The global Li-Fi market is expected to reach a market size of USD 14,913.3 Million by 2028 and register a high revenue CAGR, according to latest analysis by Emergen Research. Increasing demand for high-speed networks is a primary factor expected to drive growth of the global Li-Fi market during the forecast period. Growing demand for highly secure network systems in various industries is expected to further propel global market growth during the forecast period. Increasing demand for indoor networking in the retail industry globally is another factor expected to boost growth of the global Li-Fi market growth over the forecast period.
The increasing demand for fast data transfer is one of the most important and significant factors driving the growth and expansion of the worldwide LiFi industry. Furthermore, the solutions available on the worldwide LiFi market provide greater security while still delivering data at phenomenal rates of 224GB per second. In the upcoming years, it is anticipated that this tendency will increase demand for the worldwide LiFi market. The growing use of the goods and solutions in the worldwide LiFi market in a variety of electromagnetically sensitive environments, such as nuclear power plants, aeroplanes, and hospitals, is also contributing to the industry’s expansion.
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Our report contains current and latest market trends, market shares of companies, market forecasts, competition benchmarking, competition mapping and an in-depth analysis of the most important sustainability tactics and their impact on market growth and competition. To estimate quantitative aspects and segment the global Li-Fi Market , we used a recommended combination of top-down and bottom-up approaches.
Competitive Landscape
The big data analytics in the retail market is fragmented. The growth of e-commerce, online shopping, and high competition for customer loyalty, provides lucrative opportunities in big data analytics in the retail market. Overall, the competitive rivalry among existing competitors is high. Moving forward, different kind of innovation strategies of large companies boosting the market growth effectively. Some of the key developments in the area are: Oledcomm SAS, Panasonic Corporation, Signify Holding B.V., Velmenni OÜ, Renesas Electronics Corporation, PureLiFi Limited, Fsona Networks Corporation, Acuity Brands, Inc., Lucibel SA, and VLNComm Inc.
Some Key Highlights from the Report :
Increasing LED implementation in various industries is driving revenue growth of the LED segment currently, which is expected to register a significantly high CAGR of 70.4% over the forecast period.
In terms of revenue share, the indoor networking segment is expected to lead during the forecast period due to rising application of Li-Fi-based indoor networking systems in healthcare, retail, and education sectors.
Based on end-use, the retail segment is expected to account for the largest market share during the forecast period due to increasing implementation of Li-Fi technology in retail sector to enhance shopping experience.
Due to increasing need for energy-efficient devices, and growing demand for high-speed bandwidth in countries in North America, the market in the region is expected to account for the largest market share among other regional markets during the forecast period.
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The report also studies the key companies of the Li-Fi Market along with analysis of their business strategies, M&A activities, investment plans, product portfolio, financial standing, gross profit margin, and production and manufacturing capacities.
Emergen Research has segmented the global Li-Fi market on the basis of component, application, end-use, and region.
Component Outlook (Revenue, USD Million; 2021–2028)
- Photo-Detector
- LEDs
- Microcontroller
- Optical Sensing
- Others
Application Outlook (Revenue, USD Million; 2021–2028)
- Underwater Communication
- Standalone Tracker
- Indoor Networking
- Smartphone
- Advance Tracker
- Location-Based Services
- Others
End-use Outlook (Revenue, USD Million; 2021–2028)
- Healthcare
- Aerospace & Defense
- Education
- Retail
- Automotive
- Government
- Transportation
- Consumer Electronics
- Others
Regional Outlook (Revenue, USD Billion; 2021–2028)
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- U.K.
- France
- BENELUX
- Rest of Europe
- Asia Pacific
- China
- Japan
- South Korea
- India
- Rest of APAC
- Latin America
- Brazil
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- UAE
- Rest of MEA
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Why should you buy this Li-Fi Market report?
The study paper dissects the total market potential of major regions with strengths, opportunity and challenge, constraints, and dangers.
By identifying the high-improvement locations, the study inspects the open entryways, keeping an eye out for accomplices.
It examines each submarket in terms of a single improvement design and its contribution to the market.
It examines the recent developments, such as advancements, business strategies, new product releases, and acquisitions.
It purposefully profiles the major market players and thoroughly investigates their advancement strategies.
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