Why Li-Fi market size (Light Internet) Could Replace Wi-Fi market in next 7 Years.

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Li-Fi market size was valued at USD 630 million in 2015, and is likely to grow at 80.8% CAGR from 2016 to 2023.
Massive bandwidth in light of growing RF spectrum crunch coupled with high degree of security, availability, and energy efficiency is expected to drive the global Li-Fi market size. Li-Fi market size is anticipated to reach USD 75.5 billion by 2023; as per a new research report by Global Market Insights, Inc.
Increasing 3G and 4G technology demand and the impending RF spectrum crunch will drive the global Li-Fi market. Since it uses the visible light spectrum, the technology is expected to complement Wi-Fi in environments where the latter is not suitable.
This includes environments such as healthcare, where data security is paramount. Significant LED infrastructure driven by reducing prices, high degree of energy efficiency, and high installation in residential as well as public spaces will prove beneficial to Li-Fi market size in the coming years.
Megatrends such as Industry 4.0 and significant growth prospects in the IoT market will present high profitability avenues. Smart homes industry size will be propelled by increased connectivity demand and initiatives undertaken by major participants.
This is forecast to drive Li-Fi market size over the forecast timeframe.   High security compared to traditional radio communications since light cannot pass through walls will be a compelling driver for technology adoption.
Low awareness regarding the presence and benefits of the technology, such as in vehicle-to-vehicle communication, and across location based services through the use of signage for driving sales is a growth restraint. The Li-Fi industry consists of large number of suppliers of raw materials that are used to manufacture Li-Fi enabled products.
Raw materials such as LEDs (light emitting diode), microcontroller, and photodetector used to enable these solutions. To access sample pages or view this report titled, “(Light Fidelity) Li-Fi Market Size By Component (Microcontroller, Photodetector, LED), By Application (Indoor Networking, Aerospace, Automotive, Healthcare, Location Based Services, Underwater Communication, Defense & Security, Intrinsically Safe Environments), Industry Analysis Report, Regional Outlook (U.S., UK, Germany), Application Potential, Price Trends, Competitive Market Share & Forecast, 2016 – 2023”    Key insights from the report include: Global Market Insights has segmented the Li-Fi industry on the basis of component, application and region:   Source: Free Articles from ArticlesFactory.com Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services..