Li-Fi Market Size By Component (Microcontroller, Photodetector, LED), By Application (Indoor Networking, Aerospace, Automotive, Healthcare, Location Based Services, Underwater Communication, Defense & Security, Intrinsically Safe Environments), Industry Analysis Report, Regional Outlook, Application Potential, Price Trends, Competitive Market Share & Forecast, 2020 – 2030

Published Date: Jun 2020  |  Report ID: GMI462  |  Authors: Preeti Wadhwani, Prasenjit Saha

Report Format: PDF   |   Pages: 209   |   Base Year: 2019




Summary Table of Contents Industry Coverage Methodology

Industry Trends

(Light Fidelity) Li-Fi Market size exceeded USD 70 million in 2019 and is poised to grow at a CAGR of over 50% between 2020 and 2030. Rapidly increasing smartphone penetration coupled with growing consumption of data will drive the market growth.
 

Increasing utilization of connected devices in business establishments has led to a growing demand for indoor distributed networks. Indoor wireless connectivity through Li-Fi enables business users to make calls, send & receive email, and access the internet at high speeds. The ability of Li-Fi to transfer high volumes of data without any interference from existing radio frequencies will augment the market demand.
 

The growing trend of implementing Li-Fi technology in applications such as healthcare and security is providing a positive outlook for the market. It is encouraging government authorities to invest in R&D initiatives to spur the industry growth.
 

Li-Fi market

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One of the major factors hampering the Li-Fi market growth is the high implementation cost. The enhanced performance of these systems is achieved through high-power LEDs, photodetectors, and microcontrollers. The high cost of these components adds up to the overall cost of Li-Fi systems, impacting their demand. Moreover, the complex architecture of these systems requires the services from trained professionals for installation and maintenance, thereby challenging the industry growth. However, market players are focusing on reducing the production cost of Li-Fi components to encourage its commercialization.
 

The outbreak of COVID-19 health crisis in January 2020 has led to a slowdown in the growth of market, posing several industry challenges. Disruptions in supply chain and restrictions on movement have impacted international trade. This has caused a disturbance in manufacturing and business operations of industry players, hampering the market revenue. Moreover, increasing consumer inclination towards purchasing essential commodities is expected to restrict the adoption of new technologies such as Li-Fi, impacting the market size in 2020.
 

Li-Fi Market Report Coverage
Report Coverage Details
Base Year: 2019 Market Size in 2019: USD 70 million (2019)
Historical Data for: 2016 to 2019 Forecast Period: 2020 to 2030
Forecast Period 2020 to 2030 CAGR: 50% 2030 Value Projection: USD 8 Billion (2030)
Pages: 209 Tables, Charts & Figures: 206
Geographies covered (16): U.S., Canada, UK, Germany, France, Italy, Russia, China, Japan, South Korea, India, Brazil, Mexico, Saudi Arabia, UAE, South Africa
Segments covered: Component, Application
Companies covered (19): Acuity Brands, Inc, Fujitsu Ltd., General Electric, Global Li-Fi Tech, Inc, Integrated System Technologies Ltd, Lightbee S.L., Lucibel SA, LumEfficient Lighting Corporation, LVX System, Oledcomm S.A.S., Panasonic Corporation , PureLiFi Limited, Qualcomm Technologies, Inc, Renesas Electronics Corporation, Signify N.V., SLD Laser, Velmenni, VLNComm,Inc, Zero1 Lux
Growth Drivers:
  • Growing demand for indoor networking in the commercial sector
  • Increasing implementation of Li-Fi in healthcare and education sectors in Europe
  • Rise in penetration of smart devices in Asia Pacific
  • Construction of smart cities and commercial establishments in MEA
Pitfalls & Challenges:
  • High initial cost of installation of Li-Fi systems
  • Lack of awareness related to benefits of Li-Fi

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Growing adoption of LEDs in commercial and industrial sector

Li-Fi Market, By Component

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The LED component segment held a market share of around 45% in 2019 and is anticipated to reach USD 600 million by 2025. This growth can be attributed to rising deployment of LEDs in commercial establishments and industries. Several benefits of LEDs such as durability, low power consumption, and high energy output are proliferating their demand in the Li-Fi systems. These advantages are contributing to the wide adoption of LEDs in the form of arrays for Li-Fi system infrastructure, supporting the market growth.
 

Rising implementation of Li-Fi in retail stores for interactive shopping experience

Location-based services segment in the Li-Fi market will grow at the CAGR of around 50% through 2030, owing to ability of Li-Fi networking system to provide precise location information services in indoor environments. It provides comprehensive mapping tools for the measurement and accurate visualization of pedestrian traffic in retail stores. It optimizes indoor & outdoor floor plan information to provide customers with directions to their area of interest using their smartphones.
 

The Li-Fi technology is anticipated to witness demand from automotive industry to facilitate Vehicle to Vehicle (V2V) communication in connected cars. The ability of V2V communication to exchange data with other vehicles aids in preventing potential crashes and congested traffic jams. V2V communication enabled by Li-Fi technology will also assist autonomous cars to distinguish between living and inanimate objects. This ability will further enhance the decision-making capabilities in autonomous cars. The growing integration of advanced technologies into modern vehicles will drive the adoption of Li-Fi in the automotive sector.
 

Increasing demand in Europe due to implementation in telecom sector

Europe Li-Fi Market By Region

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The Europe Li-Fi industry valuation crossed USD 30 million in 2019 where UK held around 28% of the revenue share. The regional industry is witnessing a high growth due to increasing number of internet users and high data consumption in the region.
 

According to the Central Intelligence Agency Factbook, there are 62.9 million active internet users in the UK as of 2019. This is encouraging telecom operators in the UK to implement Li-Fi technology. For instance, in August 2018, European telecom operator O2 began the trial of Li-Fi technology in the UK in partnership with PureLiFi. The company implemented LiFi-XC system consisting of several LiFi-enabled LED bulbs in a room at its Slough headquarters. The system allows data transmission from an LED light bulb. The adjustments in the intensity of the bulb provide high-speed, bidirectional exchange of data.
 

Partnerships and strategic collaborations adopted by leading industry players

The market players are laying emphasis on establishing partnerships and strategic collaborations to expand their business operations and gain a competitive edge. For instance, in October 2019, PureLiFi announced its partnership with Getac, a manufacturer of rugged tablets and PCs for military, manufacturing, and automotive industries.  This partnership aided the company to test the Li-Fi technology for implementation in wireless devices for defense and security applications.
 

Companies are also focusing on new product launches to expand their product portfolio. For instance, in June 2019, Signify launched its Trulifi transceiver, a Li-Fi-enabled device to be mounted on the surface of LEDs and luminaires. This device provides data transmission speed up to 150 Mbps. This aided the company to enhances its product portfolio.
 

Key players operating in the industry include Integrated System Technologies Ltd., Lightbee S.L., Lucibel, NAV Technologies, Signify, PureLiFi, SLD Laser, Velmenni, VLNComm, Renesas Electronics Corporation, General Electric, Oledcomm and Fujitsu.
 

The Li-Fi market research report includes in-depth coverage of the industry with estimates & forecast in terms of revenue in USD from 2020 to 2030 for the following segments:
 

Market by Component

  • LEDs
  • Photodetectors
  • Microcontrollers

Market by Application

  • Indoor networking
  • Aerospace
  • Automotive
  • Healthcare
  • Location-Based Services
  • Underwater communication
  • Defense & security
  • Intrinsically safe environments

The above information has been provided for the following regions and countries:

  • North America
    • U.S.
    • Canada
  • Europe
    • UK
    • Germany
    • France
    • Italy
    • Russia
  • Asia Pacific
    • China
    • India
    • Japan
    • South Korea
  • Latin America
    • Brazil
    • Mexico
  • MEA
    • Saudi Arabia
    • UAE
    • South Africa
       

Frequently Asked Questions (FAQ) :

The market size of LI-FI surpassed USD 70 million in 2019.
The industry share of LI-FI is anticipated to grow at 50% CAGR between 2020 to 2030.
The LED component segment held a market share of around 45% in 2019 and is anticipated to reach USD 600 million by 2025, due to rising deployment of LEDs in commercial establishments and industries.
According to the analysts at GMI, the Europe industry valuation crossed USD 30 million in 2019 where UK held around 28% of the revenue share.
Key players operating in the industry include Integrated System Technologies Ltd., Lightbee S.L., Lucibel, NAV Technologies, Signify, PureLiFi, SLD Laser, Velmenni, VLNComm, Renesas Electronics Corporation, General Electric, Oledcomm and Fujitsu.
The growing integration of advanced technologies into modern vehicles will drive the adoption of Li-Fi in the automotive sector.

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Premium Report Details

  • Published Date: Jun 2020
  • Pages: 209
  • Tables: 178
  • Charts / Figures: 28
  • Companies covered: 19
  • Countries covered: 16

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