The global light fidelity (Li-Fi) market is expected to witness substantial growth over the forecast period on account of the increasing adoption of communication technology and a number of internet users. Rising data traffic across the globe is expected to increase the adoption of technology. Rising demand for the reliable, fast and secure network has led to the growth of light fidelity market. Furthermore, the rising consumer usage of data coupled with spectrum crisis has led the internet providers to switch to robust and high-efficiency internet services. Li-Fi is free of charge, unlicensed and secure. Thus, it would be enough to cover the RF crunch effect. Rising indoor monitoring and positioning in the retail sector is expected to foster the market in the forecast period. Increasing applications of a LED-based lighting system in various sectors such as automotive and transportation, smartphones and in-flight communication is anticipated to drive the market growth.
Increasing penetration of smartphones coupled with high demand for mapping portals is expected to stimulate the market for photodetectors components in communication systems. Increasing demand for real-time traffic updates is anticipated to foster the demand for Li-Fi over the period. Up-gradation of prevailing lighting system to communication system might act as a factor for adoption of this technology. However, lack of infrastructure for wireless technology in developing countries is expected to hinder the growth of light fidelity market.
The light fidelity market is classified on the basis of components into photodetectors, LED and microcontrollers. The LED-based light fidelity device can generate the string of binary numbers by switching it on and off and by using the mixture of red, blue and green LEDs the data can be encoded in light by confirming the flickering rate to alter the light frequency. The component transmits the data through the different part of the spectrum. The technological improvements in LED have given a solution by using light for high-speed wireless communication. Photodetectors such as the photodiode are used in detecting and sensing images in the transmitted signal. The demand for image sensing and detecting is increasing owing to its uses in different sectors which are expected to boost the demand for photodetectors in the forecast period. Microcontrollers modulate the data using modulation techniques such as pulse width modulation.
The light fidelity market is also bifurcated on the basis of application in various sectors into automotive & transport, retail, consumer electronics, defense & security, healthcare, and aviation. Retail sector dominated the market in 2015 and is expected to grow over the forecast period as it used a positioning component in the stores where it can improve the shopping experience of the consumers. LED lamps emit flickering light which smartphones detect for indoor navigation. Implementing the component might improve customer loyalty and services towards retailers. The application in the automotive & transportation sector is expected to grow exponentially owing to the technological improvements in LED and communication components of cars owing to which in turn is expected to increase the adoption of car and traffic lights. Furthermore, increasing traffic management and road safety parameters through instantaneous tracking via applications is expected to play a key role in market penetration.
Various applications of light fidelity such as horticultural lighting and industrial & commercial marine lighting are expected to drive the market of North America. The National Highway Traffic Safety Administration (NHTSA) and Department of Transportation (DoT) have mandated the use of LEDs in the headlights and taillights of the vehicles. Owing to the established infrastructure for Li-Fi communication systems, the market of Europe is expected to grow exponentially over the forecast period. Asia Pacific market is expected to grow significantly owing to the huge manufacturing capacity of light fidelity components in Japan, China and Korea.
The major contributors to light fidelity market are PureLifi Ltd., Visilink, Oledcomm, Velmenni, Ibsentelecom Ltd., Lightbee Corp., ByteLight, Inc., Axrtek, Fujitsu Ltd., Panasonic Corp. General Electronic Corp., LVX System, Qualcomm Inc., and Supreme Architecture Inc.
