Occupancy Sensor Market Revenue |Size 2019 – 2024 Professi

Occupancy Sensor Market Revenue |Size 2019 – 2024 Professional Outlook Covers Latest Trends, Business Gross Margin, Product Demand, and Industry Share, and Forecast

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Report Titled:Occupancy Sensor Market - Growth, Trends and Forecast (2019 - 2024)

Occupancy Sensor Marketreport consists of an extensive primary research, as well as an in-depth analysis of the qualitative and quantitative aspects by various industry specialists and professionals, to gain a deeper insight of the market and the overall landscape. Occupancy Sensor market also shows information of Product awareness, adept workforce, technological advancements, raw material affluence, favorable environment, and rapidly growing product demand are some factors that persistently boost the growth of the Occupancy Sensor market.

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Scope of the Report:

  • Occupancy sensor is used to save energy, comply with building codes, provide automatic control, and various other such application. One of the most-used technologies among the occupancy sensors is the passive infrared, which detects occupancy within a specific field and activates lighting and is extremely useful in small spaces. Moreover, advent of advanced occupancy sensors, such as micro-phonics, intelligent occupancy sensor, image processing occupancy sensor, and the new vision-based intelligent occupancy sensor for HVAC systems are fuelling the growth of the occupancy sensor market.

Major Key Players:

  • Honeywell International
  • Eaton Corporation
  • Schneider Electric
  • Legrand Inc.
  • Leviton Electronics (Dongguan) Co., Ltd
  • Philips Ltd
  • Hubbell Building Automation, Inc.
  • ohnson Controls GmbH
  • Pammvi Group
  • Lutron Electronics, Inc.
  • General Electric
  • Texas Instruments Incorporated

Market Overview:

  • The global occupancy sensor market was worth USD 2.07 billion in 2018, and is projected to reach USD 5.67 billion by 2024, recording a CAGR of 18.22% over the forecast period (2019-2024). Sensor-laden lighting systems now have industry acceptance for data-driven beyond lighting. In coming years, expectation to see more OEMs (original equipment manufacturer) integrating sensors in luminaires to create smart luminaires can be an integral part of a connected lighting system, which will grow the market in future.
  • - Rising demand for energy-efficient devices is expected to drive the market. Occupancy sensors play a vital role in reducing energy consumption. This is achieved through the sensors, which shuts down devices and other equipment on the basis of occupancy. These sensors help in reducing light pollution and they can be used for indoor and outdoor spaces.
  • - The demand for passive infrared is expected to continue in the future, due to the low cost, demand for energy-efficient devices, and less power requirement. It has a range of applications, such as lighting, spectrometers, gas and fire detection systems, etc. Some of the major benefits of passive infrared sensors are accurate movement detection, reliable triggering, and cost efficiency. Vending machine designers, for example, are now incorporating PIR sensors into their products so that their displays only light up when someone is standing in front of the unit or maybe waving their hand in front of a panel which saves on operating costs.
  • - However, due to the false triggering of switch and inconsistency issues associated with wireless network system are anticipated to decrease the market growth during the forecast period.

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Key Market Trends:

Smart City to Increase the Growth of Occupancy Sensor Market

- The trend of urbanization is growing worldwide and according to the United Nations, Department of Economic and Social Affairs, 60% of the population will be living in cities by 2050. With more population shifting to urban areas, cities across the globe will be in trend to develop the smart city, which will enhance the growth of market.
- A smart city can create an efficient and smart services delivery platform for public and municipal workers by installing sensors in the city and to create platforms that allow the share of information and give it for proper use to the public, city managers, businesses and professionals. The platform can have common data warehouse where different sensor system store their informations.
- A truly smart parking system should not only be aware of the occupancy status of each parking space, but also be able to guide the user to it.
- Traffic congestion caused by vehicles is an alarming problem at a global scale and it has been growing exponentially, where occupancy sensors like IoT sensors and ultrasonic sensors plays a major role with the help of edge computing, where traffic patterns will help in managing the traffic problem very efficiently.
- Santander, the Spanish city is embedded with more than 12,000 sensors that measure everything from the amount of trash in containers to the number of parking spaces available, to the size of crowds. Los Angeles has implemented a smart traffic solution to control traffic flow. Road-surface sensors and closed-circuit television cameras send real-time updates about the traffic flow to a central traffic management platform
- A vision-based occupancy sensing system with real-time data capture and analysis offers major advantages over PIR and video systems which will help smart city development in growing the occupancy sensor market due to its computing model.

North America to Account for a Significant Market Share

- The demand in North America is mainly driven by a higher focus on innovations and advancements in occupancy sensors such as image processing occupancy sensor (IPOS), intelligent occupancy sensor (IOS), and micro-phonics.
- The largest industry of occupancy sensors is in residential and commercial buildings due to a massive growth in the construction sector in thi region. The technology has a major role to play in this sector due to the cost effective matrix, and results into a longer life cycle of products and systems, along with greater reliability.
- United States is leading the market due to development in various sectors, such as commercial and residential and increase in the rise of wireless network infrastructure is leading the growth in the home automation, which is helping in the growth of occupancy sensor market. Similarly, the growing demand for HVAC systems in US region is anticipated to play a crucial role in this market.

Competitive Landscape:

Most of the companies present in the market are efficient at the technological front, but require significant support for enhancing their services and expanding their businesses. Thus, mergers and acquisitions offer significant opportunities to gain the attention of a large number of providers across developed regions.

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Occupancy Sensor Market Covers Following Points in TOC:

1 INTRODUCTION
1.1 Study Deliverables
1.2 Study Assumptions
1.3 Scope of the Study

2 RESEARCH METHODOLOGY

3 EXECUTIVE SUMMARY

4 MARKET DYNAMICS
4.1 Market Overview
4.2 Introduction to Market Drivers and Restraints
4.3Market Drivers
4.3.1 Rising Demand for Energy-Efficient Devices
4.3.2 Demand for Passive Infrared Due to Low Cost and High Energy Efficient
4.4Market Restraints
4.4.1 False Triggering of Switch and Inconsistency Issues Associated with Wireless Network Systems
4.5 Value Chain Analysis
4.6 Industry Attractiveness - Porter's Five Force Analysis
4.6.1 Threat of New Entrants
4.6.2 Bargaining Power of Buyers/Consumers
4.6.3 Bargaining Power of Suppliers
4.6.4 Threat of Substitute Products
4.6.5 Intensity of Competitive Rivalry

5 TECHNOLOGY SNAPSHOT

6 MARKET SEGMENTATION
6.1 By Network Type
6.1.1 Wired
6.1.2 Wireless
6.2 By Technology
6.2.1 Ultrasonic
6.2.2 Passive Infrared
6.2.3 Microwave
6.3 By Building Type
6.3.1 Residential
6.3.2 Commercial
6.4 By Application
6.4.1 Lighting Control
6.4.2 HVAC
6.4.3 Security and Surveillance
6.4.4 Other Applications
6.5 Geography
6.5.1 North America
6.5.2 Europe
6.5.3 Asia-Pacific
6.5.4 Latin America
6.5.5 Middle East and Africa

7 COMPETITIVE LANDSCAPE
7.1 Company Profiles
7.1.1 Honeywell International
7.1.2 Eaton Corporation
7.1.3 Schneider Electric
7.1.4 Legrand Inc.
7.1.5 Leviton Electronics (Dongguan) Co., Ltd
7.1.6 Philips Ltd
7.1.7 Hubbell Building Automation, Inc.
7.1.8 ohnson Controls GmbH
7.1.9 Pammvi Group
7.1.10 Lutron Electronics, Inc.
7.1.11 General Electric
7.1.12 Texas Instruments Incorporated

8 INVESTMENT ANALYSIS

9 MARKET OPPORTUNITIES AND FUTURE TRENDS

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