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North American Li-Fi Market revenue to cross $2.5 Bn by 2030
Published Date: 2021-03-19
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North American Li-Fi Market size is predicted to reach USD 2.5 billion by 2030 impelled by rising cybercrimes are creating a robust demand for secure wireless networks in the commercial sector, according to a latest forecast report by Graphical Research.
Rising cybercrimes are creating a robust demand for secure wireless networks in the commercial sector will augment the market growth. Sensitive industries, such as banking and finance, are highly susceptible to cybersecurity threats, posing a high demand for secure data transmission systems. The inability of Li-Fi to penetrate opaque surfaces provides high security from hackers, enabling safe and secure access to the Internet.
High consumer disposable income and preference toward technologically advanced luxury cars are contributing to the rising demand for connected cars in North America. Li-Fi technology is expected to support the rapid adoption of connected cars in this region. The ability of Li-Fi to facilitate communication between vehicles using their headlights will drive the demand for this technology in North America.
The COVID-19 pandemic has adversely impacted the North America Li-Fi industry growth due to disruptions in the regional electronics industry. Restrictions on importing critical components from China have significantly increased the production cost for Li-Fi component manufacturers and system integrators. In-house sourcing of components owing to disruptions in the global supply chain has however aided regional players to implement new strategies.
Browse detailed statistical insights from the report, “North America 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) @
The demand for Li-Fi technology from intrinsically safe environments will grow strongly on account of concerns, such as environmental damage, health & safety, which may hamper the use of Wi-Fi technology in such places. The ability of Li-Fi technology to transfer data via light spectrum rather than radio waves enables its implementation in intrinsically safe environments. Li-Fi can be effectively implemented in places where it is dangerous to establish communication through radio waves or in places where RF signals are unable to penetrate.
Major players in the North American industry are Fujitsu Corporation, General Electric, Lightbee S.L., Lucibel, Oledcomm, NAV Technologies, PureLiFi, Signify, SLD Laser, Velmenni, Renesas Electronics Corporation, and Integrated System Technologies. Strategies adopted by these players include new product launches and strategic partnerships. For instance, in January 2018, VLNComm launched its Li-Fi LED lighting panel, LumiNex. It offers a download speed of 108 Mbps and an upload speed of up to 53 Mbps.
The North American 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:
North America Market, By Component
North America 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:
- North America