LiFi (Light Fidelity) Market to grow at a CAGR of 64.84% from 2022 to 2027, An increase in end-user applications will drive market growth - Technavio
NEW YORK, March 27, 2023 /PRNewswire/ -- The global LiFi (light fidelity) market size is estimated to increase by USD 7,325.58 million from 2022 to 2027. The market's growth momentum will progress at a CAGR of 64.84% during the forecast period. The increase in end-user applications is the leading trend in the global light fidelity market growth. Numerous sectors benefit from using light-fidelity systems. Additionally, LiFi also ensures a shift from RF communication in industrial sectors such as mining, oil and gas, and petrochemicals to eliminate any problem related to safety. The Walt Disney Company also plans to use these systems for communicating with toys. Thus, these applications will ensure the rapid adoption of LiFi technology in the consumer electronics sector during the forecast period.
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LiFi (light fidelity) market – Vendor Analysis
Vendor Landscape - The global LiFi (light fidelity) market is fragmented with the presence of several global as well as regional vendors. A few prominent vendors that offer LiFi (light fidelity) in the market are Acuity Brands Inc., Fujitsu Ltd., General Electric Co., Global LiFi Tech, Koninklijke Philips NV, KYOCERA corp., LIFX, LightBee SL, Lucibel SA, Luciom, LumEfficient Lighting Corp., LVX System, nextLiFi, Oledcomm, pureLiFi Ltd., Signify NV, Velmenni, VLNComm Inc., Wipro Ltd., and Zero1 Pte Ltd. and others.
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Global competitiveness and key competitor positions
Market presence across multiple geographical footprints - Strong/Active/Niche/Trivial - Buy the report!
Vendor Offerings -
Acuity Brands Inc. - The company offers LiFi services such as eldoLED ECOdrive.
Fujitsu Ltd. - The company offers LiFi solutions such as LED Lighting Technology that Shines Data on Objects.
General Electric Co. - The company offers LiFi services such as LED plus Linkable Motion.
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LiFi (Light Fidelity) Market - Segmentation Assessment
Technavio has segmented the market based on application (indoor networking, LBS, IFCE, underwater communication, and others), end-user (retail, consumer electronics, automotive and transportation, healthcare, and others), and geography (North America, APAC, Europe, South America, and Middle East and Africa).
The market share growth by the indoor networking segment will be significant for the global market growth during the forecast period. The segment is expected to grow rapidly during the forecast period. The retail and hospitality industries use indoor networking systems to enhance the shopping and service experience of customers and improve the value that they deliver. Due to the intrinsic characteristics of light, the light fidelity network is more secure, more power-efficient, and can provide higher network data transmission rates than radio frequency communications. The adoption of this technology, along with indoor position apps, is estimated to improve the targeted advertising of retailers and enhance sales. The rapid increase in the use of LEDs and their ability to perform dual functions of illumination as well as communication provides a unique opportunity for LiFi to be used for indoor lighting. Furthermore, low data rates and the use of existing infrastructure help in cost reduction considerably.
By geography, the global LiFi (light fidelity) market is segmented into North America, APAC, Europe, South America, and Middle East and Africa. The report provides actionable insights and estimates the contribution of all regions to the growth of the global LiFi (light fidelity) market.
North America is estimated to contribute to 38% of the growth of the global market during the forecast period. The use of radiofrequency for WiFi has created a severe spectrum crunch in North America, which has led to a decline in the bandwidth offered, thus affecting high-speed communications. Hence, the new disruptive light fidelity (LiFi) technology is expected to take over the WiFi market in applications such as horticultural lighting, industrial and commercial, and marine lighting. Hence, the demand for faster and safer wireless communication in the region will likely drive the adoption of this technology in the region.
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LiFi (Light Fidelity) Market – Market Dynamics
Leading Drivers -
An increase in end-user applications is a major factor that has the potential to drive the growth of the global light fidelity market. LiFi is a new wireless data transfer technology, which is significantly fast and ensures better security than any other competing technology. This technology is used in offices requiring a secure and very fast network for exchanging, transferring, and sending files. LiFi utilizes light waves whereas WiFi uses radio waves. LiFi uses LED lights that can quickly transfer data from and to supported devices. Furthermore, the use of light fidelity is safe because it does not use radio frequencies that may harm nature and people.
Major challenges -
The dominance of competing technologies is a major challenge that may impede the growth of the global light fidelity market. WiFi and WiMAX technology-based devices have dominated the communications industry for decades and have replaced analog and digital technologies used in various sectors. Smart systems, such as smart homes, connected cars, smart manufacturing, and smart grid management, have gained momentum due to the introduction of high-speed internet services from leading Internet service providers, such as AT and T, Comcast, Sprint, and Verizon. Hence, the introduction of various competing technologies may impede the growth of the market in focus during the forecast period.
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What are the key data covered in this LiFi (Light Fidelity) Market report?
CAGR of the market during the forecast period
Detailed information on factors that will drive the growth of the LiFi (light fidelity) market between 2023 and 2027
Precise estimation of the size of the LiFi (light fidelity) market and its contribution to the parent market
Accurate predictions about upcoming trends and changes in consumer behavior
Growth of the LiFi (light fidelity) market across North America, APAC, Europe, South America, and Middle East and Africa
A thorough analysis of the market's competitive landscape and detailed information about vendors
Comprehensive analysis of factors that will challenge the growth of LiFi (light fidelity) market vendors
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LiFi (Light Fidelity) Market Scope
Growth momentum & CAGR
Accelerate at a CAGR of 64.84%
Market growth 2023-2027
USD 7,325.58 million
YoY growth 2022-2023 (%)
North America, APAC, Europe, South America, and Middle East and Africa
Performing market contribution
North America at 38%
US, China, Japan, Germany, and UK
Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks
Key companies profiled
Acuity Brands Inc., Fujitsu Ltd., General Electric Co., Global LiFi Tech, Koninklijke Philips NV, KYOCERA corp., LIFX, LightBee SL, Lucibel SA, Luciom, LumEfficient Lighting Corp., LVX System, nextLiFi, Oledcomm, pureLiFi Ltd., Signify NV, Velmenni, VLNComm Inc., Wipro Ltd., and Zero1 Pte Ltd.
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period
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Table of Contents
1 Executive Summary
1.1 Market overview
2 Market Landscape
2.1 Market ecosystem
3 Market Sizing
3.1 Market definition
3.2 Market segment analysis
3.3 Market size 2022
3.4 Market outlook: Forecast for 2022-2027
4 Historic Market Size
4.1 Global LiFi market 2017 - 2021
4.2 Application Segment Analysis 2017 - 2021
4.3 End-user Segment Analysis 2017 - 2021
4.4 Geography Segment Analysis 2017 - 2021
4.5 Country Segment Analysis 2017 - 2021
5 Five Forces Analysis
5.1 Five forces summary
5.2 Bargaining power of buyers
5.3 Bargaining power of suppliers
5.4 Threat of new entrants
5.5 Threat of substitutes
5.6 Threat of rivalry
5.7 Market condition
6 Market Segmentation by Application
6.1 Market segments
6.2 Comparison by Application
6.3 Indoor networking - Market size and forecast 2022-2027
6.4 LBS - Market size and forecast 2022-2027
6.5 IFCE - Market size and forecast 2022-2027
6.6 Underwater communication - Market size and forecast 2022-2027
6.7 Others - Market size and forecast 2022-2027
6.8 Market opportunity by Application
7 Market Segmentation by End-user
7.1 Market segments
7.2 Comparison by End-user
7.3 Retail - Market size and forecast 2022-2027
7.4 Consumer electronics - Market size and forecast 2022-2027
7.5 Automotive and transportation - Market size and forecast 2022-2027
7.6 Healthcare - Market size and forecast 2022-2027
7.7 Others - Market size and forecast 2022-2027
7.8 Market opportunity by End-user
8 Customer Landscape
8.1 Customer landscape overview
9 Geographic Landscape
9.1 Geographic segmentation
9.2 Geographic comparison
9.3 North America - Market size and forecast 2022-2027
9.4 APAC - Market size and forecast 2022-2027
9.5 Europe - Market size and forecast 2022-2027
9.6 South America - Market size and forecast 2022-2027
9.7 Middle East and Africa - Market size and forecast 2022-2027
9.8 US - Market size and forecast 2022-2027
9.9 China - Market size and forecast 2022-2027
9.10 Germany - Market size and forecast 2022-2027
9.11 Japan - Market size and forecast 2022-2027
9.12 UK - Market size and forecast 2022-2027
9.13 Market opportunity by geography
10 Drivers, Challenges, and Trends
10.1 Market drivers
10.2 Market challenges
10.3 Impact of drivers and challenges
10.4 Market trends
11 Vendor Landscape
11.2 Vendor landscape
11.3 Landscape disruption
11.4 Industry risks
12 Vendor Analysis
12.1 Vendors covered
12.2 Market positioning of vendors
12.3 Acuity Brands Inc.
12.4 Fujitsu Ltd.
12.5 General Electric Co.
12.6 Global LiFi Tech
12.7 Koninklijke Philips NV
12.8 KYOCERA corp.
12.9 Lucibel SA
12.10 LumEfficient Lighting Corp.
12.11 LVX System
12.14 pureLiFi Ltd.
12.15 Signify NV
12.17 Zero1 Pte Ltd.
13.1 Scope of the report
13.2 Inclusions and exclusions checklist
13.3 Currency conversion rates for US$
13.4 Research methodology
13.5 List of abbreviations
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