Li-Fi (light fidelity) is a visible light communications (VLC) system which provides wireless communications at very high speed. Li-Fi is a technology used for wireless communication by using light to transmit data. Li-Fi uses LED bulbs for data transmission. Li-Fi provides higher speed than Wi-Fi. Li-fi technology is faster and it provides more reliable internet connections, and is capable of catering to the demand of high data usage
The driving factor for the global Li-Fi market is the increase in demand for high-speed data transmission. Li-Fi technology transmits data at very high speed and is capable of delivering 224GB of data per second. Furthermore, it offers better security as compared to Wi-Fi. Due to its high speed, Li-Fi technology can be widely used in electromagnetic sensitive areas, such as, hospitals, airplanes, and nuclear power plants. Innovation and new product launches are further boosting the growth of the market.
For instance, in December 2017, Velmenn introduced advanced Li-Fi USB adapter for use in communication of USB devices, and Li-Fi-enabled LED lights. Additionally, the company has also developed advanced algorithms in Li-Fi technology to provide better performance of Li-Fi LED bulbs. Li-Fi technology can connect remote and distant terrains across the country that cannot be reached through optical fiber. It is widely used in smart-city projects. Increase in investment by government in smart-city project rises the demand of Li-Fi technology. However, lack of awareness of the technology hinders the growth of the market.
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The global Li-Fi market can be segmented based on component, application, end-user, and geography. Based on component, the market can be bifurcated into LED, photo detector, microcontroller, and others. The LED segment dominates the global Li-Fi market. In terms of application, the Li-Fi market can be divided into smart lighting, mobile connectivity, disaster management, vehicle and traffic management, and others. Based on end-user, the market can be categorized into automotive, education, retail, healthcare, government, aerospace & defense, power & utilities, chemical, transportation, media & entertainment, IT & telecommunications, and others.