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The global Li-Fi market size was valued at USD 294 Million in 2020 and is projected to expand at a CAGR of 68% during the forecast period, 2021 – 2028. The growth of the market is attributed to rising industrial 4.0 applications.

Li-Fi systems, in compared to standard options such as Wi-Fi, offer a much larger bandwidth spectrum, high speed rates, improved data security, and lower network and radio interference. The COVID-19 pandemic has wreaked havoc on the day-to-day operations of a variety of businesses across the globe. However, it has increased the digitization, driving the demand for Li-Fi solutions.

From devices to networking protocols, liquid fidelity (Li-Fi) solutions can handle all of the major concerns about wireless systems and their security. Li-Fi provides an upgraded wireless infrastructure that allows for high peak data rates while still assuring energy efficiency.

Market Trends, Drivers, Restraints, and Opportunities

  • Rising frequency of cybercrimes around the world and the growing requirement for solutions to secure data transfer are driving the market growth.
  • Hyper-urbanization and the growing construction of smart cities around the world are the key drivers of the market growth.
  • Wide spread adoption of cloud computing, big data tools, and multi-tier data center architectures across industries are estimated to propel the growth of the market.
  • The COVID-19 outbreak hampered the construction industry owing to supply chain disruption. However, the relaxation in restrictions owing to acceleration in vaccination drive is anticipated to help the market recover soon.
  • Radiations caused by Li – Fi is estimated to hinder the market growth.
  • Growing development of smart devices is anticipated to create immense opportunities for the market players.

Key Players

  • Lucibal SA
  • Oledcomm SAS
  • LVX System
  • PureLIFI Ltd
  • Signify Holding BV

Competitive Landscape

The major players in the Li Fi market include Lucibal SA, Oledcomm SAS, LVX System, PureLIFI Ltd, and Signify Holding BV.

Companies are engaging in mergers, acquisitions and partnerships to expand their market share. In January 2020, Getac Technology incorporated pureLIFI-powered Li-Fi technology into rugged mobiles. Getac's Li-Fi Solutions is anticipated help the defense, public safety, automotive, energy, and manufacturing industries.

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