According to the latest market research study released by Technavio, the global Li-Fi market is expected to grow at a CAGR of almost 48% during the forecast period 2016-2020.
This market research report by Technavio provides an in-depth analysis of the market in terms of revenue and emerging market trends. The report also includes an up-to-date analysis and forecasts for various market segments and all geographical regions.
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Technavio research analysts categorize the global Li-Fi market based on end-user type:
Global Li-Fi market share by end-user type 2016
|
Retail |
30% |
|
Consumer electronics |
27% |
|
Automotive and transportation |
18% |
|
Healthcare |
12% |
|
Defense and security |
9% |
|
Other |
4% |
Source: Technavio
The top three revenue contributing end-user segments are discussed below:
Retail
The retail segment accounted for around 30% share in the global Li-Fi market in 2016. The Li-Fi technology can be used by retailers to enhance the shopping experience of customers, and improve the value delivered. In retail stores about 60% of customers use mobile phones and around 70% of sales are made while standing in the queue. This technology will confirm that the stores’ lighting network communicates with shoppers in two major ways that includes the easy availability of specific goods when shoppers are searching for it in their list, and delivery of offers, coupons, and recipes to customers on their mobiles.
“The year 2015 witnessed the live trial of Li-Fi technology and was tested at shopping malls and museums in countries like France, Belgium, Estonia, and India. The acceptance of Li-Fi technology will not only enhance the targeted promotion of retailers but also improve sales. It is expected that an increase in the adoption of this technology will be a significant factor in the growth of the retail sector in the coming years,” says Abhishek Sharma, an industry analyst at Technavio for research on machine to machine and connected devices.
Consumer electronics
In 2016, the consumer electronics segment accounted for over 27% share in the global Li-Fi Market. With the use of Li-Fi technology, consumer electronics such as laptops, smart phones, tablets, and other mobile devices can be directly interconnected. The short range links provide safety and very high data rates. The excess capacity demands of mobile networks can be easily off-loaded to Li-Fi networks wherever available. This is more effective on the down link where jams usually happen. The use of consumer electronics will be enhanced without any obstruction with the adoption of Li-Fi technology. It is expected that with an increased application of Li-Fi technology, the consumer electronics segment will grow during the forecast period.
Automotive and transportation
The automotive and transportation segment accounted for around 18% share in the global Li-Fi Market. Li-Fi can be used for vehicle-to-vehicle and vehicle-to-roadside communication for the successful application of road safety and traffic management. The application of Li-Fi technology by the drivers will allow them to use smart devices or car headlights to connect and get information from traffic lighting systems. This information can be transferred to the cars behind using the tail lights. The data to be transferred could be regarding the shortest estimated time to arrive to a specific location, traffic updates, or even accessing internet. There may be few constraints which can be overcome by incorporating visible communication system in the vehicle, and use the vehicle’s head lights to send information. Besides this, a voice activated system can also be implemented for the ease of driver. These intelligent traffic systems can also manage noise issues by using specific colored lighting to transmit information, and programming the receivers to recognize specific wavelengths.
The top leading vendors operating in the global Li-Fi market are:
- GE
- LVX System
- Oledcomm
- Philips
- pureLiFi
Other prominent vendors in this market space are Avago Technologies, Axrtek, ByteLight, Casio, IBSENtelecom, Lightbee, LightPointe Communications, Luciom, Outstanding Technology, Panasonic, Plaintree Systems, Renesas Electronics, and Supreme Architecture.
A more detailed analysis is available in the Technavio report titled, ‘Global Li-Fi Market 2016-2020’. Technavio also customizes reports by other regions and specific segments upon request.
Other related reports:
- Global Wi-Fi Chipset Market 2016-2020
- Global Location-based Services Market in the Healthcare Industry 2016-2020
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