The wired networks experience the gamut components for mounting internet connections. It not only outpourings the cost, but with the mechanisms such as hubs, Ethernet cables, and switches, whole frame fuels in the multiple complexities. To overwhelm such challenges, Wi-Fi has become an excessive alternative. This technology gears up the high-frequency radio waves in the place of wired networks. Likewise to Wi-Fi, another technology Li-Fi has developed that utilizes the detectable light communications in place of the radio signals. Moreover, Li-Fi provided the high-speed in a much more protected manner that even the newest Wi-Fi developments cannot offer. Li-Fi enables 100 times faster data broadcast than Wi-Fi, building it more competent. Furthermore, the potential players of the wireless fidelity and light fidelity market are doing significant development for advancing the applications of the technology and removing the barriers to transmit the data which further benefitted for delivering the better consumer satisfaction and leading the fastest market growth with the handsome amount of share across the globe in the coming years during the forecasted period.
According to the report analysis, ‘Worldwide Wireless Fidelity (Wi-Fi) and Light Fidelity (Li-Fi) Market – Drivers, Opportunities, Trends, and Forecasts: 2016-2022’ states that there are several key players which are presently functioning in this sector more actively for leading the fastest market growth and dominating the high value of market value in the coming years around the globe more significantly while developing the technologies of network coverage, increasing the security concerns and develop the knowledge related to such technologies include pure LiFi, IBSEN telecom Ltd, Alcatel-Lucent SA, Ericsson, HPE, Cisco Systems Inc, Lucibel, Ruckus Wireless Inc, GE Lighting, Renesas Electronics Corp, LIGHTBEE, Velmenni, Oledcomm S.A.S., and several others. Moreover, many of the players in this market are doing effective developments in the working strategies and enlarging the business while adopting the strategies of joint ventures, mergers, and acquisitions, and partnership which further benefitted for increasing the value of a market share and leading the fastest market growth more significantly during the short span of time.
The Wi-Fi and Li-Fi markets are predicted to witness an estimated CAGR of 15.0% and 61.3%, respectively during the forecast period of 2016-2022. Moreover, in recent times, Wi-Fi & Li-Fi is becoming essential technologies with a significant increase in the advanced infrastructure. There are several business opportunities for the coming players in the market and cooperating with the great players in delivering numerous products and services. Particularly for the Li-Fi technology, new start-ups are inflowing with the technologically advanced products, services, and explanations in the market and are predicted to see double-digit growth in the next 5-7 years. In this space, the collaboration and merger & acquisition activities are anticipated to remain more significantly.
Although, efficient network speed, a significant increase in productivity, growing demand for wireless devices, new business opportunities for the SMEs, smart infrastructure and several others are some major growth factors of this market. Therefore, in the near future, it is predicted that the market of wireless fidelity and light fidelity will increase around the globe more significantly over the reviewed period.
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Ankur Gupta, Head Marketing & Communications