Global Light Fidelity (Li-Fi)/Visible Light Communication is expected to reach $115 billion by 2022, growing at a CAGR of 116.8% during 2016 – 2022. Li-Fi technology facilitates bidirectional, high speed communication through wireless channel by utilizing visible light spectrum in a closed controlled environment such as hospital, airplane, shopping complex, office, and vehicle among others. It is used to provide communication between electronic devices with the help of visible light particularly LED bulbs.
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Need of high speed data transmission, data security, impending RF spectrum crunch, and several technological superiorities over Wi-Fi technology majorly drives the Li-Fi market. Apart from being economical, Li-Fi offers several technological advantages over currently prevailing Wi-Fi technology which include, nearly 100 times faster speed of data transmission, enhanced data security, no electromagnetic interference, and less power consumption. However, limited range of communication limits the applicability of Li-Fi as it is best used in a closed control environment while the presence of other light sources hampers its speed. Although, extensive research in this field is anticipated to fuel up the demand in the market in the upcoming years.
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The Li-Fi market is segmented on the basis of component, industry vertical, and geography. Based on component, the market is segmented into LED, photo detector, and microcontroller (MCU). Furthermore, the market is categorized on the basis of industry vertical which include retail, electronics, defense & security, automotive & transport, aerospace & aviation, healthcare, and others. Further, the market is analyzed on the basis of four regions, namely, North America, Europe, Asia-Pacific, and LAMEA.
RF Spectrum Crunch Will Fuel Up The Market
The Li-Fi technology utilizes visible light spectrum for data transmission, which is different from radio frequency spectrum used in currently prevailing Wi-Fi technology. According to reports of US federal communication commission, radio frequency spectrum is slowly moving towards a spectrum crisis as its spectrum size is limited and the number of devices are increasing with time. On the contrary, Li-Fi uses visible light spectrum which is 10,000 times larger than whole RF spectrum. The impending RF spectrum crunch is expected to give boost to the adoption of Li-Fi technology and this will swell up the demand in overall Li-Fi market in years to come.
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