Occupancy Sensor Market and its key opportunities and challenges

The occupancy sensor market is projected to grow from USD 2.2 billion in 2019 to USD 3.9 billion by 2024 at a CAGR of 12.3% as per a report by MarketsandMarkets.

https://www.marketsandmarkets.com/Market-Reports/occupancy-sensor-market-3859894%20.html

Why expected incorporation of lighting controllers with in-built data connectivity technology to throw new opportunities in this market?
The lighting control market has seen significant growth in the past few years. The market includes a considerable number of products including dimmers, occupancy sensors, timers, daylight sensors, and relays. These products are used either independently or in an integrated form. They can be integrated with home automation systems through wired and wireless technologies. To enable their automated operations, lighting controllers have to be externally integrated with communication protocols. However, lighting control manufacturers are now manufacturing products with in-built data connectivity. These controllers can be operated directly without external communication protocols and connectivity. This is expected to create considerable demand for such products, which would, in turn, create an opportunity for occupancy sensor manufacturers.

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Is lack of awareness regarding benefits of occupancy sensors to pose key challenge?
In spite of widespread promotion, the development of occupancy sensors is lower than other lighting technologies such as motion sensor and vacancy sensor. It suffers from the difficulty of accurately predicting the occupancy of the occupant. The performance of an occupancy sensor is dependent on user occupancy, lighting control patterns, and sensor selection. Additionally, it is also considered to be expensive, and the awareness regarding cost-related benefits of occupancy sensors is low. This acts as a challenge for the occupancy sensor market as it affects the penetration rate in developing and underdeveloped economies.
However, with the emphasis from government and increasing awareness regarding energy saving, it is expected to lead consumers toward adopting and implementing occupancy sensors by 2020. This implementation can either be at commercial buildings or residential buildings and thus, it would increase the adoption of occupancy sensors from 2015 to 2020.

Inconsistency issues related to wireless network systems
Connecting an occupancy sensor with other control systems such as lighting control systems and HVAC control systems occasionally creates problems. This is mainly due to incompatibility issues when an occupancy sensor working on certain wireless protocol is connected to a lighting and HVAC control system working on another wireless protocol. For instance, if an internet-enabled system uses ZigBee technology to communicate with smart control systems and if all the lighting devices are connected to a common network, then the entire network needs to be integrated with a similar wireless technology that is compatible. It has been observed that the lighting industry, at present, lacks a unified approach when it comes to wireless connectivity.

Mr. Shelly Singh
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MarketsandMarkets(TM) 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(TM) for their painpoints around revenues decisions.

This release was published on openPR.