Occupancy Sensors Market

Occupancy Sensors Market

The emergence of efficient as well as accurate sensors that can be customized and configured for HVAC systems, as well as increased demand for energy-efficient equipment and favorable government regulations on energy savings are contributing towards the growth of the global occupancy sensors market. Furthermore, the rising trend of green buildings throughout the world is one of the major aspects that are expected to drive the market forward. Because of the growing need for energy-efficient devices and the growing popularity of smart occupancy sensors for lighting automation, the occupancy sensors market is expected to develop.

The occupancy sensors market is expected to expand in the near future, due to the rising need for energy-efficient gadgets and the rising popularity of smart occupancy sensors for the purpose of lighting automation. However, challenges with wireless network stability and worries about erroneous sensor triggering are likely to limit the expansion of the global occupancy sensors market. In addition, increased measures to save energy by private and public companies are likely to offer the market considerable growth potential in the future years.

China and the U.S. are amongst the world's leading technology providers, and they are the worst impacted countries of COVID 19. Because of the COVID-19 epidemic in these nations, the supply chain has been severely interrupted. Lockdowns and travel restrictions between countries have largely restricted the supply of raw materials and finished goods, which i likely to impact the market in the near future.

Global Occupancy Sensor Market: Overview

China was the largest consumer of electric energy in 2017, indicating its massive energy footprint. The country consumed 6.3 trillion kilowatts of energy per hour annually in the same year. U.S. follows China in terms of electricity consumption whereas India and Russia ties for the third place. The countries use 3.9 trillion kilowatts and 1 trillion kilowatts per hour every year respectively. Looking at the enormous consumption, countries are in dire need for solutions that can help them reduce energy use without compromising their business processes. As a result, occupancy sensors were brought into the game. Powered by IoT, these sensors can detect the presence of a person in the facility and turn on the lights. These lights are automatically switched off once the room or facility is vacant. In addition to lighting, occupancy sensors can control energy consumption by range of devices. This is a key proposition driving the evolution of the global occupancy sensor market.

Transparency Market Research’s report on the global occupancy sensor market offers an in-depth analysis of the crucial aspects that can support the growth of players in the market. The report provides actionable insights related to challenges, notable developments, opportunities, and key trends of global occupancy sensor market.

Global Occupancy Sensor Market: Notable Developments and Competitive Landscape

Due to the presence of players with different inclinations the global occupancy sensor market exhibits a highly fragmented landscape. Top players are taking substantial steps to elevate their footprints by focusing on diversification of products in the market. The players are making investments in enhancing their product portfolio while adopting strategies such as mergers, acquisitions, and partnerships. Players seek to acquire a competitive edge over their rivals in global occupancy sensor market through these strategies.

• In Jaunary 2019, EnOcean launched ceiling-mounted, solar-powered occupancy sensor to facilitate the user with Bluetooth lighting control system. The connection between the sensor and the system is established using Bluetooth Low Energy (BLE). The sensor is one of its kind since it is self-powered. Being the first, the sensor has disrupted the conventional occupancy sensor market and has proven the competency of EnOcean in energy harvesting technology. The sensor shall be offering best-in-class customer experience leveraging benefits such as no-maintenance, easy positioning, smooth installations, and highly flexible which may result in better revenue generation for the company.

Some of the prominent players of global occupancy sensor market are:

• Schneider Electric
• Philips Ltd
• Eaton Corporation
• Honeywell International
• Legrand Inc.

Global Occupancy Sensor Market: Key Drivers

Residential Applications Drives Better Revenue

With rising disposable income, people are incorporating latest home automation technology at their residence. The technology not just automates the functioning of devices present in the house, but also enhances the security. Moreover, looking at the per capita electricity consumption, there is a dire need of solutions that can lower down the power use in residential buildings. As a result of the trending home automation and demand for trimming down the electricity bill, people are inclining towards the implementation of occupancy sensors at their residence. This is the major factor that is boosting the growth of global occupancy sensor market in ongoing forecast period of 2019 to 2027.

Mobility and Remote Access Further Fuels Growth

People across the globe are inclining towards solutions that can provide mobility and remote access to them. Monitoring their assets from a remote location allows people to keep track of their belongings from location far away from their building. Since occupancy sensors are powered by IoT, mobility and remote monitoring are complementary benefits. Theutilization of occupancy sensors advantages for these benefits are yet another factor propelling the growth of global occupancy sensor market in the forecast period of 2019 to 2027.

Global Occupancy Sensors Market: Regional Analysis

North America is expected to account for a dominating share in global occupancy sensor market. The development in various sectors including commercial and residential building automation, coupled with growth of wireless network infrastructure in United States, is propelling home automation industry in the region. This growth of home automation industry in countries like the U.S. and Canada is key cause for the dominance of North America over other regions in the global occupancy sensor market.

The report offers a comprehensive evaluation of the market. It does so via in-depth qualitative insights, historical data, and verifiable projections about market size. The projections featured in the report have been derived using proven research methodologies and assumptions. By doing so, the research report serves as a repository of analysis and information for every facet of the market, including but not limited to: Regional markets, technology, types, and applications.

The study is a source of reliable data on:

• Market segments and sub-segments
• Market trends and dynamics
• Supply and demand
• Market size
• Current trends/opportunities/challenges
• Competitive landscape
• Technological breakthroughs
• Value chain and stakeholder analysis

The regional analysis covers:

• North America (U.S. and Canada)
• Latin America (Mexico, Brazil, Peru, Chile, and others)
• Western Europe (Germany, U.K., France, Spain, Italy, Nordic countries, Belgium, Netherlands, and Luxembourg)
• Eastern Europe (Poland and Russia)
• Asia Pacific (China, India, Japan, ASEAN, Australia, and New Zealand)
• Middle East and Africa (GCC, Southern Africa, and North Africa)

The report has been compiled through extensive primary research (through interviews, surveys, and observations of seasoned analysts) and secondary research (which entails reputable paid sources, trade journals, and industry body databases). The report also features a complete qualitative and quantitative assessment by analyzing data gathered from industry analysts and market participants across key points in the industry’s value chain.

A separate analysis of prevailing trends in the parent market, macro- and micro-economic indicators, and regulations and mandates is included under the purview of the study. By doing so, the report projects the attractiveness of each major segment over the forecast period.

Highlights of the report:

• A complete backdrop analysis, which includes an assessment of the parent market
• Important changes in market dynamics
• Market segmentation up to the second or third level
• Historical, current, and projected size of the market from the standpoint of both value and volume
• Reporting and evaluation of recent industry developments
• Market shares and strategies of key players
• Emerging niche segments and regional markets
• An objective assessment of the trajectory of the market
• Recommendations to companies for strengthening their foothold in the market

Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.