Li-Fi Market Analysis

Li-Fi Market Analysis

The LED component segment held a market share of around 45% in 2019 and is anticipated to reach USD 600 million by 2025. This growth can be attributed to rising deployment of LEDs in commercial establishments and industries. Several benefits of LEDs such as durability, low power consumption, and high energy output are proliferating their demand in the Li-Fi systems. These advantages are contributing to the wide adoption of LEDs in the form of arrays for Li-Fi system infrastructure, supporting the market growth.
 

Location-based services segment in the Li-Fi market will grow at the CAGR of around 50% through 2030, owing to ability of Li-Fi networking system to provide precise location information services in indoor environments. It provides comprehensive mapping tools for the measurement and accurate visualization of pedestrian traffic in retail stores. It optimizes indoor & outdoor floor plan information to provide customers with directions to their area of interest using their smartphones.
 

The Li-Fi technology is anticipated to witness demand from automotive industry to facilitate Vehicle to Vehicle (V2V) communication in connected cars. The ability of V2V communication to exchange data with other vehicles aids in preventing potential crashes and congested traffic jams. V2V communication enabled by Li-Fi technology will also assist autonomous cars to distinguish between living and inanimate objects. This ability will further enhance the decision-making capabilities in autonomous cars. The growing integration of advanced technologies into modern vehicles will drive the adoption of Li-Fi in the automotive sector.
 

The Europe Li-Fi industry valuation crossed USD 30 million in 2019 where UK held around 28% of the revenue share. The regional industry is witnessing a high growth due to increasing number of internet users and high data consumption in the region.

According to the Central Intelligence Agency Factbook, there are 62.9 million active internet users in the UK as of 2019. This is encouraging telecom operators in the UK to implement Li-Fi technology. For instance, in August 2018, European telecom operator O2 began the trial of Li-Fi technology in the UK in partnership with PureLiFi. The company implemented LiFi-XC system consisting of several LiFi-enabled LED bulbs in a room at its Slough headquarters. The system allows data transmission from an LED light bulb. The adjustments in the intensity of the bulb provide high-speed, bidirectional exchange of data.