According to 6Wresearch report, Global Li-Fi (Light Fidelity) Market is projected to grow at a CAGR of 115 per cent during 2016-22 backed by need for faster data transfer, growing LED lighting market, rising number of connected devices, increasing internet penetration coupled with mounting issue of RF Bandwidth spectrum crunch are spurring the market for Li-Fi systems globally.
By Belal Khan
Though Li-Fi is an emerging technology, which is yet to be commercialized globally, but is anticipated to record exponential growth over the coming years.
Li-Fi technology transfers data 100 times faster than traditional Wi-Fi network. During 2011-15, Li-Fi market was commercialized only for the use in unidirectional data transfer, however over the next six years, bidirectional data transfer is likely to commercialize.
“In Li-Fi system, LED lights controls major cost of the overall system followed by photo detectors. This technology is also gaining acceptance as LEDs consumes less energy and have long working life,”said Prijo Samuel, Senior Research Analyst, Research and Consulting, 6Wresearch,
“In global Li-Fi application market, retail application has registered highest deployment, however during the forecast period street light application is expected to witness major growth in demand,” he added.
According to Shefali Goel, Research Analyst, Research and Consulting, 6Wresearch, “Amongst all regions, European Li-Fi market contributes a major share in the market revenues.
The major companies in the Global Li-Fi market include- Acuity Brand Lighting, Inc, General Electric Company, Koninklijke Philips N.V, Lightbee Corp, LVX System Corp, PureLi-Fi Ltd and Oledcomm.
At present, Li-Fi market is still in the nascent stage and is confined to limited applications. Many companies, R&D institutes and education institutes have invested in this space to make the technology a global success.
