The light fidelity market is likely to strengthen its boundaries at a strong CAGR of 50.09% during the forecast period. The market is anticipated to hold a revenue of US$ 485.13 million in 2023, while it is anticipated to cross a value of US$ 28.13 billion by 2033.
The increase in conferences and seminar programs with corporate structures are flourishing the market demand. Restoring the office systems, including meetings and team building exercises, also consumes much of the light fidelity market. Advanced optical networking technology is expanding digitization in many sectors like healthcare and hospitals. It is widely used for transmitting data from one end to another.
Healthcare technology uses the li-fi in receiving and screening electronically approved prescriptions. It also eases the sharing process of patient records. Besides the healthcare sector, the increasing popularity and viewership of live streaming also fuel the demand for light-fidelity solutions. For example, a Go-Global report states that 82% of internet consumers prefer watching live videos to reading blog posts. Therefore, li-fi technology is used during live streaming as it transmits video data faster.
Light fidelity market analysis explains that the technology has become popular due to the faster transmission and flexibility on different bandwidths. Product launches, theme parties, and wedding ceremonies use li-fi technology for better connectivity.
The NIG brand award ceremonies with connected music, visual effects, and other props are integrated in a live-stream manner that consumes the light-fidelity solutions. The new integrated traffic solutions with li-fi traffic solutions analyze weather updates. The fuelling demand for the market also flourished through small-scale military applications. The localized advertising with broadcast channels is fuelling the demand for light fidelity.
| Attributes | Details |
|---|---|
| Market CAGR (2023 to 2033) | 50.09% |
| Market Size (2023) | US$ 485.13 million |
| Market Size (2033) | US$ 28.13 billion |
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The market recorded a valuation of US$ 63.65 million in 2018 and increased to US$ 323 million in 2022.
The century has witnessed a long range of technological advancements. With the advent of wireless technology and its integration with different appliances, light fidelity is also gaining traction in many sectors. Li-fi technology helps in transmitting data at a faster speed with the integration of different types of settings.
The vendors provide customized options such as healthcare li-fi, broadcasting li-fi, and secure network alternatives. Another factor that fuels the demand for li-fi technology is its usage in enterprises with infrared systems, as it uses the visible light spectrum. Its increased usage in military applications in proximity is changing defense communication practices while strengthening the overall security of any nation. Furthermore, its application in providing easy-to-control access to the guest network is one of the leading reasons why corporate enterprises switch to li-fi technology. Smart technology, IoT integrates with Li-Fi connectivity to perform different tasks under proximity.
Li-fi connectivity is adding value to the dynamic tech trends. The IoT-integrated lights that also transmit data are a popular concept among millennials. The healthcare operations such as surgeries are pre-performed on AI-based tools where light fidelity technology is used to transmit data in an encased circle of practitioners.
The light-fidelity communication setup also enables high peak data rates. This helps military operations in transferring crucial information and developments to the databases. This speed is attained as it travels at the speed of light, avoiding the radio frequency spectrum crunch. Through these properties, the light fidelity also provides better connectivity with high-security propositions to prevent cyber-attacks.
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Some key restraints for the light fidelity market are a high lack of awareness. Huge access to sizable enterprises, and an alien concept to previous wi-fi consumers. The lack of research and development programs to find suitable li-fi technology for different operations is also limiting the demand for light-fidelity systems. Though COVID-19 has impacted the li-fi market positively as it has found its application in the healthcare sector, enabling easy transactions.
Expanding Corporate Structure along with the Wide Range of Applications fuels the Regional Growth
North America dominates the light fidelity market regarding market share, holding a 32% share in 2022. The growth is attributed to the higher bandwidths, such as 4G and 5G, pushing the region's vendors to produce application-specific solutions.
The different offline-online, IoT-based applications in a corporate setting is transforming the communication technology in the region. Furthermore, healthcare communication technology is also likely to be transformed by the end of the forecast period.
China being the Technological Hub coupled with the 5G Network coming into Existence is making China one of the Top Market Leaders
China is another lucrative light fidelity market in the Asia Pacific region. Apart from the higher population and better internet connectivity, medium and large-scale businesses are adopting these communication network systems. Furthermore, the increased expenditure on military and healthcare communication technology is anticipated to fuel the demand for light-fidelity systems. Even companies have launched li-fi technology for small business solutions, acting as faster and cheaper communication solutions.
Higher Government Projects, Dynamic Communication Technology, and Higher Research fuel the Regional Growth
The United Kingdom is another significant market for light-fidelity solutions. Government institutions are installing cheaper and more effective communication technology. Apart from government projects, the military uses an optical wireless communication system, garnering market growth. The IoT-enabled devices and their consumer base in the region also flourish in demand for light fidelity.
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| Category | By End Use |
|---|---|
| Leading Segment | Healthcare |
| Market Share % (2022) | 21.0% |
| Category | By Component |
|---|---|
| Leading Segment | LED Segment |
| Market Share % (2022) | 38.0% |
Based on the end use, the healthcare segment held the leading share of 21.0% in 2022. The growth is attributed to the higher penetration of digital and wireless communication technology in medical applications. Furthermore, higher risks associated with patient data and other medical records can be saved with an enclosed communication system like a li-fi transmission.
Other than this, remote monitoring, robotic implants, and surgeries are being followed by virtual reality tests that consume a big chunk of the market.
Based on components, the LED segment held a share of 38.0% in 2022. The higher hold is attributed to LED li-fi delivering light and information. This makes it very useful for medical applications. The advent of smart technologies like IoT and AI has transformed li-fi technology. Through its integration, the li-fi provides illumination and data simultaneously.
The key players focus on producing application-specific technology with the integration of IoT. The competitors also tie hands with technological giants to spread awareness around the benefits of light fidelity and its numerous applications. Other than this, enabling IoT, reducing data prices, and higher transmission rates are some factors that key players work on. Companies also merge, collaborate, and acquire in order to expand their sales and distributional channels.
Market Developments
The market is expected to witness US$ 485.13 million in 2023.
The market is estimated to be valued at US$ 1.6 billion in 2026.
The market is expected to witness a 50.09% CAGR by 2033.
LEDs are expected to lead the market in the near future.
North America is expected to dominate the market.
1. Executive Summary | Light Fidelity Market
1.1. Global Market Outlook
1.2. Demand-side Trends
1.3. Supply-side Trends
1.4. Technology Roadmap Analysis
1.5. Analysis and Recommendations
2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations
3. Market Background
3.1. Market Dynamics
3.1.1. Drivers
3.1.2. Restraints
3.1.3. Opportunity
3.1.4. Trends
3.2. Scenario Forecast
3.2.1. Demand in Optimistic Scenario
3.2.2. Demand in Likely Scenario
3.2.3. Demand in Conservative Scenario
3.3. Opportunity Map Analysis
3.4. Investment Feasibility Matrix
3.5. PESTLE and Porter’s Analysis
3.6. Regulatory Landscape
3.6.1. By Key Regions
3.6.2. By Key Countries
3.7. Regional Parent Market Outlook
4. Global Market Analysis 2018 to 2022 and Forecast, 2023 to 2033
4.1. Historical Market Size Value (US$ Million) Analysis, 2018 to 2022
4.2. Current and Future Market Size Value (US$ Million) Projections, 2023 to 2033
4.2.1. Y-o-Y Growth Trend Analysis
4.2.2. Absolute $ Opportunity Analysis
5. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Component
5.1. Introduction / Key Findings
5.2. Historical Market Size Value (US$ Million) Analysis By Component, 2018 to 2022
5.3. Current and Future Market Size Value (US$ Million) Analysis and Forecast By Component, 2023 to 2033
5.3.1. LED
5.3.2. Photodetector
5.3.3. Microcontrollers
5.3.4. Others
5.4. Y-o-Y Growth Trend Analysis By Component, 2018 to 2022
5.5. Absolute $ Opportunity Analysis By Component, 2023 to 2033
6. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By End-use
6.1. Introduction / Key Findings
6.2. Historical Market Size Value (US$ Million) Analysis By End-use, 2018 to 2022
6.3. Current and Future Market Size Value (US$ Million) Analysis and Forecast By End-use, 2023 to 2033
6.3.1. Automotive
6.3.2. Healthcare
6.3.3. Aerospace & Defence
6.3.4. Government
6.3.5. Transportation
6.3.6. Education
6.3.7. Others
6.4. Y-o-Y Growth Trend Analysis By End-use, 2018 to 2022
6.5. Absolute $ Opportunity Analysis By End-use, 2023 to 2033
7. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Region
7.1. Introduction
7.2. Historical Market Size Value (US$ Million) Analysis By Region, 2018 to 2022
7.3. Current Market Size Value (US$ Million) Analysis and Forecast By Region, 2023 to 2033
7.3.1. North America
7.3.2. Latin America
7.3.3. Europe
7.3.4. South Asia
7.3.5. East Asia
7.3.6. Oceania
7.3.7. MEA
7.4. Market Attractiveness Analysis By Region
8. North America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country
8.1. Historical Market Size Value (US$ Million) Trend Analysis By Market Taxonomy, 2018 to 2022
8.2. Market Size Value (US$ Million) Forecast By Market Taxonomy, 2023 to 2033
8.2.1. By Country
8.2.1.1. USA
8.2.1.2. Canada
8.2.2. By Component
8.2.3. By End-use
8.3. Market Attractiveness Analysis
8.3.1. By Country
8.3.2. By Component
8.3.3. By End-use
8.4. Key Takeaways
9. Latin America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country
9.1. Historical Market Size Value (US$ Million) Trend Analysis By Market Taxonomy, 2018 to 2022
9.2. Market Size Value (US$ Million) Forecast By Market Taxonomy, 2023 to 2033
9.2.1. By Country
9.2.1.1. Brazil
9.2.1.2. Mexico
9.2.1.3. Rest of Latin America
9.2.2. By Component
9.2.3. By End-use
9.3. Market Attractiveness Analysis
9.3.1. By Country
9.3.2. By Component
9.3.3. By End-use
9.4. Key Takeaways
10. Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country
10.1. Historical Market Size Value (US$ Million) Trend Analysis By Market Taxonomy, 2018 to 2022
10.2. Market Size Value (US$ Million) Forecast By Market Taxonomy, 2023 to 2033
10.2.1. By Country
10.2.1.1. Germany
10.2.1.2. United kingdom
10.2.1.3. France
10.2.1.4. Spain
10.2.1.5. Italy
10.2.1.6. Rest of Europe
10.2.2. By Component
10.2.3. By End-use
10.3. Market Attractiveness Analysis
10.3.1. By Country
10.3.2. By Component
10.3.3. By End-use
10.4. Key Takeaways
11. South Asia Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country
11.1. Historical Market Size Value (US$ Million) Trend Analysis By Market Taxonomy, 2018 to 2022
11.2. Market Size Value (US$ Million) Forecast By Market Taxonomy, 2023 to 2033
11.2.1. By Country
11.2.1.1. India
11.2.1.2. Malaysia
11.2.1.3. Singapore
11.2.1.4. Thailand
11.2.1.5. Rest of South Asia
11.2.2. By Component
11.2.3. By End-use
11.3. Market Attractiveness Analysis
11.3.1. By Country
11.3.2. By Component
11.3.3. By End-use
11.4. Key Takeaways
12. East Asia Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country
12.1. Historical Market Size Value (US$ Million) Trend Analysis By Market Taxonomy, 2018 to 2022
12.2. Market Size Value (US$ Million) Forecast By Market Taxonomy, 2023 to 2033
12.2.1. By Country
12.2.1.1. China
12.2.1.2. Japan
12.2.1.3. South Korea
12.2.2. By Component
12.2.3. By End-use
12.3. Market Attractiveness Analysis
12.3.1. By Country
12.3.2. By Component
12.3.3. By End-use
12.4. Key Takeaways
13. Oceania Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country
13.1. Historical Market Size Value (US$ Million) Trend Analysis By Market Taxonomy, 2018 to 2022
13.2. Market Size Value (US$ Million) Forecast By Market Taxonomy, 2023 to 2033
13.2.1. By Country
13.2.1.1. Australia
13.2.1.2. New Zealand
13.2.2. By Component
13.2.3. By End-use
13.3. Market Attractiveness Analysis
13.3.1. By Country
13.3.2. By Component
13.3.3. By End-use
13.4. Key Takeaways
14. MEA Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country
14.1. Historical Market Size Value (US$ Million) Trend Analysis By Market Taxonomy, 2018 to 2022
14.2. Market Size Value (US$ Million) Forecast By Market Taxonomy, 2023 to 2033
14.2.1. By Country
14.2.1.1. GCC Countries
14.2.1.2. South Africa
14.2.1.3. Israel
14.2.1.4. Rest of MEA
14.2.2. By Component
14.2.3. By End-use
14.3. Market Attractiveness Analysis
14.3.1. By Country
14.3.2. By Component
14.3.3. By End-use
14.4. Key Takeaways
15. Key Countries Market Analysis
15.1. USA
15.1.1. Pricing Analysis
15.1.2. Market Share Analysis, 2022
15.1.2.1. By Component
15.1.2.2. By End-use
15.2. Canada
15.2.1. Pricing Analysis
15.2.2. Market Share Analysis, 2022
15.2.2.1. By Component
15.2.2.2. By End-use
15.3. Brazil
15.3.1. Pricing Analysis
15.3.2. Market Share Analysis, 2022
15.3.2.1. By Component
15.3.2.2. By End-use
15.4. Mexico
15.4.1. Pricing Analysis
15.4.2. Market Share Analysis, 2022
15.4.2.1. By Component
15.4.2.2. By End-use
15.5. Germany
15.5.1. Pricing Analysis
15.5.2. Market Share Analysis, 2022
15.5.2.1. By Component
15.5.2.2. By End-use
15.6. United kingdom
15.6.1. Pricing Analysis
15.6.2. Market Share Analysis, 2022
15.6.2.1. By Component
15.6.2.2. By End-use
15.7. France
15.7.1. Pricing Analysis
15.7.2. Market Share Analysis, 2022
15.7.2.1. By Component
15.7.2.2. By End-use
15.8. Spain
15.8.1. Pricing Analysis
15.8.2. Market Share Analysis, 2022
15.8.2.1. By Component
15.8.2.2. By End-use
15.9. Italy
15.9.1. Pricing Analysis
15.9.2. Market Share Analysis, 2022
15.9.2.1. By Component
15.9.2.2. By End-use
15.10. India
15.10.1. Pricing Analysis
15.10.2. Market Share Analysis, 2022
15.10.2.1. By Component
15.10.2.2. By End-use
15.11. Malaysia
15.11.1. Pricing Analysis
15.11.2. Market Share Analysis, 2022
15.11.2.1. By Component
15.11.2.2. By End-use
15.12. Singapore
15.12.1. Pricing Analysis
15.12.2. Market Share Analysis, 2022
15.12.2.1. By Component
15.12.2.2. By End-use
15.13. Thailand
15.13.1. Pricing Analysis
15.13.2. Market Share Analysis, 2022
15.13.2.1. By Component
15.13.2.2. By End-use
15.14. China
15.14.1. Pricing Analysis
15.14.2. Market Share Analysis, 2022
15.14.2.1. By Component
15.14.2.2. By End-use
15.15. Japan
15.15.1. Pricing Analysis
15.15.2. Market Share Analysis, 2022
15.15.2.1. By Component
15.15.2.2. By End-use
15.16. South Korea
15.16.1. Pricing Analysis
15.16.2. Market Share Analysis, 2022
15.16.2.1. By Component
15.16.2.2. By End-use
15.17. Australia
15.17.1. Pricing Analysis
15.17.2. Market Share Analysis, 2022
15.17.2.1. By Component
15.17.2.2. By End-use
15.18. New Zealand
15.18.1. Pricing Analysis
15.18.2. Market Share Analysis, 2022
15.18.2.1. By Component
15.18.2.2. By End-use
15.19. GCC Countries
15.19.1. Pricing Analysis
15.19.2. Market Share Analysis, 2022
15.19.2.1. By Component
15.19.2.2. By End-use
15.20. South Africa
15.20.1. Pricing Analysis
15.20.2. Market Share Analysis, 2022
15.20.2.1. By Component
15.20.2.2. By End-use
15.21. Israel
15.21.1. Pricing Analysis
15.21.2. Market Share Analysis, 2022
15.21.2.1. By Component
15.21.2.2. By End-use
16. Market Structure Analysis
16.1. Competition Dashboard
16.2. Competition Benchmarking
16.3. Market Share Analysis of Top Players
16.3.1. By Regional
16.3.2. By Component
16.3.3. By End-use
17. Competition Analysis
17.1. Competition Deep Dive
17.1.1. PureLiFi
17.1.1.1. Overview
17.1.1.2. Product Portfolio
17.1.1.3. Profitability by Market Segments
17.1.1.4. Sales Footprint
17.1.1.5. Strategy Overview
17.1.1.5.1. Marketing Strategy
17.1.2. Oledcomm
17.1.2.1. Overview
17.1.2.2. Product Portfolio
17.1.2.3. Profitability by Market Segments
17.1.2.4. Sales Footprint
17.1.2.5. Strategy Overview
17.1.2.5.1. Marketing Strategy
17.1.3. Signify Holding.
17.1.3.1. Overview
17.1.3.2. Product Portfolio
17.1.3.3. Profitability by Market Segments
17.1.3.4. Sales Footprint
17.1.3.5. Strategy Overview
17.1.3.5.1. Marketing Strategy
17.1.4. VLNComm
17.1.4.1. Overview
17.1.4.2. Product Portfolio
17.1.4.3. Profitability by Market Segments
17.1.4.4. Sales Footprint
17.1.4.5. Strategy Overview
17.1.4.5.1. Marketing Strategy
17.1.5. Velmenni
17.1.5.1. Overview
17.1.5.2. Product Portfolio
17.1.5.3. Profitability by Market Segments
17.1.5.4. Sales Footprint
17.1.5.5. Strategy Overview
17.1.5.5.1. Marketing Strategy
17.1.6. Wipro Lighting
17.1.6.1. Overview
17.1.6.2. Product Portfolio
17.1.6.3. Profitability by Market Segments
17.1.6.4. Sales Footprint
17.1.6.5. Strategy Overview
17.1.6.5.1. Marketing Strategy
17.1.7. LiFiComm
17.1.7.1. Overview
17.1.7.2. Product Portfolio
17.1.7.3. Profitability by Market Segments
17.1.7.4. Sales Footprint
17.1.7.5. Strategy Overview
17.1.7.5.1. Marketing Strategy
17.1.8. Lucibel
17.1.8.1. Overview
17.1.8.2. Product Portfolio
17.1.8.3. Profitability by Market Segments
17.1.8.4. Sales Footprint
17.1.8.5. Strategy Overview
17.1.8.5.1. Marketing Strategy
17.1.9. Zero1
17.1.9.1. Overview
17.1.9.2. Product Portfolio
17.1.9.3. Profitability by Market Segments
17.1.9.4. Sales Footprint
17.1.9.5. Strategy Overview
17.1.9.5.1. Marketing Strategy
17.1.10. Panasonic Corporation
17.1.10.1. Overview
17.1.10.2. Product Portfolio
17.1.10.3. Profitability by Market Segments
17.1.10.4. Sales Footprint
17.1.10.5. Strategy Overview
17.1.10.5.1. Marketing Strategy
18. Assumptions & Acronyms Used
19. Research Methodology
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Light Fidelity Market
