Enjoy complimentary customisation on priority with our Enterprise License!
The wired occupancy sensors market share is expected to increase by USD 1.39 billion from 2021 to 2026, at a CAGR of 7.03%.
This wired occupancy sensors market research report provides valuable insights on the post-COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers wired occupancy sensors market segmentations by application (hotels, residential, corporate offices, and others) and geography (North America, Europe, APAC, Middle East and Africa, and South America). The wired occupancy sensors market report also offers information on several market vendors, including Acuity Brands Inc., Alan Manufacturing Inc., BLP Technologies Inc., Crestron Electronics Inc., Eaton Corp. Plc, Honeywell International Inc., Hubbell Inc., Intelligent Lighting Controls Inc., IR TEC International Ltd., Johnson Controls International Plc, Koninklijke Philips NV, Legrand SA, Leviton Manufacturing Co. Inc., Lutron Electronics Co. Inc., Omicron Sensing LLC, Schneider Electric SE, Signify NV, Steinel America Inc., TALOSYS INC., and Telkonet Inc. among others.
Download the Free Report Sample to Unlock the Wired Occupancy Sensors Market Size for the Forecast Period and Other Important Statistics
The rise in global construction and infrastructure development activities is notably driving the wired occupancy sensors market growth, although factors such as high costs of installation and maintenance may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the wired occupancy sensors industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.
Key Wired Occupancy Sensors Market Driver
The rise in global construction and infrastructure development activities is one of the key drivers supporting the wired occupancy sensors market growth. The growing demand for public infrastructure in emerging economies, such as India and China, is contributing to the growth of the construction industry in these economies. Many new hospitals, educational institutions, stadiums, indoor sports complexes, malls, and mega shopping centers have been built in the past few years because of the growing population and the increasing per capita income of individuals. Hence, it will further drive the market growth due to its efficiency to reduce energy wastage which further results in the decreasing operational cost. Thus, these construction and infrastructure development activities are expected to raise the demand exponentially for wired occupancy sensors during the forecast period.
Key Wired Occupancy Sensors Market Trend
Rising construction in the real estate sector is one of the key wired occupancy sensors market trends that is contributing to the market growth. Energy-saving has become crucial for the development of any economy as a result, the government in several nations is taking initiatives to save as much energy as they can. Wired occupancy sensors when combined with other technology and efficient lighting, can help to save up to 30% of the electricity. Moreover, the rising adoption of wired occupancy sensors in public buildings such as hospitals, railway stations, parks, airports, and residential buildings is further boosting the demand for wired occupancy sensors. Thus, the bourgeoning construction activities across the world would further drive market growth in the forecast period.
Key Wired Occupancy Sensors Market Challenge
High costs of installation and maintenance is one of the factors hindering the wired occupancy sensors market growth. The installation of the wired occupancy sensors requires several hardware components, including sensors, communication devices, and control systems, in addition to the software. Thus, the increased overall cost of these systems restricts their installation, thus impacting the wired occupancy sensors market growth. Furthermore, the effectiveness of such sensors depends on facing angles and mounted locations since the sensors require large vertical and horizontal clearances. Wired occupancy sensor sensors need flat surfaces as any obstacles may lead to errors. Thus, such high costs impede the widespread distribution and adoption of wired occupancy sensors which restrict the market growth.
This wired occupancy sensors market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.
Technavio categorizes the global wired occupancy sensors market as a part of the global electronic equipment and instruments market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the wired occupancy sensors market during the forecast period.
The report analyzes the market's competitive landscape and offers information on several market vendors, including:
This statistical study of the wired occupancy sensors market encompasses successful business strategies deployed by the key vendors. The wired occupancy sensors market is fragmented and the vendors are organic and inorganic deploying growth strategies to compete in the market.
To make the most of the opportunities and recover from post-COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
The wired occupancy sensors market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.
Our report provides extensive information on the value chain analysis for the wired occupancy sensors market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.
For more insights on the market share of various regions Request for a FREE sample now!
35% of the market's growth will originate from North America during the forecast period. The US is the key market for wired occupancy sensors market in North America. Market growth in this region will be slower than the growth of the market in APAC.
The growing demand for HVAC systems will facilitate the wired occupancy sensors market growth in North America over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.
To gain further insights on the market contribution of various segments Request for a FREE sample
The wired occupancy sensors market share growth by the hotel segment will be significant during the forecast period. The demand for accommodating hotels is surging, and with increasing hotel construction, the growth of the segment is expected during the forecast period. Furthermore, most visitors forget to turn off the lights in rooms when not in use. Therefore, to address such issues, hotels are adopting occupancy sensors especially wired, due to their long durability and high efficiency compared to wireless sensors in rooms, washrooms, and lobby areas. So when a person enters a room, the light will turn on automatically, and it will turn off simultaneously as the person moves out of the room. This further helps in the reduction of the hotel electricity bill and also decreases energy wastage. Hence, These factors would increase the adoption of wired occupancy sensors and thereby drive the market growth.
This report provides an accurate prediction of the contribution of all the segments to the growth of the wired occupancy sensors market size and actionable market insights on post-COVID-19 impact on each segment.
Wired Occupancy Sensors Market Scope |
|
Report Coverage |
Details |
Page number |
120 |
Base year |
2021 |
Forecast period |
2022-2026 |
Growth momentum & CAGR |
Decelerate at a CAGR of 7.03% |
Market growth 2022-2026 |
$ 1.39 billion |
Market structure |
Fragmented |
YoY growth (%) |
8.09 |
Regional analysis |
North America, Europe, APAC, Middle East and Africa, and South America |
Performing market contribution |
North America at 35% |
Key consumer countries |
US, China, UK, Germany, and France |
Competitive landscape |
Leading companies, Competitive strategies, Consumer engagement scope |
Key companies profiled |
Acuity Brands Inc., Alan Manufacturing Inc., BLP Technologies Inc., Crestron Electronics Inc., Eaton Corp. Plc, Honeywell International Inc., Hubbell Inc., Intelligent Lighting Controls Inc., IR TEC International Ltd., Johnson Controls International Plc, Koninklijke Philips NV, Legrand SA, Leviton Manufacturing Co. Inc., Lutron Electronics Co. Inc., Omicron Sensing LLC, Schneider Electric SE, Signify NV, Steinel America Inc., TALOSYS INC., and Telkonet Inc. |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period. |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this report to meet your requirements. Get in touch
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Five Forces Analysis
5 Market Segmentation by Application
6 Customer Landscape
7 Geographic Landscape
8 Drivers, Challenges, and Trends
9 Vendor Landscape
10 Vendor Analysis
11 Appendix
Get lifetime access to our
Technavio Insights
Cookie Policy
The Site uses cookies to record users' preferences in relation to the functionality of accessibility. We, our Affiliates, and our Vendors may store and access cookies on a device, and process personal data including unique identifiers sent by a device, to personalise content, tailor, and report on advertising and to analyse our traffic. By clicking “I’m fine with this”, you are allowing the use of these cookies. Please refer to the help guide of your browser for further information on cookies, including how to disable them. Review our Privacy & Cookie Notice.