Europe Li-Fi Market size crossed USD 30 million in 2019 and is expected to record a CAGR of around 50% from 2020 to 2030.
Increasing investment for smart city development in Europe is fueling the demand for Visible Light Communication (VLC) technologies such as Li-Fi. Government authorities are leveraging cellular and advanced wireless technologies to connect & improve infrastructure, efficiency, convenience, and the lifestyle for residents through the development of these smart cities. Residents of these cities engage with smart city ecosystems through smartphones, mobile devices, connected cars, and homes. These applications are generating a rapid demand for high-quality communication networks in the region.
Get more details on this report - Request Free Sample PDF
End-users in the Europe commercial sector are adopting Li-Fi technology to enhance speed, safety, and security in offices. For instance, in July 2017, Sogeprom S.A., a real estate company based in Paris, adopted Li-Fi technology for high-speed internet connectivity in its office. The technology was provided by PureLiFi and the lighting system was provided by Lucibel. A Li-Fi-enabled dongle was inserted into the employees’ computers provides high-speed internet.
The Europe Li-Fi industry witnessed a sluggish growth in 2020 and 2021. Market factors including slow business growth, reduction in consumer disposable income, and rapid rise in unemployment have contributed to the low demand for advanced technologies such as Li-Fi. With the rising impact of the pandemic, patrons in the region have delayed the adoption of advanced and expensive technologies, hindering the market growth.
Europe Market, By Application
The location-based services will witness a rapid demand through 2030. Li-Fi technology enhances the users’ shopping experience by providing precise location information services. In addition, it also provides pop-ups regarding recent product offers in the stores, thereby assisting shop owners in increasing their sales. Li-Fi technology also generates a reminder regarding product supply shortage across the store.
The increasing implementation of Li-Fi in healthcare facilities is driven by ongoing research in Europe. Companies in the Li-Fi market are collaborating with research institutes to test the performance of the technology in healthcare. For instance, in November 2018, VDA Group conducted the AAL X AAL project in partnership with the University of Udine and Solari Spa, Italy to allow wireless data connectivity in the healthcare sector.
Competitive Industry Landscape
Key players active in the Europe Li-Fi market include General Electric, Oledcomm, NAV Technologies, Integrated System Technologies Ltd., PureLiFi, VLNComm, and Signify.
These companies focus majorly on new product launches to enhance their service offerings. In June 2019, Signify launched the Trulifi transceiver, a Li-Fi-enabled equipment that can be placed on the surface of luminaires and LEDs. This device offers a data transmission speed of over 150 Mbps, aiding the company to enhance its product portfolio of Li-Fi systems.