Global Wi-SUN Technology Market is valued approximately USD 1772.73 million in 2021 and is anticipated to grow with a healthy growth rate of more than 21.7 % over the forecast period 2022-2028.
Wi-SUN or Wireless Smart Utility Network technology refers to a wireless communication standard that facilitates seamless connectivity between smart-grid devices. The standard manages different large-scale outdoor IoT networks such as wireless mesh networks for Advanced Metering Infrastructure (AMI), home energy management, distribution automation, and other outdoor network applications including FAN (Field Area Networks) and HAN (Home Area Networks). Wi-SUN is a secure optimized mesh network and is promoted by Wi-Sun Alliance. The rising adoption of IoT connected devices and increasing end use applications across various end use industries as well as strategic initiatives from leading market players are factors that are accelerating the global market demand. For instance, according to Statista - during 2021, the global market for Industrial Internet of Things (IIoT) was valued at USD 263 billion and the market is projected to USD 1110 billion by 2028. Furthermore, as per WI-SUN Alliance (a global industry association to support the development of Wireless Communications Networks for Utilities, Smart Cities and IoT applications)- in 2021, the alliance witnessed membership from around 300 member companies from 46 countries, witnessing an increase of over 20% from the previous year. WI-SUN alliance received new membership form Americas, APAC, South Asia, and Japan. Moreover, leading market players are coming up with new solutions to leverage the growing adoption of Wi-SUN Technology Solutions. For instance, in April 2021, Austin, Texas based Silicon Laboratories, Inc. launched certified Wi-SUN solutions. These new solutions combine EFR32 hardware platform, IPv6 mesh stack, and advanced development tools to facilitate secure wireless connectivity for a wide range of applications, including advanced metering infrastructure (AMI), street lighting networks, smart city sensors such as parking, air quality and waste management among others. Also, growing investment towards smart city initiatives as well as increasing adoption of smart metering solution in emerging markets are anticipated to act as a catalyzing factor for the market demand during the forecast period. However, security concerns associated with the Wi-SUN Technology coupled with lack of required infrastructure in developing regions impede the growth of the market over the forecast period of 2022-2028.
The key regions considered for the global Wi-SUN Technology Market study include Asia Pacific, North America, Europe, Latin America, and the Rest of the World. North America is the leading region across the world in terms of market share owing to the growing adoption of Wi-SUN technology and presence of leading market players in the region. Whereas, Asia Pacific is anticipated to exhibit a significant growth rate over the forecast period 2022-2028. Factors such as the increasing investment towards smart city projects and smart metering solutions, would create lucrative growth prospects for the global Wi-SUN Technology Market across the Asia Pacific region.
Major market players included in this report are:
Analog Devices Inc.
Cisco Systems Inc.
Landis + Gyr
Murata Manufacturing Co. Ltd.
Renesas Electronics Corporation
Texas Instruments Incorporated
Trilliant Holdings Inc.
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
Smart Street Lights
Rest of the World
Furthermore, years considered for the study are as follows:
Historical year - 2018, 2019, 2020
Base year - 2021
Forecast period: 2022 to 2028
Target Audience of the Global Wi-SUN Technology Market in Market Study:
Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Value-Added Resellers (VARs)
Third-party knowledge providers