Global Light Fidelity (Li-Fi) Market (2018-2025)-GMI Research Global Light Fidelity (Li-Fi) Market (2018-2025)-G | Page 2

data transmission by triggering the conversion of light waves into electric signal
through photodetector.
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The growing demand for fast data transmission, need for data security and need
for technology advancement from existing data transmission technologies, such
as Wi-Fi (Wireless-Fidelity ) are some of the key factors that are supporting the
growth of the LiFi market. Further, industries such as healthcare, automotive,
and defense are also fueling, the growth of global LiFi market. However, factors
such as less awareness about the LiFi technology, specifically, in the emerging
regions is one of the key factors which is hindering the growth of LiFi market. In
addition, the limitation of LiFi technology, i.e., it is best used in the closed
environment or for shorter distance, further limits the growth of the market. The
key players, such as PureLiFi and Lucibel in the market are more focussed on
research & development, which is expected to boost the growth of LiFi market in
the course of next few years.
Various notable players operating in the market include PureLifi, Philips,
Qualcomm, GE Lighting, Oledcomm, Lucibel, Axrtek, Fujitsu, Panasonic,
Velmenni, IBSEN telecom Ltd., among others. Local players or mid-size
companies involved in Li-Fi market face intense competition from the major
players in terms of technological advancement, product innovation and price
constraints. For instance, in September 2017, Wipro Lighting partnered with Pure
LiFi to strengthen their position in the Asian market. Thus, creating stiff
competition for the local players in the region.
The Li-Fi market has been segmented on the basis of component type, end user
and key geographies. Based on component type, the market is segmented into