A new market research report by Transparency Market Research (TMR), titled “Li-Fi Market – Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2016-2024,” presents a detailed overview of the market’s dynamics. Light Fidelity (Li-Fi) is an optical wireless communication technology that has the potential to carry significantly more information than radio-frequency spectrum and the report forecasts a robust growth in the Li-Fi market between 2016 and 2023.
Several factors will drive the Li-Fi market but there is none bigger than the fact that Li-Fi does not require a line-of-sight between the receiver and transmitter. Li-Fi is wire and UV-visible light communication that can transfer data at a very high speed because of the presence of fewer interferences and the availability of a much larger bandwidth over the network. Moreover, there has been a gradual increase in internet users who prefer videos over text, which will lead to the use of exponentially more data. This issue is something that the current radio frequency spectrum has failed to fulfill, opening up an opportunity for this next generation technology.
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This TMR report studies the reasons behind the extensive deployment of Wi-Fi in past decade and provides an in-depth analysis of the growth trajectory of the global Li-Fi market over the forecast period. The report points out that the increased demand for high speed data connections at medical centers, schools, and colleges will give considerable impetus to the global Li-Fi market. Because of the fact that this technology uses visible light wavelengths and not the radio waves, it is less likely to affect human health.
This report also highlights the factors that Li-Fi market players should be aware of. For example, there’s a lack of awareness about the benefits offered by Li-Fi among the end users and some misconceptions are also floating around regarding Li-Fi being line-of-sight in nature.
As far as geographical market is concerned, this report states that Asia Pacific is the most lucrative market due to moderate infrastructure in developing countries. The Internet is yet to reach nearly the half of Asia Pacific’s population and Li-Fi might just be the answer that paves the way. The U.S. is expected to offer excellent opportunities too as there’s already a high demand for Wi-Fi which can be swiftly and efficiently be replaced by Li-Fi.
The report also offers insights into leading enterprises currently operational in Li-Fi market, such as Philips, LVX, pureLiFi, GE, and Oledcomm. The TMR report states that the majority of these market players are concentrating on strategic collaborations, acquisition and mergers to gain an edge over this evolving market. For example, Qualcomm recently collaborated with GE to incorporate big data and lighting to transform retail experience. In 2015, LVX had partnered with NASA to make products for space missions and design new applications for VLC.
The aim of this report is to offer a comprehensive analysis of the global Li-Fi market, taking several factors such as historical data and verifiable projections about the market size into consideration. The projections presented have been derived using proven research methodologies and assumptions.
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