Light Fidelity – Growth, Opportunity and Forecast
Published by : Industrial Automation
Li-Fi industry has massively gained high popularity in the global business space over the recent years.
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 announced offering Light Fidelity enabled luminaires for vivid applications. It was reported that a French real estate investment company-Icade had shown dire interest in piloting Philips Li-Fi luminaires at its smart offices in Paris. Each luminaire is equipped with a built-in modem which modulates the speeds imperceptible to a human eye. More so, 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 intervene 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 forthcoming years.
Li-Fi industry has massively gained high popularity in the global business space over the recent years, fuelled by its rising prominence over conventional technologies on grounds of its favourable 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 would offer an upper hand to this technology over the conventional channels including wi-fi.
According to Global Market Insights, 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.
Li-Fi in healthcare facilities
Constant monitoring of patient health in hospitals is ether Wi-Fi or manual based system. However, Wi-Fi based systems are considered to be much slow in speed due to increased scalability. In this case, Li-Fi finds better operability wherever Wi-Fi is applicable with additional features of high speed data connection. Let alone the speed factor, light fidelity technology is highly more suitable in healthcare application for analysing the patient’s conditions without frequency interference with human body.
This has, undeniably, offered various industry majors to invest strategically in the technology to be used across various healthcare units and facilities. An exemplary model authenticating the aforesaid is Nav wireless, 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 out for solutions to abating 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 swards for speedy, and safer light based communication 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 step in bolstering Li-FI market’s position in the overall sustainable and smart technologies industry. All in all, it is safe to declare that considering the ending benefits offered by Li-Fi paired with strategies opted by various industry biggies are likely to garner substantial proceeds in the overall Li-Fi market over the forthcoming years.
Source: Global Market Insights, Inc