Ø As of 2021, there were 4.66 billion active internet users worldwide, representing 59.5% of the global population.
Ø The COVID-19 pandemic has accelerated the demand for broadband services, with a significant rise in remote working and online activities.
Ø Li-Fi technology has the potential to offer data transmission speeds of up to 100 Gbps, surpassing traditional Wi-Fi speeds.
Ø E-commerce sales accounted for 14.1% of total global retail sales in 2020, highlighting the growing importance of the internet in driving economic activities.
Ø In 2020, the average global fixed broadband speed stood at 87.2 Mbps, an increase of 24% compared to the previous year.
Ø Li-Fi technology uses visible light communication to transmit data, offering increased security and reduced interference compared to traditional radio frequency-based communication.
Ø The adoption of 5G technology is expected to revolutionize the internet industry, offering faster speeds, lower latency, and greater connectivity.
Ø Li-Fi technology is being increasingly deployed in sectors such as healthcare, aviation, and automotive for its high-speed data transmission and security features.
Ø The Internet of Things (IoT) market is projected to reach USD 1.6 trillion by 2025, driving the integration of internet connectivity into everyday devices and appliances.
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According to a new report by Univdatos, the Li-Fi Market is expected to reach USD 4,494 Million in 2030 by growing at a CAGR of 36.76%. Furthermore, the exponential growth of data consumption, driven by the surge on the Internet of Things (IoT) devices, is propelling the demand for Li-Fi technology. As the number of connected devices increases, traditional wireless technologies face challenges in handling simultaneous connections. Li-Fi's ability to handle massive device connectivity makes it an ideal solution for smart homes, smart cities, and industrial applications. For instance, as per Intel, the number of connected devices is estimated to reach 200 billion by 2025, with 55% of global data traffic transmitted through wireless networks.
The report suggests that the rising data security and privacy concerns is one of the major factors driving the Li-Fi Market during the forthcoming years. Li-Fi's inherent security advantages contribute to its growth in various sectors. Unlike Wi-Fi, Li-Fi operates within a confined area with light signals, significantly reducing the risk of data interception or hacking. Additionally, Li-Fi signals cannot pass through walls, limiting the potential for unauthorized access. For instance, a study by the University of Edinburgh demonstrated that Li-Fi offers enhanced security with virtually no interference, making it ideal for industries handling sensitive data such as finance, healthcare, and the military.
The expanding use of Li-Fi technology in the IT and Telecommunication Industry is Generating Maximum Traction for Li-Fi products in the Market.
The IT and Telecommunication industry majorly supports the widespread adoption of Li-Fi in the global markets. The primary factors that are pivotal for this high demand generation for Li-Fi products from IT and Telecommunication industry are the high data transfer speed of the Li-Fi technology from the traditional Wi-Fi technology that are widely in used. Furthermore, the Li-Fi technology also offers high bandwidth efficiency, enhanced security, interference free communications, encounters low latency problem, and ensures spectrum congestion relief.
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Conclusion
In conclusion, the rapid expansion of Li-Fi technology is driven by its superior performance, enhanced security features, energy efficiency, and the growing demand for high-speed connectivity in a connected world. With these factors playing a pivotal role in shaping the trajectory of Li-Fi technology, we can expect to see significant growth and adoption of this revolutionary wireless communication technology in the near future.
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