Li-Fi Market to Observe Prominent CAGR of 60% by 2027

A Quick Overview of Li-Fi Market

The key object of this report on the Li-Fi Market is to offer worthy data and a geographical perspective for predictions of market growth in the future. The recommendations added in this detailed report are insightful, and actionable offering a deep understanding of the industry. Moreover, it includes a comprehensive importance of aspects that have impacted the industry.

MarkNtel Advisors has recently studied an extensive market intelligence evaluation on the Li-Fi Market. Also, the newly released report exhibits an engaging format that comprises compelling graphs, tables, charts, and figures as well. These seamlessly combined visual aids are designed to support the clarity and accuracy of the details presented, offering analysts a deep knowledge of the topic at hand.

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Li-Fi Market Scenario:

The Global Li-Fi Market is expected to register more than 60% CAGR during the forecast period, i.e., 2022-27. Presently, the Li-Fi technology is in the early stage but gaining significant attention worldwide. The mounting demand for high-speed & secured data transmission across various industries would primarily drive the Li-Fi market globally in the future.

Besides, the projected crunch of RF spectrum, various ongoing & upcoming smart city projects promoted by governments of several countries worldwide, and the mounting adoption of advanced technologies like cloud computing, big data, etc., across several industries would further boost the global market through 2027.

Li-Fi Market - Industry Dynamics, Size, And Opportunity Forecast To 2027:

Market Driver – Overburdened RF Spectrum & Declining Prices of LEDs

With the rapidly rising number of users & devices, there's a substantial risk of RF (Radio Frequency) spectrum crunch in the coming years, as its size is limited. The Li-Fi technology uses a visible light spectrum for high-speed data transmission, which is different from & 10000 times larger than the RF spectrum currently used in WiFi technology. As a result, the gradually diminishing RF spectrum is projected to tremendously boost the adoption of Li-Fi technology and drive the Global Li-Fi Market through 2027.

Moreover, governments of various countries worldwide are actively encouraging the use of more and more LEDs, owing to their low power usage, better illumination, & zero harmful emissions. In fact, some nations are also offering LED lighting solutions at subsidized rates, which, as a result, has notably reduced their prices in the previous few years. The same trend is expected in the coming years, which would drive more users toward adopting Li-Fi systems and fuel the overall market growth.

Li-Fi Market Segmentation Analysis:

Li-Fi Industry, analyzes, identifies, and highlights the main trends and drivers which are affecting each segment of the market. The market has been further divided into the following categories:

By Components

LEDs
Microcontrollers
Photodetectors
Others (Optical Sensors, etc.)

By End-Users

Aerospace & Defense
Healthcare
Education
Retail
Automotive
Others (Transportation, Media & Entertainment, etc.)

By Region

North America
South America
Europe
Middle East & Africa
Asia-Pacific.

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Who are the Key Market Players in the Li-Fi Market?

In the fast-changing Li-Fi Market, understanding what our competitors are doing is crucial. By carefully analyzing things, we figured out some of the dominating players in the industry. So, the top companies of the Li-Fi market ruling the industry are:

List of Key Companies Profiled:

Acuity Brands, Inc.
Fujitsu Ltd.
Fsona Networks Corporation
General Electric
Global Li-Fi Tech, Inc
Integrated System Technologies Ltd
Lightbee S.L.
LumEfficient Lighting Corporation
LVX System
Lucibel SA
Oledcomm SAS
Panasonic Corporation
PureLiFi Limited
Renesas Electronics Corporation
Signify Holding B.V.
Velmenni OÜ
VLNComm Inc

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