A recently added report by Transparency Market Research, titled, “Li-Fi Based Fleet Management Market – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2017 – 2025,” studies the market in-depth. It sheds light on various important aspects and developments in the market such as its size, competitive dynamics, and expected growth trajectory.
Light Fidelity (Li-Fi) is wireless technology which is bidirectional. It can attain massive speeds as well. Like in Wi-Fi, it leverages an electromagnetic spectrum to transfer data. However, unlike Wi-Fi, it does not use radio waves. On the contrary, it uses visible light.
In the years ahead, Li-Fi technology along with GPS is predicted to offer proper vehicle communication and also protection between the fleet of vehicles. In addition, it is predicted to enhance the quality of services of transportation systems and also usher in seamless, futuristic intelligent transportation systems. The aforementioned are decidedly going to benefit the Li-Fi based fleet management market.
Li-fi wireless technology has other unique perceived benefits as well. For example, the frequency range of Li-Fi is 1000 times more than radio frequency spectrum on which Wi-Fi operates. Besides, as per the U.S Federal Communications Commission, Wi-Fi has achieved its total capacity by now. Hence, Wi-Fi may become insufficient to satisfy the need for wireless data traffic in the upcoming years. This is projected to majorly boost the demand for Li-Fi based fleet management market.
Another USP expected to boost the market for Li-Fi based fleet management is the fact that Li-Fi offer greater security since data communication in it is line-of-sight and thereby prevents access to Li-Fi signal by unauthorized personnel. This helps maintain security with higher data rate. Since, the Li-Fi based fleet management also combines illumination, communication, and tracking, it serves to bring down the cost of operation.
One factor posing a roadblock to the market for Li-Fi based fleet management is the interception of signal from the light emitting source with the outdoor signals. The signal can also interfere with electronic devices, namely smartphones. One way to contain the issue is by properly shielding other light emitting devices. Further, Li-Fi technology being new requires specialized hardware in fleet management. This requires upgrading the existing technology.
However, with greater demand for better public transport and soaring demand for intelligent transport systems, Li-Fi based fleet management market is expected to be bolstered further in the near future. Li-Fi will likely help improve communications between vehicles and contain process costs as well.
The two main components of Li-Fi based fleet management are software and hardware. The segment of hardware can be further divided into receiver, transmitter, and processor. In Li-Fi based fleet management, LED acts as the transmitter whereas phototransistor acts as the receiver. Depending upon application, the market for Li-Fi based fleet management can be divided into government, commercial, private transportation, etc. Geographically, South America, North America, Europe, Asia Pacific, and the Middle East and Africa are main segments of the market.
In order to assess the degree of competition in the global market for Li-Fi based fleet management, the report profiles players such as Axrtek, Inc., Acuity Brands, Inc., General Electric Co., Fujitsu Ltd., IBSENtelecom Ltd., Renesas Electronics Corp., Koninklijke Philips N.V., Qualcomm Technologies, Inc., Wipro Limited, Lucibel SA, pureLiFi Ltd., and Panasonic Corporation.