LONDON, April 6, 2016 /PRNewswire/ -- "The increasing demand for energy-efficient devices would drive the occupancy sensor market"
The occupancy sensor market size is estimated to grow from USD 1.14 billion in 2015 to USD 2.78 billion by 2020, at an estimated CAGR of 19.5% between 2015 and 2020. The occupancy sensor market is driven by factors such as the increasing demand for energy-efficient devices, favorable government policies with regards to energy saving, development of more accurate and efficient sensors, and configurable and programmable sensors for HVAC systems. The market has been segmented on the basis of technology, network connectivity, coverage area, building type, operation, application, and geography .
"PIR-based occupancy sensors to gain maximum traction during the forecast period"
The market for passive infrared-based occupancy sensor is estimated to hold the largest share duing the forecast period. Furthermore, owing to rise in energy and power prices on a global basis; occupancy sensor devices are expected to gain traction and grow at the highest CAGR in the next five years. The occupancy sensor market is also expected to witness growth in commercial building types such as office and hospitality buildings contributing the largest market share during the forecast period.
"North America expected to lead the global occupancy sensor market during the forecast period"
The North American market is estimated to hold the major market share between 2015 and 2020. Some of the major reasons behind this are increasing demand for energy-efficient devices and key players located in the region such as Leviton Manufacturing Co. Inc. , Lutron Electronics Co, Inc. Honeywell International, Inc. , Johnson Controls Inc. , General Electric Company , Acuity Brands, Inc. , and Hubbell Incorporated among others. In addition to this, supportive government plans, laws, programs and associations are also one of the major reasons for the growth. The European region is estimated to grow at the highest growth rate between 2015 and 2020.
In the process of determining and verifying the market size for several segments and sub-segments gathered through secondary research, extensive primary interviews were conducted with key people. Break-up of profile of primary participants is given below as:
- By Company Type: Tier 1 – 46 %, Tier 2 – 20% and Tier 3 – 34%
- By Designation: C level – 43%, Director level – 22%, Others – 35%
- By Region: North America – 26%, Europe – 20%, APAC – 18%, RoW – 36%
The various key occupancy sensor vendors profiled in the report are as follows:
1. Legrand S.A.
2. Schneider Electric
3. Acuity Brands, Inc.
4. Leviton Manufacturing Co. Inc.
5. Eaton Corporation plc
6. Lutron Electronics Co, Inc.
7. Johnson Controls Inc.
8. Honeywell International, Inc.
9. General Electric Company
10. Koninklijke Philips N.V.
11. Hubbell Incorporated
The report will help the market leaders/new entrants in this market in the following ways:
1. This report segments the occupancy sensor market comprehensively and provides the closest approximations of the revenue numbers for the overall market and the subsegments across the different verticals, segments and regions.
2. The report helps stakeholders to understand the pulse of the market and provides them information on key market drivers, restraints, challenges, and opportunities.
3. This report will help stakeholders to better understand the competitor and gain more insights to better their position in the business. The competitive landscape section includes competitor ecosystem, newproduct develpoments, partnerships, mergers and acquisitions.
4. It helps to have detailed understanding on 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.
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