The Inclination Towards Energy Saving Methods with Growing Adoption of Energy Efficient Devices is Driving Growth of Wired Occupancy Sensors Market

Published: February, 2024
| Semiconductor and Electronics

The inclination towards energy saving methods with growing adoption of energy efficient devices is driving the market growth. However, inclination towards manual operator for light control is restraining the market growth. The increasing investment in smart & green buildings and strong backing from the governments for sustainable goals expected to offer several opportunities for the market stakeholders. On the other hand, lack of awareness about its benefits and alternate cost-effective ways expected to challenge the market growth during the forecast period.

Based on technology, the ultrasonic segment captures a significant share of the wired occupancy sensors market in 2023. Ultrasonic sensors are highly sensitive to minute movements and changes in the environment. They can detect even subtle motions, making them effective in capturing occupancy in different spaces. With a fast response time, they can quickly detect motion and trigger a response, ensuring that connected systems, such as lighting or HVAC controls, react promptly to changes in occupancy.

Based on application, the HVAC segment is expected to grow with a significant CAGR during the forecast period, pertaining to the 5%–15% HVAC energy savings from a building. Occupancy sensors enable HVAC systems to operate only when needed. When a space is unoccupied, the sensor can signal the HVAC system to reduce or suspend heating or cooling operations, leading to significant energy savings. Occupancy sensors can be integrated into a broader building management system (BMS). Thereby, allowing centralized monitoring and control of HVAC systems. Thus, improving overall system efficiency, and energy saving.

The Asia-Pacific is poised to experience substantial growth during the forecast period, fueled by a rise in investments in smart cities, smart homes, and Industry 4.0 initiatives. Regional countries have charted policies for promoting green building. For instance, India has been actively promoting green building initiatives and providing various incentives to encourage sustainable and environmentally friendly construction practices. The Indian government offers tax benefits to developers of LEED-certified buildings through the Income Tax Act. Developers can claim up to 100% depreciation on the cost of green building assets, such as solar panels, rainwater harvesting systems and waste management systems. A strong backing from the government has promoted the adoption of occupancy sensor in green buildings for sustainability.

Source: Intent Market Research Analysis

Key players operating in the global wired occupancy sensors market are Acuity Brands, Cooper Lighting, Eaton, General Electric, Honeywell, Philips, Legrand, Leviton Manufacturing, Johnson Controls, Schneider Electric, Texas Instruments, among others. Some of the recent developments are

•           In September 2022, Leviton announced the introduction of its new LED downlight with motion sensor, which features a modern aesthetic, superior performance, and offers a wide range of customizable light settings.

•           In February 2022, Acuity Brands launched Lithonia Lighting Homeguard Motion Sensor LED security floodlight (HGX MO). It features a wider and denser coverage pattern of 200° field of view and eliminates blind spots commonly found underneath motion sensors.

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