Light Fidelity Li-Fi
The global Li-Fi ( Light Fidelity) market is expected to grow between 2016 and 2023. Massive bandwidth from the growing RF spectrum crunch, together with a high degree of security and energy efficiency are expected to bolster the global Li-Fi market.
While the features offered by Li-Fi and visible light communications (VLC) are quite similar, Li-Fi does not require line-of-sight between receiver and transmitter. The technology offers data transfer at high speed. For instance, Li-Fi is capable of delivering the same, if not greater, data transfer speed compared to a Wi-Fi access point.
Internet video traffic is expected to grow considerably in the coming years, with video projected to form the majority of consumer internet traffic. This increasing data production and usage will eventually spur demand for wireless optical networks and RF-based networks.
Increasing demand for applications in medical centers, hospitals, and schools will give impetus to the global Li-Fi market. Since the technology involves visible light wavelengths and not radio waves, it is less likely to have a negative effect on human health. Experts often compare Li-Fi to Free Space Optics (FSO) as it also utilises light to transfer data.
The market is benefiting from the rising adoption of LED (Light Emitting Diodes) worldwide due to longer life span, higher efficiency, and lower maintenance. Several countries such as Japan, China, and the U.S. have already adopted initiatives for promoting energy conservation using LED lighting technology. For instance, the Chinese government is offering lucrative incentives, resources, and financial subsidies to promote the adoption of LED lighting in industry. It has also taken steps to support and advance the capabilities of domestic LED manufacturers.
However, the lack of awareness about the benefits offered by the technology is negatively impacting Li-Fi market growth. Misconceptions such as Li-Fi being line-of-sight in nature are also expected to restrain market growth to an extent.
The Asia Pacific is expected to emerge as a lucrative market for Li-Fi. The growth of the market in this region is fuelled by increasing demand for better internet connectivity. The U.S. is expected to present opportunities for enterprises in the Li-Fi market over the forecast period.
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