to various industries, including printing, where sustainability and environmental concerns are becoming increasingly important. Labeling industries are also showing interest in stone paper due to its water resistance and eco-friendliness. In conclusion, the Stone Paper market is poised for growth as more businesses prioritize sustainability and seek eco-friendly alternatives to traditional paper products. The market's potential is vast, and companies are investing in research and development to expand their applications and offerings.
An increase in end-user applications is a key factor driving the growth of the global light fidelity market. LiFi is a new wireless data transfer technology that is 100 times faster and ensures better security than any other competing technology. This technology is used in offices that require a secure and very fast network for exchanging, transferring, and sending files. Unlike WiFi, which uses radio waves, LiFi utilizes light waves. Light is used as a medium to send information. Light travels faster from one end of the cable to the other. LiFi uses LED lights that can quickly transfer data from and to supported devices. Moreover, the use of light fidelity is safe, as it does not use radio frequencies that may harm nature and people.
Furthermore, light fidelity technology can be applied in almost all environments. For instance, transmission using RF in water is difficult, but the same can be achieved through light fidelity (li-fi). Besides, RF can interfere with the electronic circuitry in hospitals, aircraft, mines, and petrochemical plants. Thus, LiFi is a safe option, as it does not pose any health hazards and can be utilized in areas where RF cannot be used. This will drive the adoption of LiFi, which, in turn, will lead to a surge in its global demand during the forecast period.
An increase in end-user applications is the primary trend in the global light fidelity market growth. The attractiveness of various end-user applications will drive the growth of the market during the forecast period. Numerous sectors will benefit from using light-fidelity (li-fi) systems. Moreover, Lifi will also ensure a shift from RF communication in industrial sectors such as mining, oil and gas, and petrochemicals to eliminate any problem related to safety.
The Walt Disney Company also has plans to use these systems for communicating with toys. These applications will ensure the rapid adoption of Lifi technology in the consumer electronics sector during the forecast period.
The dominance of competing technologies is a major challenge to the growth of the global light fidelity market. WiFi and WiMAX technology-based devices have dominated the communications industry for decades. These have replaced analogue and digital technologies used in various sectors. Reliable and efficient network connectivity helps in the proper monitoring and control of home appliances. Smart systems (smart homes, connected cars, smart manufacturing, and smart grid management) are gaining momentum due to the introduction of high-speed internet services from leading Internet service providers, such as AT and T, Comcast, Sprint, and Verizon.
However, the development of light fidelity (Li-Fi) technology has reduced the demand for WiFi and WiMAX technologies to a certain extent; however, the market is still dominated by these technologies (WiFi and WiMAX) in most regions across the world. Such factors will hinder the growth of the market during the forecast period.
The report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Market Customer Landscape
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
Acuity Brands Inc. - The company offers light-fidelity services such as eldoLED ECOdrive.
The report also includes detailed analyses of the competitive landscape of the market and information about 15 market players, including:
Qualitative and quantitative analysis of vendors has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize vendors as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize vendors as dominant, leading, strong, tentative, and weak.
The market share growth by the indoor networking segment will be significant during the forecast period. The indoor network segment is expected to grow rapidly during the forecast period. Indoor networking has penetrated the global light fidelity (Li-Fi) market. The retail and hospitality industries are using indoor networking systems to enhance the shopping and service experience of customers and improve the value that they deliver. Due to the intrinsic characteristics of light, the light fidelity (li-fi) network is more secure, more power-efficient, and can provide higher network data transmission rates than radio frequency communications.
Get a glance at the market contribution of various segments Request a PDF Sample
The indoor networking segment was valued at USD 88.60 million in 2018 and continued to grow by 2022. The adoption of this technology, along with indoor position apps, will improve the targeted advertising of retailers and enhance their sales. The rapid increase in the use of LEDs and their ability to perform dual functions of illumination as well as communication have provided a unique opportunity for Lifi to be used for indoor lighting. Moreover, low data rates and the use of existing infrastructure will reduce costs considerably. Also, the interest shown by major lighting manufacturers like General Electric and Philips will further boost this market. However, in an indoor light fidelity (li-fi) based network, every space for lighting in a room can act as an optical access point (AP). If the distance between these APs is small, then interference between them becomes unavoidable. This issue can affect the performance of a network considerably, thereby hampering the growth of the market in indoor networking applications. These factors are expected to drive the growth of the indoor networking segment, which, in turn, will propel the growth of the market during the forecast period.
For more insights on the market share of various regions Request PDF Sample now!
North America is estimated to contribute 38% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. The use of radiofrequency for WiFi has created a severe spectrum crunch in North America. This has led to a decline in the bandwidth offered, thus affecting high-speed communications. Therefore, the new disruptive light fidelity (Li-Fi) technology is expected to take over the WiFi market in applications such as horticultural lighting, industrial and commercial, and marine lighting. The US, Canada, and Mexico have started to phase out incandescent lamps in favor of more energy-efficient light sources, such as LEDs, and aim to achieve 100% LED deployment. The Department of Transportation (DOT) and the National Highway Traffic Safety Administration (NHTSA) in the US mandate the use of LEDs in the headlights and taillights of vehicles. Therefore, the demand for faster and safer wireless communication in the region will likely drive the adoption of this technology in the region. Hence, such factors are driving the market in North America during the forecast period.
The market research report provides comprehensive data (region wise segment analysis), with forecasts and estimates in "USD Billion" for the period 2024 to 2028, as well as historical data from 2018 to 2022 for the following segments.
You may also interested in below market reports:
Visible Light Communication Market by End User, Application, and Geography - Forecast and Analysis
South Korea - LED Lighting Market by Application and Product - Forecast and Analysis
Automotive Laser Headlight System Market Analysis Europe, APAC, North America, Middle East and Africa, South America - Germany, China, US, UK, Italy - Size and Forecast
Li-Fi, also known as Light Fidelity, is an innovative wireless communication technology that utilizes LED lights to transmit data. Unlike traditional Wi-Fi which uses the RF spectrum, Li-Fi operates in the visible light spectrum. This technology is gaining popularity due to its potential integration with IoT devices and energy efficiency. The Microcontroller segment and Retail segment are expected to dominate the Li-Fi market due to the increasing adoption of smart devices and the need for secure and high-speed data transmission. Companies like PureLiFi, Nav Wireless Technologies, Oldecomm, and Signify are leading the Li-Fi market with their innovative solutions.
Moreover, Li-Fi technology can be applied in various industries such as Consumer Electronics, Vehicle and Transportation, Aviation, The Stone Paper Company, Water resistant, Tear resistant, Hospital, Underwater Communication, Hazardous Environment, and Smart Cities. The market is forecast to grow significantly by 2030, driven by the increasing demand for wireless communication, connected devices, and data-intensive applications. The market landscape depends on the Smart Store, Street Light, Telecommunications, Recent development, Supply chain, Street Ligh, Internet of Things (IoT) integration. The market definition includes the use of VLC technologies, such as AMP (Amplitude Modulation) and AI (Artificial Intelligence), to modulate the intensity of LED lights to transmit data. The technology offers energy efficiency and secure communication, making it an attractive alternative to Wi-Fi. Countries covered in the Li-Fi market research include the United States, Europe, China, Japan, and others. Significant players in the market include Signify Holding, Oledcomm, and pureLiFi. The Department of Energy is also investing in Li-Fi research to improve energy efficiency and reduce the carbon footprint of wireless communication.
Market Scope |
|
Report Coverage |
Details |
Page number |
187 |
Base year |
2023 |
Historic period |
2018 - 2022 |
Forecast period |
2024-2028 |
Growth momentum & CAGR |
Accelerate at a CAGR of 80.92% |
Market growth 2024-2028 |
USD 19.28 billion |
Market structure |
Fragmented |
YoY growth 2023-2024(%) |
65.4 |
Regional analysis |
North America, APAC, Europe, South America, and Middle East and Africa |
Performing market contribution |
North America at 38% |
Key countries |
US, China, Germany, Japan, and UK |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
Acuity Brands Inc., Fujitsu Ltd., General Electric Co., Global LiFi Tech, Koninklijke Philips N.V., KYOCERA Corp., LIFX, LightBee SL, Lucibel SA, Luciom, LumEfficient Lighting Corp., LVX System, nextLiFi, Oledcomm, pureLiFi Ltd., Signify NV, Velmenni, VLNComm Inc., Wipro Ltd., and Zero1 Pte Ltd. |
Market dynamics |
Parent market analysis, market report , Market forecasting , Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, Market growth and Forecasting, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this report to meet your requirements. Get in touch
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Application
7 Market Segmentation by End-user
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Opportunity/Restraints
11 Competitive Landscape
12 Competitive Analysis
13 Appendix
Get lifetime access to our
Technavio Insights
Quick Report Overview:
Cookie Policy
The Site uses cookies to record users' preferences in relation to the functionality of accessibility. We, our Affiliates, and our Vendors may store and access cookies on a device, and process personal data including unique identifiers sent by a device, to personalise content, tailor, and report on advertising and to analyse our traffic. By clicking “I’m fine with this”, you are allowing the use of these cookies. Please refer to the help guide of your browser for further information on cookies, including how to disable them. Review our Privacy & Cookie Notice.