New York, USA, June 16, 2021 (GLOBE NEWSWIRE) – Market size:
The globe Wi-SUN technology market size will have an amazing CAGR of 25.5% over the forecast period (2020-2027) according to the latest report from Market Research Future (MRFR). Its valuation may reach USD 6,013.2 million by the end of the forecast period. Wireless Smart Utility Network (Wi-SUN) is a wireless communication standard designed to promote connectivity and data transfer between smart grid devices. The introduction of the Internet of Things (IoT) in industries and the scaling up of networking efforts may bode well for the market.
Wi-SUN technology is likely to prove to be a viable solution as consortia are formed with the help of various leading technology providers. The development of smart cities and smart infrastructure to eliminate communication costs with previous standards such as LPWA can bode well for the market. The development of FAN modules compatible with the latest technology can connect up to 1,000 devices. Compliance and certifications with the Federal Communications Commission, as well as the need for the technology due to the proliferation of IoT in large industries and cities, can fuel market growth. Vertexcom Technologies recently received certification for its sub-GHz wireless solution. A communication infrastructure to support various devices and reduce interoperability due to different communication standards can drive market growth.
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The market of the Wi-SUN technology industry is very competitive and characterized by alliances. The establishment of protocols and new standards to accelerate wireless technologies for field area networks and IoT can expand collaboration between companies. Enterprise interoperability and scalability efforts will likely be the primary focus of enterprises.
Major Dominant Players in the Covered Wi-SUN Technology Market are:
- Renesas Electronics Corp.
- TOSHIBA Corp.
- Fuji Electric Co. Ltd
- Analog devices
- OMRON Corporation
- Cisco Systems Inc.
- Landis + Gyr
- Rohm Semiconductor
- Murata Manufacturing Co. Ltd.
Search the detailed market research report (135 pages) on Wi-SUN technology:
Market USP only included:
The market demand for Wi-SUN technology will increase with the proliferation of smart meters, smart thermostats, and other smart home appliances. Dispensing with proprietary systems with a preference for open source standards can enable service providers to provide multi-service networks. The adoption of intelligent technologies, the need for improved customer experiences across all industries, awareness of the benefits of the technology, and the advantages over LPWAN standards can drive market growth. The focus on energy savings and the need to set standards to lower installation prices can bode well for the market. Technological breakthroughs such as sensors, routers, wireless modules, and gateway software can offer a wealth of growth opportunities for the Wi-SUN technology market.
Concerns about the security of the technology and a lack of network connectivity can present the market with major challenges.
Segmentation of the Market Covered in Research:
By component, the global market for Wi-SUN technology has been divided into hardware products, software solutions, and services. Hardware products include HEMS controllers, routers, sensors, and others. The service, on the other hand, includes maintenance and other support services, system integration services as well as training and implementation services. In terms of components, the hardware segment is expected to show a CAGR of 26.4% in the forecast period.
Main applications of the Wi-SUN technology market are smart meters, smart street lighting, smart building and industrial applications, and others. Smart meters are further divided into distribution management systems, automatic meter reading (AMR) and advanced metering infrastructure (AMI). It is estimated that smart meters will dominate the world market due to interoperable standards and that other industrial sectors will benefit from smart meter technology.
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The Wi-SUN technology market includes regions in North America, Europe, Asia Pacific (APAC), and the rest of the world (RoW).
North America is expected to be lucrative to the market due to the presence of various IoT solution providers and leading manufacturers of network devices. The deployment and testing of Wi-SUN systems for commercial and industrial applications combined with adoption by various industries can be good prospects for the market. Cisco has increased its Meshpoint capacity to support FAN software. It has certified FAN products and is working with other partners in the Wi-SUN alliance to expand the product offering.
APAC is projected to have 29.1% CAGR over the evaluation period due to smart city projects and the introduction of Wi-SUN devices in various industrial sectors. Industrial IoT applications with increasing installation of smart meters, smart street lighting and smart buildings can increase the demand for Wi-SUN technology. Efforts by the governments of India and China to switch to energy saving technologies and an increase in renewable energy projects may bode well for the market. Cooperation between actors can drive innovations in the Wi-SUN technology industry market. This is illustrated by Renesas Electronics’ certification from the Wi-SUN Alliance for its sub-gigahertz wireless solution. With the FAN mesh networks, customers can develop solutions for sensor management, intelligent lighting and visualization of power consumption.
Effects of COVID-19:
The COVID-19 pandemic has little impact on the global Wi-SUN technology market due to the lack of hardware modules. But the modernization of existing systems in connection with the application in Smart Cities, Smart Buildings and Smart Utilities can expand the market scope. Organizations’ focus on maintaining employee productivity and the stability of connectivity can bode well for the marketplace. Establishing standards and protocols to ensure connectivity through mesh endpoints, remote firmware updates and self-healing communication can support global market growth.
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