Wi-Fi and Li-Fi markets to grow at a CAGR of 15% & 61% by 2022
The increasing shift to Wi-Fi and Li-Fi from wired networks will enable many new business models. With the evolution of standards of networking and need of service providers, the applicability of Wi-Fi and Li-Fi technologies will change and move towards the use of IoT, Big Data, and analytics.
Infoholic Research LLP, a global market research and consulting company, has published a study titled “Worldwide Wi-Fi and Li-Fi Market – Drivers, Opportunities, Trends, and Forecasts: 2016–2022”.
According to Infoholic Research, implementation of Wi-Fi is becoming ubiquitous, and nearly 70–80% of the internet users will adopt this technology. Li-Fi technology is still under innovation and has just made inroads in commercial industries, which is expected to boost the market in the next 5–10 years. Wi-Fi and Li-Fi, being wireless technologies, help organizations to reduce the cost, increase the productivity & bandwidth, and offer secure & reliable connection.
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The Wi-Fi market is expected to grow at a CAGR of 15.0% during the forecast period 2016–2022 to touch an aggregate of $49.10 billion by 2022. The Li-Fi market is expected to grow at a CAGR of 61.3% during the forecast period 2016–2022 to touch an aggregate of $11,202.6 million by 2022.
The Wi-Fi market is analyzed by deployment mode, products, services, verticals, and regions. Wi-Fi is an open platform, which helps smart devices to connect with each other. As of now, outdoor Wi-Fi and transportation Wi-Fi are the top priorities for Wi-Fi ecosystem providers. Around two-third of the networking providers are offering Wi-Fi products & services, and in addition, 10–15% of the providers are investing in developing new products for the same. The outdoor Wi-Fi market is predicted to grow at a CAGR of 14.5% during the forecasted period.
In terms of products and services, access points and network planning & design hold the majority of the share due to the increasing demand for high-speed Wi-Fi connectivity and prevailing use of smartphones, tablets, and laptops. WLAN controllers play a significant role in the emerging market due to the requirement of powerful access technology for the consumer market and the enterprises. The WLAN controllers are growing with the help of installation and support service in the wireless environment as they offer better security, flexibility, and scalability.
In terms of verticals, IT & telecom, education, and healthcare are the major end-users preferred by the enterprises to build their infrastructure as Wi-Fi technology can run in any environment. The organizations can adopt more devices to connect in a single AP. Moreover, a single AP can host 100–200 users running on same workloads, which shows that the organizations want to have a resource-friendly ecosystem.
The Americas is the biggest market for Wi-Fi and has seen a major success and are widely adopted by the organizations. Asia Pacific will be the fastest growing region as the market is getting stronger due to demand from countries such as India, China, and Japan. The major opportunistic regions are Europe and Middle East. The increasing demand for wireless connectivity and rise in the sale of smartphones and tablets are improving the market potential. The UK, Germany, and France are expected to be the major markets in Europe in the next 5 years.
The Li-Fi market is analyzed based on components, verticals, and regions. The LED component plays a significant role in offering innovative and high-speed internet connection, which is expected to grow at a CAGR of 60.9% during the forecast period and reach $7,542.7 million by 2022.
In terms of verticals, indoor networking, defence & communication security, and aerospace (in-flight operations) play a primitive role in Li-Fi market mainly due to the technology innovation, smart/connected devices penetration, and growing IoT trend. The indoor networking market is expected to grow at a CAGR of 60.0% during the forecast period.
In terms of regions, Americas is set to be the leading region for Li-Fi market followed by Asia Pacific. In Europe, the market will improve due to its tremendous demand from street light vendors, museums, retail, and small scale industries. Asia Pacific is set to be the emerging region for the Li-Fi market growth. The rising investments from governments, vendors, and R&D are expected to drive the market growth in the next 5–6 years.
“At present, most of the enterprises are shifting from wired connection to Wi-Fi connection due to the requirement of reliable & secure connection, increasing productivity & flexibility, and high-speed connections. Moreover, in the digital era, organizations are looking for innovative technology, which provides high-speed internet connection. This impact will improve the Li-Fi market in the next 5–6 years.” – Prasanth, Research Analyst at Infoholic Research
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The report aims to highlight key insights from providers and end-users. The report provides an in-depth analysis and forecast about the industry covering the following key features:
- This report not only highlights users’ conundrum (challenges and barriers for adopting Wi-Fi & Li-Fi) but also brings in their perspective on the market
- The market has been analyzed by considering the key regions – Americas, Europe, Asia Pacific, and Middle East & Africa
- Provides industry outlooks including current and future market trends and drivers, restraints, and emerging technologies
- The report analyzes the Wi-Fi market according to the deployment mode, products, services, verticals, and regions
- The report analyzes the Li-Fi market according to the components, verticals, and regions
- The report analyzes the top 13 players in terms of market reach, business strategy, and business focus
- Competitive landscape
- Stakeholders’ insights and key trends (current and future) of the market