Dublin, Feb. 21, 2024 (GLOBE NEWSWIRE) -- The "Light Fidelity (Li-Fi) - Global Strategic Business Report" report has been added to ResearchAndMarkets.com's offering.
Global Light Fidelity (Li-Fi) Market to Reach $10.9 Billion by 2030
The global market for Light Fidelity (Li-Fi) estimated at US$657.8 Million in the year 2022, is projected to reach a revised size of US$10.9 Billion by 2030, growing at a CAGR of 42% over the analysis period 2022-2030. LEDs, one of the segments analyzed in the report, is projected to record 42.6% CAGR and reach US$4.6 Billion by the end of the analysis period. Growth in the Photo Detectors segment is estimated at 40.5% CAGR for the next 8-year period.
The report explores the emerging role of Li-Fi technology in monitoring COVID-19 patients and facilitating social distancing measures during the pandemic, particularly in smart buildings. It presents a competitive scenario analysis, including the global key competitors' market share and their market presence categorized as strong/active/niche/trivial in 2023.
In terms of market prospects and outlook, the report identifies key growth drivers and market restraints impacting the adoption of Li-Fi technology. It further analyzes the market by component, application, and end-use sectors, providing insights into the percentage breakdown of sales for LEDs, photo detectors, microcontrollers, indoor networking, location-based services, in-flight communications, healthcare, retail, education, and other segments.
The U.S. Market is Estimated at $239.6 Million, While China is Forecast to Grow at 47.6% CAGR
Regional analysis highlights the distribution of Li-Fi market sales between developed and developing regions, ranking geographic regions based on their compound annual growth rate (CAGR) for the period of 2022-2030. Additionally, the report offers an introduction to Li-Fi technology, outlining its benefits and drawbacks, along with recent market activity shaping the Li-Fi market landscape.
The Light Fidelity (Li-Fi) market in the U.S. is estimated at US$239.6 Million in the year 2022. China, the world's second largest economy, is forecast to reach a projected market size of US$1.2 Billion by the year 2030 trailing a CAGR of 47.6% over the analysis period 2022 to 2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 33.6% and 36.7% respectively over the 2022-2030 period. Within Europe, Germany is forecast to grow at approximately 41.8% CAGR.
What`s New?
- Special discussions on the global economic climate and market sentiment
- Coverage on global competitiveness and key competitor percentage market shares
- Market presence analysis across multiple geographies - Strong/Active/Niche/Trivial
- Online interactive peer-to-peer collaborative bespoke updates
- Access to digital archives and trademarked research platform
- Complimentary updates for one year
- Access to curated YouTube video transcripts of market sentiments shared by CEOs, domain experts and market influencers via interviews, podcasts, press statements and event keynotes
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 257 |
| Forecast Period | 2022 - 2030 |
| Estimated Market Value (USD) in 2022 | $657.8 Million |
| Forecasted Market Value (USD) by 2030 | $10900 Million |
| Compound Annual Growth Rate | 42.0% |
| Regions Covered | Global |
MARKET TRENDS & DRIVERS
- Li-Fi (Light Fidelity) Market on an Upward Swing
- Global LED Lighting Market in US$ Million by Region/Country for 2020 and 2027
- Latest Trends Influencing the Li-Fi Market Growth
- Industrial and Commercial Sectors Demanding More LEDs
- Li-Fi Trends for Internet Connectivity
- Rising Focus on Indoor Networking in Healthcare Sector to Drive Growth
- Pharmaceutical Sector Experiences Security and Integrity of Data Transmission through Li-Fi
- Li-Fi Experiences Uptake in Education and Academics Sector
- In-Flight Connectivity in Aerospace and Defense: Key Sectors of Revenue Growth
- Li-Fi Signals Enable Reduction of External Attacks in Defense Sector
- Li-Fi Revolutionizes Onboard Connectivity
- Proliferating Li-Fi implementation to Boost Interacting Shopping Experience in Retail Stores
- Automotive Sector Demands Li-Fi Technology for V2V Communications
- COVID-19 Pandemic Impacts Automotive Industry
- World Automobile Production in Million Units: 2008-2022
- Li-Fi Technology for Underwater Communication
- Smart Buildings and Smart Cities Adopt Li-Fi Technology
FOCUS ON SELECT PLAYERS (Total 35 Featured)
- IDRO Co. Ltd.
- KYOCERA SLD Laser, Inc.
- LightBee Corp
- Lucibel SA
- Lvx System
- Oledcomm SAS
- PureLiFi ltd.
- Qualcomm Technologies, Inc.
- Renesas Electronics Corporation
- Siemens AG
- Signify Holding BV
- Velmenni
- Wipro LLC
- Zero1 Pte Ltd
For more information about this report visit https://www.researchandmarkets.com/r/1xrovj
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