Published Date : Feb 26, 2018
ALBANY, New York, February 26, 2018 - The global light fidelity (Li-Fi)/visible light communication (VLC) market has been foreseen to gain momentum in its growth due to a number of technological advantages over Wi-Fi, impending RF spectrum crunch, and the need for data security and high-speed data transmission. MarketResearchReports.biz has added a publication bearing the title “Global Light Fidelity (Li-Fi)/Visible Light Communication Market Research Report 2017.” In this report, the market has been segregated into healthcare, aerospace and aviation, automotive and transport, defense and security, electronics, and retail as per end user segmentation. By product, there could be segments such as microcontrollers, photodetectors, and LED.
Li-Fi could give a tough competition to Wi-Fi, which is currently prevailing, on the basis of less power consumption and no electromagnetic interference. However, Li-Fi users could find the speed of the technology being hampered due to the presence of other light sources. Furthermore, Li-Fi could operate with limited applicability because of its restricted communication range. However, the demand for Li-Fi has been predicted to improve in the near future on account of extended research in this field.
The adoption of Li-Fi could increase around the world due to the rise of another factor, i.e. the growing trend of LED lights. Over the past few years, there has been a telling growth in the installation of LED lights owing to benefits such as improved illumination, no harmful emission, and low power consumption. LED could play a significant part in the growth of the world Li-Fi/VLC market since it is an integral portion of Li-Fi systems. Moreover, the subsidized rates of LED lights offered by several governments could augment the demand in the coming years.
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The escalating requirement of Li-Fi technology in a range of industries such as defense and security, aerospace and aviation, healthcare, and retail has been forecast to set the tone for a valuable growth in the international Li-Fi/VLC market. Rise in the adoption of vehicle-to-vehicle communication in the automotive industry could help the market to attain growth in the near future. Owing to its safe usage with ultrasound, X-ray, and MRI machines, CT scanner, and other medical apparatus, Li-Fi technology finds a high usage in the healthcare field.
Li-Fi has also been expected to find extensive application in the retail industry as retailers could enhance shopping experience of customers by tracing their location and monitoring their positioning. This could also allow retailers to provide notifications on customers’ mobile phones. The analysts authoring the report have studied different developed and less developed geographies deemed important for the international Li-Fi/VLC market. As per seasoned researchers, North America could offer lucrative opportunities in the near future. This could be on account of strong investments for the implementation of Li-Fi and the presence of a number of research and development facilities.
However, Asia Pacific could showcase a speedy growth in the international Li-Fi/VLC market because of a number of governments promoting the usage of LED lights and expansive electronics market in key countries such as Japan and China. Companies could focus on partnerships and research and development activities to reach untapped markets. Product launch could be another strategy adopted to grow their presence in the market. The report has mentioned about leading companies such as LVX System, pureLiFi, Renesas Electronics, Oledcomm, and General Electric. All of the companies studied in the report have been analyzed based on market share, revenue, and other factors.
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