Additionally, by application, the indoor segment is expected to witness a notable growth in the near future on the back of increasing accommodation in smart buildings and rise in usage of Li-Fi in various indoor settings.

Research Nester published a report titled “Li-Fi (Light Fidelity) Market: Global Demand Analysis & Opportunity Outlook 2030” which delivers detailed overview of the globally-Fi (light fidelity) market in terms of market segmentation by component, application, end user, and by region.

Further, for the in-depth analysis, the report encompasses the industry growth indicators, restraints, supply and demand risk, along with detailed discussion on current and future market trends that are associated with the growth of the market.

The global Li-Fi (light fidelity) market is expected to garner a sizeable revenue by growing at a CAGR of ~69% throughout the forecast period, i.e., 2022 – 2030, owing to the rising need for high-speed data transfer, growing number of government initiatives regarding energy management in the ICT sector and increasing emergence of IoT. Furthermore, escalating implementation of smart city projects globally is also estimated to fuel the expansion of the market in the coming years.

The market is segmented by component, application and end user. On the basis of component, the LED segment is anticipated to grab the largest share during the forecast period accounting to the high promotion of use of LED by governments of several nations. Additionally, by application, the indoor segment is expected to witness a notable growth in the near future on the back of increasing accommodation in smart buildings and rise in usage of Li-Fi in various indoor settings.

Regionally, the global Li-Fi (light fidelity) market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and the Middle East & Africa. Asia Pacific is projected to witness noteworthy market growth over the forecast period, which can be attributed to the increasing number of government initiatives for the improvement of telecommunication infrastructure and high growth of electronics industry in the region.

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Growing Requirement for High-Speed Data Transfer Worldwide to Drive Market Growth

Over the last few years, the volume of data across the world has increased significantly. Fast and efficient communication is the need of the hour. As light fidelity (Li-Fi) technology has the ability to unlock the potential of IoT and driving industry 4.0 applications, its adoption is anticipated to rise in the coming years, which in turn is projected to boost the growth of the market.

However, limited communication range of light fidelity is expected to operate as key restraint to the growth of the global Li-Fi (light fidelity) market over the forecast period.

This report also provides the existing competitive scenario of some of the key players of the global Li-Fi (light fidelity) market which includes company profiling of LVX System, Signify Holding BV, pureLiFi Ltd, Lucibel SA, Oledcomm SAS, fSONA Networks Corporation, Wireless Excellence Ltd, Fraunhofer HHI, Panasonic Corporation, ACUITY BRANDS LIGHTING, INC., and others. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global Li-Fi (light fidelity) market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.     

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