Asia Pacific (Light Fidelity) Li-Fi Market size valued at over USD 13 million in 2019 and is projected to register a growth rate of 65% from 2020 to 2030.
Rapid increase in the application of connected devices in various business establishments has directed to an increasing demand for indoor distributed networks in the Asia Pacific region. Indoor wireless connectivity through Li-Fi allows business users to access the internet at high speeds, send & receive email and make calls. The ability of Li-Fi to transmit high volume of information without any interference from current radio frequencies will propel the market share.
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The increasing use of industrial automation technologies in the growing manufacturing sector in China is propelling the requirement for secure and fast network communication systems. Rapid internet penetration and technological advancements in the field of IoT are contributing to this growing demand. According to the China Internet Network Information Center, internet penetration reached 61.2% in 2019, increasing by 1.6% compared to 2018.
The Asia Pacific Li-Fi industry witnessed a sluggish growth during the second half of 2020 owing to the escalating spread of the COVID-19 pandemic. Several market factors, such as rapid rise in unemployment and reduction in consumer disposable income, contributed to the slow growth. The surge in the spread of virus has resulted in the decline in the adoption of advanced technologies, thereby hampering the market growth for Li-Fi.
The growing internet usage through smartphones and other electronic gadgets is fueling the market demand. Rapid increase in the population of countries including India and China coupled with gradually reducing costs of smartphones and other smart devices is creating a high demand for internet connectivity and high data transfer speeds in the region.
Asia Pacific Market, By Component
The LED segment is expected to observe an accelerated growth in the Asia Pacific Li-Fi market till 2030 owing to the high penetration of LED light sources in the market. The establishment of regulatory initiatives for energy efficiency has led to increased LED demand. The photodetector segment is anticipated to display a steady growth through 2030 due to its ability to decode the signals received from LED transmitters and power the Li-Fi system.
Asia Pacific Market, By Application
The aerospace & defense sector is witnessing growing applications of Li-Fi to improve navigation capabilities. Airplanes utilize connected sensors and remote-control devices to improve performance and safety. Moreover, increasing demand for in-flight connectivity by passengers in commercial airplanes will drive the demand for Li-Fi technology.
Competitive Industry Landscape
Key companies active in the market include General Electric, NAV Technologies, Oledcomm, Integrated System Technologies Ltd., VLNComm, PureLiFi, and Signify.
These players focus majorly on new product launches to enhance their service offerings. In January 2018, VLNComm launched its Li-Fi LED lighting panel, in the Li-Fi industry. The LumiNex panel is capable of 108 Mbps download speed and 53 Mbps upload speed. It covers an area of 516 square feet and includes support for 15 users simultaneously using industry standard white LEDs.