Global Market Insights, Inc., predicts that the overall Li-Fi market size is poised to exceed USD 8 billion by 2030, subject to the light fidelity technology’s mounting applications across indoor networking. Healthcare, aerospace, underwater communication, automotive, and other sectors.
A sudden upsurge in internet usage owing to massive proliferation of smartphones globally has enabled the Li-Fi market to carve out a lucrative growth curve for itself in the upcoming years. Currently, there are nearly more than 4.8 billion internet users worldwide as of June 2020. This global internet penetration has compelled various companies to invest into Li-Fi market, subject to growing demand for high speed data transmission.
For instance, Philips Lighting had in 2018, introduced Light Fidelity enabled luminaires for vivid applications. It was reported that a French real estate investment company-Icade had shown great interest in piloting Philips Li-Fi luminaries at its smart offices in Paris. Each luminaire is equipped with a built-in modem which modulates the speed, imperceptible to the human eye. Moreover, Li-Fi gains momentum, owing to its potential benefits over wi-fi, as it can be used in places where RF or radio frequencies may interfere with equipment, or where wi-fi signals cannot reach or are exceptionally weak.
Such moves are expected to enhance the product portfolio of Philips Lighting while also allowing it to grow multifold in the global Li-Fi market over the coming years.
The Li-Fi industry has become highly popular in the global business space over recent years, fueled by its rising prominence over conventional technologies because of its favorable features like energy efficiency, high-speed data transfer, directional lighting, and intrinsic security. Moreover, additional benefits such as absence of bandwidth limitations and RF spectrum bandwidth crunch offers an advantage to this technology over conventional channels such as wi-fi.
Li-Fi in healthcare facilities
Constant monitoring of patient health in hospitals is performed using either Wi-Fi or manual based systems. However, Wi-Fi based systems are considered to be much slow in speed due to the increased scalability. In this case, Li-Fi finds better operability wherever Wi-Fi is applicable with the additional feature of high-speed data connection. Beside the speed factor, light fidelity technology is highly more suitable in healthcare applications for analyzing the patient’s condition without frequency interference within the human body.
This has, undeniably, led various industry sectors to invest strategically in the technology to be used across healthcare units and facilities. An excellent example is Nav wireless and the recent launch of Li-Fi technology to help combat COVID-19. Apparently, this novel move has enabled Nav to stand as the only company in Asia to receive first commercial project in Li-Fi sector in the healthcare industry.
As the cases of COVID-19 are rising at an unprecedented pace, hospitals and governments have been looking for solutions to abate the count to some extent. This has indeed compelled Nav Wireless Technology, to take a step ahead in the Li-Fi technology by offering installation of these systems across Surat’s SMIMER isolation wards for speedy, and safer light-based communications for all medical professionals and COVID-19 patients.
NAV’s novel initiative has in turn urged vivid market vendors across the globe to take similar steps in bolstering the Li-FI market’s position in the overall sustainable and smart technologies industry.
In conclusion, considering the ending benefits offered by Li-Fi paired with strategies opted by various large industries are likely to garner substantial growth in the overall Li-Fi market over the coming years.
Source: Global Market Insights, Inc.