The global Li-Fi market is expected to exhibit growth at a robust
pace between 2016 and 2023. Massive bandwidth owing to the growing RF spectrum
crunch, together with a high degree of security and energy efficiency are
expected to bolster the global Li-Fi market.
While the features offered by Li-Fi and visible light
communications (VLC) are quite similar, unlike the latter, Li-Fi does not
require line-of-sight between receiver and transmitter. The technology offers
data transfer at high speed due to the presence of lesser interferences and
availability of large bandwidth over the network
. For instance, Li-Fi is
capable of delivering the same, if not greater, data transfer speed as compared
to a Wi-Fi access point.
Furthermore, internet video traffic is expected to grow
considerably in the coming years, with video projected to contribute to a
majority of consumer internet traffic. This increasing data production and
usage will eventually spur demand for wireless optical networks and RF-based
networks. These are prime factors that will aid the expansion of the Li-Fi market
worldwide.
The report provides a granular analysis of the growth trajectory
exhibited by the global Li-Fi market. The key factors encouraging the
large-scale deployment of Wi-Fi are analyzed in detail. The factors that market
players should guard themselves against are also evaluated in the report. Apart
from examining the strengths of and opportunities for the leading market
players, the report also presents insights into the threats and opportunities
that they could face in the near future.
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Global Li-Fi Market: Key Opportunities and
Threats
Increasing demand for applications in medical centers,
hospitals, and schools will give considerable impetus to the global Li-Fi
market. Since the technology involves visible light wavelengths and not radio
waves, it is less likely to have negative effect on human health. Experts often
compare Li-Fi to Free Space Optics (FSO) as it also utilizes light to transfer
data.
The market is also significantly gaining from the rising
adoption of LED worldwide due to benefits such as a longer life span, higher
efficiency, and lower maintenance it offers. Several countries such as Japan,
China, and the U.S. have already adopted initiatives for promoting energy
conservation using LED lighting technology. For instance, the Chinese
government is offering lucrative incentives, resources, and financial subsidies
to promote the adoption of LED lighting across industries. Furthermore, it has
also taken several steps to support and advance the capabilities of domestic
LED manufacturers.
On the flip side, the lack of awareness about the benefits
offered by the technology is negatively impacting Li-Fi market growth.
Misconceptions such as Li-Fi being line-of-sight in nature are also expected to
restrain market growth to an extent.
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