Global WI-SUN Technology Market Research Report: By Component (Hardware Products, Software Solutions, Services), Application (Smart Meters, Smart Street Lightings, Smart Building, and Industrial Application, Others), Region (North America, Europe, Asia Pacific, Middle East, and Africa, South America) - Forecast till 2025
Global WI-SUN Technology Market is expected to reach USD 6013.2 Million in 2025, from USD 1232.5 Million in 2018. In this report, Market Research Future (MRFR) includes the segmentation and market dynamics to offer a better glimpse of the market in the coming years.
The market is driven by the growing adoption of connected and smart technologies in smart cities and a surge in the need for improved customer experience across industry verticals globally. Also, since Wi-SUN technology offers several benefits, including low deployment cost and long battery life, it is implemented in a number of applications, including industrial manufacturing, logistics & transportation, energy & utilities, agriculture, and healthcare. Wi-SUN technology offers extended coverage and higher security than other LPWAN technology/standards. Currently, the Wi-SUN technology is also being deployed for commercial purposes, with pilot testing projects being run at various locations in the past two years. The Wi-SUN technology solutions have evolved significantly over the years, and the applications of this technology are expected to increase considerably in the future.
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The Key Vendors in the market are Cisco Systems, Inc. (the US), TOSHIBA Corp. (Japan), Renesas Electronics Corp. (Japan), OMRON Corporation (Japan), Itron (US), Landis+Gyr (Switzerland), Trilliant (US), Rohm Semiconductor (Japan), Analog Devices (England), Murata Manufacturing Co., Ltd (Japan), Fuji Electric Co., Ltd (Japan), and OSAKI (Japan).
The Global WI-SUN Technology Market has been segmented on Component, Application, and Region.
By component, the market has been segmented into hardware products, software solutions, and services. Hardware products that facilitate Wi-SUN technology include sensors, routers, wireless modules, HEMS controllers, and others. These hardware products are offered by several vendors operating in the market, including Cisco, Eta Compute Inc., ROHM Semiconductor. Software solutions include various software (both cloud and on-premise) that help in analyzing the data gathered via sensors. These software solutions include sensor device software, gateway software, and other software that are capable of offering actionable insights to manage and control the consumption of energy and water, and monitor temperatures. Services offered by providers in the market include training and implementation services, system integration service, and maintenance and other support services. These services are offered by various solution providers to help in the efficient facilitation of Wi-SUN technology networks across varied end-use segments including smart cities, utilities, agriculture, and healthcare. Based on the component, the hardware products segment accounted for the largest share of 46.1% in 2018 and is expected to exhibit the highest CAGR of 26.4%. The software solution segment is expected to record a CAGR of 25.1% in the forecast period.
By Application, the WI-SUN Technology Market has been divided into smart meters, smart street lightings, smart building and industrial applications, and others. With the growing need for a low-power wide-area network across these application areas, the need for comprehensive technology and standards that can offer an effective network has arisen. This has led to growth in the adoption of Wi-SUN technology. In 2019, the smart meters segment led the WI-SUN Technology Market, by application, with a 31.2% share, and is expected to register the highest CAGR of 26.9%.
By region, the global WI-SUN Technology Market has been segmented into North America, Europe, Asia-Pacific, Africa, the Middle East, and South America. The global WI-SUN Technology Market is led by North America, which occupied 39.7% of the market share in 2018. North America is followed by Asia-Pacific, which accounted for a share of 29.4% in 2018. The market in Asia-Pacific is expected to register the highest CAGR of 29.1% in the forecast period, 2019-2025. This basically means that the region has immense opportunity in terms of revenue growth.
LIST OF TABLES
TABLE 1 PRIMARY INTERVIEWS
TABLE 2 LIST OF ASSUMPTIONS
TABLE 3 GLOBAL WI-SUN TECHNOLOGY MARKET, BY COMPONENT, 2018-2025 (USD MILLION)
TABLE 4 GLOBAL WI-SUN TECHNOLOGY MARKET, BY HARDWARE PRODUCTS, 2018-2025 (USD MILLION)
TABLE 5 GLOBAL WI-SUN TECHNOLOGY MARKET, BY HARDWARE PRODUCTS, 2018-2025 (MILLION UNITS)
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LIST OF FIGURES
FIGURE 1 MARKET SYNOPSIS
FIGURE 2 GLOBAL WI-SUN TECHNOLOGY MARKET ANALYSIS, BY COMPONENT, MARKET SHARE, 2018 (%)
FIGURE 3 GLOBAL WI-SUN TECHNOLOGY MARKET ANALYSIS, BY APPLICATION, MARKET SHARE, 2018 (%)
FIGURE 4 GLOBAL WI-SUN TECHNOLOGY MARKET ANALYSIS, BY REGION, MARKET SHARE, 2018 (%)
FIGURE 5 GLOBAL WI-SUN TECHNOLOGY MARKET: STRUCTURE
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