The global Li-Fi market is expected to grow at a significant CAGR during the forecast period (2024-2031). Li-Fi is a disruptive technology that will affect a wide range of businesses. The technology can unlock the promise of IoT, driving Industry 4.0 applications, and paves the way for the lighting industry’s impending light-as-a-service (LaaS). Owing to the growing demand for energy management, governments are investing in the ICT sector. Players are compelled to invest and innovate in Li-Fi as a result of government initiatives in the ICT sector, such as implementing smart city transformations. For instance, ICT is at the heart of the seven-year Dubai Plan 2021, which builds on the emirate’s leadership’s investment in sophisticated technology, as well as some private sector technology enterprises.
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Furthermore, the European Commission highlights the enabling role that ICT may play during the forecast period, such as making buildings more energy-efficient or improving the operation of the power grid and water management. The idea of a smart city is to improve the efficiency of city operations and services while also connecting inhabitants. As the visible light is limited, Li-Fi has a security benefit over Wi-Fi. These constraints, on the other hand, have drawbacks. A Li-Fi-enabled LED lamp’s working range is limited by physical barriers such as walls and doors. As light cannot penetrate, opaque materials have a reduced range, the data broadcast by a Li-Fi product is constrained to a small area.
To broaden the scope of the Li-Fi network in establishments such as a house or a building, enabled LED bulbs must be strategically positioned in rooms, halls, and other sections. A single Wi-Fi router has a greater range and coverage than a single Li-Fi router. Li-Fi is not suitable for use in public wi-fi networks. This is due to interference from adjacent light sources and other optical sources. Moreover, if used outside, it can be intercepted by undesirable parties. Furthermore, Li-Fi is still in its infancy, with only a few companies have reached commercialization.
The Covid-19 pandemic has wreaked havoc on the day-to-day operations of a variety of businesses across the board. However, as the number of COVID-19 patients grows rapidly around the world, hospitals and medical facilities are confronting a significant problem in treating patients. For instance, in April 2020, Nav Wireless Technology Pvt Ltd. used Li-Fi technology to communicate critical patient data, such as ventilator readings, temperature, and so on, with the use of a wireless data transfer through LED lights. The product is a plug-and-play LED light with a Li-Fi-enabled chip and a USB dongle for connecting to a computer.
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Market Coverage
- Segment Covered-
o By Application
- Competitive Landscape: Koninklijke Philips N.V., PureLi-Fi Ltd., and Panasonic Corp., among others.
Key questions addressed by the report
- What is the market growth rate?
- Which segment and region dominates the market in base year?
- Which segment and region will project fastest growth in the market?
- How COVID-19 impacted the market?
o Recovery Timeline
o Deviation from pre-COVID forecast
o Most affected region and segment
- Who is the leader in the market?
- How players are addressing challenges to sustain growth?
- Where is the investment opportunity?
Global Li-Fi Market Report Segmentation
By Application
- Indoor
- Outdoor
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