The [FURL=https://www.industryarc.com/Report/19427/wi-sun-devices-market.html?utm_source=briefingwire&utm_medium=pressrelease&utm_campaign=paidpressrelease]Global Wi-SUN devices market[/FURL] 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.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.
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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.
Wi-SUN devices Market Drivers
Growing adoption of digitalization in utility sector
Rising investment towards Smart Cities
Wi-Sun devices Market Landscape
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.
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