Li-Fi Market Expected to Rise at 45% CAGR During 2021-2026 - IMARC Group
Li-Fi Market
The global Li-Fi market exhibited strong growth during 2015-2020. IMARC Group expects the market to grow at a CAGR of around 45% during 2021-2026.
SHERIDAN, WYOMING, UNITED STATES, November 17, 2021 /EINPresswire.com/ -- According to IMARC Group latest report titled” Li-Fi Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026”, the market is currently witnessing strong growth. The Global Li-Fi Market to grow at a CAGR of around 45% during 2021-2026. Light fidelity (Li-Fi) refers to a wireless optical networking technology that utilizes the visible light spectrum, infrared and ultraviolet radiations to transfer data at high speeds. The system operates through microcontrollers and light-emitting diodes (LEDs) that trigger the conversion of light waves into electrical signals. These signals are then collected by photodetectors that analyze the changes in light intensity as data. This technology can connect distant and remote terrains across wide areas that cannot be reached via optical fibers. As a result, this technology is extensively utilized across various industries, including automotive, healthcare, aerospace, electronics, information technology (IT) and defense.
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As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the purchase behaviours of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.
Market Trends:
Rapid urbanization and the increasing construction of smart cities across the globe are primarily impelling the market growth. Furthermore, the growing adoption of big data tools, cloud computing and multi-tier data center architectures across several industries is also driving the market growth. Compared to the traditionally used substitutes, such as Wi-Fi, Li-Fi systems facilitate massive bandwidth spectrum, higher speeds and minimal network and radio interference. Additionally, the growing adoption of automated systems across residential and commercial spaces is creating lucrative opportunities for the industry players for business expansion. Numerous other factors, including the rising need for improvements in the existing technologies, rising digitalization, and extensive R&D activities, are anticipated to propel the market in the coming years.
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Competitive Landscape with Key players:
The report has also analysed the competitive landscape of the market with some of the key players being.
FSOna Networks Corp
General Electric Co.
LG Innotek
Lightpointe Communications
Lucibel
LVX System
Oledcomm
Philips
PureLi-Fi Ltd.
Semicon Light Company
Sunpartner Technologies
Wipro LLC
Li-Fi Market Segmentation:
Our report has categorized the market based on region, component, application, transmission type and end-user.
Market Breakup by Component:
LED Lamps
Optical Sensor
Microcontroller
Software
Others
Market Breakup by Application:
Indoor Networking
LBS (Location Based Services)
In-Flight Communication and Entertainment
Underwater Communication
Others
Market Breakup by Transmission Type:
Unidirectional
Bidirectional
Market Breakup by End-User:
Retail
Consumer Electronics
Automotive and Transportation
Healthcare
Defense and Security
Others
Market Breakup by Region:
North America (United States, Canada)
Europe (Germany, France, United Kingdom, Italy, Spain, Others)
Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
Latin America (Brazil, Mexico, Others)
Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)
Key highlights of the report:
Market Performance (2015-2020)
Market Outlook (2021- 2026)
Porter’s Five Forces Analysis
Market Drivers and Success Factors
SWOT Analysis
Value Chain
Comprehensive Mapping of the Competitive Landscape
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About Us
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
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