The increasing shift to Wi-Fi and Li-Fi from wired networks will enable many new business models. With the evolution of standards of networking and need of service providers, the applicability of Wi-Fi and Li-Fi technologies will change and move toward the use of IoT, Big Data, and analytics.
According to Infoholic Research, global market research and consulting company, implementation of Wi-Fi is becoming ubiquitous, and nearly 70–80% of the internet users will adopt this technology.
Li-Fi technology is still under innovation and has just made inroads in commercial industries, which is expected to boost the market in the next 5–10 years. Wi-Fi and Li-Fi, being wireless technologies, help organizations to reduce the cost, increase the productivity & bandwidth, and offer secure & reliable connection, said the company.
The Li-Fi market is expected to grow at a CAGR of 61.3% during the forecast period 2016–2022 to touch an aggregate of $11,202.6 million by 2022. During the same period, the Wi-Fi market is expected to grow at a CAGR of 15.0% to touch an aggregate of $49.10 billion.
In terms of verticals, indoor networking, defence & communication security, and aerospace (in-flight operations) play a primitive role in Li-Fi market mainly due to the technology innovation, smart/connected devices penetration, and growing IoT trend. The indoor networking market is expected to grow at a CAGR of 60.0% during the forecast period.