Wednesday, 10 May 2017

Global Li-Fi Market share to exceed $75.5bn by 2023

Industry Overview

The research report (Light Fidelity) Li-Fi Market Size By Component (Microcontroller, Photodetector, LED), By Application (Indoor Networking, Aerospace, Automotive, Healthcare, Location Based Services, Underwater Communication, Defense & Security, Intrinsically Safe Environments), Industry Analysis Report, Regional Outlook (U.S., UK, Germany), Application Potential, Price Trends, Competitive Market Share & Forecast, 2016 – 2023, by Global Market Insights, Inc. says Li-Fi Market size is anticipated to reach USD 75.5 billion by 2023; driven by increased efficiency.

Li-Fi or Light-Fidelity market will exhibit massive growth over the coming six years, driven by its increasing demand across electromagnetic sensitive areas such as hospitals, nuclear power plants, and aircraft cabin. Light fidelity (Li-Fi) industry has gained high popularity in the global business space over the recent years, driven by its growing preference over traditional technologies on account of its favorable features such as energy efficiency, directional lighting, high-speed data transfer, and intrinsic security. The additional advantages of Li-Fi such as no bandwidth limitations, RF spectrum bandwidth crunch will provide an upper hand to this technology over the traditional channels such as Wi-Fi.

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Light fidelity (Li-Fi) market finds widespread applications across location-based services, indoor networking, defense & security, intrinsically safe environments, automotive, underwater communication, aerospace, and healthcare. Location-based services are predicted to grow noticeably at a CAGR of 79.5% over the period of 2016 to 2023. The growth can be attributed to escalating technological innovations and enhancement in the location and indoor positioning system.

The healthcare sector is expected to surpass a revenue of USD 2.6 billion by 2023. The growth of Li-Fi market across the medical sector is primarily driven by its capability to transfer data at a very high speed. In addition, considering the health concerns, Li-Fi is preferred over Wi-Fi for the interdepartmental medical facilities such as sharing the patient’s data with the other department.

Considering the components, light fidelity (Li-Fi) market is mainly divided into LED, Microcontroller, Photodetector. LED or light emitting diode industry share is anticipated to grow at a rate of 79% from 2016 to 2023. Shifting trends toward the energy-efficient product will boost the demand for LED. Photodetector covered 30% of the overall Light-fidelity (Li-Fi) market share in 2015 and will exhibit attractive growth rate in the years ahead.

Geographically, Asia Pacific light fidelity (Li-Fi) industry worth USD 185 million in 2015, is slated to exhibit substantial growth rate over the coming six years. The growth can be attributed to the increasing need for internet connectivity in developing countries. Significant R & D activities across the European region will boost Europe Li-Fi market share in the coming timeframe.

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U.S. light fidelity market collected a revenue of about USD 190 million in 2015 and is projected to register a growth rate of 78% over the period of 2016 to 2023. The growing demand for wireless communication across this region will augment the industry growth.
The key players will adopt strategies such as mergers & acquisitions, strategic collaborations, and heavy R&D investments to enhance their product portfolios. The notable participants in Light Fidelity (Li-Fi) market are GE, Oledcomm, PureLifi, Lucibel, Distech Control, Acuity Brands, Philips, and LVX.

Report Content

Chapter 1    Methodology & Scope

1.1    Research Methodology
1.1.1    Initial data exploration
1.1.2    Statistical modeling and forecast
1.1.3    Industry insights and validation
1.2    Data Sources

Chapter 2    Executive Summary

2.1    Li-Fi industry 3600 synopsis, 2013 - 2023
2.1.1    Business trends
2.1.2    Regional trends
2.1.3    Application trends

Chapter 3    Li-Fi Industry Insights

3.1    Industry segmentation
3.2    Industry size and forecast, 2013 - 2023
3.3    Industry ecosystem analysis
3.3.1    Vendor matrix
3.4    Technological evolution
3.5    Industry impact forces
3.5.1    Growth drivers  Massive bandwidth spectrum  High degree of security  Network availability  Increased efficiency
3.5.2    Industry pitfalls & challenges  Limited network coverage or short range  High electricity consumption  Lack of awareness
3.6    Growth potential analysis
3.7    Competitive landscape, 2015
3.7.1    Strategy overview
3.8    Porter’s analysis
3.9    PESTEL analysis

 About Global Market Insights

Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

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