The market for occupancy sensors is anticipated to reach US$6,558.9 million by 2032, growing at a CAGR of 12%. In 2022, the market is anticipated to be worth US$ 2,115.6 Million. The market for occupancy sensors is expanding as a result of rising demand for these devices, which are mostly utilised for security purposes to thwart thefts, burglaries, and break-ins.
Moreover, green construction is increasing globally, which can promote market expansion for occupancy sensors. The market showed a 9.8% growth rate from 2016 to 2021. When a room is empty or inhabited, an occupancy sensor, also called a vacancy sensor, is used to determine how loud or soft the equipment should be.
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Global Occupancy Sensor Market: Drivers and Restraint
Increasing demand for energy-efficient devices is one of the major factors responsible for the growth of global occupancy sensor market across the globe.
Other factors such asfavourable government regulations and policies with regard to energy saving, continuous development and advancement of advanced and cost-effective sensors are expected to fuel growth of the global occupancy sensor market over the forecast period.
In contrast, false triggering of switch and inconsistency issues associated with wireless network system are anticipated to impede the market growth during the forecast period. However, introduction of advanced occupancy sensors such as intelligent occupancy sensor, image processing occupancy sensor and micro-phonics in is boosting growth of global occupancy market.
Competition Analysis
Major players in the market are developing a wide range of advanced and innovative sensors to gain a long-term competitive advantage, such as image processing sensors, microphonic sensors, and intelligent occupancy sensors.
Key players in the global occupancy sensor market include
- Eaton Corporation Plc.,
- Honeywell International Inc.,
- Schneider Electric SA,
- Johnson Controls Inc.,
- Acuity Brands Inc.,
- Texas Instruments Inc.,
- Leviton Manufacturing Co., Inc.,
- Lutron Electronics Co., Inc.,
- Legrand SA, and
- Hubbell Incorporated,
- Known Quantity Sensors,
- Antalis, Enlighted,
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Global Occupancy Sensor Market: Regional Outlook
On the basis of region, the global occupancy sensor market can be segmented into seven major regions such as North America, Latin America, Western Europe, Asia-Pacific (excluding Japan), Eastern Europe, Japan and Middle East & Africa (MEA).
Of these regions, the North America occupancy sensor market is expected dominate the global occupancy sensor market over the forecast period.
However, Asia-Pacific (excluding Japan) is anticipated to witness the highest CAGR during the forecast period. This is mainly attributed to growth in construction and real estate sectors in developing countries such as India and China in the region.
Key Segments Profiled in the Global Occupancy Sensor Market
Occupancy Sensor Market by Network Connectivity:
- Wired Network Occupancy Sensor
- Wireless Network Occupancy Sensor
- Wi-Fi
- Zigbee
- Z-Wave
- Others
Occupancy Sensor Market by Application:
- Occupancy Sensors for Government Establishments
- Occupancy Sensors for Industrial Applications
- Occupancy Sensor for Commercial Applications
- Occupancy Sensor for Residential Sectors
Occupancy Sensor Market by Region:
- North America Occupancy Sensor Market
- Latin America Occupancy Sensor Market
- Europe Occupancy Sensor Market
- South Asia Occupancy Sensor Market
- East Asia Occupancy Sensor Market
- Oceania Occupancy Sensor Market
- Middle East & Africa Occupancy Sensor Market
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