LIGHT FIDELITY MARKET ANALYSIS

Market Challenges And Opportunities

Global Light Fidelity (Li-Fi) Market Drivers:

Increasing high-speed network demand to accelerate market pace

Li-Fi technology makes use of the infrared and visible light spectrum for high speed data communication. This technology is capable of transmitting data at a very high speed and can deliver 224 GB of data every second. Due to the emergence of LED, the use of Li-Fi has become simple and has enabled high-speed networks. Thus, adoption of li-fi technology is increasing to achieve high-speed networks. As a result, the global light fidelity (Li-Fi) market is expected to gain major growth in the coming future.

Rise in demand for energy-efficient solutions to boost the market growth

The ICT sector is transforming with growing efforts from governments around the world. This is due to rise in need for energy management. Due to various government initiatives such as, implementation of smart city transformations, market players now have to invest and innovate in Li-Fi technology. For instance, the seven-year Dubai Plan 2021 has ICT at its heart, which will build on investment in advanced technology. Thus, rising demand for energy-efficient solutions is expected to drive growth of the global light fidelity (Li-Fi) market over the forecast period.

Global Light Fidelity (Li-Fi) Market Opportunities:

Growing adoption of Lighting-as-a-service (LaaS) is expected to create growth opportunities in the global light fidelity (Li-Fi) market over the forecast period. There is a paradigm shift in the lighting industry, and old business models have started to fade away, owing to the limited lifetime of 20 years if an LED light bulb. The adoption of Lighting-as-a-service is thus increasing rapidly, and it is likely to draw significant attention. This is further anticipated to offer lucrative opportunities in the global light fidelity (Li-Fi) market in the coming future.

Rise of portable technology along with growth of Internet of Things (IoT) is projected to create lucrative environment for growth opportunities in the global light fidelity (Li-Fi) market over the forecast period. As the portable technology along with IoT is growing, the need for additional clean communication layer is now of extreme importance. Li-Fi technology does not need electromagnetic smog and radio waves. Moreover, it offers advanced approach on design. Thus, the demand for Li-Fi is increasing due to rising portable technology, which in turn is creating growth opportunities in the market.

Global Light Fidelity (Li-Fi) Market Restraints:

Limited connectivity and range to hinder the market growth

Due to limitations of the visible light, Li-Fi gains a security advantage over Wi-Fi. Even so, these limitations are also the reason behind disadvantages of Li-Fi technology. Due to physical barriers, such as doors and walls, the operational scope of a Li-Fi enabled LED lamp is limited. As a result, the data from Li-Fi product stays confined within a close space, owing to the incapability of light penetrating opaque objects. This factor in turn is expected to hinder growth of the global light fidelity (Li-Fi) market over the forecast period. However, with increasing technological advancements, the limitations of Li-Fi technology are likely to be reduced, which will support the market growth in the near future.

Lack of awareness regarding the Li-Fi technology to limit the market growth

As the Li-Fi technology is still in its early stage, only few of them have reached the stage of commercialization. The awareness about the advantages of using this technology is not highly widespread, which acts as a challenge in adoption of Light fidelity systems. Thus, this factor is expected to obstruct growth of the global light fidelity (Li-Fi) market over the forecast period.