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Photo-detectors, accounted for over 30% of market revenue in 2015. Microcontroller segment was valued at
more than USD 95 million that year.
On the basis of application, the industry is split into automotive & transportation, consumer electronics,
defense & security and aviation, healthcare, and retail. Retail sector held market s hares surpassing 30% in
2015.
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The automotive & transport segment is anticipated to witness a CAGR of over 80%. This segment is
expected to grow at the fastest rate. Technological advancements and communication machinery of
cars is expected to increase adoption of these lights in traffic and car lights.
Geographies comprise of North America, Latin America, Asia Pacific, Europe, and the Middle East &
Africa (MEA). North America light fidelity industry accounted for more than 40% of the global market
share, in 2015. This region is expected to grow at a CAGR of around 76% during the forecast period.
Europe has established the infrastructure of Li-Fi communication systems and is expected to show
positional growth in the region. This will create a large platform for market growth in the coming years.
The light fidelity market in Asia Pacific was valued at over USD 95 million in 2015. It will witness a
significant growth of around 30% by 2024. This growth can be attributed to the contribution made by
countries like Korea, China, and Japan.
Key market players encompass ByteLight Incorporated, Lightbee Corporation, Ibsentelecom Limited,
and PureLifi Limited. The adoption of Li-Fi is at its budding stage and is used in limited niche
applications. Therefore, an extensive research & development investment could benefit the players in
the long run.
Browse Related Category Market Reports @ https://www.hexaresearch.com/research-category/next-generation-
technologies-industry
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