Wired Occupancy Sensors Market Forecasts to 2028 – Global Analysis By Building Type (Commercial Buildings and Residential Buildings), Application (Security surveillance, Lighting control and HVAC), End User and By Geography

Wired Occupancy Sensors Market Forecasts to 2028 – Global Analysis By Building Type (Commercial Buildings and Residential Buildings), Application (Security surveillance, Lighting control and HVAC), End User and By Geography

According to Stratistics MRC, the Global Wired Occupancy Sensors Market is accounted for $1.51 billion in 2022 and is expected to reach $2.54 billion by 2028 growing at a CAGR of 9.03% during the forecast period. Wireless occupancy sensors are crucial in lowering energy use. This is frequently accomplished by sensors, which shut down gadgets and other equipment based on occupancy. These sensors can help reduce light pollution and can be utilised in both indoor and outdoor settings. Occupancy sensors serve a critical role in lowering energy consumption and pollution in buildings, businesses, bathrooms, and other locations. Because it is lightweight, it saves energy and makes life more convenient and accessible.

According to Energy Solutions, energy consumption and wastage at hotels are one of the significant concerns, representing 3% to 6% of hotel operating costs and accounting for approximately 60% of its CO2 emissions.

Market Dynamics:

Driver:

The rise in global construction and infrastructure development activities

The increased need for public infrastructure in emerging economies such as India and China is boosting the construction industry in these countries. Because of the growing population and rising per capita incomes, many new structures for diverse purposes have been constructed in recent years. As a result of its efficiency in reducing energy waste, it will continue to drive market growth. Thus, during the projection period, these building and infrastructure development activities are predicted to dramatically increase demand for wired occupancy sensors.

Restraint:

Erroneous triggering

One of the main obstacles to the market's expansion has been erroneous activation of an occupancy sensor switch. Any movement in the space makes sensors more prone to false triggering. Because they are sensitive to all types of motion, they react to non-occupant movement as well. Sunlight, someone passing through nearby regions in the sensor's view, or any machinery that heats up objects can all cause false triggering. Sensors are also ineffective if the office is partitioned. Constant sensor on-off shortens the life of lighting systems and related components.

Opportunity:

Rising construction in the real estate sector

Energy conservation has become critical for the development of any economy; as a result, governments in numerous countries are taking steps to preserve as much energy as possible. When paired with other technology and efficient lighting, wired occupancy sensors can assist save up to 30% of the electricity. Furthermore, the growing use of wired occupancy sensors in public buildings is driving increased demand for wired occupancy sensors. Thus, the expanding building activity around the world will fuel market expansion during the forecast period.

Threat:

High costs of installation and maintenance

The installation of wired occupancy sensors necessitates the use of numerous hardware components, including sensors, communication devices, and control systems, in addition to the software. As a result, the increasing overall cost of these systems limits their installation, affecting the growth of the wired occupancy sensors market. Furthermore, the efficiency of such sensors is dependent on facing angles and mounting positions, as the sensors require substantial vertical and horizontal clearances. As a result of such high costs, widespread distribution and acceptance of wired occupancy sensors is hampered, limiting market growth.

Covid-19 Impact

COVID-19 is a novel global public health problem that has damaged virtually every firm, and its long-term consequences are projected to have an impact on industry growth in the coming years. The outbreak of COVID-19 in numerous countries has had a significant impact on the supply chain. Lockdowns and inter-country travel restrictions have severely affected the delivery of raw materials and finished products. The temporary shutdown of production plants and transportation has had a significant impact on the electronics industry; this will also have an indirect impact on demand for technology deployed.

The residential buildings segment is expected to be the largest during the forecast period

The residential buildings segment is estimated to have a lucrative growth, owing to the increasing demand for surveillance and security systems. The most recent technology plays an important part in assisting homeowners in managing their energy use, lowering expenditures, and maintaining a green atmosphere in their homes. Due to home automation trends and a desire to decrease electricity bills, people are increasingly installing occupancy sensors in their residences. Home automation technology is becoming more popular in residences as disposable income grows. Furthermore, as people become more conscious of smart homes and automation, the need for occupancy sensors in residential buildings is likely to increase.

The HVAC segment is expected to have the highest CAGR during the forecast period

The HVAC segment is anticipated to witness the highest CAGR growth during the forecast period. Heating, ventilation, and air conditioning (HVAC) systems are now typical in most commercial buildings, including offices and hospitality organisations. Because HVAC systems consume more power or energy than lighting systems, reducing energy consumption is one of the key goals of installing occupancy sensors. Occupancy sensors can greatly reduce electricity and running costs. The growing demand for energy-efficient sensing systems to keep building occupants comfortable and safe is propelling the Wireless occupancy sensor market.

Region with highest share:

North America is projected to hold the largest market share during the forecast period owing to the better funding in innovations and advancements in occupancy sensors like image processing occupancy sensor (IPOS), intelligent occupancy sensor (IOS), and microphonics. The USA is leading the regional market because of development in various sectors, like commercial and residential. The expansion of wireless network infrastructure is driving the expansion of home automation, which aids the growth of this regional wireless occupancy sensor market. Similarly, rising demand for HVAC systems in the United States is expected to play a significant role in market expansion.

Region with highest CAGR:

Europe is projected to have the highest CAGR over the forecast period. One of the primary drivers of this expansion is government support. Europe has profited considerably from increased construction activity, which has contributed to the market's growth in occupancy sensor sales. Home automation and smart lighting are projected to gain traction in Europe, fuelled by considerable activity in the smart home area in the United Kingdom. Wireless occupancy sensors will also be in high demand due to their ease of interaction with other wireless controllers, devices, and networks in this region.

Key players in the market

Some of the key players profiled in the Wired Occupancy Sensors Market include Acuity Brands Inc., Lutron Electronics Co. Inc., Omicron Sensing LLC, Schneider Electric SE, Eaton Corp. Plc, Honeywell International Inc., BLP Technologies Inc., Crestron Electronics Inc., Signify NV, Steinel America Inc., Koninklijke Philips NV, Legrand SA, Leviton Manufacturing Co. Inc., IR TEC International Ltd., Johnson Controls International Plc, Alan Manufacturing Inc., Hubbell Inc., Intelligent Lighting Controls Inc., TALOSYS INC. and Telkonet Inc.

Key Developments:

In April 2023, French electricals major Legrand, which has grown in India through five acquisitions over the past 25 years, is keen for more buyouts and is also doubling down on investments this year as it seeks to make India a sourcing hub for the group, according to a top company official.

In January 2022, Johnson Controls has acquired Foghorn, strengthening its position as a pioneer in smart and autonomous buildings. By integrating Foghorn's industry-leading Edge AI platform throughout Open Blue, Johnson Controls will be able to expedite its innovation and ambition for Smart Autonomous Buildings.

Building Types Covered:
• Commercial Buildings
• Residential Buildings

Applications Covered:
• Security surveillance
• Lighting control
• HVAC

End Users Covered:
• Aerospace and Defence
• Consumer electronics
• Healthcare
• Industrial
• Other End Users

Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan
o China
o India
o Australia
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o UAE
o Qatar
o South Africa
o Rest of Middle East & Africa

What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2020, 2021, 2022, 2025, and 2028
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements