The global
report on the Li-Fi market shows a prospect of reaching a USD
51 billion market valuation by 2023 while recording an impressive 70% CAGR
during the forecast period of 2018 to 2023. Li-Fi is an emerging technology
that uses light signals to create connections or transmit signals. Its feature
of providing almost 100 times faster connectivity than Wi-Fi is expected to
impact the market significantly. At the same time, countries are investing
funds to develop better research and development scope and create a market for
this new technology. Its inclusion in gadgets, healthcare, aerospace, defense,
and other sectors may also trigger remarkable growth.
Segmentation:
MRFR
analysts have analyzed the global Li-Fi market on the basis of component,
application, and end user. These segments and the fetched data from the study
are expected to boost the strategy-devising methods.
By
component, the global market report on the Li-Fi market has been segmented into
LED, optical sensing, photodetector, microcontroller, and others.
By
application, the global discussion on the Li-Fi market includes details from
segments like smartphones, advance trackers, standalone trackers, and others.
By end user, the Li-Fi market is getting backed by an analysis of segments like aerospace & defense, healthcare, education, transportation, consumer electronics, automotive, government, retail, and others.
Regional
Analysis:
North
America and Europe have the infrastructural benefit and investment capacity to
bolster their respective regional markets' growth. However, emerging nations
are expected to push the Asia Pacific market with substantial momentum.
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Competitive Landscape:
Koninklijke
Philips N.V. (the Netherlands), General Electric (U.S.), PureLiFi Limited
(U.K), Oledcomm (France), Acuity Brands, Inc. (U.S.), Panasonic Corporation
(Japan), Velmenni (Tartu), LightBee Corporation (U.S.), LightPointe
Communications, Inc. (U.S.), FSONA Networks (U.K), and others are some of the
major Li-Fi market players who introduce new tactics all the time to ensure better
prospects for the global market. They have introduced some substantial changes
in the last few years in terms of marketing strategies and MRFR analysts have
recorded the process to understand how well trends are impacting the market to
bolster changes for the upcoming days.
Industry
News:
In August
2020, Oppo is all set to emerge as the first smartphone maker to propose a
Li-Fi compatible consumer device. In other words, it will send light signals
instead of radio waves. Oppo is expected to launch their new device in
September 2020. The company is not going to discard the Wi-F10i technology at
present, however, they will present an alternative to get the attention of the
people. The technology is rare but it has been tested in various companies,
shops, hospitals, and aircraft. The intention is to reach a transfer speed that
would be at least 100 times faster than the Wi-Fi technology.
During the
COVID-19 crisis, several markets got hit by the disruption in production and
support systems. However, with the countries relaxing the norms, the market has
started to launch innovations and announce partnerships that can boost the
market growth.
TABLE OF CONTENTS:
1.
MARKET INTRODUCTION
2.
RESEARCH METHODOLOGY
3.
MARKET DYNAMICS
4.
EXECUTIVE SUMMARY
5.
MARKET FACTOR ANALYSIS
6.
QUANTUM DOTS MARKET, BY
SEGMENTS
7. COMPETITIVE ANALYSIS
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