According to the report titled ‘Asia Pacific Li-Fi Market Size By Component, By Application, Research Report, Country Outlook, Price Trends, Growth Prospects, Competitive Industry Share & Forecasts, 2020 – 2030’ available with Market Study Report, Asia Pacific Li-Fi market is expected to touch USD 3 billion mark by the year 2030.
 

Convenience of transmitting large volume at high speed, ability to be interrupted by nearby radio frequencies, along with quicker communication are the benefits encouraging the adoption of Li-Fi across numerous enterprise, thereby boosting the growth of Asia Pacific Li-Fi market. Also, incorporation of connected devices with escalating sales of smart devices and accessibility to internet services will stimulate the industry outlook.
 

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On the downside, COVID-19 pandemic has resulted in high unemployment rate, impacting the discretionary income of the regional population, which has plunged the demand for Li-Fi in Asia Pacific.
 

Based on component, the market is divided as LED, photodetectors, and microcontrollers. Among these, LED segment is expected to show a substantial growth in the coming years, pertaining to rising awareness among the individuals to use energy-efficient lightings. Moreover, government initiatives for favoring the usage of energy-efficient products will bolster the component demand.
 

In terms of application, Asia Pacific Li-Fi market sphere is segmented as automotive, indoor networking, aerospace, healthcare, intrinsically safe environment, location-based services, defense & security, and underwater communication. Of these, defense & security segment holds a sizeable market share, owing to requirement of high-quality network connection for improved navigation capabilities, resulting in improved vision and overall security infrastructure.
 

Meanwhile, aerospace segment is slated to generate revenues over 2020-2030, pertaining to usage of connected devices having built-in sensors and remotely operated gadgets for enhanced overall efficiency, safety, and performance. Also, passengers prefer in-flight connectivity to carry out personal or professional activities, hence impelling Li-Fi deployment.
 

Regionally speaking, India market is anticipated to showcase lucrative growth trends through 2030, attributable to booming population, and decreasing costs leading to escalating sales of smartphones and electronic devices.
 

Major players in Asia Pacific Li-Fi marketplace are Acuity Brands Inc., Renesas Electronics Corporation, Fujitsu Limited, General Electric Company, Global LiFi Tech, KYOCERA SLD Laser Inc., Integrated System Technologies Limited, Velmenni OÜ, Lucibel SA, LVX System, Oledcomm, Panasonic Corporation, pureLiFi Ltd., Qualcomm Technologies Inc., Lightbee, LumEfficient Lighting Corporation, Signify N.V., VLNComm Inc., and Zero 1 Pte Ltd.