In a recent published report, Kenneth Research has updated the market report for Li-Fi Market for 2021 till 2030. Report further now discusses; the various strategies to be adopted or being adopted by the business players across the globe at various levels in the value chain. In the view of the global economic slowdown, we further estimated that China, India, Japan and South Korea to recover fastest amongst all the countries in the Asian market. Germany, France, Italy, Spain to take the worst hit and this hit is expected to be regain 25% by the end of 2021- Positive Growth in the economic demand and supply.
U.S. Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analsysis and U.S. Census Bureau mentions the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) avergae exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilest imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Li-Fi Market products.
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Moreover, increase in ICT spending around the globe for hardware, software, services, new technologies and telecom among others is also anticipated to contribute to the growth of the market in the coming years. The spending on new technologies recorded around USD 0.6 million in 2018 and is further estimated to reach close to USD 1.3 million by 2023. The total ICT spending around the globe further recorded close to USD 5 million in 2019 and is further projected to touch USD 6 million by 2023
Li-Fi is an emerging technology similar to Wi-Fi, with a speed of 224 gigabytes per second that is 100 times faster than Wi-Fi service. The prevailing benefit of light emitting diode is fuelling the light fidelity market. That includes dynamic color translation, long life span, energy efficient, resistant to low temperature, very low lighting period (nanosecond) and strong protective layer is aiding the growth of LED in LI-FI. The average lasting period of LED light is quite high as compared to halogen bulb that results into less maintenance and replacement cost of LED bulbs which is further boosting the adoption of LED in LI-FI. A LED creates a binary sequence that helps in transmitting data by switching on-off millions times a LED bulb.
The data transmit changes are so fast, that it cannot be viewed by human eye and is capable of sending all kind of data that includes audio, video and broadband at a speed of 1Gb/s than 150mb/s for Wi-Fi. Li-Fi signal travels through narrow focus beams and does not pass through walls. Besides, LED lights is a natural beam former that makes it easy to create separate uplink and downlink channel, that results into more secure internet browsing. Factors such as low power consumption and high durability is increasing the usage of LED lighting system in Li-Fi.
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The Li-Fi network comprise of LED lighting technology to transmit electronic data signals that enable users to access the internet through ordinary lighting system in school, colleges and home. The energy efficient LED and secure wireless network is boosting the Li-Fi market. The growing internet usage through smartphone and other electronic gadgets is further fuelling the growth of Li-Fi market
The Li-Fi signal cannot penetrate through walls owing to sensor technology that fails to transmit the digital information in presence of an obstacle. This problem of data transmission through wall can be overcome by switching to radio frequency that allows data penetration through walls. Due to data transfer limitation, there will be need for Wi-Fi network and radio frequency cellular system in remote area that consists of trees, walls and other obstacles. The absence of line of sight in transmission of data through walls is hampering the Li-Fi market.
The global Li-Fi market is expected to grow approximately at USD 50,985.46 Million by 2023, approx. 70.20% of CAGR between 2017 and 2023.
Key Players
The key players of Li-Fi market includes General Electric (U.S.), Koninklijke Philips N.V. (Netherlands), Oledcomm (France), PureLiFi Limited (U.K.), Panasonic Corporation (Japan), Acuity Brands, Inc. (U.S.), LightPointe Communications, Inc. (U.S.), Velmenni (Tartu), LightBee Corporation (U.S.), FSONA Networks (U.K.) and others.
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Global Li-Fi Market Analysis & Forecast, from 2017 to 2023
• To provide detailed analysis of the market structure along with forecast of the various segments and sub-segments of the Li-Fi market.
• To provide insights about factors affecting the market growth.
• To analyze the Li-Fi market based on porter’s five force analysis etc.
• To provide historical and forecast revenue of the market segments and sub-segments with respect to four main geographies and their countries- North America, Europe, Asia, and Rest of the World.
• To provide country level analysis of the market with respect to the current market size and future prospective.
• To provide country level analysis of the market for segment on the basis of component, application and end user.
• To provide strategic profiling of key players in the market, comprehensively analyzing their core competencies, and drawing a competitive landscape for the market.
• To track and analyze competitive developments such as joint ventures, strategic alliances, mergers and acquisitions, new product developments, and research and developments in the Li-Fi market.
Target Audience
• Device manufacturers
• Network Operators
• Distributors
• Suppliers
• Research firms
• Software Developers
• Commercial Banks
• Vendors
• Semiconductor Manufacturers
• End-user sectors
• Technology Investors
Key Findings
• The global Li-Fi market is expected to reach USD 50,985.46 Million by 2023.
• By Component, LED sub segment in Li-Fi market accounts for the largest market share and is growing with approximately ~71% CAGR during forecast period.
• By Application, smartphone segment holds the largest market growing with approximately 71% CAGR by the end of forecast period.
• By End User, retail sub segment holds the largest market share and is growing with approximately 72% CAGR by the end of forecast period.
• Geographically, Asia-Pacific region has been projected to have the largest market share in global Li-Fi market followed by Europe region, while North America ranks third in the Li-Fi market.
Regional and Country Analysis of Li-Fi Market Estimation and Forecast
Li-Fi Market is growing with the positive growth in all the regions. Increasing application areas year on year and advancement in technology and integration is driving the market on global scale. On the basis of region, the market has been segmented into North America, Europe, Asia-Pacific and Rest of the World. North America is estimated to account for the largest share of the market, whereas Asia-Pacific is projected to grow at the fastest rate during the forecast period. The major growth in Li-Fi market in North America is attributed to increasing demand for energy efficient devices and increasing demand for high speed data communication in the region
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The reports also cover country level analysis:
• North America
o US
o Canada
o Mexico
o Others
• Europe
o Germany
o UK
o France
o Rest of the Europe
• Asia – Pacific
o China
o India
o Japan
o Rest of Asia-Pacific
• Rest of the World
About Us
Kenneth Research is a reselling agency providing market research solutions in different verticals such as Automotive and Transportation, Chemicals and Materials, Healthcare, Food & Beverage and Consumer Packaged Goods, Semiconductors, Electronics & ICT, Packaging, and Others. Our portfolio includes set of market research insights such as market sizing and market forecasting, market share analysis and key positioning of the players (manufacturers, deals and distributors, etc), understanding the competitive landscape and their business at a ground level and many more. Our research experts deliver the offerings efficiently and effectively within a stipulated time. The market study provided by Kenneth Research helps the Industry veterans/investors to think and to act wisely in their overall strategy formulation.
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