Market Snapshot:
Occupancy Sensor is a device that used for controlling heat & light and also detects the occupancy of space by people. Occupancy Sensor market is expected to mark significant growth over forecasted period owing to increasing consumers spending on reducing energy consumption, reliable triggering & cost efficiency and technological advancement. The major companies are adding more proven technologies systematically and strategically in Asia-Pacific countries as these countries are focused on fastest-growing verticals in the lighting, spectrometers, gas & fire detection systems, etc.The research analyst at AMA estimates Occupancy Sensor market to grow at a compounded annual growth rate of 18.4%
Segment Analysis
AMA Research have segmented the market of Global Occupancy Sensor market by Type, Application and Region. On the basis of Type, Passive Infrared (PIR) are dominating the market in the year 2020 where as Ultrasonic stood as second largest market share.
On the basis of geography, the market of Occupancy Sensor has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). North America region held largest market share in the year 2020. Europe on the other hand stood as second largest market due to the presence of key companies into the region and high technological advancement.
Market Trend
Collaboration and Tie Up Of Leading Players and Substitutes Available For Occupancy Sensor
Market Drivers
IIncrease Demand of Energy Efficient Devices Boost the Occupancy Sensor Market. and Rapid Demand Configurable and Programmable Sensors for HVAC Systems.
Opportunities
Proliferation of New Vision Based Intelligent Occupancy Sensors Leads to Grow the Occupancy Sensor Market. and Upsurge Demand of Executing IPOs.
Restraints
- False Triggering of Switch Hampers the Occupancy Sensor Market.
- Inconsistency Issues Related to Wireless Network Systems.
In addition to the aforementioned factor, IIncrease Demand of Energy Efficient Devices Boost the Occupancy Sensor Market.
is expected to propel the growth of the market over the forecast period.
The key Players profiled in the study are Legrand S.A. (France), Schneider Electric (France), Acuity Brands, Inc. (United States), Leviton Manufacturing Co. Inc. (United States), Eaton Corporation plc (Ireland), Lutron Electronics Co, Inc. (United States), Johnson Controls Inc. (United States), Honeywell International, Inc. (United States) and General Electric Company (United States). A lot of United States players are profiled in the research study indicating a strong market dependence.