Market Leadership - Occupancy Sensor Market
The occupancy sensor market is projected to reach USD 3.6 billion by 2025 from USD 1.9 billion in 2020; it is expected to grow at a CAGR of 13.3% from 2020 to 2025. Rising demand for energy-efficient devices and government policies towards energy saving are key factors driving the growth of the occupancy sensors market. Key players in this market are focusing on enhancing their product portfolios and increasing their market share through the strategies of product launches and developments, partnerships, collaborations, acquisitions, and expansions. Several market players have adopted product launches and developments as critical business strategies to enhance their position in the occupancy sensor market over the past few years.
Top 2 Players in Occupancy Sensor Market:
Legrand (France) was founded in 1904 and is a manufacturer of low-voltage electrical installations and data network products and systems utilized in residential, commercial, hospitality, and industrial buildings. The company provides solutions ranging from protection, lighting control, and connection, home and building automation, communications to industrial products. The company had 38,377 employees in December 2018. The total amount of R&D spent by the company in 2018 was approximately 5% of its total revenue. The company operates via three sectors—tertiary, residential, and industrial. Their products are divided into the following categories: Energy Distributions, Door Phones, Cable Management, Home Automation, Wiring Accessories, Passive Networking, and Light Management Systems. The company offers occupancy sensors under the brand name Wattstopper, which falls under its Light Management Solutions category.
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Schneider Electric (France) was established in 1836 and is primarily engaged in the design, manufacture, and sale of integrated products, systems, services, software, and solutions for electric distribution, and automation & control. The company has operations in more than 100 countries across all major geographies—Europe, North America, and APAC. The company mainly operates through four business segments, namely buildings & partner, infrastructure, industry, and IT. The industry segment of the company is operating under the occupancy sensor market, where dual-tech occupancy sensors combining both PIR and ultrasonic technology are offered to its customers. In 2018, the company had a workforce of approximately 137,000 employees. The total amount of investment spent on R&D by the company in 2018 was around 5% of its total revenue. A few major subsidiaries of the company are Schneider (US), Scimedmedizentechnik GmbH (Germany), Schneider Belgium N.V. (Belgium), and Schneider Electric (India). Tektronix offers solutions for analog/digital designing and debugging, spectrum management and interference hunting, and radar and electronic warfare applications. It offers three series of occupancy sensors, including ZENcelo series, Argus series, and NEO series.
Related Reports:
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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