WI-SUN Technology Market Challenges, Size, Growth, Key Vendors, Drivers and Trends

WI-SUN Technology Market – Geographical Analysis

North America dominates the global WI-SUN technology market. The largest market share attributes to technological advancement and increased adoption of WI-SUN technology across various industry verticals. Besides, the strong presence of several notable industry players focused on testing & commercial deployment of Wi-SUN based systems for industrial and commercial purposes drive the regional market growth. 

Moreover, the augmented demand and wide availability of WI-SUN technology in the region defines the growing landscape of the market. The North American WI-SUN technology market is poised to continue with its dominance throughout the assessment period. 

The Asia Pacific region stands second in the global WI-SUN technology market. In 2018, this market had valued at USD 362.51 MN. The market growth is driven by the wide adoption of WI-SUN devices across the end-user sectors.  India, China, and Japan are rapidly growing markets in the region due to their increasing smart city projects and upgrades in utilities. In India, WI-SUN technology applications increase in smart meters, smart street lightings, smart building, and industrial areas. The APAC WI-SUN technology market is projected to grow at 29.1% CAGR throughout the forecast period. 

Europe WI-SUN technology market is witnessing a rapid expansion stage.  Factors such as the increasing adoption of WI-SUN technology across the end-use industries and increasing smart city projects in the region foster market growth. Besides, growing numbers of utility infrastructures across the region boost the growth of the market. Also, the spurting growth in the agriculture and healthcare sectors encourage market growth in the region. The European WI-SUN technology market is expected to witness a fabulous market growth during the review period.  

Market Research Future (MRFR), in its WI-SUN technology market analysis, asserts that the market is expected to create a value of USD 6013.2 MN by 2025, registering an impressive CAGR throughout the review period (2019 – 2025). MRFR, in its recently published study report on COVID 19 impact on the global of WI-SUN technology market, states that the market had reached USD 1232.5 MN in 2018. 

Growing need for a low-power wide-area network (LPWAN) across application areas such as smart meters, smart street lightings, and smart building boosts the market growth. Additionally, the rising needs for comprehensive technology and standards that can offer an effective network drive the adoption of Wi-SUN technology. Technological upgrades in hardware products, including sensors, routers, wireless modules, and HEMS controllers and software solutions such as sensor device software and gateway software, influence the size of the WI-SUN technology industry.  

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Proliferation of smart & connected devices like smart meters, thermostats, and other smart home appliances provides impetus to the growth of the WI-SUN technology market. Furthermore, technological advances in smart devices and the growing penetration of the Internet of Things (IoT) foster market growth. Conversely, growing security concerns, and lack of network connectivity are major factors hampering the growth of the market. Nevertheless, substantial R&D investments to improve connectivity solutions would support market growth throughout the review period. 

Market Segmentation 

The WI-SUN technology market analysis includes primary segments like component and application.

The component-dependent segments are software solutions, services and hardware products. Hardware products that use Wi-SUN technology are routers, sensors, HEMS controllers, wireless modules, and others. These products are offered by numerous players including Eta Compute Inc., Cisco, ROHM Semiconductors and others. The various software solutions are cloud and on-premise, wherein both help analyze the data collected via sensors. The software solutions available in the market are gateway software, sensor device software, and others that have the ability to offer valuable insights to not only manage but also control the consumption of water, energy as well as monitor temperatures. The main services offered by companies are system integration service, and maintenance, training and implementation services, along with other support services. These services help facilitate the Wi-SUN technology networks in various end-use sections like utilities, smart cities, healthcare and agriculture. Out of all the component-wise segments, hardware led the market with the largest share of 46.1% in the year 2018 and can possible develop at the fastest rate of 26.4% in the coming years. Coming in second is the software solution segment, which can achieve a CAGR of 25.1% during the evaluation timeframe.

Applications of the WI-SUN technology are smart street lightings, smart meters, industrial applications, smart building, and others. Given the rising need for low-power wide-area network in these end-use areas, the requirement for comprehensive technology as well as standards that offer an efficient network has mounted significantly, leading to higher adoption of the technology. Out of all the segments, smart meters led the Wi-SUN technology market in 2019, seizing a share of 31.2% can even record the highest growth rate of 26.9% in the ensuing period.

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