Wired networks incur gamut components for installing internet connection. It not only surges cost, but complete installation of the components such as switches, hubs, and Ethernet cables etc. drives in multiple complexities. To overcome such challenges, Wi-Fi has emerged as great alternative. This technology implements high-frequency radio waves instead of wired networks. Similar to Wi-Fi, another technology Li-Fi has emerged that uses visible light communication instead of radio signals. Li-Fi delivers high-speed in a much more secure way that even the latest Wi-Fi advancements cannot offer. Li-Fi allows 100 times faster data transmission than Wi-Fi, making it more competent.
The Wi-Fi and Li-Fi markets are estimated to witness a CAGR of 15.0% and 61.3%, respectively during the forecast period 2016–2022. The Wi-Fi market is analyzed by deployment mode, products, services, verticals, and regions whereas Li-Fi market is analyzed by components, verticals, and regions. Increasing productivity, high speed, reliable & secure communication, and flexibility are the main reasons to switch to wireless Wi-Fi and Li-Fi technology. The Li-Fi market is emerging and being developed, which would likely lead to an increase in the adoption of Li-Fi in the next 5–7 years.
The Americas is set to be the leading region for the Wi-Fi and Li-Fi market growth followed by Europe and Asia Pacific for the adoption of technologies. Asia Pacific is known for improvements in infrastructure and IT investments by MNCs. Thus, the region will have enormous potential for Wi-Fi connections. MEA is set to be the emerging region with a lot of opportunities and is expected to reach $4.09 billion (Wi-Fi) and $827.9 million (Li-Fi), respectively by 2022.
The major verticals covered in the report are IT & telecom, education, healthcare, BFSI, retail, aerospace (in-flight operations), traffic management, underwater applications, and indoor networking. Globally, the industry players are showing interest towards Wi-Fi and Li-Fi technology. The Wi-Fi technology is already being incorporated and is widely accepted in IT & telecom, education, and healthcare sectors due to the organization’s shift towards wireless ecosystem. The indoor networking segment is set to be the leading vertical for Li-Fi technology. The market revenue for indoor networking and traffic management is expected to reach $654.2 million and $5,509.4 million, respectively by 2022.
pureLiFi, IBSENtelecom, Alcatel-Lucent, Ericsson, Hewlett-Packard Enterprise (HPE), Cisco, Lucibel, Ruckus Wireless, GE Lighting, Renesas Electronics Corp., LIGHTBEE, Velmenni, and Oledcomm S.A.S.
The Wi-Fi & Li-Fi are becoming demanding technologies. There are enormous business opportunities for new players entering the market and collaborating with large players in providing various products and services. Especially for Li-Fi technology, new start-ups are coming with technologically advanced products, services, and solutions in the market and are expected to see double-digit growth in the next 5–7 years. In this space, collaboration and merger & acquisition activities are expected to continue.
The report provides an in-depth analysis of the Wi-Fi and Li-Fi market aiming to understand the networking environment. The report talks about deployment mode, products, services, components, verticals, and regions for both Li-Fi and Wi-Fi. The key stakeholders can know about the major trends, drivers, investments, vertical player’s initiatives, and government initiatives towards the adoption in the next 5–7 years. Moreover, the report provides details about the major challenges impacting the market growth.