Market Forecast by Components (Microcontroller, Photodetector and LED), Verticals (Retail, Museums, Campus and Street Light) and Regions (Americas, Europe and Asia-Pacific)
Projected growth in the LED lighting market, growing demand for the fast and secure data transfer and increasing internet penetration are some of the major factors which have resulted in the overall growth of the global Li-Fi market. In Li-Fi system, LED light component accounted for majority of the system cost.
According to 6Wresearch, Global Li-Fi Market is expected to grow at a CAGR of 115% during 2016-22. Amongst all applications, retail application acquired largest revenue share of the market pie globally. Over the next six years, campus and street light applications are forecast to grow at a relatively higher CAGR during 2016 to 2022.
European region held major share in the Global Li-Fi systems market in terms of revenue, owing to increasing deployment of Li-Fi systems in retail, museums, street light and small scale commercial offices. Additionally, over the next six years, Asia-Pacific region is expected to grow relatively higher than other regions attributed to large LED lighting market; China and Japan likely to register highest deployment for Li-Fi systems in the coming years.
The report thoroughly covers the market by Li-Fi network components, by applications and by regions. The report provides unbiased and detailed analysis of the on-going trends, opportunities/ high growth areas, market drivers, which would help stakeholders to device and align market strategies according to current and future market dynamics.
Media Source: Open PR