Occupancy Sensor Market Report 2019-2024 | Industry Trends, Market Share, Size, Growth and Opportunities
According to the latest report by IMARC Group titled, “Occupancy Sensor Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2019-2024”, the market reached a value of US$ 2.02 Billion in 2018. Looking forward, the occupancy sensor market is expected to reach a value of US$ 4.84 Billion by 2024, registering a CAGR of around 16% during 2019-2024.
Occupancy sensors, also known as vacancy sensors, are devices that automatically regulate the functioning of installed equipment and appliances based on the occupancy of a room. These sensors are generally installed for controlling the ventilation, temperature, light, security, and surveillance systems. Most commonly, occupancy sensors utilize passive infrared, ultrasonic, and dual technologies for their operations. They are energy-efficient, highly flexible, maintenance-free, and cost-effective, with easy installation. Owing to this, occupancy sensors find wide applications across several commercial, industrial, and residential spaces, along with usage in the automobile industry.
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The increasing demand for energy-efficient devices, coupled with government policies for reducing carbon emissions and developing green buildings, have fueled the market growth. Moreover, various technological advancements, such as the introduction of image processing occupancy sensors (IPOS), intelligent occupancy sensors, and micro-phonics, have increased their popularity across the world. Apart from this, the rise in traffic congestion issues has led to the increasing installation of occupancy sensors, such as the Internet of Things (IoT) sensors and ultrasonic sensors for better traffic management. Additionally, they are increasingly being installed in passenger cars and light and heavy commercial vehicles.
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Key Market Segmentation
Market Breakup by Network Type
1. Wired
2. Wireless
Market Breakup by Technology
1. Passive Infrared
2. Ultrasonic
3. Dual Technology
4. Others
Market Breakup by Building Type
1. Residential
2. Commercial
Market Breakup by Coverage Area
1. Less Than 89 Degree
2. 90 Degree-179 Degree
3. 180 Degree-360 Degree
Market Breakup by Application
1. Lighting Control
2. HVAC
3. Security Surveillance
Market Breakup by Region
1. North America
2. Europe
3. Asia Pacific
4. Middle East and Africa
5. Latin America
Competitive Landscape
The report has also examined the competitive landscape of global occupancy sensor market. Some of the major players in the market are: Honeywell International, Eaton Corporation, Schneider Electric, Legrand, Acuity Brands, Leviton Manufacturing, Pammvi Group, General Electric, Koninklijke Philips N.V., Hubbell Building Automation, Texas Instruments, Johnson Controls, Lutron Electronics, etc.
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