Li-Fi market size forecast to grow at 80.8% CAGR from 2016 to 2023 Li-Fi Market – Global Industry Analysis Report | Page 2

23 driven by increasing regulations pertaining to energy efficiency. Photodetector segment,
which comprised of 30% of the overall market share in 2015 will also see significant growth
in the coming years.
High demand for wireless communications will enhance the growth of this technology across
the globe. Asia Pacific Li-Fi market, which had a revenue of approx. USD 185 million in
2015, is forecast to be the leading region over the coming years, according to Global Market
Insights Inc. This is on account of high internet connectivity demand along with poor radio
communication infrastructure in rural regions of countries like India.
The US Li-Fi market share is expected to grow at a CAGR of 78 % over 2016-2023, having
been valued at approx. USD 190 million in 2015. In the Middle East, UAE based technology
company Zero.1 in partnership with telecommunication service provider du will soon launch
Li-Fi service in Dubai.
Key Industry participants in the Li-Fi market are PureLifi, Philips, GE, LVX, Oledcomm, etc.
The technology demands an advanced product portfolio which is encouraging strategic
alliances and mergers & acquisitions amongst the corporate firms. The applications of this
technology shall pave a way for the players to gain profitability by redesigning and
expanding their product landscape. Some major opportunities in the Li-Fi industry shall be
witnessed in the coming years in the areas like smart LED lighting for commercial buildings
and private homes, smart lightening of public areas like stations & airports, smart stores,
traffic updates from traffic lights and route management in railways etc.

U.S. Li-Fi market size, by component, 2013-2023 (USD Million)

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