Global Occupancy Sensor Market is valued approximately at USD 2.10 billion in 2018 and is anticipated to grow with a healthy growth rate of more than 18.31% over the forecast period 2019-2026. An occupancy sensor is an interior motion detecting device which is used to detect the existence of an individual or a person to automatically control lights or airing or temperature systems. This sensor uses ultrasonic, infrared, microwave and several other technologies. An occupancy sensor is usually used for providing automatic control, saving energy, complying with building codes and many more. Increasing demand for energy efficient devices, favorable government policies regarding energy saving and growing popularity of wireless occupancy sensors and increasing adoption in smart homes are the few factors responsible for high CAGR of the market over the forecast period.
For instance: according to European Union, 68 million homes in Europe and North America is expected to be smart by the end of 2019. Similarly, as per the source, between 2014 and 2019, the number of households adopted smart home systems is expected to result in about 38.2 million smart homes by 2019. Moreover, rising green building by the government and developments in vision-based intelligent occupancy sensor for HVAC system are the major factor likely to create lucrative growth opportunity to the market in the upcoming years. However, inconsistency issues related to wireless network systems along with false triggering of a switch by sensors are few factors anticipated to restrain the growth of global Occupancy Sensor market during the forecast period.
The regional analysis of global Occupancy Sensor Market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America and Rest of the World. North America is the leading/significant region across the world in terms of market share owing to the high emphasis on innovations and advancements in occupancy sensors, such as intelligent occupancy sensor (IOS), image processing occupancy sensor (IPOS) and micro-phonics along with presence of favorable government plans and programs in the region. However, Asia-Pacific is anticipated to exhibit highest growth rate / CAGR over the forecast period 2019-2026. Factors such as supportive government plans and programs associated with energy saving as well as growth of wireless network infrastructure that would offer lucrative growth opportunities for the occupancy sensor market across Asia-Pacific region.
Major market player included in this report are:
- Legrand
- Schneider Electric
- Eaton
- Johnson Controls
- Acuity Brands
- Leviton Manufacturing
- Lutron Electronics
- Honeywell
- Hubbell Incorporated
- Siemens
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
By Network Type:
- Wired
- Wireless
By Technology:
- Ultrasonic
- Passive Infrared
- Microwave
By Building Type:
- Residential
- Commercial
By Application:
- Lighting Control
- HVAC
- Security & Surveillance
By Region:
- North America
- U.S.
- Canada
- Europe
- UK
- Germany
- Asia Pacific
- China
- India
- Japan
- Latin America
- Brazil
- Mexico
- Rest of the World
Furthermore, years considered for the study are as follows:
- Historical year – 2016, 2017
- Base year – 2018
- Forecast period – 2019 to 2026
- Key Consulting Companies & Advisors
- Large, medium-sized, and small enterprises
- Venture capitalists
- Value-Added Resellers (VARs)
- Third-party knowledge providers
- Investment bankers
- Investors