Market Research Future (MRFR) believes that the Wi-SUN technology market 2020 can attain a valuation of USD 6013.2 Million in 2025 after being valued at USD 1232.5 million in 2018.
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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 market 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.
Top Drivers and Key Barriers
Wi-SUN alliance technology market is expanding rapidly, and is also boosting the use of interoperable wireless solutions in smart utilities, smart cities, as well as other Internet of Things (IoT) applications. The Wi-SUN technology backs IPv6 protocol to efficiently unify the information, support IP based device authentication as well as encryption communication security technology and realize two-way interaction function, effectively tackling the issue in the form of leaked node of security.
Wi-SUN technology makes use of strong advanced encryption standard (AES) as well as IETF EAP-TLS for authenticating the network. It also uses IEEE 802.11i to enhance the network security. The technology’s main characteristics include supporting IPv6 along with related network security features like traffic shaping, intrusion detection, penetration testing and network analysis, making it far more effective for countering DoS (denial of service) attacks.
In a nutshell, the rising adoption of smart and connected technologies in smart cities, surging need to optimize the use of energy, and the rising demand for better customer experience are inducing the growth of the global market for Wi-SUN technology.
The global market has been regionally categorized as Europe, Asia Pacific (APAC), the Middle East & Africa (APAC), South America and North America.
In 2018, the leading position was secured by North America, with its share in the global market estimated to be 39.7%. North America’s lead in the Wi-SUN technology market is the result of factors like the presence of a massive number of renowned device manufacturers as well as network service providers who are highly focused on testing and use of Wi-SUN technology in commercial and industrial sectors.
The same year, APAC came a close second at a market value of USD 362.51 million and seized a share of 29.4%. Further, the regional market can post a high growth rate of 29.1%, owing to the increasing penetration of IoT and the increasing vulnerability of IoT nodes to external attacks. The WI-SUN technology industry in the region is highly promising, which is apparent from the increasing deployment for commercial purposes, in conjunction with the ongoing pilot testing projects at several locations.
Top vendors attempting to get a hold of a larger share in the global market include Fuji Electric Co., Ltd (Japan), Renesas Electronics Corp. (Japan), OMRON Corporation (Japan), Trilliant (US), Cisco Systems, Inc. (US), TOSHIBA Corp. (Japan), Rohm Semiconductor (Japan), Analog Devices (England), Murata Manufacturing Co., Ltd (Japan), Landis+Gyr (Switzerland), OSAKI (Japan), Itron (US), and others.
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