What Is The Current and Historic Market Size Analysis Of The Light Fidelity (Li-Fi)/Visible Light Communication Market?
The light fidelity (li-fi)/visible light communication market has seen considerable growth due to a variety of factors.
• The market size for light fidelity (Li-Fi)/visible light communication has seen tremendous expansion lately. It is projected to escalate from $560.87 billion in 2024, reaching $1215.15 billion in 2025, with a compound annual growth rate (CAGR) of 116.7%. The significant growth recorded in the historic period is driven by factors such as the demand for high-speed data transmission, the limited supply of radio spectrum, concerns over data security, the necessity for internet of things (IoT) connectivity, worries about energy efficiency, and the need for improved data transfer in certain environments.
What Are The Predictions for The Light Fidelity (Li-Fi)/Visible Light Communication Market By 2029?
The Light Fidelity (Li-Fi)/Visible Light Communication market is expected to maintain its strong growth trajectory in upcoming years.
• In the coming years, the market size for light fidelity (Li-Fi) / visible light communication is predicted to grow exponentially. The market is projected to reach $28829.77 billion in 2029 with an impressive compound annual growth rate (CAGR) of 120.7%.
This growth during the forecast period is tied to several contributing factors like the integration and coexistence of 5g, smart city initiatives, increased connectivity in sectors like retail and hospitality, healthcare communication solutions and deployment in educational institutions and workplaces. Some of the significant trends to look out for within this period include 5g network integration, utilization of Li-Fi in healthcare, retail and indoor navigation, secure communication, automotive connectivity, and sustainable connectivity.
Which Drivers Are Accelerating Growth In The Light Fidelity Li Fi or Visible Light Communication Market?
Growing anxieties about cyber security are anticipated to fuel the expansion of the light fidelity (Li-Fi)/visible light communication market in the future. Cyber security involves the protection of computers, servers, mobile gadgets, electronic systems, networks, and data from harmful attacks. Li-Fi, which employs visible light for data transmission, is regarded as more secure than its forerunner because security has been incorporated into the channel. Consequently, heightened worries about cyber security boost the demand for the Li-Fi/visible light communication market. For example, as reported by the Department of Defence Australia, a government department based in Australia, the Australian Cyber Security Centre saw over 94,000 reports of cybercrime during the fiscal year 2022-2023, indicating a 23 percent rise compared to the previous year, 2021-22. Hence, the escalating apprehension over cyber security is propelling the Li-Fi/visible light communication market.
What Are The Core Segments Of The Global Light Fidelity Li Fi or Visible Light Communication Market?
The light fidelity (Li-Fi)/visible light communication market covered in this report is segmented –
1) By Component: LED, Photodetectors, Microcontrollers (MCU)
2) By Transmission Type: Unidirectional, Bidirectional
3) By Application: Indoor Networking, LBS (Location Based Services), In-Flight Communication And Entertainment, Underwater Communication, Other Applications
4) By Industry Vertical: Retail, Electronics, Defense And Security, Automotive And Transport, Aerospace And Aviation, Healthcare, Other Industry Verticals
Subsegments:
1) By LED: Standard LEDs, OLEDs (Organic LEDs), RGB LEDs
2) By Photodetectors: Photodiodes, Avalanche Photodiodes, Phototransistors
3) By Microcontrollers (MCU): General-Purpose MCUs, Application-Specific MCUs
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Which Emerging Trends Are Reshaping The Light Fidelity Li Fi or Visible Light Communication Market Size?
Progress in technology is becoming a significantly popular trend in the light fidelity (Li-Fi)/visible light communication industry. Many leading corporations in this sector are dedicating resources towards the creation of innovative technological solutions tailored to client expectations. For instance, in May 2022, Signify, a Dutch organization specializing in Light fidelity (Li-Fi) and Visible light communication, introduced Trulifi, a range of commercially accessible Li-Fi configurations, inclusive of the fastest and most reliable systems globally. It has specialized features, such as using a light source to offer incredibly dependable, secure bidirectional wireless communication. Furthermore, it includes Philips lighting fixtures integrated with optical wireless transceiver technology. This suggests that customers can now enjoy superior lighting and wireless connectivity without modifying their existing lighting setup. It also facilitates wireless connectivity across expansive spaces, like meeting rooms and office complexes, boasting speeds up to 150 Mbps – fast enough to simultaneously stream 30 1080p HDTV movies.
Who Are the Key Players In The Light Fidelity Li Fi or Visible Light Communication Market?
Major companies operating in the light fidelity (Li-Fi)/visible light communication market include:
• General Electric Company
• Oledcomm SA
• Renesas Electronics Corporation
• PureLiFi Ltd.
• Lvx System GmbH
• Acuity Brands Lighting Inc.
• IBSENtelecom Ltd.
• Koninklijke Philips N.V.
• Panasonic Holdings Corporation
• Qualcomm Technologies Inc.
• Firefly Wireless Networks LLC
• Velmenni Oy
• Visilink Technologies Inc.
• Signify Holding B.V.
• VLNComm Inc.
• LumEfficient Inc.
• Plaintree Systems Inc.
• Casio Computer Co. Ltd.
• Axrtek Co. Ltd.
• Lightbee Corporation
• LightPointe Communications Inc.
• Samsung Electronics Co. Ltd.
• Toshiba Corporation
• Air France - KLM Group
• Airbus SE
• Audi AG
• The Boeing Company
• Continental AG
• Daimler AG
• Delta Air Lines Inc.
• Emirates Airline
• Etihad Airways PJSC
• Ford Motor Company
What Are The Regional Insights Into The Light Fidelity Li Fi or Visible Light Communication Market?
North America was the largest region in light fidelity (Li-Fi) /visible light communication in 2024. Asia-Pacific is expected to be the fastest-growing region in the light fidelity Li-Fi visible light communication market report during the forecast period. The regions covered in the light fidelity (Li-Fi)/visible light communication market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
