North America Light Fidelity Market Size, Share & Industry Trends Analysis Report By Component, By End-Use (Healthcare, Retail, Education, Aerospace & Defense, Automotive, Government, Transportation), By Country and Growth Forecast, 2022 - 2028
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Market Report Description
The North America Light Fidelity Market would witness market growth of 45.3% CAGR during the forecast period (2022-2028).
The Li-Fi technology is comparable to Wi-Fi from the end user's perspective, with the main technological distinction being that Li-Fi transmits data by modulating light intensity as opposed to Wi-Fi, which induces a voltage in an antenna using radio frequency. As a result, Li-Fi can operate where electromagnetic interference might ordinarily be a problem (e.g., in hospitals, aircraft cabins, or the military). A basic consumer product, similar to an IoT (the Internet of Things) gadget, with a microcontroller, color sensor, and embedded software, makes up the Bg-Fi Li-Fi system.
The color sensor present on the consumer goods receives light from the display of the mobile device and turns it into digital data. As a result, consumer goods and mobile devices can communicate synchronously owing to light-emitting diodes. Li-Fi is an extension of optical wireless communications (OWC) technology. OWC works similarly to Wi-Fi by employing light from light-emitting diodes (LEDs) as a channel to enable network-based, mobile, high-speed communication.
VLC operates by rapidly turning the LEDs' current on and off so quickly that it is invisible to the human eye. Technology that enables handover, often known as roaming between different Li-Fi cells, may enable seamless switching between Li-Fi. Compared to Wi-Fi, the light waves have a far narrower range and less opportunity for hacking because they cannot pass through walls. In addition, Li-Fi does not always require a clear line of sight to broadcast a signal; light reflected off walls can attain 70 Mbit/s.
99% of Canadians were connected to mobile networks in 2017, which had a penetration rate of 85.7% and covered about one-fifth of the country's total land area. In 2017, Canada had 31.7 million mobile subscribers. In Canada, 99% of the inhabitants and more than 86% of key roads and highways were covered by LTE mobile networks. These values are expected to rise even further, boosting the demand for faster connectivity. The prevalence of street lights using LED bulbs would accelerate the deployment of Li-Fi across these highways. Therefore, because of the region's established infrastructure, implementing cutting-edge technology is simple and improves connection, which fuels regional market expansion.
The US market dominated the North America Light Fidelity Market by Country in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $969.7 million by 2028. The Canada market is poised to grow at a CAGR of 48.6% during (2022 - 2028). Additionally, The Mexico market would witness a CAGR of 47.3% 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 U.S., Mexico, Canada, and Rest of North America.
Free Valuable Insights: The Global Light Fidelity Market is Estimated 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.
Scope of the Study
Market Segments Covered in the Report:
- Aerospace & Defense
- Rest of North America
Key Market Players
List of Companies Profiled in the Report:
- Panasonic Holdings Corporation
- Signify N.V.
- Renesas Electronics Corporation
- Wipro Lighting (Wipro Enterprises Private Limited)
- pureLiFi Limited
- LiFiComm Tech
- Lucibel SA
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Global Light Fidelity Market Report 2022-2028
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