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2021

Wi-SUN Technology Market

Wi-SUN Technology Market Size, Share, Competitive Landscape and Trend Analysis Report by Component and Application and Region: Global Opportunity Analysis and Industry Forecast, 2021-2030

IC : Software and Services

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Author's: Vikas Gaikwad and Kanhaiya Kathoke | Onkar Sumant
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The global Wi-SUN technology market was valued at $1,456.64 million in 2020 and is anticipated to reach $10,590.48 million by 2030, registering a CAGR of 21.7%. North America was the highest revenue contributor, accounting for $579.74 million in 2020, and is estimated to reach $3,010.87 million by 2030, with a CAGR of 17.7%. Factors such as increase in demand for smart and connected devices along with the ongoing trend of development of smart cities and smart infrastructure primarily drives the growth of the global Wi-SUN market. Furthermore, the need for enhanced customer experiences across many industrial verticals across the globe drives the Wi-SUN technology industry growth.

On the basis of component, the hardware segment led the Wi-SUN technology market in 2020 and is expected to maintain its dominance in the upcoming years as it is difficult to add further abilities utilizing the Wi-SUN approach to interoperability without upgrading hardware components. The software segment exhibited the significant growth in the Wi-SUN technology market in 2020, and is expected to maintain its dominance in the upcoming years. Growth of this segment is mainly driven by the need to analyze the data that is gathered via sensors.

Wi-SUN-Technology-Market

On the basis of application, the global Wi-SUN technology market share was dominated by the smart meters segment in 2020 and is expected to maintain its dominance in the upcoming years. Rise in adoption of smart meters to facilitate an extensive range of applications in customer relationship management, demand-side management, remote meter reading, and value-added services primarily drives the Wi-SUN technology market growth. The smart buildings segment, however is expected to witness the highest growth. Rise in buyer interest in building technology that optimizes energy consumption and lowers the operating cost acts as the prime factor driving the demand for the smart building technologies.

On the basis of region, North America dominates the Wi-SUN technology market owing to increase in prevalence of Wi-SUN technology in the region. Furthermore, the factors such as increase in organization sizes, presence of several leading device manufacturers and network service providers in the U.S., and increase in the application area of Wi-SUN technology significantly drive the growth of the market in North America. Asia-Pacific is expected to observe the highest growth rate during the forecast period attributed to the rapid urbanization along with the emerging developments in the field of device manufacturing and network service providers. 

The report focuses on the growth prospects, restraints, and Wi-SUN technology market analysis. The study provides Porter’s five forces analysis of the market Forecast to understand the impact of various factors such as bargaining power of suppliers, competitive intensity of competitors, the threat of new entrants, threat of substitutes, and bargaining power of buyers on the Wi-SUN technology market trends.

Segment Review

The Wi-SUN technology market is segmented on the basis of component, application, and region. By component, it is categorized into hardware, software, and services. By application, it is classified into smart meters, smart street lights, smart building, and others. Region wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

COVID-19 Impact Analysis

The global Wi-SUN technology market was valued at $1,456.64 million in 2020, and is projected to reach $10,590.48 million by 2030, registering a CAGR of 21.7%. The current estimation of 2030 is projected to be higher than pre-COVID-19 estimates. The COVID-19 outbreak had a low impact on the growth of the Wi-SUN technology market, as the acceptance of Wi-SUN technology solutions increased in the presence of unexpected conditions. Despite changes in the lifestyle of people and economic disruptions, smart cities are gaining traction; hence, the COVID-19 pandemic has significantly increased the demand for Wi-SUN technology. For instance, according to the BT Wholesale, the global spending on connected city initiatives is anticipated to reach $135 billion by 2021. 

Wi-SUN Technology Market
By Component
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Software segment is projected as one of the most lucrative segments.

Furthermore, the initiative by governments towards implementation of smart grid, renewables, and meter technologies is expected to increase the demand for Wi-SUN technology. For instance, the state of Hawaii is exploring solar energy, wind, and grid-scale storage technologies to accomplish its goal of zero emissions by 2045.

Top impacting factors    

The factors such as upsurge in demand for smart and connected devices along with the ongoing trend of development of smart cities and smart infrastructure primarily drives the global Wi-SUN market growth. In addition, desire for improved customer experiences across different industry verticals around the globe boosts growth of the market. Moreover, rise in awareness about the benefits of Wi-SUN technology and government initiatives coupled with renewable energy targets fuel the demand for the Wi-SUN technology enabled products and services. However, increase in issue of cyber security and lack of investment and funding for smart city projects may hamper the market growth to some extent. On the other hand, technological advancements in hardware products are expected to provide lucrative opportunities for the market growth during the forecast period.

Wi-SUN Technology Market
By Application
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Smart Buildings segment is projected as one of the most lucrative segments.

Upsurge in usage of smart and connected devices 

Upsurge in usage of smart and connected devices such as smart meters, thermostats, as well as other forms of smart home appliances is being observed around the globe. , There is an increase in the demand for sustainable technology due to the emerging applications of IoT and its growing adoption. On the other hand, Wi-SUN is a powerful and flexible wireless standard that supports a large number of connected devices economically. This technology will be a key to unlock massive IoT applications and services. Hence, there is huge demand for open standards-based interoperable products to support smart utility, large-scale industrial IoT, and smart city applications, such as smart metering and connected street lighting. Therefore, upsurge in usage of smart and connected devices significantly drives the growth of the market.

Technological advancements in hardware and software products 

There is rise in trend of upgrades in technology in hardware products such as wireless modules, sensors, routers, and HEMS controllers & software solutions such as sensor device software and gateway software is expected to offer numerous opportunities for market growth during the forecast period. For instance, in April 2021, Silicon Labs, a leading provider of silicon, software, and solutions for a smarter, more connected world, introduced its new standards-driven Wi-SUN technology. This includes a Silicon Labs' certified Wi-SUN solution that combines full-featured IPv6 mesh stack, the EFR32 hardware platform, and advanced development tools to enable secure wireless connectivity for a broad range of applications such as advanced metering infrastructure (AMI), asset management, street lighting networks, and smart city sensors pertaining to the parking, waste management, and air quality. Such technological developments are opportunistic for the growth of Wi-SUN technology market size. 

Wi-SUN Technology Market
By Region
2030
Asia-pacific 
North America
Europe
LAMEA

North America is projected as one of the most significant Region.

Key Benefits For Stakeholders

  • This study includes the Wi-SUN technology market analysis, trends, and future estimations to determine the imminent investment pockets.
  • The report presents information related to key drivers, restraints, and Wi-SUN technology market opportunity.
  • The Wi-SUN technology market size is quantitatively analyzed from 2020 to 2030 to highlight the financial competency of the industry.
  • Porter’s five forces analysis illustrates the potency of buyers & suppliers in Wi-SUN technology industry.

Key Market Segments

By Component    

  • Hardware
  • Software
  • Services

By Application

  • Smart Meters
  • Smart Street Lights
  • Smart Building 
  • Others

By Region

  • North America
    • U.S.
    • Canada
  • Europe 
    • UK
    • Germany
    • France
    • Italy
    • Spain
    • Netherlands
    • Rest of Europe
  • Asia-Pacific 
    • China
    • India
    • Japan
    • Australia
    • South Korea
    • Rest of Asia-Pacific
  • LAMEA
    • Latin America 
    • Middle East
    • Africa

Key Market Players

  • Analog Devices, Inc.
  • Cisco Systems Inc.
  • Itron
  • Landis + Gyr
  • Murata Manufacturing Co. Ltd.
  • Renesas Electronics Corporation
  • Rohm Semiconductor
  • Texas Instruments Incorporated
  • Toshiba Corporation
  • Trilliant Holdings Inc.

Wi-SUN Technology Market Report Highlights

Aspects Details
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By COMPONENT
  • HARDWARE
    • Sensors
    • Routers
    • Wireless Modules
    • Others
  • SOFTWARE
    • On-Premise
    • Cloud
  • SERVICES
    • Training and implementation
    • System Integration
    • Maintenance
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By APPLICATION
  • SMART METER
  • .SMART STREET LIGHTS
  • SMART BUILDING
  • OTHERS
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By Region
  • North America  (U.S., Canada, Mexico)
  • Europe  (France, Germany, Italy, Spain, UK, Russia, Rest of Europe)
  • Asia-Pacific  (China, Japan, India, South Korea, Australia, Thailand, Malaysia, Indonesia, Rest of Asia-Pacific)
  • LAMEA  (Brazil, South Africa, Saudi Arabia, UAE, Argentina, Rest of LAMEA)
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Key Market Players

RENESAS ELECTRONICS CORPORATION, ANALOG DEVICES, INC., TEXAS INSTRUMENTS INCORPORATED, TRILLIANT HOLDINGS INC., CISCO SYSTEMS INC., ROHM SEMICONDUCTOR, LANDIS + GYR, TOSHIBA CORPORATION, MURATA MANUFACTURING CO. LTD., ITRON, INC.

Analyst Review

The Wi-SUN technology market is going through enormous transformation and growth. Wi-SUN technology has become an emerging technology for the utilities, smart cities, and IoT applications.

Smart cities around the globe are going through significant transformation along with the need for increased sustainability, efficient resource usage, and reductions in greenhouse gas emissions. Also, the smart-city applications places significant demand on the underlying network infrastructure; boosting the need for reliable connections, a high degree of security, and resilience during the event of fault. This has led to the proliferation of Wi-SUN field area network (Wi-SUN FAN) that provides cost-effective, secure, and resilient connectivity in a variety of topographical environments with minimal additional infrastructure.

In addition, there is need to ensure smart cities deploy adaptive wireless platforms that are flexible. Hence, strong movement had been witnessed within the electronics industry toward wireless standardization for smart-city applications. This has led to the formation of the Wireless Smart Ubiquitous Network (Wi-SUN) Alliance; with more than 300 member companies. Wi-SUN uses broadly adopted & proven industry standards to allow an open ecosystem of interoperable solutions and to future proof the smart-city networks. On the other hand, as compared to the traditional low-power wide-area networks (LPWAN), Wi-SUN technology provides higher data rates as well as lower latency along with low power and interoperability. In addition, it offers flexibility in data rates & energy consumption, enabling a user to more effectively address the smart-city, smart metering, street lighting, and other applications.

In addition, the Wi-SUN technology market is competitive and comprises number of regional and global vendors competing based on factors such as cost of software, reliability, and support services. The growth of the market is impacted by rapid growth in the Wi-SUN certified offerings, whereas the vendor performance is impacted by COVID-19 conditions and industry development. Owing to the competition, vendors operating in the market are offering advanced Wi-SUN technology products and services to improve the experience of their customers. For instance, in September 2019, Landis+Gyr has announced the Wi-SUN FAN 1.0 field area network certification of The Network Bridge, the intelligent routing and distribution automation device.

Author Name(s) : Vikas Gaikwad and Kanhaiya Kathoke | Onkar Sumant

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Wi-SUN Technology Market

Global Opportunity Analysis and Industry Forecast, 2021-2030