Technology Light Fidelity (Li-Fi) Market | Seite 2

Your Catalyst To a Lucrative Business
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 el ectronics,
defense & security and aviation, healthcare, and retail. Retail sector held market shares surpassing 30% in
2015.
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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