Global LED Visible Light Communication (GVLC) The Li-Fi Market is expected to be worth USD 291.45 billion by 2029, growing at a CAGR of 65.78% during the forecast period.
LED Visible Light Communication (LiFi) Market Value and CAGR
Global LED Visible Light Communication (GVLC) The Li-Fi Market is expected to be worth USD 291.45 billion by 2029, growing at a CAGR of 65.78% during the forecast period. In 2022, the market was worth USD 32.14 billion. The growing demand for a secure, fast, and dependable network has fueled the growth of the Li-Fi industry.
Furthermore, the rising spectrum crisis as a result of increased data usage has influenced network providers to shift toward high efficiency and robust internet services. VLC is a free, secure, and unlicensed media player. As a result, it can adequately address the RF spectrum crunch effect. LED Visible Light Communication (VLC) is an optical-based wireless communication system that transmits visible light over short and long distances.
The minimum requirement for optical transmission using fluorescent lamps at a speed of 10 Kbit/s is a visible light range of 400-800 THz. Light Emitting Diode (LED) devices are used for short-range transmission. Because light is a free source that does not harm the devices, visible light communication is about to bypass and eliminate the use of Bluetooth, infrared (IR), WIFI, which operates on the module of RF waves, and electromagnetic interference (EMI).
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LED Visible Light Communication (LiFi) Market Growth Drivers and Risks
Among the key drivers of the LiFi market are: High demand for high-speed internet: As the use of internet-based applications and services grows, so does the demand for high-speed internet access. LiFi has the potential to provide data transfer rates of several gigabits per second (Gbps), making it a promising technology for meeting the growing demand for high-speed internet access. Energy efficiency: LiFi employs LED lighting, which is extremely energy efficient. In comparison to other wireless communication technologies that use radio frequency (RF) signals, LiFi is a more sustainable and environmentally friendly technology.
Among the key risks confronting the LiFi market are: Interference: Other light sources, such as sunlight or artificial lighting, can interfere with LiFi signals. In certain environments, this can limit the range and reliability of LiFi systems. Limited penetration: Because LiFi signals cannot pass through solid objects, providing coverage in buildings with thick walls or multiple floors is difficult. LiFi faces competition from other wireless communication technologies, such as 5G and Wi-Fi, which could limit its market growth.
LED Visible Light Communication (LiFi) Market Keyplayers
General Electric, Oledcomm, Fujitsu, PureLiFi, Lvx System, Acuity Brands, Qualcomm, IBSENtelecom, Koninklijke Philips, Panasonic, Lightbee, LumEfficient Lighting, Renesasa are some of the major key players.
LED Visible Light Communication (LiFi) Market Segmentations
Segment By Type
Segment By Application
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Jul 29, 2023
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