Lucintel Forecasts Occupancy Sensor Market to Reach $3.1 Billion by 2028

Market-Research

According to the recent study the occupancy sensor market is projected to reach an estimated $3.1 billion by 2028 from $1.6 billion in 2023, at a CAGR of 14% from 2023 to 2028. Growth in this market is primarily driven by favorable government policies towards energy saving and increasing demand of energy-efficient devices for residential as well as commercial applications.

A more than 150 – page report is developed to understand trends, opportunities and forecast in occupancy sensor market by technology (passive infrared, ultrasonic, dual, and others), connectivity (wired and wireless), end use industry (residential building and commercial building), and region (North America, Europe, Asia Pacific, and the Rest of the World).

Download sample report by clicking on below link https://www.lucintel.com/occupancy-sensor-market.aspx

“Wireless sensor market is expected to remain the largest segment during the forecast period.”

Based on connectivity, the occupancy sensor market is segmented into wired and wireless. Lucintel forecasts that the wireless sensor market is expected to remain the largest segment due to as these sensors helps in saving energy and light pollution by turning off gadgets and lights based on the occupancy.

“Within the occupancy sensor market, the residential building segment is expected to remain the largest end use industry”

Based on end use industry the residential building segment is expected to witness the highest growth over the forecast period due to growing demand of security and surveillance systems in the residential buildings along with increasing trend towards smart home and automation.

“North America will dominate the occupancy sensor market in near future”

North America will remain the largest region due to growing construction sector, increase in number of wireless network infrastructure, and rising awareness towards energy-saving systems.

Download Brochure of this report by clicking on https://www.lucintel.com/occupancy-sensor-market.aspx

Major players of occupancy sensor market are adopting various growth strategies like new product launches, expansions, merger and acquisitions, partnerships, agreements, and collaborations to expand their presence in this market. Schneider Electric, Eaton, Legrand, Johnson Controls, Honeywell, Siemens, and Texas Instruments are among the major occupancy sensor providers.

This unique research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or click on this link https://www.lucintel.com/occupancy-sensor-market.aspx or helpdesk@lucintel.com

About Lucintel

At Lucintel, we offer solutions for you growth through game changer ideas and robust market & unmet needs analysis. We are based in Dallas, TX and have been a trusted advisor for 1,000+ clients for over 20 years. We are quoted in several publications like the Wall Street Journal, ZACKS, and the Financial Times. For further information, visit www.lucintel.com

Contact:
Roy Almaguer
Lucintel
Dallas, Texas, USA
Email: roy.almaguer@lucintel.com
Tel. 972.636.5056

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