North America Occupancy Sensors Market - By Type (Wireless, Wired), Technology (Ultrasonic, Passive Infrared, Microwave), Application, Geography, Trends, Forecast - (2017 - 2022)
The North America Occupany Sensors market is valued at USD 0.815 billion in 2016 and is expected to reach a value of USD 2.54 billion by the end of 2022, growing at a projected CAGR of 20.92% during the forecast period of 2017 – 2022. Occupancy sensors have gone through several technological advancements since their development due to the continuous demand in the market for energy saving devices.
The increasing demand for energy-efficient devices and favorable government policies regarding energy saving are the two major driving factors for occupancy sensors market. There is a great potential to reduce the energy consumption by mounting occupancy sensors in buildings. The rising construction in the real estate sector is another major driver for the occupancy sensors market.
The growth of this market is currently hindered by the false triggering of the switch by sensors and incompatibility issues with regards to wireless network systems. Latest advancements in occupancy sensors such as image processing occupancy sensor (IPOS), intelligent occupancy sensor (IOS), and microphonics in the manufacturing of occupancy sensors have led to an increase in the market share of these sensors in a variety of fields.
The key applications of occupancy sensors are in residential, commercial, educational, healthcare, retail, and hospitality buildings. Occupancy sensors are most widely used in residential and commercial buildings due to the massive growth in the construction sector in various regions across the globe. Technology has a major role to play in this sector due to the cost effective matrix and results in a longer life cycle of products and systems, along with greater reliability.
North America accounted for 38% of the market, the highest in 2014. North America\'s occupancy sensors market is segmented on the basis of type (wired & wireless), technology (passive infrared and microwave), and industry (residential, offices, hotels, healthcare, educational, and others).
The North America Occupany Sensors market report gives a detailed 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. The report also covers the market landscape of these players, which includes the key growth strategies and competition analysis.
The key trends that impact the industry are also covered and over 10 leading suppliers of the occupancy sensors market are profiled. Some of the top companies mentioned in the report are: Eaton Corporation (U.S.) Honeywell International (U.S.) General Electric (U.S.) Schneider Electric (France) Texas Instruments (U.S.)
What the Report Offers
Market definition for North America's occupancy sensors along with the identification of key drivers and restraints for the market. Market analysis for North America's occupancy sensors market, with region-specific assessments and competition analysis on a regional scale. Identification of factors instrumental in changing the market scenario, rising prospective opportunities, and identification of key companies that can influence the market on a regional scale.
Extensively researched competitive landscape section with profiles of major companies along with their strategic initiatives and market share. Identification and analysis of the macro and micro factors that affect North America's occupancy sensors market on a regional scale. A comprehensive list of key market players along with the analysis of their current strategic interests and key financial information.
Published By: Mordor Intelligence
Published Date: Q1 2017