The global light fidelity (Li-Fi)/ visible light communication (VLC) market is anticipated to grow at a CAGR of more than 85% during the forecast period. The major factor for the growth of the market is the increasing concern regarding cyber security. Rising cyber-attacks have been witnessed across the globe, which is resulting in an increasing need for cybersecurity, which thereby is accelerating the demand for Li-Fi technology.
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Li-Fi technology makes the use of visible light to facilitate bidirectional and high-speed communication that is provided in a closed environment such as hospitals, planes, airports, malls, offices, and many others owing to which it eliminates the risk of data being hacked. The technology uses visible light communication or VLC technology which is prominently used in many lightning facilities such as LED bulbs. There has been a growing need for lower power consumption technologies that are sustainable and do not harm the environment. With the increasing need for high-speed data across the globe, this factor will fuel the demand for Li-Fi technology.
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- Market Coverage
- Market number available for – 2023-2029
- Base year- 2022
- Forecast period- 2023-2029
- Segment Covered- By Source, By Product Type, By Applications
- Competitive Landscape- Archer Daniels Midland Co., Ingredion Inc., Kerry Group Plc, Cargill
- , and others
Global Light Fidelity (Li-Fi)/ Visible Light Communication (VLC) Market
o By Component
- LED
- Photodetector
- Microcontroller (MCU)
o By Industry Vertical
- Retail
- Consumer Electronics
- Defense and Security
- Automotive & Transportation
- Aerospace and Defense
- Healthcare
- Others
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