NEW YORK, July 29, 2015 /PRNewswire/ -- The Global Occupancy sensors market is expected to increase to $3.01 billion by 2018 at a CAGR of 19.96% over the period 2014-2020. Occupancy sensors have gone through several technological advancements since their development is due to continuous demand in the market for energy saving devices. The increasing demand for energy efficient devices and favorable government policies regarding energy saving are the two major driving factors for occupancy sensor market. There is a great potential to reduce the energy consumption by mounting occupancy sensors in buildings. The growth in the real estate sector is another major driver for the occupancy sensing market, as the number of construction projects are increasing. The growth of the Occupancy Sensors Market is currently being hindered by false triggering of switch by sensors, and incompatibility issues with regards to wireless network systems.
Latest advancements in occupancy sensors such as image processing occupancy sensor (IPOS), intelligent occupancy sensor (IOS), and micro-phonics in the manufacturing of occupancy sensors made grab more market share in a variety of fields. The key applications of occupancy sensors are in residential, commercial, educational, healthcare, retail and hospitality buildings. The largest industry of occupancy sensors is in residential and commercial buildings due to a massive growth in the construction sector in various regions across the globe. The technology has a major role to play in this sector due to the cost effective matrix, and results into a longer life cycle of products and systems, along with greater reliability.
The Global Occupancy Sensors Market is segmented on the basis of Type (Wired & Wireless), Technology (Passive Infrared and Microwave), Industry (Residential, Offices, Hotels, Healthcare, Educational, and Others), & Geography (North America, Europe, Asia Pacific, Latin America, & Middle East & Africa).
This report describes a detailed study of the Porter's five forces analysis of the market. All the five major factors in these markets have been quantified using the internal key parameters governing each of them. It also covers the market landscape of these players which includes the key growth strategies and competition analysis.
The report also considers key trends that will impact the industry and profiles over 10 leading suppliers of Occupancy Sensors Market. Some of the top companies mentioned in the report are Eaton Corporation (U.S.), Honeywell International (U.S.), General Electric (U.S.), Schneider Electric (France), Texas Instruments (U.S.), and among others.
What the report offers
1. Market Definition for Occupancy Sensors along with identification of key drivers and restraints for the market.
2. Market analysis for the Occupancy Sensors Market, with region specific assessments and competition analysis on regional scale.
3. Identification of factors instrumental in changing the market scenarios, rising prospective opportunities and identification of key companies which can influence the market on a regional scale.
4. Extensively researched competitive landscape section with profiles of major companies along with their strategic initiatives and market shares.
5. Identification and analysis of the Macro and Micro factors that affect the Global Occupancy Sensors market on a regional scale.
6. A comprehensive list of key market players along with the analysis of their current strategic interests and key financial information.
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