Li-Fi Enabled Communication System Market Growth and Forecast by 2027

The Global Li-Fi Enabled Communication System Market accounted to US$ 1,229.0 Mn in 2018 and is expected to grow at a CAGR of 73.7% during the forecast period 2019 - 2027 to account to US$ 167,496.4 Mn by 2027.

North America was the leading geographic region in the Li-Fi enabled communication system market and it is anticipated to be the highest revenue contributor throughout the forecast period. High disposable incomes of individuals, investment in advanced technologies, huge consumer electronics industry are some of the major factors driving the growth in this region. The penetration of consumer electronic devices in the region is very high and devices like smartphones, tablets and personal computers have found a broader user base in North America.

Internet of things (IoT) plays a crucial role in the deployments and demands for Li-Fi technology in this region. The majority of the world’s largest technology companies have favored in the high economic growth which drives the Li-Fi enabled communication system market in the region.

Li-Fi Enabled Communication System Market: Strategic Insights

Market Insights

The global Li-Fi enabled communication system market is flourishing at an impressive rate and the same is expected to experience exponential growth rate in the coming years. In terms of geographical growth, Europe is the one of the largest markets for Li-Fi enabled communication systems. The wireless industry of the EU is considered to be a crucial industry as it significantly contributes to the country’s GDP as well as provides employment to millions of people in the region. The automotive sector of the EU is considered to be a crucial industry as it significantly contributes to the country’s GDP. EU is also the leading producer of motor vehicles and several premium automotive manufacturers are based in the region. With the increase in high-speed data connectivity, numerous players in this region are taking initiatives for the deployment of Li-Fi technology. For instance, in February 2019, Netherlands based company, Signify – a global leader in lights has announced that the company is operating with more than 30 customers across North America, Europe, and the Asia Pacific in order to test and commercialize its Li-Fi system. The company’s Li-Fi enabled luminaires to comprise of superior energy-efficient lights that offer high-speed, secure, and stable wireless communication using light waves. The constantly rising demand for advanced technologies among European industries is set to nurture the Li-Fi enabled communication system market in the European region till the forecast period.

Market initiatives by the players is propelling Li-Fi Enabled Communication System market growth

In the global Li-Fi enabled communication system market, new market initiative is a strategy basically adopted by companies to expand their footprint across the world and meet the growing demand of its customers. The market players present in Li-Fi based communication system market are mainly focusing towards product enhancements by implementing advance technologies. By signing partnership, contracts, joint ventures, funding, and inaugurating new offices across the world permit the company maintain its brand name globally. Most of the Li-Fi enabled communication system market initiatives were observed in Asia Pacific, North America, and Europe regions, which have high density of Li-Fi related solutions.

Segment by Type Insights

The Li-Fi enabled communication system market is categorized on basis of the system’s components as LEDs, photo detectors, micro controllers and others. The other segment comprises of amplifiers, radio transmitter & receivers among others. Significant penetration of LEDs across industries, increasing partnerships among the Li-Fi technology developers and ecosystem partners is driving the growth of Li-Fi enabled communication system market.

Segment By End-User Insights

The global Li-Fi enabled communication system market is classified on basis of different end users as smart home, smart city, automotive, education, retail, healthcare, government, transportation and others. The others segment includes end user industries such as petrochemicals, telecom, aviation, disaster management and BFSI among others. Smart city program authorities as well as governments are opting for Li-Fi based connectivity. Smart cities could definitely benefit from Li-Fi enabled street lights to provide internet access to mobile phones. The developed countries are witnessing the rise in numbers of smart home, which is benefiting the Li-Fi technology developers in the current scenario.

Retail, Smart City, Education, and healthcare are the prominent end user segments of Li-Fi enabled communication system. Various companies operating in the market are undertaking initiatives to propel Li-Fi technology in these sectors. Additionally, the smart hospitals are integrating their infrastructures with Li-Fi enabled communication system which is also propelling the market growth.

New market initiatives were observed as the most adopted strategy in global Li-Fi Enabled Communication System industry. Few of the recent market initiatives are listed below:

2019: Zumtobel a prominent provider of professional lighting and associated services announced a partnership with pureLiFi with the aim of stepping into wireless enterprise network market.

2019: Signify announced 30 pilot projects across North America, Europe, and Asia for the trial of its commercial Li-Fi system.

2018: BMW successfully completed three-year test using the LED light to transfer automobile inspection information in a factory floor robot. Through this, the system performed has increased remarkably.

2018: nextLiFi and Two Bulls announced a strategic partnership with the aim of developing next generation wireless application using light for data transmission.

The regional trends and factors influencing the Li-Fi Enabled Communication System Market throughout the forecast period have been thoroughly explained by the analysts at The Insight Partners. This section also discusses Li-Fi Enabled Communication System Market segments and geography across North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America.

Li-Fi Enabled Communication System Market Report Scope

Li-Fi Enabled Communication System Market Players Density: Understanding Its Impact on Business Dynamics

The Li-Fi Enabled Communication System Market is growing rapidly, driven by increasing end-user demand due to factors such as evolving consumer preferences, technological advancements, and greater awareness of the product's benefits. As demand rises, businesses are expanding their offerings, innovating to meet consumer needs, and capitalizing on emerging trends, which further fuels market growth.

Global Li-Fi Enabled Communication System Market – By Component

• LED
• Photo Detector
• Micro Controller
• Others

Global Li-Fi Enabled Communication System Market – By End-User

• Smart Home
• Smart City
• Automotive
• Education
• Retail
• Healthcare
• Government
• Transportation
• Others

Global Li-Fi Enabled Communication System Market – By Geography

• North America
  • U.S.
  • Canada
  • Mexico
• Europe
  • Germany
  • France
  • UK
  • Rest of Europe
• Asia Pacific (APAC)
  • China
  • India
  • Japan
  • South Korea
  • Rest of APAC
• Rest of the World

Li-Fi Enabled Communication System Market - Company Profiles

• Acuity Brands, Inc.
• Fraunhofer HHI
• Global LiFi Tech
• Infinity Technology Services Limited
• Lucibel SA
• NextLiFi
• Oledcomm
• PureLiFi
• Signify N.V.
• VLNComm