North American Li-Fi Market To Reach $2.5B By 2030
Market will be driven by cybersecurity, retail, and in-flight connectivity
According to a recent study from market research firm Graphical Research, by 2030 the North America Li-Fi market size is expected to surpass $2.5 billion, growing at 55 percent CAGR through the forecast period.
The rising number of cybersecurity challenges faced while using Wi-Fi over radio frequencies is one factor in the growing demand for high-speed, reliable, and safe Li-Fi networks. Being based on light sources such as LEDs or laser diodes, Li-Fi networks offer an alternative approach to using radio waves.
Another industry trend vitalising the North America Li-Fi market is the increasing demand for Li-Wi for location-based applications such as retail and commercial sectors.
In-flight connectivity will also contribute to the growth of the market, according to Graphical Research, because Li-Fi communication does not interfere with the wireless networks that pilots use for ground communication and navigation purposes.