Published Date : Nov 07, 2016
ALBANY, NY, Nov 07, 2016: The 62-page research study, titled “Global Li-Fi Market 2016–2020,” presents an in-depth reports and forecast of the market. According to the research study, the global Li-Fi market is projected to register an impressive 48% CAGR between 2016 and 2020.
The faster and safer options for data transfer offered by Li-Fi technology are the prominent factors augmenting the growth of the global Li-Fi market. In addition, the introduction of Internet of Things-enabled Li-Fi is expected to generate potential opportunities for leading players. Technological advancements and introduction of improved and innovative products are further projected to encourage the market’s growth in the next few years. However, key players in the market are facing challenges concerning the field of view (FOV) alignment and shadowing, which is estimated to restrict the growth of the overall market in the coming years.
By end use, the global Li-Fi market has been classified into consumer electronics, healthcare, defense and security, retail, and automotive and transportation. Among these, the retail segment is expected to account for a massive share in the global Li-Fi market and register a healthy growth rate throughout the forecast period. The increasing use of mobile phones for shopping is one of the primary factors boosting the demand for Li-Fi technology.
On the basis of application, the global Li-Fi market has been divided into underwater communications, LBS, indoor networking, and in-flight communication and entertainment. At present, the indoor networking segment is growing at a fast pace, thanks to extensive demand for innovative Li-Fi technology in indoor networking. In addition, the growing use of indoor networking systems in hospitality and retail industries in order to improve the service and shopping experience of consumers is projected to fuel the growth of this segment in the coming years.
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From a geographical viewpoint, the Americas account for a massive share in the global Li-Fi market and are estimated to remain in the leading position throughout the forecast period. The high growth of this region can be attributed to the wide use of radio frequency for Wi-Fi. In addition, technological advancements by leading players in this field to enhance communication networks are projected to accelerate the growth of the overall market in the next few years.
The global Li-Fi market is extremely competitive in nature as several institutes, research centers, and consortiums are focusing on research and development activities to develop and commercialize innovative Li-Fi technology. In addition, the rising number of collaborations, partnerships, and mergers and acquisitions is expected to strengthen the competitive scenario of the global market in the next few years. Some of the leading players mentioned in the research study are Luciom, GE, Philips, Casio, Renesas Electronics, pureLiFi, Outstanding Technology, Panasonic, Lightbee, LVX System, ByteLight, Plaintree Systems, IBSENtelecom, Oledcomm, LightPointe Communications, Supreme Architecture, and Avago Technologies.
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