Light Fidelity (Li-Fi) Market to Hit $7,757.3 Million by 2030
The LED segment is expected to witness significant growth over the forecast period. LEDs can be rapidly switched to ON and OFF states to create a digital signal, which is driving their adoption in the manufacturing of Li-Fi. Additionally, they are highly energy efficient, are cheaper in costs, have a longer lifespan, and are compatible with the existing lighting infrastructure, thus driving the segment's growth.
Li-Fi is a wireless communication technology that uses the visible
light spectrum to transmit data. Li-Fi uses light waves that cannot
penetrate walls like radio frequency waves used in Wi-Fi. This makes
Li-Fi more secure, as it is difficult to intercept the data transmitted
through Li-Fi. Additionally, as the number of network users increases,
the RF spectrum is likely to get crowded, lowering the speed of Wi-Fi.
Li-Fi eliminates this issue by leveraging the visible light spectrum
instead of the RF spectrum, propelling its adoption.
The healthcare segment is expected to witness significant growth over the forecast period. Li-Fi provides multiple benefits in the healthcare industry including higher speed, improved security, reduced interference, and energy efficiency. Additionally, since it does not use RF spectrum, it reduces radio frequency pollution in hospitals, which is driving the adoption of Li-Fi in hospitals, thereby propelling the segment's growth.
Asia Pacific is anticipated register significant growth over the forecast period. The regional growth can be contributed by a broader customer base and a substantial number of Li-Fi providers in the region. Encouraging government initiatives for digitization and adoption of Li-Fi also bode well for the market's growth.
Read 110-page market research report, "Light Fidelity Market Size, Share, & Trends Analysis Report By Component (LED, Photodetector), By End-use (Automotive, Retail, Government), By Region, And Segment Forecasts, 2023 - 2030", published by Grand View Research.
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