Northrook, IL -- (SBWIRE) -- 03/09/2020 -- The occupancy sensor market to grow from USD 2.2 billion in 2019 to USD 3.9 billion by 2024, at a Compound Annual Growth Rate (CAGR) of 12.3% during the forecast period (2019–2024).

The major factors that are expected to be driving the market are include increasing demand for energy-efficient devices and favorable government policies regarding energy saving as well as the development of accurate and efficient sensors that can be configured and programmed for HVAC systems. The objective of the report is to define, describe, and forecast the occupancy sensor market size based on technology, building type, network connectivity, operation, coverage area, application, and region.

Download PDF Brochure:
https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=3859894

Market Dynamics

Driver: Encouraging government policies toward energy saving

Private, public, and government firms are active participants when it comes to energy saving and proper consumption of resources. With regard to this, government bodies of all major regions (North America, Europe, and APAC) have initiated many laws, policies, and programs related to the efficient use of energy and energy saving. In such energy-saving initiatives, most of the time occupancy sensor is also considered as one of the major energy-saving devices. For instance, in the European Green Light Programme (2012), the European Commission instructed the installation of energy-efficient lighting technologies, such as adding occupancy sensors, day lighting sensors or other controls in building facilities.

Restraint: False triggering of a switch by sensors

Since the last decade, false triggering of a switch in occupancy sensor is one of the major restraining factors for the growth of the studied market. Sensors are more susceptible to false triggering due to any movement in the space. They are sensitive to all types of motions; therefore, they also react to non-occupant movement. False triggering may occur due to sunlight, anyone passing through adjacent spaces in the sight of the sensor or any machinery that heats up objects.

PIR occupancy sensors and ultrasonic occupancy sensors possess many identical features in terms of their overall performance. Their major difference lies in the area of coverage due to which ultrasonic sensors are more expensive, but provide greater sensitivity than PIR sensors. Increased coverage and sensitivity, however, results in more susceptible to false triggering due to any movement in the space. The level of false triggering of a switch by sensor is more in an ultrasonic sensor due to more coverage of area than PIR occupancysensor and increased level of sensitivity.

Opportunity: Expected incorporation of lighting controllers with in-built data connectivity technology

The lighting control market has seen significant growth in the past few years. The market includes a considerable number of products including dimmers, occupancy sensors, timers, daylight sensors, and relays. These products are used either independently or in an integrated form. They can be integrated with home automation systems through wired and wireless technologies. To enable their automated operations, lighting controllers have to be externally integrated with communication protocols.

Inquiry before Buying @
https://www.marketsandmarkets.com/Enquiry_Before_BuyingNew.asp?id=3859894

Challenge: Lack of awareness regarding benefits of occupancy sensors

In spite of widespread promotion, the development of occupancy sensors is lower than other lighting technologies such as motion sensor and vacancy sensor. It suffers from the difficulty of accurately predicting the occupancy of the occupant. The performance of an occupancy sensor is dependent on user occupancy, lighting control patterns, and sensor selection. Additionally, it is also considered to be expensive, and the awareness regarding cost-related benefits of occupancy sensors is low. This acts as a challenge for the occupancy sensor market as it affects the penetration rate in developing and underdeveloped economies.

Key Market Players

Legrand (France), Eaton (Ireland), Schneider Electric (France), Signify (Netherlands), Johnson Controls (US), Actuity Brands (US), Lutron Electronics (US), Leviton Manufacturing (US), Hubbell Incorporated (US), Honeywell (US), Texas Instruments (US), SIEMENS (Germany), OSRAM LICHIT AG (Germany), Enerlites (US), Alan Manufacturing (US), Crestron Electronics (US), Functional Devices (US), Pyrotech- Tempsens Group (India), Hager Group (Germany), and Brück Electronic (Germany).

About MarketsandMarkets™
MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies' revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets's flagship competitive intelligence and market research platform, "Knowledge Store" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

Contact:
Mr. Sanjay Gupta
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : +1-888-600-6441
Email: sales@marketsandmarkets.com