Dublin, March 28, 2022 (GLOBE NEWSWIRE) -- The "Global Wi-SUN Technology Market By Component (Hardware, Software, and Services), By Application (Smart Meters, Smart Buildings, Smart Street Lights, and Others), By Regional Outlook, Industry Analysis Report and Forecast, 2021 - 2027" report has been added to ResearchAndMarkets.com's offering.
The Global Wi-SUN Technology Market size is expected to reach $5,950.2 million by 2027, rising at a market growth of 21.7% CAGR during the forecast period.
Wi-SUN technology, which is the abbreviation of wireless smart utility network refers to a kind of wireless communication standard, which enables effortless connectivity among smart-grid devices. This Wi-Sun technology is based on numerous IEEE, IETF, and ANSI/TIA standards that reinforce the low power & loss networks.
Wi-SUN is also providing mesh-based field area networks (FAN) to deliver secure, resilient, and cost-effective connectivity with ubiquitous coverage in a variety of topographical surroundings, from densely populated urban areas to rural areas, with minimum additional infrastructure. For instance, Oklahoma Gas & Electric, a utility company is utilizing Wi-SUN technology to network of approx. 250,000 streetlights, at the same time, cities like Copenhagen, Glasgow, Bristol, Halifax, London and Paris have also embedded the network in various smart streetlight projects to expand their smart city infrastructure.
These standard helps in empowering large-scale outdoor IoT networks such as wireless mesh networks for Advanced Metering Infrastructure (AMI), distribution automation, home energy management, and some other large-scale outdoor network applications like HAN (Home Area Networks) and FAN (Field Area Networks).
Several technological advancements in hardware products like wireless modules, routers, sensors, and HEMS controllers & software solutions like sensor device software & gateway software, is expected to contribute to the increasing popularity of WI-SUN technology in the world.
COVID-19 Impact Analysis
The outbreak of the COVID-19 pandemic has a significant impact on the Wi-SUN technology market due to the adoption of Wi-SUN technology solutions across different industries of the business domain. With the shifting lifestyle of the consumer and various disruptions in economic growth, the popularity of smart cities has also increased in the world. Therefore, the pandemic has substantially surged the demand for Wi-SUN technology across the world.
The investment of governments and municipalities in smart city initiatives is gradually increasing in the world, which is estimated to spur the growth of Wi-SUN technology in the post-COVID period. In addition, the adoption and penetration of Wi-SUN technology among enterprises and authorities have witnessed a surge across the globe during the COVID-19 pandemic.
Market Growth Factors:
Increase in the number of smart cities
Wi-SUN technology is expected to become a feasible solution for the companies due to the consortiums being made with the help of numerous key technology providers. The increasing development of smart cities and smart infrastructure for removing communication costs with earlier standards like LPWA is expected to contribute to the high demand for Wi-SUN technology in the upcoming years.
Rising usage of smart & connected devices
There is a rise in the utilization of various smart & connected devices like thermostats, smart meters, and other kinds of smart home appliances across the world, which is expected to support the growth of the Wi-SUN technology market. Also, a rising inclination towards a sustainable way of living among consumers is expected to create more demand for sustainable technology owing to the emergence of applications of IoT and its high adoption.
Market Restraining Factor:
Availability of cost-effective 5G and 4G IoT connectivity for smart meters
To integrate and connect smart meters, several utility companies are shifting from mesh technology like Wi-SUN with distributed access points to 4G and 5G cellular, which is expected to restrict the demand and growth of the Wi-SUN technology market over the forecast period. In addition, the high efficiency and low cost of implementing advanced 4G and 5G cellular technology in smart meters is expected to motivate companies to deploy them instead of Wi-SUN technology.
Component Outlook
Based on component, the Wi-SUN technology market is divided into hardware, software, and services. The hardware segment dominated the Wi-SUN technology market in 2020 and is estimated to continue this trend over the forecast period. It is due to the fact that any organization cannot add further capabilities to interoperability using the Wi-SUN approach without upgrading their hardware components. Hence, hardware components play an important role in enhancing the operations and interoperability of the technology.
Application Outlook
By application, the Wi-SUN technology market is segmented into smart meters, smart street lights, smart buildings, and others. The smart meters segment procured the highest share in the Wi-SUN technology market in 2020 and is estimated to continue this trend over the forecast period. The increasing adoption of smart meters to streamline a comprehensive range of applications in demand-side management, remote meter reading, customer relationship management, and value-added services is estimated to fuel the growth of the segment.
Regional Outlook
Region-wise, the Wi-SUN technology market is analyzed across North America, Europe, Asia Pacific, and LAMEA. North America emerged as the leading region in the Wi-SUN technology market in 2020. This growth is attributed to the factors like the growing prevalence of Wi-SUN technology across this region. In addition, there are several factors like the presence of numerous leading device manufacturers & network service providers in the US, rising organization sizes, and growing applications of Wi-SUN technology, which is expected to augment the growth of the regional market over the forecast period.
Cardinal Matrix - Wi-SUN Technology Market Competition Analysis
The major strategies followed by the market participants are Partnerships. Based on the Analysis presented in the Cardinal matrix; Cisco Systems, Inc. is the major forerunners in the Wi-SUN Technology Market. Companies such as Toshiba Corporation, Analog Devices, Inc., Murata Manufacturing Co., Ltd. are some of the key innovators in the Market.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Cisco Systems, Inc., Texas Instruments, Inc., Toshiba Corporation, Analog Devices, Inc., Renesas Electronics Corporation, Murata Manufacturing Co., Ltd., Itron, Inc., Landis+Gyr Group AG, Rohm Semiconductors Co., Ltd., and Trilliant Holdings, Inc.
Key Topics Covered:
Chapter 1. Market Scope & Methodology
Chapter 2. Market Overview
2.1 Introduction
2.1.1 Overview
2.1.1.1 Market Composition and Scenario
2.2 Key Factors Impacting the Market
2.2.1 Market Drivers
2.2.2 Market Restraints
Chapter 3. Competition Analysis - Global
3.1 Cardinal Matrix
3.2 Recent Industry Wide Strategic Developments
3.2.1 Partnerships, Collaborations and Agreements
3.2.2 Product Launches and Product Expansions
3.2.3 Acquisition and Mergers
3.3 Top Winning Strategies
3.3.1 Key Leading Strategies: Percentage Distribution (2017-2021)
3.3.2 Key Strategic Move: (Partnerships, Collaborations & Agreements: 2018, Jun - 2021, Nov) Leading Players
Chapter 4. Global Wi-SUN Technology Market by Component
4.1 Global Hardware Market by Region
4.2 Global Software Market by Region
4.3 Global Services Market by Region
Chapter 5. Global Wi-SUN Technology Market by Application
5.1 Global Smart Meters Market by Region
5.2 Global Smart Buildings Market by Region
5.3 Global Smart Street Lights Market by Region
5.4 Global Other Application Market by Region
Chapter 6. Global Wi-SUN Technology Market by Region
Chapter 7. Company Profiles
7.1 Cisco Systems, Inc.
7.1.1 Company Overview
7.1.2 Financial Analysis
7.1.3 Regional Analysis
7.1.4 Research & Development Expense
7.1.1 Recent strategies and developments:
7.1.1.1 Partnerships, Collaborations, and Agreements:
7.1.1.2 Product launches and Product Expansions:
7.1.2 SWOT Analysis
7.2 Texas Instruments, Inc.
7.2.1 Company Overview
7.2.2 Financial Analysis
7.2.3 Segmental and Regional Analysis
7.2.4 Research & Development Expense
7.2.5 SWOT Analysis
7.3 Toshiba Corporation
7.3.1 Company Overview
7.3.2 Financial Analysis
7.3.3 Segmental and Regional Analysis
7.3.4 Research and Development Expense
7.3.5 SWOT Analysis
7.4 Analog Devices, Inc.
7.4.1 Company Overview
7.4.2 Financial Analysis
7.4.3 Regional Analysis
7.4.4 Research & Development Expenses
7.4.5 Recent strategies and developments:
7.4.5.1 Partnerships, Collaborations, and Agreements:
7.4.6 SWOT Analysis
7.5 Renesas Electronics Corporation
7.5.1 Company Overview
7.5.2 Financial Analysis
7.5.3 Segmental and Regional Analysis
7.5.4 Research & Development Expense
7.5.5 Recent strategies and developments:
7.5.5.1 Product Launches and Product Expansions:
7.6 Murata Manufacturing Co., Ltd.
7.6.1 Company Overview
7.6.2 Financial Analysis
7.6.3 Segmental and Regional Analysis
7.6.4 Research & Development Expense
7.7 Itron, Inc.
7.7.1 Company Overview
7.7.2 Financial Analysis
7.7.3 Segmental and Regional Analysis
7.7.4 Research & Development Expense
7.7.5 Recent strategies and developments:
7.7.5.1 Partnerships, Collaborations, and Agreements:
7.7.5.2 Acquisitions and Mergers:
7.8 Landis+Gyr Group AG
7.8.1 Company Overview
7.8.2 Financial Analysis
7.8.3 Regional Analysis
7.8.4 Research and Development Expense
7.8.5 Recent strategies and developments:
7.8.5.1 Partnerships, Collaborations, and Agreement:
7.8.5.2 Acquisitions and Mergers:
7.9 Rohm Semiconductors Co., Ltd.
7.9.1 Company Overview
7.9.2 Financial Analysis
7.9.3 Segmental and Regional Analysis
7.9.4 Research & Development Expense
7.9.5 Recent strategies and developments:
7.9.5.1 Partnerships, Collaborations, and Agreements:
7.9.5.2 Product launches and Product Expansions:
7.10. Trilliant Holdings, Inc.
7.10.1 Company Overview
7.10.2 Recent strategies and developments:
7.10.2.1 Partnerships, Collaborations, and Agreements:
For more information about this report visit https://www.researchandmarkets.com/r/48ygev
