PORTLAND, Oregon and PUNE, India, November 17, 2016 /PRNewswire/ -- A new report published by Allied Market Research, titled, Light Fidelity (Li-Fi)/Visible Light Communication Market - Global Opportunity Analysis and Industry Forecast, 2014 - 2022, suggests that the global Li-Fi market is expected to reach $115 billion by 2022, growing at a CAGR of 116.8% from 2016 to 2022. In 2015, North America contributed major share in the market and will continue to lead throughout the forecast period. (Logo: http://photos.prnewswire.com/prnh/20140911/647229 ) Light Fidelity (Li-Fi) is a very high speed, two-way wireless communication method which uses visible light from LEDs as the medium for transmitting the data by turning them on and off at very high frequency which human eyes cannot sense. This technology is an apt replacement for currently prevailing Wi-Fi technology as Li-Fi is considerably faster, has almost 10,000 times broader bandwidth because it uses visible light, and it is safe to operate in electromagnetic sensitive areas. The market of Li-Fi technology is currently at its introductory stage, although it is anticipated to witness a very high growth rate in next five to six years owing to its exclusive advantages, such as safe to use with medical and aviation equipment as they do not create electromagnetic interference, very high speed of data transmission, enhanced data security and broader bandwidth in comparison to currently prevailing Wi-Fi technology.Get access to detailed report at:https://www.alliedmarketresearch.com/light-fidelity-visible-light-communication-market Li-Fi incorporates three major components, which are LED, photodetector, and microcontroller. Among the three components, in the year 2015, LED dominated the market by contributing over 40% share of the overall component segment revenue. Also, this segment is anticipated to grow with the highest CAGR 118.1% during the forecast period owing to its low cost, increased adoption in different applications such as households, offices, vehicles, airplanes and retail stores among others. Furthermore, LEDs are preferred over all other lighting systems as they can easily be turned off and on with the use of a microcontroller.