Li-Fi Technology Market Report

Gradually increasing application of Li-Fi in different industry verticals such as aviation, retail, healthcare, and education is foreseen to enhance the growth potential of the global Li-Fi technology market. In June 2019, Air France announced that a new Li-Fi technology will be unveiled at the International Paris Air Show in Le Bourget through a partnership between the air carrier, Ubisoft, and Latécoère. High focus on Li-Fi application development could be a factor playing a crucial role in the growth of the global market. In July 2019, a new EU consortium revealed their Enhance Lighting for the Internet of Things (ELIoT) project concentrating on the development of mass market IoT solutions using Li-Fi.

Rising Popularity of Li-Fi due to Better Advantages than Wi-Fi to Improve Demand

Interesting advantages of Li-Fi over Wi-Fi such as better eco-friendliness, larger visible light spectrum, wider bandwidth, and less expensiveness are expected to improve the adoption of Li-Fi technology. High demand for smart devices could further add to the growth of the global Li-Fi technology market. Increasing installation of smart lighting systems in residential as well as commercial settings is foreseen to boost the global market growth. Growing requirement of improved indoor lighting infrastructure and high-speed wireless data communication could create sales opportunities for market players.

Companies to Form Intelligent Alliances for Li-Fi Development and Product Innovation

The report covers important companies operating in the global Li-Fi technology market, including pureLiFi, GE, LVX, Philips, Velmenni R&D Pvt. Ltd., VLNComm Inc., Panasonic Corporation, Acuity Brands, Inc., LightPointe Communication, LightBee Corporation, Siemens, and Renesas Electronics. Players are predicted to overtake Li-Fi startups and strategically collaborate with industry leaders to add strength to their product portfolios. In June 2019, pureLiFi, a Scottish Li-Fi innovation company, joined well-known communications and lighting leaders to create the Light Communications Alliance (LCA). The global association will work on the refining and development of deployment applications and key use cases of light communication technologies including Li-Fi.

By Component

●   LED

●   Photo Detector

●   Microcontroller

●   Others

By End Use

●   Automotive

●   Education

●   Retail

●   Healthcare

●   Government

●   Aerospace and Defense

●   Power and Utilities

●   Chemical

●   Transportation, Media, and Entertainment

●   IT and Telecommunications

Need to Drive down Energy Costs to Increase Adoption of Li-Fi-enabled LED Lighting

Li-Fi-enabled LED light bars are currently gaining much demand due to their better operating life and the need to reduce lighting-related energy costs. People have shown concerns regarding complicated disposal of fluorescent lamps because of the presence of toxic mercury within them. The ability of Li-Fi-enabled LED light bars to replace fluorescent tube lighting is another factor expected to augment their demand in the coming years.

Li-Fi technology finds lucrative application in retail, healthcare, and automotive industries. In healthcare, Li-FI systems are used for advanced management of highly sensitive data and improvement in operational efficiency with the help of geolocation and geofencing services.

By Region

Increasing Use of VLC Systems to Help North America Cement Strong Position

Early adoption of new and sophisticated technologies in North America is anticipated to help increase the growth of the Li-Fi technology market in the region. Launch of high-end Li-Fi-enabled products, development of smart buildings, and deployment of visible light communication (VLC) systems at retail locations could drive the demand for Li-Fi technology in the region.

In May 2019, Signify, a provider of connected LED lighting systems, software and services, showcased its latest offerings related to Li-Fi, lighting for IoT, and connected lighting at the LIGHTFAIR International 2019 in the US. One of the products featured at LIGHTFAIR was Philips LED InstantFit T8 VLC, an indoor lighting system, featuring VLC technology to enable location-based services.

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