Wireless Smart Utility Network (Wi-SUN) technology report contains detailed information on factors influencing demand, growth, opportunities, challenges, and restraints. It provides detailed information about the structure and prospects for global and regional industries. In addition, the report includes data on research & development, new product launches, product responses from the global and local markets by leading players. The structured analysis offers a graphical representation and a diagrammatic breakdown of the Wireless Smart Utility Network (Wi-SUN) technology by region.
The global Wi-SUN technology market value was $1,456.54 million in 2020. The global Wi-SUN technology market is forecast to grow at a compound annual growth rate (CAGR) of 21.4% during the forecast period from 2021-2027.
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The Wireless Smart Utility Network (Wi-SUN) technology enables seamless connectivity among smart-grid devices using a wireless communication standard. IoT networks of this kind enable applications such as Advanced Metering Infrastructure (AMI) for home energy monitoring, the automation of distribution systems, and other large-scale outdoor networks, including FAN (Field Area Network) and HAN (Home Area Network).
One of the advantages of this technology is that it uses extremely little power compared to other wireless communication options, like WLANs.
Also, Wi-SUN provides certification for the Enhanced Home Area Network (HAN) communications profile, which supports communication between Home Energy Management Systems and any HAN device and is interoperable and scalable.
Factors Affecting the Market
A number of factors are driving the market for Wi-SUN, including the increase in smart and connected devices and the development of smart cities and smart infrastructure. The market’s growth has also had its roots in demand for improved customer experiences across multiple industry verticals.
Government initiatives and growing awareness of the benefits of Wi-SUN technology are fueling the demand for products and services that incorporate the technology.
An influx of cyber security issues and a lack of funding and investment for smart city projects could stymie market growth.
The availability of technological advancements in hardware products is forecast to boost the market’s growth over the forecast period.
A release on June 8th, 2021, by the Bureau and Economic Analysis and U.S. Census Bureau reports the recovering of the U.S. market. The report also described the recovery of U.S. International Trade in July 2021.In April 2021, exports in the country reached $300 billion, an increase of $13.4 billion. In April 2021, imports amounted to $294.5 billion, increasing by $17.4 billion. COVID19 is still a significant issue for economies around the globe, as evidenced by the year-over-year decline in exports in the U.S. between April 2020 and April 2021 and the increase in imports over that same period of time. The market is clearly trying to recover. Despite this, it means there will be a direct impact on the Healthcare/ICT/Chemical industries, resulting in a large market for Wireless Smart Utility Network (Wi-SUN) technology Market.
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Covid-19 Impact on the Market
Pre-COVID-19 estimates of the forecast period are higher than the current estimates. The Covid-19 outbreak had a limited impact on the market growth of Wi-SUN technology, as the acceptance of Wi-SUN technology solutions increased when unexpected conditions arose. As lifestyles change and economic disruptions affect businesses, smart cities are gaining traction; therefore, the Covid-19 pandemic has increased Wi-SUN technology demand. According to BT Wholesale and Ventures (BT Group), connect city initiatives will cost $135 billion globally by 2021. In addition, the government’s initiatives towards the implementation of smart grids, renewables, and meter technologies will increase demand for Wi-SUN technology. Hawaii officials are studying solar energy, wind energy, and grid-scale storage methods to reach zero emissions by 2045.
Regional Perspective of the Market
North America dominates the Wi-SUN technology market due to its increasing prevalence in the region. The growth of the Wi-SUN market in North America is also due to a variety of factors including, the growth of organizations, the presence of multiple leading device manufacturers, network service providers, and an increase in the area of application of Wi-SUN. A growing urbanization rate in Asia-Pacific coupled with new technology developments in the industry of device manufacturers and network service providers will drive the market’s growth during the forecast period.
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According to Statista, as of 2021 data, the United States held over ~36% of the global market share for information and communication technology (ICT). With a market share of 16%, the EU ranked second, followed by 12%, China ranked third. In addition, according to forecasts, the ICT market will reach more than US$ 6 trillion in 2021 and almost US$ 7 trillion by 2023. In today’s society, continuous growth is another reminder of how ubiquitous and crucial technology has become. Over the next few years, traditional tech spending will be driven mainly by big data and analytics, mobile, social, and cloud computing.
This report analyzes the global primary production, consumption, and fastest-growing countries in the Information and Communications Technology(ICT) market. Also included in the report are prominent and prominent players in the global Information and Communications Technology Market (ICT).
The several leading prominent players profiled in the global Wi-SUN technology market are:
Texas Instruments Incorporated
Cisco Systems Inc.
Analog Devices, Inc.
Renesas Electronics Corporation
Trilliant Holdings Inc
Landis + Gyr
Murata Manufacturing Co. Ltd.
Other Prominent Players
Aim of the Report
The global Wi-SUN technology market segmentation focuses on Application, Component, and Region.
Segmentation based on Application
Smart Street Lights
Segmentation based on Component
Training and implementation
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Segmentation based on Region
Rest of Western Europe
Rest of Eastern Europe
Australia & New Zealand
Rest of Asia Pacific
Middle East & Africa (MEA)
Rest of MEA
Rest of South America
What is the goal of the report?
• The market report presents the estimated size of the ICT market at the end of the forecast period. The report also examines historical and current market sizes.
• During the forecast period, the report analyzes the growth rate, market size, and market valuation.
• The report presents current trends in the industry and the future potential of the North America, Asia Pacific, Europe, Latin America, and the Middle East and Africa markets.
• The report offers a comprehensive view of the market based on geographic scope, market segmentation, and key player financial performance
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