Li-Fi Market Analysis
Market Research Future (MRFR) presumes the global Li-Fi Market size to reach USD 51 Billion at 70% CAGR from 2017-2024 (forecast period).
Adoption of LED Lighting System
Customers' adoption of LED lighting and its accompanying ecosystem has the potential to raise market demand tremendously. The light's eco-friendliness, as well as government support, can auger well for the market. LEDs' low power consumption and longevity may encourage their use. The increasing use of smartphones, as well as the looming requirement for connectivity and high bandwidths, have the potential to raise market demand enormously. Smart homes and cities are expected to drive market growth in the future years as countries strive to update their infrastructure. Policymakers' goal of achieving a low-carbon economy and lowering LED prices can bode good for the market.
The Global Market to Grow Amid COVID-19 Pandemic
The COVID-19 pandemic has slowed the demand for Li-Fi. Disruptions in the supply chain and trade restrictions can have an impact on the industry's growth. Customers' focus on purchasing vital necessities is likely to hinder the market. Li-Fi, on the other hand, has proven to be reliable in hospitals that require communication tools to convey information to doctors. An Indian business, Nav Wireless Technology Pvt Ltd., has created technology for transmitting critical patient data via LED lights. The company has received permission from Ahmedabad's Civil Hospital to install plug-and-play LED lights to cover only COVID-19 cases. This way of monitoring ventilators and other critical equipment can help to reduce the risk of virus spread among professionals.
Read more@ https://www.marketresearchfuture.com/reports/visible-light-communication-li-fi-market-3561
Li-Fi Market Key Players
Oledcomm (France), Panasonic Corporation (Japan), Koninklijke Philips N.V. (the Netherlands), PureLiFi Limited (U.K), LightPointe Communications, Inc. (U.S.), LightBee Corporation (U.S.), Velmenni (Tartu), FSONA Networks (U.K), Acuity Brands, Inc. (U.S.), General Electric (U.S.), and others are key players in the global Li-Fi market.
