Wi-SUN Devices Market Size Forecast to Reach $6,021.8 Million by 2026

(MENAFN- GetNews) Rising Adoption of Wireless Sensor and Actuator Network Protocol for Industrial Process automation Also Contributed for Growth of Wi-SUN Devices Market

The Global Wi-SUN devices market size is forecast to reach $6,021.8 Million by 2026, growing at a CAGR of 25.3% from 2021 to 2026. Increasing penetration of smart factories, smart cities and smart utilities with others have been driving the growth of Wi-SUN devices. Rising adoption of wireless sensor and actuator network protocol for industrial process automation had also contributed in its market growth. Increasing demand towards low power wide area network devices like transceivers supporting radio frequency identification is augmenting the market demand for Wi-SUN devices. Furthermore, growing adoption of advanced metering and intelligent grid infrastructures are set to boost the growth of Wi-SUN devices during the forecast period 2021-2026.

Wi-Sun devices Market Segment Analysis- By Area of Use

Field Area Network (FAN) certified Wi-SUN devices is analyzed to have the highest market growth with a CAGR of 20.5% during 2021-2026. Increasing deployment of Wi-SUN devices for large-scale outdoor network have been helping in bridging the gap between consumers and connected infrastructure, attributing to its market growth. Since Wi-SUN FAN certified devices are based on a mesh network, in case of lost connections, they are capable of relaying data through multiple redundant links, thus improving reliability. Owing to such benefits, adoption of FAN certified Wi-SUN devices have been gaining wide popularity for serving large scale IIOT application areas including smart utility networks, smart cities and others with a robust security control. In February 2021, Wi-SUN Alliance had revealed about the launch of next phase of its specification program with Wi-SUN FAN 1.1, in order to serve growing demand towards interoperable products owing to increased roll out of IoT applications or services across global markets, like North America and South America. Such factors are further set to boost the market growth of Wi-SUN devices for field area network (FAN) configurations in the long run.

Wi-Sun devices Market Segment Analysis- By End User

Industrial sector is analyzed to grow with the highest CAGR of around 11.6% in the global Wi-SUN devices market during the forecast period 2021-2026. Within the industrial segment, utility sector will account for the highest market growth due to rising deployment of interoperable Wi-SUN devices for serving smart utility initiatives such as advanced metering infrastructure as well as distributed automation. Deployment of Wi-SUN devices in utility companies help in accelerating energy savings along with benefits like enhancing safety as well as reducing maintenance costs, which serve as a vital factor driving its market growth. Growing demand for digital twins within renewable energy sectors in order to optimize operational performance have significantly triggered the market growth overtime. Implementing IoT initiatives and processes serve as the major drivers towards improving network intelligence and connectivity for citizen safety and quality of life across utility industries, which is set to influence the demand towards Wi-SUN devices. In December 2019, Hexing has announced to deploy 1000 node Wi-SUN mesh network to develop it's smart grid network products. Such developments are further set to drive the market growth during the forecast period 2021-2026.

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Wi-Sun devices Market Segment Analysis- Geography

APAC is anticipated to account for the fastest growing region in the Wi-SUN devices market with a CAGR of around 12.5% during the forecast period 2021-2026. Factors such as rapid urbanization, increasing shift towards digitalization, automating industrial processes through deployment of IoT solutions or connected devices overtime and others contribute as the major drivers impacting the growth of Wi-SUN devices. In addition, growing shift towards industrial IoT applications as well as rise in installation of smart meters, smart street lighting, and smart buildings will also create a positive impact on its market demand in the long run. High investments on R & D activities from some key players like Rohm Semiconductor, Renesas Electronics Corporation and others along with governmental initiatives towards smart city or digital infrastructure projects is set to fuel the growth of Wi-SUN devices in the region. In March 2020, Renesas Electronics Corporation announced about receiving certification under the Wireless Smart Ubiquitous Network for Field Area Network profile for its RL78/G1H-based sub-gigahertz wireless solution. Such developments are further analyzed to propel the market growth during 2021-2026.

Wi-SUN devices Market Drivers

Growing adoption of digitalization in utility sector

Growing adoption of digitalization within utility sectors towards delivering an intelligent digital grid management system act as a major factor boosting the market growth of Wi-SUN devices. Growing demand for deployment of Advanced Metering Infrastructure (AMI) and Distribution Automation (DA) contributes highly for the demand of Wi-SUN devices. Rising adoption of automatic identification and data capture for high value asset management among enterprises is also propelling the market growth. Additionally, increasing demand for digital twins based on advanced technologies like artificial intelligence or machine learning for optimizing wind turbine outputs will also influence the adoption of Wi-Sun technology devices in the long run. With growing demand for long distance, two-way communication among the connected devices within smart grid networks to optimize power generation, transmission as well as distribution with upgraded maintenance capability will help Wi-SUN devices to gain more traction in the utility industries. In March 2020, Renesas Electronics Corporation announced to expand Wi-SUN product portfolio for gateway applications to develop products for smart meter power usage visualization. Such developments are set to drive the market during 2021-2026.

Rising investment towards Smart Cities

Rising investments towards smart city projects to address services like transportation, communication, energy, health & safety, waste management with intelligent solutions have emerged as a major factor driving the market growth of Wi-SUN devices. Growing demand towards high speed communication through wireless mesh network for real-time intelligent traffic control, smart waste management, environment monitoring, real-time crime mapping, telemedicine within smart cities is set to contribute towards its market growth in the long run. In December 2020, Japan Government announced about its plans of investing USD 2.4 Billion in Japanese companies for the development of smart city projects in South-East Asia. Such government initiatives towards smart city projects is further analyzed to accelerate the market growth of Wi-SUN devices during the forecast period 2021-2026.

Wi-Sun devices Market Challenges

Complexity and high cost of end devices

As wireless mesh network architectures are independent of base stations, which makes transmission, reception and routing algorithms more complex, in comparison to as cellular or other star-based wireless communication. In addition, absence of centralized systems for monitoring as well as controlling purposes create less strengthened trouble shooting actions along with its complex architectures further raise the cost of end devices, thereby slowing down its adoptability while creating an adverse impact on its market growth.

Wi-Sun devices Market Landscape

Technology launches, Acquisitions, Partnerships and R & D activities are key strategies adopted by players in the Wi-Sun devices market. Wi-Sun devices top 10 companies include Cisco systems Inc., Omron Corporation, Renesas Electronics Corporation, Itron Inc., Rohm Semiconductor, Toshiba Corporation, Cimcon Lighting Inc., Landis+ Gyr, and Hexing electrical Co. Ltd, Trilliant Network Inc., Silicon Laboratories Inc. among others.

Acquisitions/Technology Launches

In April 2021, Silicon Labs announced about the launch of its first line of Wi-SUN chips, in order to help utilities as well as municipalities embrace radio technology meant for smart grids and smart city infrastructures.

In February 2021, ROHM announced about the development of a Wi-SUN FAN module, capable of connecting upto 1,000 nodes within a mesh network, meant for serving infrastructure applications.

Key Takeaways

Field Area Network (FAN) Wi-SUN devices is anticipated to grow with the highest CAGR during the forecast period 2021-2026, owing to increasing adoption across key application areas be it smart utility networks, smart cities and others.

APAC is analyzed to account as the fastest growing region in the global Wi-SUN devices market during 2021-2026, attributing to high investments on R & D activities, rise of digital infrastructure and others.

Rising investments towards smart cities along with growing adoption of digitalization in utility sector is analyzed to drive the market growth of Wi-SUN devices during the forecast period.

Relevant Reports

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B. Wireless Sensor Network Market

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