Occupancy Sensor Market Growing at Compound Annual Growth Rate of 18.36% from 2014 to 2020 to Reach $4.67 Billion - New Report by MarketsandMarkets

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[195 Pages Report] Occupancy sensor market analysis and forecast report categorizes global market by technology (passive infrared, ultrasonic), application (education, healthcare, hospitality, industrial, retail), network (wired, wireless), components, and geography. (http://www.marketsandmarkets.com/Market-Reports/occupancy-sensor-market-3859894.html)

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Leading players in occupancy sensor market are Acuity Brands, Inc. (U.S.), Eaton Corporation Plc. (Ireland), Honeywell International, Inc. (U.S.), Hubbell Inc. (U.S.)

According to a new market research report “Occupancy Sensor Market by technology (passive infrared, ultrasonic), network (wired, wireless), components, application (education, healthcare, hospitality, industrial, retail), and geography - analysis and forecast to 2013 - 2020”, published by MarketsandMarkets, the Occupancy Sensor Market is estimated to reach $4.67 Billion by 2020, growing at a CAGR of 18.36% from 2014 to 2020.

Browse 70 market data Tables and 67 Figures spread through 195 Pages and in-depth TOC on “Occupancy Sensor Market”.
http://www.marketsandmarkets.com/Market-Reports/occupancy-sensor-market-3859894.html

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An occupancy sensor is a lighting module that identifies the presence of people in a specified area and accordingly turns the lights on or off automatically. It uses infrared, ultrasonic or a combination of these technologies for these processes. These sensors help save energy and increase the efficiency with regards to the usage of lights. Recent advancements in occupancy sensors such as image processing occupancy sensor (IPOS), intelligent occupancy sensor (IOS), and micro-phonics in the manufacturing of occupancy sensors made it possible to grab more market share in various fields. The key applications of occupancy sensors are in residential, commercial, educational, healthcare, retail and hospitality buildings. The largest application of occupancy sensors is in residential and commercial buildings due to a massive growth in the construction sector in various regions across the globe. The technology has a major role to play in this sector due to the cost effective matrix, and results into a longer life cycle of products and systems, along with greater reliability. Highlighting features of occupancy sensors include high efficiency, cost, and energy saving.

The major driving factor helping the Occupancy Sensor Market to grow includes an increasing demand for energy efficient devices, favorable government policies regarding energy saving, and development of most accurate and efficient sensors. Restraining factors for the Occupancy Sensor Market includes false triggering of switch by sensors, and incompatibility issues with regards to wireless network systems. A major opportunity with regards to occupancy sensors includes increasing the effectiveness by implementing IPOS.

An occupancy sensor is a lighting and HVAC (Heating, Ventilation and Air Conditioning) control device that detects the presence of people in a defined area and switches lighting and HVAC systems on and off accordingly. Occupancy sensors are being used commercially and now their demand has increased furthermore due to the high energy saving potential they offer. Occupancy sensors have become a significant part of the building automation and construction industry. Occupancy sensors have found their place in major applications in buildings with office, residential, educational, healthcare and hospitality facilities, and other commercial buildings. Occupancy sensors are based on motion detection technologies such as passive infrared (PIR), ultrasonic, and dual technology combining PIR and ultrasonic.

Occupancy sensor suppliers have substantially invested in R&D to develop innovative and technologically advanced occupancy sensors. The accuracy and reliability of sensors is important and therefore, occupancy sensor manufacturers would focus on developing such products. As a result of R&D efforts and combining hardware with software engineering support, recently two new advancements were done in occupancy sensors in the form of image processing occupancy sensor (IPOS) and intelligent occupancy sensor (IOS). IPOS was recently developed by the National Renewable Energy Laboratory (NREL). IPOS offers superior performance in occupancy detection than traditional PIR, ultrasonic and dual occupancy sensors. The IPOS technology combines image sensors with software algorithms. The implementation of a camera may also serve the security- surveillance purpose, resulting in almost 90% accurate occupancy detection and trustworthy security. Many occupancy sensor manufacturers are developing the commercial IPOS that can serve both the needs, that is, security and energy savings. In the future, the IPOS technology is projected to spread its roots in the occupancy sensing market with its high accuracy and differentiated solutions. Early movers in the IPOS technology will be able to hold the dynamic occupancy sensor market.

The overall Occupancy Sensor Market is segmented into five major segments- technology, network, component, application, and geography. All the segments are separately classified in the report. The Occupancy Sensor Market is expected to grow at a CAGR of 18.36% from 2014 to 2020.

Geographically, the Occupancy Sensor Market is segmented into North America (U.S., Canada, and Mexico), Europe (U.K., France, Russia, and others), APAC (China, India, South Korea, and Japan), and Rest of the World (Middle East, South America, and Africa).The North American market accounted for the highest market share of 40.24% in 2013 and is estimated to grow at a CAGR of 17.40% from 2014 to 2020. APAC is the fastest growing market among all geographic regions at a CAGR of 20.45% from 2014 to 2020.

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Scope of the report
•Based on Technology
•Based on Network Connectivity
•Based on Component
•Based on Application
•Based on Geography

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