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Occupancy Sensor Market Research Report 2020, Industry Trends, Share, Size, Demand and Future Scope
by Zayn Mathew Market Research ReportsAccording to the latest report by IMARC Group, titled "Occupancy Sensor Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027," the global occupancy sensor market size reached US$ 2.35 Billion by 2019. Occupancy sensors are motion-activated control devices that can detect the presence of individuals in a particular environment. These devices detect the occupancy of the room by the use of motion-detecting sensors. They automatically alter the lights, temperature and ventilation of the area by turning equipment on or off as per the number of the occupants. Their application aids in achieving automatic control over fans, lights and air conditioners installed in residential as well as commercial spaces while complying with the building codes. They are also employed to enable precise control over lighting solutions in a building and prevent unnecessary usage of energy.
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Global Occupancy Sensor Market Trends:
The global market is primarily driven by the emerging trend of smart cities across the globe. This can be attributed to rapid urbanization, inflating disposable income levels and population growth. In line with this, the development of smart cities has led to the increasing adoption of connected data sensors and advanced technologies to ensure quality environmental development. The installation of occupancy sensors in various establishments aids in reducing energy consumption and reducing light pollution, owing to which there has been a significant increase in their uptake. The rising demand for smart parking assistance across numerous parking lots and the increasing number of government initiatives encouraging the adoption of smart construction are also acting as major growth-inducing factors. Apart from this, there has been a significant increase in the demand for energy-efficient devices across the residential, commercial and industrial segments.
Enhanced focus toward sustainable development, the requirement for automation across numerous sectors, the need for efficient triggering sensors and accurate movement detection, and escalating prices of electricity on the global level are providing a thrust to the market growth. Moreover, extensive research and development (R&D) activities, along with the continual launch of improved and innovative product variants, such as image processing occupancy sensors (IPOS) and micro-phonics, are driving the market further. Other factors, including several building codes and standards that require switching off lights and other appliances in public spaces within a timeout setting, and the implementation of sustainable programs in various countries, is creating a positive outlook for the market. On account of the aforementioned factors, the market is anticipated to reach a value of US$ 5.57 Billion by 2025, expanding at a CAGR of 15.8% during 2020-2025.
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Key Insights from the Report:
- On the basis of the network type, the market has been bifurcated into wired and wireless sensors.
- Based on technology, the market has been divided into passive infrared, ultrasonic, dual technology and others.
- Based on the building type, the market has been classified into the residential and commercial segments.
- On the basis of the coverage area, the market has been segmented into less than 89 degrees, 90 degrees-179 degrees and 180 degrees-360 degrees.
- Based on the application, the market has been categorized into lighting control, HVAC, and security surveillance.
- On the geographical front, the market has been segregated into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.
- The competitive landscape of the market has also been analyzed in the report with the detailed profiles of the key players operating in the market. Some of these players include Honeywell International Inc., Eaton Corporation plc, Schneider Electric, Legrand SA, Acuity Brands, Inc., Leviton Manufacturing Co., Inc., Pammvi Group, General Electric Company, Koninklijke Philips N.V., Hubbell Incorporated, Texas Instruments Incorporated, Johnson Controls, Inc., and Lutron Electronics Co., Inc.
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About Zayn Mathew 
Market Research Reports
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Created on Jun 2nd 2020 07:12. Viewed 316 times.
