Li Fi Growth Opportunities and Applications in Various Sectors

The Global Light Fidelity (Li-Fi) Market was valued at around USD 455 million in 2015. It is expected to grow beyond USD 101 billion during the forecast period (2016- 2024).

Light fidelity is a visible light communication (VLC) system. This system runs high speed wireless communications. Li-Fi uses common household LED light bulbs to transfer data boosting speed up to 224 gb (gigabits) per second.

Increasing need for eco-friendly technology is expected to drive the market. Moreover, longer life, low power consumption, and high illumination are expected to augment market growth in the coming years. Government promotion for these lights is expected to boost market growth till 2024. The light fidelity market is split into components, application, and geographies.

Li-Fi components include LED, photo-detector, and microcontroller. LED based light-fidelity devices held over 40% of the market share in 2015.

These LED lights can be controlled to switch on and off to generate a digital string of binary numbers. Moreover, it can also change colors to red, green, and blue.

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Photo-detectors, accounted for over 30% of market revenue in 2015. Microcontroller segment was valued at more than USD 95 million that year.

On the basis of application, the industry is split into automotive & transportation, consumer electronics, defense & security and aviation, healthcare, and retail. Retail sector held market shares surpassing 30% in 2015.

The automotive & transport segment is anticipated to witness a CAGR of over 80%. This segment is expected to grow at the fastest rate. Technological advancements and communication machinery of cars is expected to increase adoption of these lights in traffic and car lights.

Geographies comprise of North America, Latin America, Asia Pacific, Europe, and the Middle East & Africa (MEA). North America light fidelity industry accounted for more than 40% of the global market share, in 2015. This region is expected to grow at a CAGR of around 76% during the forecast period.

Europe has established the infrastructure of Li-Fi communication systems and is expected to show positional growth in the region. This will create a large platform for market growth in the coming years.

The light fidelity market in Asia Pacific was valued at over USD 95 million in 2015. It will witness a significant growth of around 30% by 2024. This growth can be attributed to the contribution made by countries like Korea, China, and Japan.

Key market players encompass ByteLight Incorporated, Lightbee Corporation, Ibsentelecom Limited, and PureLifi Limited. The adoption of Li-Fi is at its budding stage and is used in limited niche applications. Therefore, an extensive research & development investment could benefit the players in the long run.

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Rise in Digitization and Network Communications is Driving the Wireless Charging Market

Wireless Charging Market is expected to grow beyond USD 20 billion by 2024. Elimination of cables allows clutter-free charging, which has impelled the consumption levels. Another growth driving factor for the global market includes the growing demands for smartphones, specifically in India, China, and South Korea. The rise in infrastructural development, digitization, and network communications has also driven the growth. Moreover, rising demands across the automotive industry on account of the increased sales of electric vehicles is also a key market driver. The global market is segregated as applications, technologies, and regions.

The application sector includes defense, consumer, automotive, healthcare, and industrial. The consumer application sector led the global market and is expected to generate a revenue share of more than USD 16 billion by 2024. Rising demands for wireless chargers is likely to augment the segment. The healthcare sector is projected to be the most lucrative application sector, with a CAGR of over 38 % over the forecast period (from 2016 to 2024).

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The technology sector comprises resonant, Radio Frequency (RF), and inductive. Inductive wireless charging market led the overall technology sector, particularly in the automotive industry, in 2015. However, this technology is inconvenient for a multi-device ecosystem since it permits just a single device to be charged per coil. The RF technology sector is expected to exceed USD 3.5 billion by 2024 growing at a CAGR of over 45 % from 2016 to 2024. This is mainly because it eradicates the necessity for appropriate alignment in case of any small devices.

Regionally, the United States occupied over 30 % of the total revenue in 2015. High tendency to spend on these devices because of the high levels of technological awareness and advancements are anticipated to favorably impact the market growth. In addition to this, significant technological proliferation across various application sectors is also likely to be a key growth driver. The Asia-Pacific wireless charging market is projected to reach USD 12 billion by 2024 growing at a healthy CAGR of over 35 % during the estimated years.


The major companies in the global market include WiTricity Corp.; PowerbyProxi Ltd.; Qualcomm Inc.; and Integrated Device Technology Inc. (IDT). New players generally work together with technology providers and then launch their products. However, huge set-up costs may pose a challenge to these new companies that want to establish and develop their market presence.

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Smart Machines Market :  Increasing technological advancement coupled with research and development actions has forced to growth of smart machines.


LiDAR technology market : LiDAR technology market is anticipated as growing market with the increasing requirement for 3-dimension imagery in various end-use segments.

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Home Automation Market Size is Likely to Value USD 39.88 Billion By 2024

The global Home Automation Market is expected to reach USD 39.88 billion by 2024, driven by rising necessity of consumers for protection against fire and break-ins. Availability of automated systems that can be operated over high-speed Wi-Fi, powerful smart phone ubiquitous, and growing popularity of Internet-connectable gadgets is expected to drive market growth. Moreover, reduced energy consumption and availability of a broad range of products is anticipated to boost the home automation market.

North America was the largest market accounting for 35.7% of the share in 2016, owing to the adoption of the technology and availability of affordable solutions is expected to augment market growth. Europe is expected to witness sluggish growth over the forecast period on account of market saturation. Factors such as awareness towards security & safety of property, particularly in countries such as Germany, UK and France, is expected to drive the market over the forecast period. Asia Pacific, Central & South America, and the Middle East are expected to lead the global home automation market in the next few years.

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Wireless systems were extensively used and are expected to witness a growth at an 11.7% CAGR on account of shift of consumers to a hands-free method of operation. Computing network is anticipated to achieve substantial growth in future owing to the availability of wearable computing devices and high-speed internet connectivity.

Safety & security was the largest contributor and is expected to witness the fastest growth on account of advancement of technology such as biometric enabled lock system, camera feeds, and alarm systems which prevent theft and burglary. Mainstream automation systems are expected to witness significant growth in upcoming years on account of its ability to integrate all smart electronic appliances to form one intelligent system which can be accessible by the user.

Custom automation systems are anticipated to grow on account of its ability to provide features which suit the personal requirement of the customer. Moreover, these systems are available over a broad price range, thus, providing a consumer with the option of picking and choosing functions that suit their homes.

Hexa Research has segmented the global home automation market based on technology, application, type and region:

Segmentation by networking technology, 2014 - 2024 (USD Million)

• Wired systems

• Power-line systems

• Computing networks

• Wireless systems

Segmentation by application, 2014 - 2024 (USD Million)

• Lighting

• Safety & security

• HVAC

• Entertainment

• Energy management

• Others

Segmentation by type, 2014 - 2024 (USD Million)

• Custom Automation

• Mainstream Automation System

• Do-It-Yourself (DIY)

• Managed Home Automation

Segmentation by region, 2014 - 2024 (USD Million)

• North America

    • U.S.

• Europe

    • Germany

    • UK

• Asia Pacific

    • China

• Central & South America

    • Brazil

• MEA

Key players analyzed

• Siemens AG

• ABB

• Honeywell

• Crestron Electronics, Inc.

• Schneider Electric

• Johnson Controls, Inc.

• Control4 Corporation

• Ingersoll-Rand PLC

• Legrand

• Leviton Manufacturing Company, Inc.

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About Us:

Hexa Research is a market research and consulting organization, offering industry reports, custom research and consulting services to a host of key industries across the globe. We offer comprehensive business intelligence in the form of industry reports which help our clients obtain clarity about their business environment and enable them to undertake strategic growth initiatives.

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Military Radar Systems Market Overview and Outlook

The global Military Radar Systems Market to reach USD 14.46 billion by 2024, driven by the rising need for improving safety and security on the borders and rising conflicts among neighboring nations. North America was the largest regional market commanding the highest revenue share in 2016 and is expected to maintain its dominance over the forecast period.

The region is home to many active vendors such as Raytheon Company and Northrop Grumman Corporation in the defense market at large. Rise in investment activities, especially in developing countries such as China and India to strengthen their armies is expected to boost the military radars systems market over the forecast period.

The ground-based radar platform dominated the market owing to its uses and applications in surveillance and weapon guidance. The segment is expected to continue to dominate the market over the forecast period as well. Airborne radars are widely used for guiding missiles and for tracing accurate and precise targets. Naval radars are expected to follow a similar growth trajectory with an expected increase in demand over the forecast period.

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Growing safety and security concerns with the nations along with rising investments and defense budgets are expected to spur growth in military radar systems market. Technological advancements in the military radar systems industry are leading to the growth and development of lightweight military radars which is projected to add to the growth of the market over the forecast period.

The military radar systems market is estimated to witness growth in demand owing to the escalation in terrorist activities, border intrusions, and inter-country conflicts. Military radars are used for accurate and precise detection, surveillance, tracking, warning, and ground mapping of weapons and aircraft in the war zone.

While the market for military radar systems is expected to grow over the forecast period, it remains susceptible to the prevailing economic situations. The result of economic slowdown has affected military spending in many countries, hindering the growth opportunities for defense market at large.
European countries, such as Germany, UK, and Russia have observed cut down in defense expenditure owing to the financial crises and macroeconomic conditions. Furthermore, the development of space-based radars involves considerable expenditure on R&D activities, engineering, and production.

Hexa Research has segmented the global military radar systems market based on platform, application and region:
Segmentation by platform, 2014 - 2024 (USD Billion)
• Ground-Based
• Naval
• Airborne
• Space-based
Segmentation by application, 2014 - 2024 (USD Billion)
• Weapon guidance system
• Surveillance
Segmentation by region, 2014 - 2024 (USD Billion)
• North America
    • U.S.
• Asia Pacific
    • China
    • India
• Europe
    • France
    • UK
Key players analyzed
• Lockheed Martin Corporation
• Boeing
• Northrop Grumman Corporation
• Raytheon Company
• Saab Sensis Corporation
• BAE System PLC
• Airbus Group
• General Dynamics Corporation
• Leonardo DRS
• Harris Corporation

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About Us:

Hexa Research is a market research and consulting organization, offering industry reports, custom research and consulting services to a host of key industries across the globe. We offer comprehensive business intelligence in the form of industry reports which help our clients obtain clarity about their business environment and enable them to undertake strategic growth initiatives.

Contact Us:

Ryan Shaw

Hexa Research

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LiDAR Market Growth, Trends and Forecasts to 2024

Global LiDAR Market was worth USD 260 million in 2015. It is estimated to grow at a CAGR of 12% from 2016 to 2024 (forecast period). Rising demand for 3D imaging technology in a variety of applications is an important market driver. The adoption of aerial systems for detection and exploration of historic details is increasing. Vendors are in the process of introducing several novel products in this space. These factors are propelling market growth.

However, LiDAR system’s components like laser scanner, navigation systems, high-resolution 3D cameras, etc. are expensive. This coupled with poor consumer awareness may hamper its future prospects.

The market is segmented as per applications, products, components, and regions. Applications are divided into civil engineering, government, topographical surveys, corridor mapping, and military & defense. Civil engineering, which includes areas like power line deployments and flooded mapping, would grow at a CAGR of 17% over the forecast period.

Topological surveys, and military & defense are projected to grow at a steady rate till 2024. Government applications could increase owing to technological developments in forestry management, railways, roadways, etc.

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Products comprise short range, airborne, mobile, and terrestrial. Terrestrial products held over 30% of the total revenues in 2015. Their advantages include remote acquisition and measurement, and high point density data. Mobile systems are foreseen to grow at a CAGR of over 24% in the next eight years. This attributes to surging demand for accurate, high-resolution 3D geospatial data. 

Components include   laser scanners, GPS (Global Positioning System), data storage & management, navigation/IMU (Inertial Measurement Unit), and others. ‘Others’ consist of MEMS (Micro-Electro-Mechanical Systems) mirror and cameras. IMU is expected to grow at a 23% CAGR through the forecast period.

North America, Europe, Asia Pacific, Latin America, and MEA (the Middle East & Africa) constitute the regional segments of the LiDAR market. North America is poised to dominate by 2024. It could account for over 39% of the market revenues that year. This is credited to widespread adoption of advanced 3D imaging technologies by the U.S. government. Asia Pacific should grow owing to escalating spending on military & defense.

Key players in the global market include Aerometric Quantum Spatial, Airborne Hydrography AB, Reigl Laser Measurement System GmBH, Michael Baker International, Lecia Geosystems AG. They focus on collaborations, acquisitions, and product launches to gain market share.

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About Us:

Hexa Research is a market research and consulting organization, offering industry reports, custom research and consulting services to a host of key industries across the globe. We offer comprehensive business intelligence in the form of industry reports which help our clients obtain clarity about their business environment and enable them to undertake strategic growth initiatives.

Contact Us:

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Hexa Research

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3D Scanner Market Size, Share and Analysis

The global 3D Scanner Market is expected to reach USD 7.4 billion by 2024. It should grow at a CAGR over 11.5 % during 2016 to 2024 (forecast period). Wider adoption of these devices in applications; such as rapid prototyping, quality control, reverse engineering, etc. will augment growth of this industry. Software & hardware providers lay stress on workflow enhancement & usage convenience, thus boding well for the market and propelling its sales.  

The workflow is generally complicated for those new to 3D scanning. This coupled with costly scanners hampers the growth of 3D scanners. However, the demand for accurate, quick, & effective results primarily would drive the 3D scanner market. In addition to this, scanner properties; like affordability can also propel the market. ‘Handheld 3D scanner’ & technological expansion are projected to drive the industry demand in the near future. The market is categorized into products, ranges, applications, and regions.

Products include structured light, laser, and optical. Laser scanners led the market in 2013. However, optical and structured light are anticipated to grow rapidly. Optical scanners should grow at a healthy CAGR (over 11 %) during the forecast period. Ranges consist of short, medium, and long. Short range scanners dominated in 2013. They will maintain their dominance till 2024. Medium is likely to gain considerable shares, at a CAGR of 11 % till 2024. Long range is said to be growing slowly due to its high costs.

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Applications in the 3D scanner market are aerospace & defense, industrial manufacturing, healthcare, entertainment & media, and engineering & architecture. Industrial manufacturing reigned in 2014, accounting for 30 % shares. 3D scanning can be a critical component of quality & inspection control across construction industry.

Entertainment & media should witness the highest growth. It is estimated to reach USD 600 million by 2024, at a healthy CAGR of 13 %. Rising significance of market devices in architecture may be attributed to the advent of portable 3D scanners. 3D scanners help in archiving and preserving architectural pieces from museums. Engineering & architecture will hold over 12.5 % shares by 2024.
Geographically, the worldwide 3D scanner market is fragmented on the basis of Europe, North America, Latin America, Asia-Pacific, and RoW. North America reigned in 2013 and can lead over the forecast period. Latin America is said to be the most lucrative region. It is predicted to exceed USD 750 million by 2024, at a CAGR of 13 % in the near future.

The same would be attributed to rising adoption of 3D scanners across various application and end-user industries. Asia-Pacific held over 23% shares in 2014. This region is expected to grow rapidly, surpassing incomes worth USD 1.5 billion by 2024. Major companies in the global market comprise Basis Software Inc. (Surphaser); 3D Digital Corp.; Topcon Corp.; and FARO Technologies.

The industry is marked by strong rivalry and often indulges in mergers & acquisitions. Firms cater to different sectors; like manufacturing, aerospace, education & research, and consumer goods. Introduction of ‘quality’ & ‘affordable’ 3D scanners provide future market prospects. 

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Hexa Research is a market research and consulting organization, offering industry reports, custom research and consulting services to a host of key industries across the globe. We offer comprehensive business intelligence in the form of industry reports which help our clients obtain clarity about their business environment and enable them to undertake strategic growth initiatives.

Contact Us:

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Near Field Communication Market to Witness Growth in the coming years

According to Research Report by Hexa Research, Near Field Communication Market is likely to experience rapid growth across various applications in next few years. With increase in technology and increase in smart phone demand globally, this market has grown. The global Market of NFC was calculated at USD 1.06 billion in 2015 and expected to rise at CAGR of 43.1% throughout forecast period from 2015 to 2020.The NFC industry provides major opportunities to direct mail marketing industry. It helps marketers in providing content through an embedded around field communication chip, which allows wireless communication when a user aces a mobile device with close proximity of NFC tag.

Payment options for mobile or m - commerce technology is estimated to take near field communication market into mainstream level. Contactless transactions with NFC enabled devices were the biggest application for this market in 2015, contributed a share for around 21% of global market. The main challenge for NFC contactless payments in upcoming years would be low stage of synchronization with other participants such as credit cards companies or banks, network operators and payment service providers.

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In 2015, North America was counted as the largest market with 32% of share contribution for near field communication due to significant demand of early implementation and contactless payments in the market. The NFC market can be categorized into auxiliary and non auxiliary products. Auxiliary products include NFC authorized SIM’s, Covers and Micro SD’s and Non Auxiliary segment consists of IC/Chips, readers and tags. Some of the mobile phones having in-built chips, which enable data, range over a short range. The security feature which NFC technology consists of is making the financial transactions more secure. Transfer capacity and data speed is another feature of technology which provides faster data transmission, which is expected to boost the NFC market globally. Increasing usage of NFC technology in social media sector is expected to provide positive impact on market growth.

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About Us:

Hexa Research is a market research and consulting organization, offering industry reports, custom research and consulting services to a host of key industries across the globe. We offer comprehensive business intelligence in the form of industry reports which help our clients obtain clarity about their business environment and enable them to undertake strategic growth initiatives.

Contact Us:

Ryan Shaw

Hexa Research

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