IMARC Group, a leading market research company, has recently released a report titled "Occupancy Sensor Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028." The study provides a detailed analysis of the industry, including the global occupancy sensor market share, size, trends, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.
What Are The Growth Prospects Of The Occupancy Sensor Industry?
According to the report, The global occupancy sensor market size reached US$ 2.2 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 4.4 Billion by 2028, exhibiting a growth rate (CAGR) of 12.2% during 2023-2028.
What is Occupancy Sensor?
Occupancy sensors, also known as vacancy sensors, are devices that automatically regulate the functioning of installed equipment and appliances based on the occupancy of a room. These sensors are generally installed for controlling the ventilation, temperature, light, security, and surveillance systems. Most commonly, occupancy sensors utilize passive infrared, ultrasonic, and dual technologies for their operations. They are energy-efficient, highly flexible, maintenance-free, and cost-effective, with easy installation. Owing to this, occupancy sensors find wide applications across several commercial, industrial, and residential spaces, along with usage in the automobile industry.
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What are the growth prospects and trends in the Occupancy Sensor industry?
The increasing demand for energy-efficient devices, coupled with government policies for reducing carbon emissions and developing green buildings, have fueled the market growth. Moreover, various technological advancements, such as the introduction of image processing occupancy sensors (IPOS), intelligent occupancy sensors, and micro-phonics, have increased their popularity across the world. Apart from this, the rise in traffic congestion issues has led to the increasing installation of occupancy sensors, such as the Internet of Things (IoT) sensors and ultrasonic sensors for better traffic management. Additionally, they are increasingly being installed in passenger cars and light and heavy commercial vehicles.
What is included in market segmentation?
The report has segmented the market into the following categories:
Market Breakup by Network Type:
- Wired
- Wireless
Market Breakup by Technology:
- Passive Infrared
- Ultrasonic
- Dual Technology
- Others
Market Breakup by Building Type:
- Residential
- Commercial
Market Breakup by Coverage Area:
- Less Than 89 Degree
- 90 Degree-179 Degree
- 180 Degree-360 Degree
Market Breakup by Application:
- Lighting Control
- HVAC
- Security Surveillance
Market Breakup by Region:
- North America (United States, Canada)
- Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa
Who are the key players operating in the industry?
The report covers the major market players including:
- Honeywell International
- Eaton Corporation
- Schneider Electric
- Legrand
- Acuity Brands
- Leviton Manufacturing
- Pammvi Group
- General Electric
- Koninklijke Philips N.V.
- Hubbell Building Automation
- Texas Instruments
- Johnson Controls
- Lutron Electronics, etc.
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