Occupancy Sensor Market
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The occupancy sensor market is projected to grow at a CAGR 12.48% rate during the forecast period. The key factors contributing to the growth of the market include increasing demand for energy-efficient devices and favorable government policies regarding energy saving as well as the development of accurate and efficient sensors that can be configured and programmed for HVAC systems. Furthermore, the growing trend of green buildings across the world is among the significant factors that are likely to create growth opportunities for the market.
The market for residential buildings is expected to grow at the highest CAGR during the forecast period. Several house owners prefer their residences installed with the latest technologies, which also helps them manage energy usage and minimize the cost. Moreover, growing awareness of home automation and smart homes among occupants is expected to drive the occupancy sensors market for residential buildings.
Wireless network connectivity is expected to gain growing demand during the forecast period due to reduced installation cost (cost related to wires and batteries) and better connectivity as compared with the wired network. Wireless occupancy sensors are lightweight and can be installed using velcro, magnetic tapes, or screws. Easy compatibility with other wireless controls, devices, and networks is also one of the major factors that will drive the demand for wireless occupancy sensors.
Rest of the World (RoW) covers the market trends for South America, the Middle East, and Africa. The market in RoW is projected to grow at the highest CAGR from 2019 to 2024. Key factors driving the occupancy sensors market in RoW are government policies that encourage the conservation of energy and growth of the construction and real estate sectors. Ongoing construction activities in South America and the Middle East are expected to drive the occupancy sensors market in these regions significantly.
Key Market Players includes Legrand (France), Eaton (Ireland), Schneider Electric (France), Signify (Netherlands), Johnson Controls (US), Actuity Brands (US), Lutron Electronics (US), Leviton Manufacturing (US), Hubbell Incorporated (US), Honeywell (US), Texas Instruments (US), SIEMENS (Germany), OSRAM LICHIT AG (Germany), Enerlites (US), Alan Manufacturing (US), Crestron Electronics (US), Functional Devices (US), Pyrotech- Tempsens Group (India), Hager Group (Germany), and Brück Electronic (Germany)
Key Questions Addressed by the Report
- Which are the major technologies in the market?
- Which recent industry trends are expected to generate additional revenue streams?
- Which are the major players operating in the occupancy sensors market? Which of these companies are front runners?
- With the rise in demand for occupancy sensors from various building types, what are the opportunities for players now and for those planning to enter various stages of the occupancy sensors value chain?
- How is the increasing adoption of occupancy sensors for lighting application expected to impact the growth rate of the overall market?
2. Research Methodology
Limitation and Assumptions
3. Executive Overview
4. Market Overview
5. Occupancy Sensor Market, By Application
Security and Surveillance Systems
6. Occupancy Sensor Market, By Coverage Area
7. Occupancy Sensor Market, By Technology
8. Occupancy Sensor Market, By Network Connectivity
9. Occupancy Sensor Market, By Operation
10. Occupancy Sensor Market, By Building Type
11. Occupancy Sensor Market, By Region
Rest of Europe
Rest of APAC
Rest of Middle East
Rest of the World
12. Company Profiles
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