PUBLISHER: MarketsandMarkets | PRODUCT CODE: 1583647
PUBLISHER: MarketsandMarkets | PRODUCT CODE: 1583647
The global occupancy sensor market is expected to reach USD 5.20 billion in 2030 from USD 2.75 billion in 2024, at a CAGR of 11.2% during the forecast period. There is a growing demand for occupancy sensors as IoT technologies are being increasingly integrated along with a governmental emphasis on sustainable lighting solutions. Since urbanization is on the rise, there is a need to optimize energy use, safety, and comfort
Scope of the Report | |
---|---|
Years Considered for the Study | 2020-2030 |
Base Year | 2023 |
Forecast Period | 2024-2030 |
Units Considered | Value (USD Billion) |
Segments | By Type, Operation, Connectivity, Technology, Installation and Region |
Regions covered | North America, Europe, APAC, RoW |
through lighting control systems over the next few years. For instance, smart street lighting is able to reduce the intake of energy by up to 40% while producing enough illumination along with helping solve environmental and public safety issues simultaneously.
"Wireless segment is expected to dominate during the forecast period."
Wireless sensors are expected to dominate the occupancy sensor market. The wireless occupancy sensors eliminate extended wiring. Hence, the installation is faster and less interfering, especially during retrofitting, as the existing infrastructure restricts alterations. The wireless feature also offers flexibility of location; thus, it is easily adapted to changing patterns in layout and usage in both commercial and residential surroundings. Moreover, the advancements in technologies such as Zigbee, Z-Wave, Bluetooth, and many others, make these sensors more reliable and efficient. Additionally, the general trend toward smarter homes and wider implementations of the Internet of Things supports the demand for wireless solutions..
"Dual technology segment is expected to grow at highest CAGR in ooccupancy sensor market."
Dual technology occupancy sensors are expected to have the highest growth rate in the market for occupancy sensors. This is due to their better accuracy and reliability, as there are two different sensing technologies in the sensors, such as passive infrared (PIR) and ultrasonic sensors, which can identify occupancy in a wide range of environments and under diverse conditions. This dual technology minimizes false triggers and enhances the detection capabilities. They are suitable to complex spaces like open offices, conference rooms, or industrial settings where movement patterns sometimes present unpredictable configurations.
"The Asia pacific is expected to have highest growth rate in the occupancy sensor market."
The Asia Pacific region is expected to witness the highest growth rate in occupancy sensors market because of rapid urbanization, increased energy consumption, and a growing focus on smart building technologies. In countries such as China, India, and many others that are rapidly undergoing infrastructure development, energy-efficient solutions are in high demand in residential, commercial, as well as industrial sectors. Additionally, Government initiatives are working towards the sustainability and smart city projects which are in turn fast tracking occupancy sensors Asia Pacific region.
Legrand (France), Johnson Controls Inc (US), Eaton (Ireland), Honeywell International Inc (US), Schneider Electric (France), Acuity Brands Inc (US), Signify Holding (Netherland), Hubbell (US), Leviton Manufacturing Co., Ltd., (US), and Lutron Electroncis Co Ltd (US), are some of the key players in the occupancy sensor market.
The study includes an in-depth competitive analysis of these key players in the occupancy sensor market, with their company profiles, recent developments, and key market strategies.
Research Coverage
This research report categorizes the occupancy sensor market by type (Wall Mount, Ceiling Mount, Desk), and Others), by operation (Indoor, Outdoor), by installation type (New , Retrofit), by coverage area (Less Than 90°, 90-179°, and 180-360°), by network connectivity (Wired, Wireless) by technology (PIR, Ultrasonic, Dual Technology, Others) by application (Lighting Systems, HVAC Systems, Security and Surveillance Systems, Others), by end user (Residential Building, Commercial Building), and by region (North America, Europe, Asia Pacific, and RoW). The report's scope covers detailed information regarding the major factors, such as drivers, restraints, challenges, and opportunities, influencing the growth of the occupancy sensor market. A detailed analysis of the key industry players has been done to provide insights into their business overview, solutions, and services; key strategies; Contracts, partnerships, agreements, new product & service launches, mergers and acquisitions; and recent developments associated with the occupancy sensor market. This report covers the competitive analysis of upcoming startups in the occupancy sensor market ecosystem.
Reasons to buy this report
The report will help market leaders and new entrants with information on the closest approximations of the revenue numbers for the overall occupancy sensor market and its subsegments. It will also help stakeholders understand the competitive landscape and gain more insights to better position their businesses and plan suitable go-to-market strategies. The report also helps stakeholders understand the market pulse and provides information on key market drivers, restraints, challenges, and opportunities.