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Increasing Demand for Occupancy Sensor Market by 2025

The occupancy sensor market is projected to reach USD 3.6 billion by 2025 from USD 2.9 billion in 2020; it is expected to grow at a CAGR of 13.3% during the forecast period. The growth of the occupancy sensor market is driven by factors such as increasing need for energy-efficient lighting controls and the growing popularity of smart homes. On the other hand, the rising trend of green buildings across the world is among the major factors that are likely to create growth opportunities for the market.

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Increasing Demand for Occupancy Sensor Market by 2025

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  1. MarketsandMarkets Presents Increasing Demand for Occupancy Sensor Market by 2025 Occupancy Sensor Market with COVID-19 Impact Analysis by Technology (PIR, Ultrasonic, Dual), Network Connectivity (Wired & Wireless), Coverage Area, Application, Building Type (Residential, Commercial) and Geography - Global Forecast to 2025 http://www.marketsandmarkets.com/Market-Reports/occupancy-sensor-market-3859894.html

  2. The occupancy sensor market is projected to reach USD 3.6 billion by 2025 from USD 2.9 billion in 2020; it is expected to grow at a CAGR of 13.3% during the forecast period. The growth of the occupancy sensor market is driven by factors such as increasing need for energy-efficient lighting controls and the growing popularity of smart homes. On the other hand, the rising trend of green buildings across the world is among the major factors that are likely to create growth opportunities for the market. The passive infrared-based occupancy sensors accounted for the largest share of occupancy sensor market in 2019. These sensors are affordable and consume lower power than the other two technologies, which makes more it suitable for wireless network connectivity. Browse 145 market data Tables and 65 Figures spread through 204 Pages and in-depth TOC on "Occupancy Sensor Market with COVID-19 Impact Analysis - Global Forecast to 2025"

  3. The occupancy sensor market for 180–360° coverage area is expected to account for the highest share during the forecast period. There is a strong demand for higher coverage area occupancy sensors as a single occupancy sensor can be installed in large rooms such as large office floors, conference rooms, and classrooms, whereas 89° and 90–179° coverage area-based sensors are used mostly in smaller spaces due to their limited field of view. Ask PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=3859894 The occupancy sensor market for residential building type is expected to grow at the highest CAGR during the forecast period. In the current market scenario, most house owners prefer their residences to be installed with the latest technologies, which also help them manage energy usage and minimize the cost. Moreover, growing awareness regarding home automation and smart homes among occupants are expected to drive the occupancy sensor market for residential buildings.

  4. North America led the global occupancy sensors market in 2019. The demand for occupancy sensors in North America for commercial and residential buildings is more than other geographies. This demand is attributed to the value chain for the occupancy sensors market being well-organized and well-managed in the region. The US continues to remain the largest market for occupancy sensors across the region. The occupancy sensor market in the US is primarily driven by supportive government plans and the presence of key players in the country, along with their offerings. Request Free Sample Pages: https://www.marketsandmarkets.com/requestsampleNew.asp?id=3859894 Legrand (France), Schneider Electric (France), Eaton (Ireland), Johnson Controls (US), Signify (Netherlands), Actuity Brands (US), Leviton Manufacturing (US), Lutron Electronics (US), Honeywell (US), Hubbell Incorporated (US), Texas Instruments (US), OSRAM LICHIT AG (Germany), SIEMENS (Germany),  Alan Manufacturing (US), Enerlites (US), Functional Devices (US), Crestron Electronics (US), Hager Group (Germany), Brück Electronic (Germany), and Pyrotech- Tempsens Group (India) are among the major companies operating in the occupancy sensors market.

  5. Impact of COVID-19 on Occupancy Sensor Market: The US and China—the worst COVID-19-affected nations—are among the largest technology providers in the world. The supply chain has been disrupted massively due to the outbreak of COVID-19 in these countries. Lockdowns and inter-country travel restrictions have put limitations on the supply of raw materials and finished products to a large extent. The electronics industry has been significantly impacted by the temporary shutdown of manufacturing plants and transport; this will also have an indirect impact on the demand for technologies used. The COVID-19 pandemic has prompted different countries to undertake strict measures and regulations, such as the prohibition on the movements of vehicles and people and the withdrawal of non-essential transportation. These rules and regulations are expected to affect the execution of ongoing construction projects where automation devices were set to install. Upgrade projects, wherein automation systems were likely to be installed, have also been stalled due to delays in delivery of products. Also, the initiation of planned projects could be postponed.

  6. 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 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 markets.

  7. Contact Us Contact: Mr. Aashish Mehra MarketsandMarkets™ INC. 630 Dundee Road Suite 430 Northbrook, IL 60062 USA : 1-888-600-6441 For More Info: https://www.marketsandmarkets.com/PressReleases/occupancy-sensor.asp

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