SecurityWorldMarket

05/11/2024

Cost & energy saving initiatives drive occupancy sensor market

Delray Beach, Fl (USA)

As organisations and homeowners look to save energy and reduce utility costs, occupancy sensors can offer effective solutions by simply adjusting lighting, heating, or cooling based on instantaneous data for occupancy.  And, according to researchers at Marketsandmarkets, these initiatives are driving the market from around USD 2.75 billion in 2024 to an almost double estimate of USD 5.2 billion in 2030, with a CAGR of 11.2% over the forecast period.

The emergence of smart building technologies and the Internet of Things makes it easier to build automated systems in which occupancy sensors are integrated. Coupled with regulatory pressures for sustainability and energy conservation, there is ongoing demand for occupancy sensors as critical components of modern energy management strategies.

Increased demand for wider coverage areas

The 180-360°is expected to grow fastest during the forecast period due to its ability to provide full monitoring and detection capabilities in larger and more complex spaces. These sensors can cover expansive areas without having to take multiple units in open areas, such as open office layouts, large conference rooms, and industrial environments. With the trend of open plan designs in workplaces and a need for efficient solutions in energy management, sensors to detect occupancy across wider angles are becoming increasingly in demand.

Smart buildings, regulations and cost saving drives demand

The commercial sector dominates the market of occupancy sensors, primarily due to the need for energy efficiency, regulatory compliance, and enhanced operational management. It is estimated that a substantial number of commercial buildings- offices, retail, and hotels- use occupancy sensors to avoid energy wastage by controlling lighting and HVAC through occupancy levels. This saves considerable amounts of money, and also sees organisations come under energy regulations and sustainability goals. On the other hand, the growing number of smart buildings and automation in the commercial sector gives a boost to the demand for occupancy sensors since they easily integrate with building management systems.

Emphasis on energy efficiency spurs strong US demand

The US dominates the North American occupancy sensor market mainly due to the factors such as advanced technological infrastructure, an emphasis on energy efficiency, and widely practiced smart building practice. Energy-saving initiatives are spurred by the government and other regulatory agencies in the United States and encourage businesses and homeowners to invest in smart technology aimed at enhancing energy management. Major players in the occupancy sensor industry have also made huge investments in research and development for driving innovation and product offerings in the market.

Key players

The occupancy sensor market includes significant Tier I and II players like Legrand, Johnson Controls Inc, Eaton, Honeywell International Inc, Schneider Electric, Acuity Brands Inc, Signify Holding, Hubbell, Leviton Manufacturing Co., Ltd., and Lutron Electroncis Co Ltd are some of the key players in the occupancy sensor market named by the research.


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