European Li-Fi Market size is poised to surpass USD 2 billion by 2030, according to a latest forecast report by Graphical Research.
The increasing demand for Li-Fi systems in the European healthcare & research sector will create robust growth opportunities for the market. The Li-Fi system usage allows advanced management of highly sensitive and personal data between different locations in the healthcare facility. The technology is also extensively used in educational and research institutions. For instance, in September 2017, the European Union (EU) funded the Visible light-based Interoperability and Networking (VisIoN) project to develop a better understanding of Li-Fi. The project also aimed to train new researchers and doctors in the emerging areas of Visible Light Communications (VLC) and Li-Fi technology.
The growing usage of the Internet in several industry verticals and consumer devices puts a strain on the wireless frequencies available for use. However, the lack of sufficient wireless frequency spectrum required to support this growing number of devices in Europe generates demand for alternate sources of network connectivity. Li-Fi networks combine the visible light spectrum and the infrared spectrum to connect fixed and mobile devices at very high data rates.
The COVID-19 pandemic has unfavorably impacted the Europe Li-Fi industry growth owing to disruptions in the regional electronics industry. Restrictions on the import & export of critical components have substantially amplified the cost of manufacturing for system integrators and Li-Fi component developers.
Browse detailed statistical insights from the report, “Europe Li-Fi Market Size By Application (Indoor Networking, Aerospace, Automotive, Healthcare, Location-based Services, Underwater Communication, Defense & Security, Intrinsically Safe Environments), By Component (Microcontroller, Photodetector, LED), Research Report, Country Outlook, Price Trends, Growth Prospects, Competitive Industry Share & Forecasts, 2020 – 2030” along with the table of contents (ToC) @
Microcontrollers are expected to display a growing demand in the implementation of Li-Fi technology. The growth in demand is attributed to an upward trend in the miniaturization of electronic components. The introduction of small microcontroller chips and integrated circuits is facilitating the large-scale deployment of Li-Fi-enabled devices. The increasing presence of electronic component manufacturers coupled with decreasing price of these components will drive the market growth.
Major players in the industry are Fujitsu Limited, Lightbee S.L., Lucibel, General Electric, Oledcomm, PureLiFi, NAV Technologies, Velmenni, SLD Laser, Renesas Electronics Corporation, and Integrated System Technologies. Strategies adopted by these companies include new product launches and mergers & acquisitions. For instance, in March 2019, Renesas acquired Integrated Device Technology, Inc., a supplier of analog mixed-signal products including sensors and connectivity & wireless power components. This acquisition enhanced the company’s product portfolio of microcontrollers, sensors, and detectors by leveraging IDT’s expertise.
The European Li-Fi market research report includes in-depth coverage of the industry with estimates & forecast in terms of revenue in USD million from 2020 to 2030 for the following segments:
Europe Market, By Component
Europe Market, By Application
- Indoor networking
- Location-based services
- Underwater communication
- Defense & security
- Intrinsically safe environments
The above information has been provided for the following countries: