The latest report published by Report Ocean, titled “Worldwide Wireless Fidelity (Wi-Fi) and Light Fidelity (Li-Fi) Market: Global Industry Trends, Share, Size, Growth, Opportunity, and Forecast 2023 to 2031,” offers a comprehensive assessment of the industry, including valuable insights into market trends. The report encompasses competitor and regional analysis, as well as the latest developments in the market. It serves as an excellent resource for investors, researchers, consultants, marketing strategists, and anyone planning to enter the market in any capacity.
Overview:
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Wired networks incur gamut components for installing internet connection. It not only surges cost’ but with the components such as switches’ hubs’ and Ethernet cables’ whole frame drives in multiple complexities. To overcome such challenges’ Wi-Fi has become a great alternative. This technology implements high-frequency radio waves instead of wired networks.
Similar to Wi-Fi’ another technology Li-Fi has emerged that uses visible light communication instead of radio signals. Li-Fi delivers high-speed in a much more secure way that even the latest Wi-Fi advancements cannot offer. Li-Fi allows 100 times faster data transmission than Wi-Fi’ making it more competent.
Market Analysis:
The Wi-Fi and Li-Fi markets are estimated to witness a CAGR of 15.0% and 61.3%’ respectively during the forecast period 2016-2022. The Wi-Fi market is analyzed by deployment mode’ products’ services’ verticals’ and regions. The Li-Fi market is analyzed by components’ verticals’ and regions. Increasing productivity’ high speed’ reliable & secure communication’ and flexibility are the main reasons to switch to wireless Wi-Fi and Li-Fi technology. The Li-Fi market is emerging and being developed’ which would likely lead to an increase in the adoption of Li-Fi in the next 5-7 years.
Regional Analysis:
The Americas is set to be the leading region for the Wi-Fi and Li-Fi market growth followed by Europe and Asia Pacific for the adoption of technologies. Asia Pacific is known for improvements in infrastructure and IT investments by MNCs. Thus’ the region will have enormous potential for Wi-Fi connections. MEA is set to be the emerging region with a lot of opportunities and is expected to reach $4.09 billion (Wi-Fi) and $827.9 million (Li-Fi)’ respectively by 2022.
Vertical Analysis:
The major verticals covered in the report are IT & telecom’ education’ healthcare’ BFSI’ retail’ aerospace (in-flight operations)’ traffic management’ underwater applications’ and indoor networking. Globally’ the industry players are showing interest towards Wi-Fi and Li-Fi technology. The Wi-Fi technology is already being incorporated and is widely accepted in IT & telecom’ education’ and healthcare sectors due to the organization’s shift towards wireless ecosystem. The indoor networking segment is set to be the leading vertical for Li-Fi technology. The market revenue for indoor networking and traffic management is expected to reach $654.2 million and $5’509.4 million’ respectively by 2022.
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Key Players:
pureLiFi’ IBSENtelecom’ Alcatel-Lucent’ Ericsson’ Hewlett-Packard Enterprise (HPE)’ Cisco’ Lucibel’ Ruckus Wireless’ GE Lighting’ Renesas Electronics Corp.’ LIGHTBEE’ Velmenni’ and Oledcomm S.A.S.
Competitive Analysis:
The Wi-Fi & Li-Fi are becoming demanding technologies. There are enormous business opportunities for new players entering the market and collaborating with large players in providing various products and services. Especially for Li-Fi technology’ new start-ups are coming with technologically advanced products’ services’ and solutions in the market and are expected to see double-digit growth in the next 5-7 years. In this space’ collaboration and merger & acquisition activities are expected to continue.
Benefits:
The report provides an in-depth analysis of the Wi-Fi & Li-Fi market aiming to understand the networking environment. The report talks about deployment mode’ products’ services’ components’ verticals’ and regions for both Li-Fi and Wi-Fi. The key stakeholders can know about the major trends’ drivers’ investments’ vertical player’s initiatives’ and government initiatives towards the adoption in the next 5-7 years. Moreover’ the report provides details about the major challenges impacting the market growth.
Region/Country Cover in the Report
Middle East and Africa’GCC Countries’UAE and Kuwait’Africa’ Latin America-Brazil’Mexico.
Key Players Covered in the Report
pureLiFi’IBSENtelecom Ltd’Alcatel-Lucent SA’Ericsson’HPE’Cisco Systems Inc’Lucibel’Ruckus Wireless Inc
GE Lighting’Renesas Electronics Corp’LIGHTBEE’Velmenni’Oledcomm S.A.S.
Some of the metrics this research service discusses are:
Market Size:
- This metric quantifies the total value or volume of a market, providing an understanding of the market’s scale and potential.
Market Growth Rate:
- This metric measures the rate at which the market is growing over a specific period.
- It helps assess the market’s attractiveness and potential for investment.
Market Share:
- Market share metrics indicate the portion or percentage of the market captured by a specific company or product.
- It provides insights into the competitive position of market players.
Customer Satisfaction:
- Customer satisfaction metrics assess the level of satisfaction or dissatisfaction among customers with a product, service, or brand.
- It helps gauge customer loyalty and identify areas for improvement.
Pricing Analysis:
- Pricing metrics analyze the pricing strategies used in the market.
- This includes metrics such as average prices, price differentials between products or competitors, and price elasticity.
Market Segmentation:
- Segmentation metrics involve dividing the market into distinct segments based on factors such as demographics, geography, behavior, or psychographics.
- This helps understand the varying needs and preferences of different customer groups.
Customer Acquisition Cost (CAC):
- CAC is a metric that calculates the cost of acquiring a new customer. It helps evaluate the efficiency of marketing and sales efforts.
Customer Lifetime Value (CLV):
- CLV measures the total value a customer generates over their entire relationship with a company. It helps assess the long-term profitability of customer relationships.
Return on Investment (ROI):
- ROI metrics evaluate the profitability and effectiveness of an investment or marketing campaign.
- It measures the return or gain generated relative to the cost of investment.
Competitive Analysis:
- Competitive analysis metrics assess the performance and strategies of competitors in the market.
- This includes metrics such as market share, revenue growth, product portfolio, and customer satisfaction.
Key Performance Indicators (KPIs):
- KPIs are specific metrics that measure the performance of a business or organization.
- They can include metrics such as sales growth, market penetration, customer retention rate, and profitability.
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