Light Fidelity (Li-Fi) is a high-speed and bidirectional wireless technology that uses light through light emitting diodes (LEDs) to deliver fully networked communication. It transmits data over the electromagnetic spectrum similar to Wi-Fi. However, unlike Wi-Fi, it utilizes visible light and not radio waves.Visible light communications work by switching the current to the LEDs at a rapid rate, making it unnoticeable to the human eye. Also, visible light communication is harmless for people and electronic devices as compared to radio and infrared communications. Li-Fi technology in conjunction with GPS is anticipated to provide effective vehicle communication and protection between the fleet of vehicles. Furthermore, it is not only expected to improve the services provided to passengers by transportation systems, but also enhance the quality of intelligent transportation systems in the future.
Visible spectrum, which is the Li-Fi frequency range, is 1000 times larger than the radio frequency spectrum on which Wi-Fi operates. Also, the U.S Federal Communications Commission has pointed out that Wi-Fi is close to its full capacity now. Therefore, Wi-Fi is expected to prove inadequate to meet wireless data traffic requirements in the future. This is anticipated to be a major driving factor for the growth of the LI-Fi based fleet management market.
Moreover, since data communication in Li-Fi is line-of-sight, unwanted access of Li-Fi signal by unauthorized personnel is avoided, thereby maintaining the security level with higher data rate. As the Li-Fi module in fleet management combines communication, illumination, and tracking purposes together, the operating cost of vehicles is further reduced. This is expected to drive the Li-Fi based fleet management market.
The threat affecting the Li-Fi based fleet management market is signal interception from the light emitting source with the outdoor signals. The signal can also interfere with electronic devices such as smartphones. However, if all the other light emitting devices are properly shielded, the impact of this restraint is expected to reduce. Also, currently, Li-Fi technology is new and needs specialized hardware to be used in fleet management. Therefore, upgrades and innovation in technology is required in order to reduce installation cost with the help of Li-Fi and increase the return on investments.
New opportunities that are expected to boost the growth of the Li-Fi based fleet management market include increased demand for improved public transportation systems and development of such systems to intelligent transportation systems across the world. It is expected that through Li-Fi, vehicle to vehicle communication would improve owing to improved energy efficiency, as well as control the process costs. Thus, people are expected to experience high end technology rides at an economical rate due to Li-Fi based fleet management systems in the future.
The Li-Fi based fleet management market can be segmented on the basis of component, application, and geography. The component segment can be further classified into hardware and software. The hardware sub segment can be further sub-divided into transmitter, receiver, and processor. In Li-Fi based fleet management, LED acts as the transmitter whereas phototransistor acts as the receiver. On the basis of application, the Li-Fi based fleet management market can be segmented into commercial, government, private transportation, and others. On the basis of geography, the Li-Fi based fleet management market can be segmented into North America, Europe, Asia Pacific, Middle East & Africa (MEA), and South America.
Some of the key players in the Li-Fi based fleet management market include Acuity Brands, Inc., Axrtek, Inc., Fujitsu Ltd., General Electric Co., IBSENtelecom Ltd., Koninklijke Philips N.V., Qualcomm Technologies, Inc., Lucibel SA, pureLiFi Ltd., Renesas Electronics Corp., Wipro Limited, and Panasonic Corporation among others.
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