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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Unlike Wi-Fi which makes the use of radio waves. Li-Fi uses light waves to provide an internet connection for the user, and as light waves travel faster than radio waves, the speed of Li-Fi is many times faster than Wi-Fi. Several advancements in automobile systems have enabled the use of Li-Fi for various applications such as to maintain the distance between the two vehicles. With the increasing number of retail shops and malls, many retailers are using Li-Fi to keep the account of buying pattern of the consumer so that they can provide a tailored service to that customer.
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- Market Coverage
- Market number available for – 2024-2031
- Base year- 2024
- Forecast period- 2024-2031
- 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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