Market Size of US Occupancy Sensors Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | 14.50 % |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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US Occupancy Sensors Market Analysis
The United States Occupancy Sensors Market is expected to register a CAGR of 14.5% during the forecast period, 2021-2026. Smart building technology and occupancy sensors can provide real-time data, allowing to make better decisions for building management under the new guidelines of COVID-19. Whether saving space or improving hygiene, occupancy IoT sensors can help mobilize and optimize the back-to-work process.
- One of the major driving factors for the expansion of occupancy sensors is the trend of urbanization. There is a growing demand for energy efficiency across homes and offices. According to the United Nations Department of Economic and Social Affairs, 68% of the population will be living in cities by 2050, which will augment sustainable energy use.
- The rising demand for energy-efficient devices is expected to drive the country. Occupancy sensors play a vital role in reducing energy consumption. This is achieved through the sensors, which shut down devices and other equipment based on occupancy. These sensors help reduce light pollution and can be used for indoor and outdoor spaces.
- The demand for passive infrared is expected to continue in the country 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. Some of the significant benefits of passive infrared sensors are accurate movement detection, reliable triggering, and cost-efficiency. Vending machine designers, for instance, 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.
- Partnerships and entry by global players into the country are also expected to shape the market landscape in the future. Recently, Austria-based Loxone entered the US market with a smart home automation control offering that features more than 150 SKUs of products, including occupancy sensors, temperature and humidity sensors.
