The global light fidelity market revenue is expected to expand at a significant CAGR over the forecast period. Light fidelity is also known as LiFi, uses light emitting diode (LED) lights for data transmission and communication purposes. LiFi provides a secure data connection with no interference. Light fidelity can achieve up to 1000 times data density than current Wi-Fi network. It is a very efficient technology that can be accessed by a single lamp in public or private lighting areas.
However, Limitations of light fidelity technology such as inactive in the absence of light and lack of awareness regarding LiFi technology in the developing countries, are some factors may hamper the demand of the LiFi and restrain the growth of the target market in the near future.
The global light fidelity market report has been segmented on the basis of components, industry vertical, and region. On the basis of product type, the market is segmented into microcontrollers, light emitting diode (LED), and photodetectors. Currently, the light emitting diode segment dominates the global market in terms of revenue and expected to maintain its position over the forecast period, owing to its high adoption rate and low cost. On the basis of industry vertical, the market has segmented into defense and security, aviation and aerospace, electronics, healthcare, automotive, and retail. Retail segment is dominated the global market in terms of revenue. Healthcare segment is expected to witness the fastest growth in the global market in terms of revenue, owing to its safe use and lack of signal interference with medical instruments in hospitals.
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Based on the region the target market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The North America is expected to dominate the global market in terms of revenue over the forecast period, owing to presence of key players in this region. The Asia Pacific market is expected to witness a significant growth in terms of revenue over the long run.
Key players operating in the global light fidelity market include General Electric Company, Oledcomm S.A.S, Renesas Electronics Corporation, pureLiFi Ltd., LVX System, Acuity Brands Lighting, Inc., Qualcomm Technologies, Inc., IBSENtelecom Ltd., Koninklijke Philips N.V., and Panasonic Corporation.