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Oct 8, 2019 9:38 AM ET

Occupancy Sensor Market and its key opportunities and challenges


iCrowd Newswire - Oct 8, 2019

The occupancy sensor market is projected to grow from USD 2.2 billion in 2019 to USD 3.9 billion by 2024 at a CAGR of 12.3% as per a report by MarketsandMarkets. 

 

Why expected incorporation of lighting controllers with in-built data connectivity technology to throw new opportunities in this market?

 

The lighting control market has seen significant growth in the past few years. The market includes a considerable number of products including dimmers, occupancy sensors, timers, daylight sensors, and relays. These products are used either independently or in an integrated form. They can be integrated with home automation systems through wired and wireless technologies. To enable their automated operations, lighting controllers have to be externally integrated with communication protocols. However, lighting control manufacturers are now manufacturing products with in-built data connectivity. These controllers can be operated directly without external communication protocols and connectivity. This is expected to create considerable demand for such products, which would, in turn, create an opportunity for occupancy sensor manufacturers.

 

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Is lack of awareness regarding benefits of occupancy sensors to pose key challenge?

 

In spite of widespread promotion, the development of occupancy sensors is lower than other lighting technologies such as motion sensor and vacancy sensor. It suffers from the difficulty of accurately predicting the occupancy of the occupant. The performance of an occupancy sensor is dependent on user occupancy, lighting control patterns, and sensor selection. Additionally, it is also considered to be expensive, and the awareness regarding cost-related benefits of occupancy sensors is low. This acts as a challenge for the occupancy sensor market as it affects the penetration rate in developing and underdeveloped economies.

 

However, with the emphasis from government and increasing awareness regarding energy saving, it is expected to lead consumers toward adopting and implementing occupancy sensors by 2020. This implementation can either be at commercial buildings or residential buildings and thus, it would increase the adoption of occupancy sensors from 2015 to 2020.

 

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.

 

Please Explore Relevant Reports:

Smart Home Market by Product (Lighting Control, Security & Access Control, HVAC, Entertainment, Smart Speaker, Home Healthcare, Smart Kitchen, Home Appliances, and Smart Furniture), Software & Services, and Region – Global Forecast to 2024

 

HVAC Controls Market by System (Temperature, Ventilation, Humidity, Integrated Controls), Component (Sensors, and Controllers & Controlled Devices), Implementation Type (New Construction, Retrofit), Application, and Geography – Global Forecast to 2023

 

About MarketsandMarkets™

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

 

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the “Growth Engagement Model – GEM”. The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write “Attack, avoid and defend” strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

 

MarketsandMarkets’s flagship competitive intelligence and market research platform, “Knowledgestore” connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.



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Keywords:    Occupancy Sensor Market, Occupancy Sensor Market Size, Occupancy Sensor Market Share, Occupancy Sensor Market Forecast

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