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Occupancy Sensor Market worth $5.20 billion in 2030 - Exclusive Report by MarketsandMarkets™
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.
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 organizations 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.
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The US dominates the North American occupancy sensor industry 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.
The occupancy sensor companies includes significant Tier I and II players like Legrand (France) , Johnson Controls Inc (US), Eaton (Ireland) , Honeywell International Inc (US), Schneider Electric (France), Acuity Brands Inc (US), Signify Holding (Netherland), Hubbell (US), Leviton Manufacturing Co., Ltd., (US), and Lutron Electronics Co Ltd (US) are some of the key players in the occupancy sensor market.
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