Li-Fi Market Size

Li-Fi (Light Fidelity) Market size was valued at USD 456.2 million in 2023 and is likely to reach USD 177.35 billion by 2036, expanding at around 58.2% CAGR during the forecast period i.e., between 2024-2036. In the year 2024, the industry size of Li-Fi is estimated at USD 668.61 million.

The growth of the market can be attributed to the growing need for high-speed data transfer, rising advent of internet of things (IoT), and increasing initiatives by government for energy management in the ICT sector. It is calculated that approximately 31 billion IoT units will be installed by the year 2025. In 2019, there were more than 600 IoT platforms existing around the world. Furthermore, Li-Fi is capable of offering several advantages over current Wi-Fi technologies such as low power consumption, faster data transmission, improved data security and minimal electromagnetic interference, which in turn is projected to boost the demand for light fidelity in the forthcoming years. In addition, growing implementation of smart city projects in emerging economies worldwide is expected to provide ample growth opportunities to the market in the near future.