Global Light Fidelity (Li-Fi) Technology Market is Expected to Reach $35.82 Billion by 2028 Growing at a CAGR of 71.20% During 2018 - 2028

Global Light Fidelity (Li-Fi) Technology Market is Expected to Reach $35.82 Billion by 2028 Growing at a CAGR of 71.20% During 2018 - 2028

PR Newswire

FREMONT, California, October 31, 2018

FREMONT, California, October 31, 2018 /PRNewswire/ --

According to a market intelligence report by BIS Research, titled 'Global Li-Fi Technology Market - Analysis and Forecast, 2018-2028", the light fidelity (Li-Fi) technology market was estimated at $88.0 million in 2017 and is expected to reach $35.82 billion by 2028, growing at a CAGR of 71.20%, during the forecast period. The Li-Fi technology uses LED bulbs for transmitting data where they act as both emitter and photodiode for detecting the light.  Also, the transition from CFL and bulbs to LED's acts as a major driving force for Li-Fi technology. Owing to its benefits such as reliability, fast response, and the rising demand for higher bandwidth is anticipated to drive the market during the forecast period of 2018 - 2028.

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Browse 18 market Data Tables and 77 Figures spread through 149 Pages and in-depth TOC on "Global Li-Fi Technology Market"

The adoption of Li-Fi technology is rapidly gaining momentum and factors such as adoption of light emitting diode (LED), superior properties of Li-Fi, and increased demand for wireless networks are responsible for the growth of the Li-Fi technology market. The lighting industry has progressed a lot with transformational technological shifts from incandescent, halogen incandescent, fluorescent tube lamp technology, compact fluorescent lamps (CFLs) to light emitting diodes (LEDs). These technological shifts have improved the energy efficiency to cater to the global energy crisis.

Due the ongoing changes in the industry, a detailed chapter on the market dynamics including the key driving and restraining forces, along with the opportunities for the global Li-Fi technology market during the forecast period has been included in the report. The market numbers play an important role in the industry, following which a proper market sizing and estimation by components, applications, and geographical location has been undertaken for the industry. The application segment of the market for Li-Fi technology has been analyzed for healthcare, education, retail, aviation and museum segments, among others.

BIS Research Report: https://bisresearch.com/industry-report/li-fi-technology-market.html

According to Yash Agrawal, Analyst at BIS Research, "The global Li-Fi technology market is expected to grow at a CAGR of 71.2% in terms of value during the forecast period (2018-2028). Healthcare is among the early adopters of this technology owing to its usage which does not interfere with the radio waves. Additionally, this technology has a tremendous potential for the retail application. Geographically, Europe is dominating the market at present for Li-Fi technology. However, the APAC region is expected to witness the highest growth rate during the forecast period (2018-2028), owing to various factors such as growth in the usage of smartphones and other devices, demand for high speed and fully secured wireless communications, among others."

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The market report provides a detailed analysis of the recent trends influencing the market, along with a comprehensive study of the future trends and developments. It also includes a competitive analysis of the leading players in the industry, including corporate overview, financials, financial summary and SWOT analysis. The overall market has been segmented by component types along with end-users. The report also includes a comprehensive section on the geographical analysis which has been sub-segmented into four major regions, namely, North America, Europe, Asia-Pacific and Rest-of-the-World (RoW).

The report is a meticulous compilation of research on approximately 50 players in the Li-Fi technology market. Moreover, it draws insights from in-depth interviews of key opinion leaders of more than 15 leading companies, market participants, and vendors. The report also profiles around 21 companies which are key contributors in the market, including pureLiFi, Signify Holding, OLEDCOMM, Acuity Brands, Inc., FIREFLY WIRELESS NETWORKS, LLC, Panasonic Corporation, Samsung Electronics Co., Ltd., Qualcomm Incorporated, and others.

Key questions answered in the report 

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About BIS Research:  

BIS Research is a global B2B market intelligence and advisory firm focusing on those emerging technological trends which are likely to disrupt the dynamics of the market. With over 150 market research reports published annually, BIS Research focuses on high technology verticals such as 3D Printing, Advanced Materials and Chemicals, Aerospace and Defense, Automotive, Healthcare, Electronics and Semiconductors, Robotics and UAV, and other emerging technologies.

Our in-depth market intelligence reports focus on the market estimations, technology analysis, emerging high-growth applications, deeply segmented granular country-level market data, and other important market parameters useful in the strategic decision-making for senior management.

What distinguishes BIS Research from the rest of the players is that we don't simply provide data but also complement it with valuable insights and actionable inputs for the success of our clients.

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