Occupancy Sensor Market Skyrocketing

  • Occupancy sensors for residential buildings to register the highest CAGR in the market during forecast 2019–2024.
  • Wireless occupancy sensors to register the highest CAGR in the occupancy sensor market during the forecast period.
  • Occupancy sensor market in RoW to grow at highest CAGR during the forecast period.

The occupancy sensor market is projected to grow from $2.2 billion in 2019 to $3.9 billion by 2024 at a CAGR of 12.3%.

Increasing popularity of wireless occupancy sensors

The introduction of wireless technology has been one of the major encouragements to the electronics and semiconductor industry. It helps reduce wired work of any device, which, in turn, reduces the cost. Occupancy sensors are mainly deployed with the help of 2 key network connectivity mediums—wired network connectivity and wireless network connectivity. Different types of wireless network connectivity are Wi-Fi, Z-wave, ZigBee, EnOcean, BACnet, and LonWorks, among others.

If an occupancy sensor is installed with the help of wired network connectivity, installation charges are more than that of wireless occupancy sensors. This is due to the cost associated with wires and batteries in wired connections. On the other hand, if wireless occupancy sensor is installed, it replaces the existing wall switch with wireless wall switch receiver and eliminates the usage of wires and batteries. Moreover, wireless occupancy sensor eliminates the cost of maintenance.

The use of wireless technology in occupancy sensors helps save energy and conserve environment; it involves minimum installation cost. With regard to this, it increases the scope of installing many wireless occupancy sensors by end users during the forecast period. By 2024, wireless sensors are expected to hold more than 80% market share.

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Inconsistency issues related to wireless network systems

Connecting an occupancy sensor with other control systems such as lighting control systems and HVAC control systems occasionally creates problems. This is mainly due to incompatibility issues when an occupancy sensor working on certain wireless protocol is connected to a lighting and HVAC control system working on another wireless protocol.

For instance, if an internet-enabled system uses ZigBee technology to communicate with smart control systems and if all the lighting devices are connected to a common network, then the entire network needs to be integrated with a similar wireless technology that is compatible. It has been observed that the lighting industry, at present, lacks a unified approach when it comes to wireless connectivity.

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Emma R

Helping CXO find how changing revenue mix of their clients and client's client is likely to impact their revenue decisions

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