SecurityWorldMarket

29/08/2019

Occupancy sensor market projected to reach 3.9 B USD

Northbrook, Il (USA)

The latest report on the occupancy sensor market by Marketsandmarkets shows a global forecast to 2024 projected to reach USD 3.9 billion by 2024 from USD 2.2 billion in 2019 at a CAGR of 12.3%. The increasing demand for energy-efficient devices and government policies geared towards energy saving are factors driving the growth of the sector.

Passive infrared-based sensors have so far accounted for the largest share of the occupancy sensor market in 2019. The passive infrared-based sensors are ideal and the oldest among the occupancy detection technology options and cheaper when compared with most other sensors because of which, their adoption is higher than other technologies. Passive infrared-based sensors are utilised widely in places where there are fewer hindrances and interruptions, such as small offices, corridors, and meeting places. Moreover, leading players are offering passive infrared-based occupancy sensors, such as Legrand (France), Schneider Electric (France), Johnson Controls (US), and Actuity Brands (US).

The lighting system application is expected to lead the occupancy sensors market by 2019. Lighting control is the prime application area of occupancy sensors, and with the help of these sensors, over 60-70% of the costs related to lighting can be saved. In addition to saving energy costs installing occupancy sensors for lighting and HVAC controls, consumers can also minimize installation and maintenance costs, which will help in the adoption of occupancy sensors for lighting system applications.

North America is expected to lead the occupancy sensor market and is projected to experience an increase in traction during the forecast period due to the presence of several leading players such as Johnson Controls (US), Actuity Brands (US), Leviton Manufacturing (US). The other reasons attributed to the growth include supportive government plans, laws, programmes, and associations.

Legrand (France), Schneider Electric (France), Eaton (Ireland), Johnson Controls (US), Signify (Netherlands), Actuity Brands (US), Leviton Manufacturing (US), Lutron Electronics (US), Honeywell (US), Hubbell Incorporated (US), Texas Instruments (US), Osram Lichit AG (Germany), Siemens (Germany), Alan Manufacturing (US), Enerlites (US), Functional Devices (US), Crestron Electronics (US), Hager Group (Germany), Brück Electronic (Germany), and Pyrotech- Tempsens Group (India) are among the major companies quoted by the researchers as operating in the occupancy sensors market.


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