The occupancy sensor market is projected to grow at a CAGR of 12.94% during the forecast period to reach US$1,375.279 million by 2027, from US$586.672 million in 2020. Occupancy sensors are motion-detecting sensors that enable the detection of space occupancy using multiple advanced technologies like microwave, radar, ultrasonic, infrared, or video image processing. In the presence or absence of a person, these motion sensors automatically facilitate the necessary actions, like turning on or off the HVAC or light systems. The sensors are usually integrated with the IoT network of the building systems for the efficient management of the occupancy of space and energy conservation. The technological advancements and innovation of programmable sensors with precise detection and efficient performance have made the working of occupancy sensors possible like never before. The rapid penetration of IoTs and the increasing development of smart homes, smart offices, and smart cities are a few factors that predominantly contribute to the global occupancy sensor market. The global occupancy sensor market is further segmented based on the types of sensors, end-user sectors, and geographical regions.
The increasing demand for energy-efficient devices and the active development of integrated smart occupancy sensor solutions are expected to propel the market onward during the forecasted period.
In the current trend of digitalization, where the world is actively looking for measures to automate the various operational processes, occupancy sensors offer a wide range of opportunities for building owners, from residential houses to commercial malls and hospitals. Reduced energy, resource consumption, and cost-effectivity are its major appealing factors. For instance, these sensors are actively being used in offices to efficiently manage space utilization, meeting room efficiency, and desk hoteling, among many others, by installing them in multiple strategic locations to detect motion in high-traffic areas. Owing to such benefits, occupancy sensors are seeing increased demand in commercial buildings. Many occupancy sensor manufacturers are actively deploying strategic partnerships to provide a better user experience. In January 2022, for instance, a Sweden-based global IoT solutions provider, Sensative, and a leading Low Power Wide Area Network connectivity solutions provider for IoTs, Actility, had entered into a collaborative relationship along with joint work with WMW. The former has launched an integrated LoRaWAN-enabled IoT desk occupancy monitoring solution through this partnership. This solution uses an active IR sensor to monitor desks. I In April 2022, Ambarella and Lumentum partnered to develop a new joint reference design for occupancy sensors. These new sensors combine the latest artificial intelligence technology with privacy for smart buildings.
Additionally, these sensors are also being extensively utilized in parking facilities to enhance customers’ parking experiences. Thus, many manufacturers are actively adding new elements to such solutions to enhance consumers’ automobile mobility and parking experiences. For instance, in November 2020, Quercus Technologies, an optimal parking solutions provider, launched a series of updates to its exhaustive parking solutions – matrix information displays and sensor lights for an individual parking lot. In the same year, a survey test performed by the company at Oakland Mall, one of its clients, showed a 99.6% success rate in vehicle detection. Another example of this is the launch of eXactpark, a game-changing innovative parking solution launched by eleven-X, a worldwide leading wireless IoT solutions supplier, in December 2021. This patent-pending, real-time occupancy sensor detector is designed for private campuses, organizations, and various other facilities. This unique smart parking device utilizes LoRaWan, a low-power technology that enables longer and more efficient battery life for these sensors, as they effectively integrate AI and wireless technologies to detect the occupancy of parking lots.
The growing investment in the development of smart houses, enterprise buildings, factories, and cities is anticipated to drive the market onward in the forecasted period.
Smart cities and homes integrate wireless technologies, AI, and IoT, allowing users to remotely monitor and control power management via an integrated platform. These technologies allow the management personnel of cities to interact with the infrastructure facilities and with the community to regulate the operations in the area. With the sole quest to propel economic growth and enhance the quality of life through harnessing smart technological solutions, multiple governments across the globe are actively developing smart cities. For instance, as a part of the National Smart Cities Mission, an urban retrofitting and renewal program, the Union Ministry of Urban Development of the Government of India has commenced and successfully completed 3577 tendered projects, using about? 60,073 crores out of 6939 overall projects. At the same time, in November 2021, the Ministry of Land, Infrastructure, and Transport of the South Korean government announced its initiative to undertake the development of smart city platforms across 64 selected medium and small-sized cities by 202 through a state project worth USD 25 million. Similar outcomes being deployed in other parts of the world are increasing the demand for the occupancy sensor market.
The outbreak of COVID-19 has negatively affected the occupancy sensor market. Several manufacturing industries were forced to close temporarily due to the mandated lockdowns. Furthermore, the surge in active cases and social distancing measures reduced staffing, thereby reducing productivity. Furthermore, the recession in the economy has forced several companies to do many ongoing projects. However, the increased adoption of automation technologies post-COVID to monitor and regulate the systems remotely is expected to positively affect the market growth for occupancy sensors in the projected period.
|Market size value in 2020||US$586.672 million|
|Market size value in 2027||US$1,375.279 million|
|Growth Rate||CAGR of 12.94% from 2020 to 2027|
|Forecast Unit (Value)||USD Million|
|Segments covered||Sensor Type, Application, End-User, And Geography|
|Regions covered||North America, South America, Europe, Middle East and Africa, Asia Pacific|
|Companies covered||Leviton Manufacturing Company, Lutron Electronics, Acuity Brands, Legrand, Schneider Electric, Cooper Industries, Eaton Corporation Plc, General Electric Company, Philips Ltd, Johnson Controls GmbH|
|Customization scope||Free report customization with purchase|
Key Market Segments
Frequently Asked Questions (FAQs)
Q1. What will be the occupancy sensor market size by 2027?
A1. The occupancy sensor market is projected to reach a total market size of US$1,375.279 million in 2027.
Q2. What is the size of the occupancy sensor market?
A2. Occupancy Sensor Market was valued at US$586.672 million in 2020.
Q3. What are the growth prospects for the occupancy sensor market?
A3. The global occupancy sensor market is projected to grow at a CAGR of 12.94% during the forecast period.
Q4. How is the global occupancy sensor market segmented?
A4. The occupancy sensor market has been segmented by sensor type, application, end-user, and geography.
Q5. What factors are anticipated to drive the occupancy sensor market growth?
A5. The increasing demand for energy-efficient devices and the active development of integrated smart occupancy sensor solutions are expected to propel market growth.
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