Optical Wireless Communication and Li-Fi Market- An Overview
Optical wireless communication (OWC) is a form of optical communication wherein unguided infrared (IR), ultraviolet (UV), and visible light are utilized as a signal carrier. Optical wireless communication systems are known to operate within visible bands are also commonly known as visible light communication (VLC). As wireless communications proliferated, the demand for optical communication and Li-fi technologies became highly prominent than ever and made inroads into multiple applications.
As per the current scenario, majority of the mobile data traffic is being consumed indoors, wherein light fidelity (LiFi), a part of the family of optical wireless communication, offers a multitude of advantages and effective solutions to numerous issues of wireless communication. Although wireless networks that are existing currently are being overpowered by radio-based technologies, optical wireless communication and Li-fi solutions are set to witness sheer proliferation in the years to come owing to their importance in the futuristic wireless communication frameworks.
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Optical Wireless Communication and Li-Fi Market- Novel Developments
Key players operating in the optical wireless communication and Li-fi market include General Electric, Broadcom Inc., Panasonic Corporation, Honeywell International, Philips Lighting, and others.
- In 2019, Broadcom Inc.- a key player in the optical wireless communication and Li-fi market- made an official announcement that Barclays has signed a definitive agreement as a PLA (Portfolio License Agreement) customer. This agreement, in turn, would help the companies drive considerable savings with the help of state-of-the-art technologies to revamp their digital infrastructure.
- In 2018, Honeywell International- a leading player in the optical wireless communication and Li-fi market- entered into a collaboration with Ball Aerospace in a bid to develop & produce highly-reliable and high-quality optical communication data links. These links provide immense scope for satellite operators to deliver optimal and high-capacity connectivity to the users spread across the globe. Combined, two of these companies will establish a paradigm for volume production of optical terminals for impeccable ground-to-space communications.
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Optical Wireless Communication and Li-Fi Market- Dynamics
Optical Wireless Communication and Li-Fi Market- Adoption across Multiple Applications to Offer Numerous Revenue-Making Opportunities
With the significant boom in solid-state lighting solutions, LEDs are now finding extensive applications in luminaire, lamps, and many other devices for illumination. All of these lighting devices are being widely-recognized as potential data providers for seamless optical wireless communication technology ‘LiFi (light fidelity)’. This, in turn, is likely to create favorable circumstances for the key players of optical wireless communication and Li-fi market.
Li-fi is well-known in terms of its potency to address specific issues across multiple applications. On a whole, Li-fi carries the potential to provide extra bandwidth capacity to an overall communication network, making it a viable proposition for end-users to invest in. It can’t be denied that the ultimate key to optical wireless communication and Li-fi market’s growth is the ever-evolving demand for effective communication technologies. On account of their speed and connectivity, optical wireless communication and Li-fi technologies are finding significant use in electromagnetic-sensitive areas, including airplanes, nuclear power plants, and hospitals.
Optical Wireless Communication and Li-Fi Market- Rising Penetration of Internet Services to Propel Growth
On account of incessant penetration of the internet and ever-increasing need for high bandwidth and data transmission speed & capabilities, optical wireless communication and Li-fi technologies are being widely embraced across the globe. Either as a stand-alone or a complementary technology to the radio wave-based wireless networking (WiFi) paradigms, optical wireless communication and Li-fi market is witnessing sheer proliferation and is likely to reach new heights during the forecast period.
Multiple advantages offered by optical wireless communication and Li-fi technologies continue to be the key selling points, driving growth of optical wireless communication and Li-fi market. Li-fi makes use of the existent infrastructure (e.g., office, retail, industrial lighting systems, home) and is immensely safe and secure in terms of usability. This, in turn, is fostering the popularity of this technology, thereby driving the optical wireless communication and Li-fi market. Promising innovations and new product launches remain the key essence of growth & consolidation in the optical wireless communication and Li-fi market.
Optical Wireless Communication and Li-Fi Market- Lack of Awareness Regarding the Operational Advantages to Hinder Growth
Lack of awareness regarding multimodal benefits of optical wireless communication and Li-fi technologies is likely to hinder growth of optical wireless communication and Li-fi market. In addition, skepticism and misconceptions associated with the technologies are further likely to challenge growth of optical wireless communication and Li-fi. Experts are of the opinion that the impact of these restraining factors is likely to fade over the time as consumer demand for effective wireless connectivity and high data rates is not likely to slow down anytime soon.
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Optical Wireless Communication and Li-Fi Market- Segmentation
By application, the optical wireless communication and Li-fi market can be segmented into
By product type, the optical wireless communication and Li-fi market can be segmented into
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