Global Occupancy Sensor Market: Overview

China was the largest consumer of electric energy in 2017, indicating its massive energy footprint. The country consumed 6.3 trillion kilowatts of energy per hour annually in the same year. U.S. follows China in terms of electricity consumption whereas India and Russia ties for the third place. The countries use 3.9 trillion kilowatts and 1 trillion kilowatts per hour every year respectively. Looking at the enormous consumption, countries are in dire need for solutions that can help them reduce energy use without compromising their business processes. As a result, occupancy sensors were brought into the game. Powered by IoT, these sensors can detect the presence of a person in the facility and turn on the lights. These lights are automatically switched off once the room or facility is vacant. In addition to lighting, occupancy sensors can control energy consumption by range of devices. This is a key proposition driving the evolution of the global occupancy sensor market.

Transparency Market Research’s report on the global occupancy sensor market offers an in-depth analysis of the crucial aspects that can support the growth of players in the market. The report provides actionable insights related to challenges, notable developments, opportunities, and key trends of global occupancy sensor market.

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Global Occupancy Sensor Market: Notable Developments and Competitive Landscape

Due to the presence of players with different inclinations the global occupancy sensor market exhibits a highly fragmented landscape. Top players are taking substantial steps to elevate their footprints by focusing on diversification of products in the market. The players are making investments in enhancing their product portfolio while adopting strategies such as mergers, acquisitions, and partnerships. Players seek to acquire a competitive edge over their rivals in global occupancy sensor market through these strategies.

• In Jaunary 2019, EnOcean launched ceiling-mounted, solar-powered occupancy sensor to facilitate the user with Bluetooth lighting control system. The connection between the sensor and the system is established using Bluetooth Low Energy (BLE). The sensor is one of its kind since it is self-powered. Being the first, the sensor has disrupted the conventional occupancy sensor market and has proven the competency of EnOcean in energy harvesting technology. The sensor shall be offering best-in-class customer experience leveraging benefits such as no-maintenance, easy positioning, smooth installations, and highly flexible which may result in better revenue generation for the company.

Some of the prominent players of global occupancy sensor market are:

• Schneider Electric
• Philips Ltd
• Eaton Corporation
• Honeywell International
• Legrand Inc.

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Global Occupancy Sensor Market: Key Drivers

Residential Applications Drives Better Revenue

With rising disposable income, people are incorporating latest home automation technology at their residence. The technology not just automates the functioning of devices present in the house, but also enhances the security. Moreover, looking at the per capita electricity consumption, there is a dire need of solutions that can lower down the power use in residential buildings. As a result of the trending home automation and demand for trimming down the electricity bill, people are inclining towards the implementation of occupancy sensors at their residence. This is the major factor that is boosting the growth of global occupancy sensor market in ongoing forecast period of 2019 to 2027.

Mobility and Remote Access Further Fuels Growth

People across the globe are inclining towards solutions that can provide mobility and remote access to them. Monitoring their assets from a remote location allows people to keep track of their belongings from location far away from their building. Since occupancy sensors are powered by IoT, mobility and remote monitoring are complementary benefits. Theutilization of occupancy sensors advantages for these benefits are yet another factor propelling the growth of global occupancy sensor market in the forecast period of 2019 to 2027.