Market Size of Wireless Occupancy Sensors Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | 18.30 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Wireless Occupancy Sensors Market Analysis
The wireless occupancy sensors market is expected to register a CAGR of 18.3% over the forecast period (2021 - 2026). Energy-saving has been crucial for growth in any economy, as a result, the government is also coming with several policies to save energy, which will drive the market in the forecast period.
- The rising demand for energy-efficient devices is expected to drive the market. Wireless occupancy sensors play a vital role in reducing energy consumption. This is achieved through the sensors, which shuts down devices and other equipment on the basis of occupancy. These sensors help in reducing light pollution and they can be used for indoor and outdoor spaces.
- The demand for passive infrared is expected to continue in the future, due to the low cost, demand for energy-efficient devices, and less power requirement. It has a range of applications, such as lighting, spectrometers, gas, and fire detection systems, etc.
- Some of the major benefits of passive infrared sensors are accurate movement detection, reliable triggering, and cost-efficiency. Vending machine designers, for example, are now incorporating PIR sensors into their products so that their displays only light up when someone is standing in front of the unit or maybe waving their hand in front of a panel, which saves on operating costs.
- However, due to the false triggering of switch and inconsistency issues associated with wireless network system are anticipated to decrease the market growth during the forecast period.
