North America to account for the largest size of occupancy sensor market by 2025
Posted by Tom C on May 13th, 2021
The Occupancy Sensor Market with COVID-19 Impact Analysis is projected to grow from USD 1.9 billion in 2020 to USD 3.6 billion by 2025 at a CAGR of 13.3% during the forecast period. The increasing demand for energy-efficient devices and government policies towards energy saving are factors driving the growth of the global occupancy sensors market.
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Factors such as expected incorporation of lighting controllers with in-built data connectivity technology, promotion of green building by governments, and developments in vision-based intelligent occupancy sensor for HVAC system are expected to create growth opportunities for the market.
Passive infrared-based occupancy sensors led the occupancy sensor market in 2019
Passive infrared-based sensors accounted for the largest share of the occupancy sensor market in 2019. The passive infrared-based sensors are ideal and the oldest among the occupancy detection and cheaper as compared with other sensors because of which their adoption is higher than other technologies. Passive infrared-based sensors are utilized widely in places where there are fewer hindrances and interruptions, such as small offices, corridors, and meeting. Moreover, leading players offering passive infrared-based occupancy sensors include Legrand (France), Schneider Electric (France), Johnson Controls (US), and Acuity Brands (US).
Lighting system to account for the largest share of occupancy sensor market by 2025
The lighting system application is expected to lead the occupancy sensors market by 2019. Lighting control is the prime application area of occupancy sensors, and with the help of these sensors, over 60-70% of the costs related to lighting can be saved. Apart from saving energy costs installing occupancy sensors for lighting and HVAC controls, consumers can also minimize installation and maintenance costs, which will help in the adoption of occupancy sensors for lighting system application.
North America to account for the largest share of occupancy sensor market by 2025
The market in North America is projected to experience an increase in traction during the forecast period due to the presence of several leading players such as Johnson Controls (US), Actuity Brands (US), Leviton Manufacturing (US). The other reasons attributed to the growth include supportive government plans, laws, programs, and associations.
Legrand (France), Schneider Electric (France), Eaton (Ireland), Johnson Controls (US), Signify (Netherlands), Actuity Brands (US), Leviton Manufacturing (US), Lutron Electronics (US), Honeywell (US), Hubbell Incorporated (US), Texas Instruments (US), OSRAM LICHIT AG (Germany), SIEMENS (Germany), Alan Manufacturing (US), Enerlites (US), Functional Devices (US), Crestron Electronics (US), Hager Group (Germany), Brück Electronic (Germany), and Pyrotech- Tempsens Group (India) are among the major companies operating in the occupancy sensors market.
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About the AuthorTom C
Joined: July 2nd, 2020
Articles Posted: 409
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