The Latin America, Middle East and Africa Light Fidelity Market would witness market growth of 49.1% CAGR during the forecast period (2022-2028).
One of the main factors influencing the market is the rise in business need for high-data transmission rates. Li-Fi technology implementation is becoming more popular in fields like security and healthcare, which is good news for the sector. Government officials are advised to invest in R&D initiatives to support company growth. Companies are compelled to invest in and develop in Li-Fi due to government regulations in the information & communication technology (ICT) sector, such as adopting smart city developments.
Also, the increased need for networking is anticipated to open up a lot of prospects for major Li-Fi market competitors. Data is wirelessly sent using visible light communication (VLC) technology called light fidelity (Li-Fi), which uses LED lights. Li-Fi has the potential to revolutionize several areas, including how people use the internet, stream films, get mail, and much more. Li-Fi technology offers advantages, including high-speed internet connectivity, no interference like conventional RF waves, and a highly secure data transmission, making it a more efficient and affordable solution for data transmission, driving its market acceptance.
Due to its accessibility and low cost in the Middle East, where most of the population is accessible by a mobile cellular connection and a sizable number of mobile phone customers, mobile internet saturation has increased quickly. Many regional and international service providers are well-represented in Africa and the Middle East and have had a long-standing presence there. Also, the region has a healthy mix of public and private sector participants, which has fueled innovation and increased access to the internet in many nations. In addition, the region hosts many international programs and has a robust hospitality industry, all of which contribute to the development and application of communication technology. As a result, this region will provide the market for light fidelity substantial growth potential in the years to come.
The Brazil market dominated the LAMEA Light Fidelity Market by Country in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $61.2 million by 2028. The Argentina market is experiencing a CAGR of 49.9% during (2022 - 2028). Additionally, The UAE market would showcase a CAGR of 48.7% during (2022 - 2028).
Based on Component, the market is segmented into LED, Microcontrollers, Photodetector, and Others. Based on End-Use, the market is segmented into Healthcare, Retail, Education, Aerospace & Defense, Automotive, Government, Transportation, and Others. Based on countries, the market is segmented into Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, and Rest of LAMEA.
Free Valuable Insights: The Global Light Fidelity Market is Predict to reach $3.6 Billion by 2028, at a CAGR of 46.2%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Panasonic Holdings Corporation, Signify N.V., Renesas Electronics Corporation, Wipro Lighting (Wipro Enterprises Private Limited), pureLiFi Limited, Oledcomm, VLNComm, Velmenni, LiFiComm Tech, and Lucibel SA.
By Component
By End-Use
By Country
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