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Increasing concerns about cyber security are projected to encourage innovation in the production of light fidelity Li-Fi or visible light communication systems, propelling the market during the forecast period.

The global light fidelity Li-Fi or visible light communication market is expected to grow from $119.54 billion in 2022 to $261.23 billion in 2023 at a compound annual growth rate (CAGR) of 118.5%. The global light fidelity Li-Fi visible light communication market is expected to grow to $5903.27 billion in 2027 at a CAGR of 118%.

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Global Light Fidelity Li-Fi Or Visible Light Communication Market Segments Include:

• By Component: LED, Photodetectors, Microcontrollers (MCU)
• By Transmission Type: Unidirectional, Bidirectional
• By Application: Indoor Networking, LBS (Location Based Services), In-Flight Communication and Entertainment, Underwater Communication, Other Applications
• By Industry Vertical: Retail, Electronics, Defense and Security, Automotive and Transport, Aerospace and Aviation, Healthcare, Other Industry Verticals
• By Geography: The market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, North America is the largest region in the global light fidelity Li-Fi or visible light communication market in 2021.

Major Market Players in the light fidelity Li-Fi or visible light communication market include General Electric Company, Oledcomm, Renesas Electronics Corporation, PureLiFi ltd, Lvx System, Acuity Brand Lighting Inc, IBSENtelecom ltd, Koninklijke Philips NV.

Technological developments are a key trend that is gaining traction in the market for light fidelity (Li-Fi)/visible light communication. To meet client demand, major companies in the light fidelity (Li-Fi)/visible light communication market are focusing on developing innovative technology solutions. For example, in May 2022, Signify, a Dutch-based firm specialising in Light fidelity (Li-Fi) Visible light communication, announced Trulifi, a series of commercially accessible LiFi systems that includes the world’s fastest and most trustworthy systems. The product contains Philips luminaires that use optical wireless transceiver technology and uses a light source to provide exceptionally dependable, secure two-way wireless communications. This means that users may get great lighting and wireless access without having to knock down and replace their existing lighting infrastructure. It also provides wireless connectivity in big spaces like conference rooms and office floors at speeds of up to 150 Megabits per second (Mbps), which is fast enough to stream 30 1080p HDTV movies at the same time.

The Light Fidelity Li-Fi Or Visible Light Communication Global Market Report 2023  provides a light fidelity Li-Fi or visible light communication market overview for the time series: historic years (2010 – 2021) and ten years forecast (2023 – 2032). The light fidelity Li-Fi or visible light communication market forecast analyzes light fidelity Li-Fi or visible light communication market size, light fidelity Li-Fi or visible light communication market share, leading competitor market positions. The regions covered in the report include Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa and the countries include Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

The light fidelity (Li-Fi)/visible light communication market consists of entities (organisations, single traders, and partnerships) selling light fidelity (Li-Fi)/visible light communication products and services that are used to give an efficient and easier manner of interacting wirelessly. LiFi (light fidelity), a bidirectional wireless technology, transfers data using infrared or LED light. Visible light communication (VLC) combines communication and lighting. LI-FI has made use of the electromagnetic spectrum’s visible light, which spans the blue (670 THz) and red (480 THz) frequencies. Because Li-Fi does not rely on electromagnetic waves, it is ideally suited for usage in hospitals and on aeroplanes, where Wi-Fi and other radio frequency connections are forbidden for safety and security reasons.

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