LONDON--(BUSINESS WIRE)--According to the latest market study released by Technavio, the global Li-Fi market is expected to grow at a tremendous CAGR of close to 48% during the forecast period.
This research report titled ‘Global Li-Fi Market 2016-2020’ provides an in-depth analysis of the market in terms of revenue and emerging market trends. This market research report also includes up to date analysis and forecasts for various market segments and all geographical regions.
The Li-Fi market is at its nascent stage. There is an increasing demand for an alternative wireless communication technology due to crowding of the RF bandwidth, leading for adoption of Li-Fi technology during the forecast period. There is usage of Li-Fi technology based on LEDs, therefore it does not face distortions or spectrum deficits and can transfer data at very high speeds.
Abhishek Sharma, a lead M2M and connected devices research analyst, says, “The market is driven by the advantages offered by the Li-Fi technology that include power efficiency, last mile connectivity, and ultra-fast data transfer. In addition, unlicensed use, high data density, and data rates offered by the technology also has a positive impact on the market.”
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Based on application, the report categorizes the global Li-Fi market into the following segments:
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Global Li-Fi market by application 2015 (%) |
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| Indoor networking | 76.0% | |
| LBS | 13.5% | |
| In-flight communication and entertainment | 1.5% | |
| Underwater communication | 0.5% | |
| Other | 8.5% | |
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Source: Technavio |
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The top three revenue generating application segments for the global Li-Fi market are discussed below:
Global Li-Fi market by indoor networking
The indoor network segment is expected to grow rapidly during the forecast period. Indoor networking has penetrated the Li-Fi market. Retail and hospitality industries are using indoor networking systems to enhance the shopping and service experience of customers and improve the value delivered.
“The adoption of this technology, along with indoor position apps, will improve the targeted advertising of retailers and enhance their sales. Moreover, low data rates and existing infrastructure will reduce costs considerably. Also, interest shown by major lighting manufacturers like GE and Philips will further boost this market,” says Abhishek.
Global Li-Fi market by LBS
LBS gives precise location-specific information services such as advertising and navigation by enabling the recipient to receive suitable, relevant information in time, and accurate locations.
As GPS does not work in an indoor environment, the accepted technology for identifying location in this environment is the deployment of Wi-Fi AP. Li-Fi can be used as an alternative to Wi-Fi due to its ability to offer accurate indoor locations, as numerous LED luminaires are generally installed in a building. A typical building has 10 times more LEDs than Wi-Fi APs. Higher density of LEDs will ensure precise pinpointing of mobile devices, resulting in improved accuracy. The adoption of LED lighting networks for their energy efficiency will add to the growth of this market. Hence, the LBS segment is expected to grow rapidly during the forecast period.
Global Li-Fi market by in-flight communication and entertainment
Li-Fi technology can be used in aircrafts for entertainment or for providing internet access. Li-Fi could be used to lessen weight and cabling and increase flexibility to seating layouts in aircraft passenger cabins where LED lights are already installed. The diminished amount of wiring will reduce the weight of aircraft, and thereby increase fuel efficiency. LEDs used for illumination can be used to offer media services to passengers, thus reducing aircraft construction costs.
The in-flight entertainment systems can also be supported and incorporated with passengers’ mobile devices. This is facilitated as Li-Fi does not interfere with flight avionics or any other electrical equipment in the surrounding area. Hence, the in-flight communication segment is expected to grow rapidly during the forecast period.
The top vendors highlighted by Technavio’s research analysts in this report are:
- General Electric
- LVX System
- Oledcomm
- Philips
- pureLiFi
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