The report "Occupancy Sensor Market with COVID-19 Impact Analysis by Technology (PIR, Ultrasonic, Dual), Network Connectivity (Wired & Wireless), Coverage Area, Application, Building Type (Residential, Commercial) and Geography - Global Forecast to 2025" This market is expected to reach from USD 1.9 billion in 2020 to USD 3.6 billion by 2025, at a CAGR of 13.3%. The growth of the occupancy sensor market is driven by factors such as the increasing need for energy-efficient lighting controls and the growing popularity of smart homes.
Browse 145 market data Tables and 65 Figures spread through 204 Pages and in-depth TOC on "Occupancy Sensor Market with COVID-19 Impact Analysis by Technology (PIR, Ultrasonic, Dual), Network Connectivity (Wired & Wireless), Coverage Area, Application, Building Type (Residential, Commercial) and Geography - Global Forecast to 2025"
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Indoor operation to hold largest size of occupancy sensor market in 2025
Based on operation, the occupancy sensor market is expected to be dominated by indoor operations during the forecast period. Occupancy sensors are used relatively more in indoor operations than outdoor operations. These sensors are installed in the interiors of buildings, such as universities, offices, hotels, healthcare, industrial, apartments, and education, to utilize energy as per the need. The concept of smart buildings and smart cities will have a major positive impact on the occupancy sensor market as these are focused on conserving energy. In 2019, the Mayor of the city Newark, New Jersey, US, announced that they have partnered with Honeywell to improve energy efficiency in the city. According to the Mayor of the city, upgrades will be done in 17 facilities and funding will be done from the New Jersey’s clean energy programme. The plan also includes modernizing the City Hall’s central boiler plant with high-efficiency LED lighting, and heat loss reduction. Honeywell is also planning to install energy-efficient control solutions such as room occupancy sensors that incorporate the city’s HVAC, and multi-location controls of building systems. Furthermore, electricity cost reduction with the help of occupancy sensors is the other major reason that will lead to the adoption of energy-saving devices; moreover, reducing costs related to maintenance of lighting and HVAC devices is also a key factor for the increasing adoption of energy-efficient devices in the market. The installation of energy-saving devices, such as occupancy sensors, will reduce the wastage of electricity, thereby lowering maintenance costs.
APAC to account for the highest CAGR for Occupancy Sensor Market during the forecast period
The market for occupancy sensor in the APAC region is accounted to grow at the highest CAGR during the forecast period. APAC is growing in terms of lighting and electronic applications, and there is also increasing awareness in the market regarding occupancy sensors. Many small manufacturers are developing occupancy sensors at a very low cost in this region—especially Japan and China. China is expected to grow at the highest CAGR in the APAC region during the forecast period due to the increased requirement for high energy-saving modules (such as occupancy sensors) to reduce the high energy consumption by its populace. Japan and Australia are estimated to witness low growth rates respectively, during the forecast period in APAC. Major reasons cited for this are high installation cost of lighting control systems, low acceptance rate, and weak distribution channels.
The report profiles the most promising players in the Occupancy Sensor Market . The markets competitive landscape presents an interesting picture of strategies adopted by many players. The major players are Legrand (France), Schneider Electric (France), Eaton (Ireland), Johnson Controls (Ireland), Signify (Netherlands), Acuity Brands (US), Leviton Manufacturing (US), Lutron Electronics (US), Honeywell (US), Hubbell (US), Texas Instruments (US), American Industrial Partners (US), OSRAM LICHT AG (Germany), SIEMENS (Germany), Alan Manufacturing, Inc. (US), Enerlites (US), Functional Devices (US), Pyrotech- Tempsens Group (India), Brück Electronic GMBH (B.E.G) (Germany), Hager Group (Germany), and Crestron electronics (US), are few dominant players in the Occupancy Sensor Market.
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