Occupancy Sensors Market to surpass USD 7.5 Billion by 2032, Says Global Market Insights inc.
Occupancy Sensors Industry size is expected to register 14% CAGR between 2024 and 2032 propelled by increasing need for energy-efficient solutions.
Selbyville, Delaware, Sept. 05, 2024 (GLOBE NEWSWIRE) — Occupancy Sensors Market is projected to exceed USD 7.5 billion by 2032, as per a
Europe to come up as market leader
Europe Occupancy sensors market will gain traction through 2032, driven by the region’s commitment to energy efficiency and smart building technologies. European countries are implementing regulations and standards aimed at reducing energy consumption and promoting sustainable practices. This regulatory environment is fostering the adoption of advanced occupancy sensors across various applications, including residential, commercial, and industrial sectors. The European market is characterized by a diverse range of applications and innovations in occupancy sensors. Countries such as Germany, France, and the United Kingdom are leading the charge with significant investments in smart building projects and energy management systems.
Occupancy Sensors Market Players
Major companies in the Occupancy Sensors industry include, Honeywell International Inc., Schneider Electric, Johnson Controls International plc, Siemens AG, Legrand SA, Lutron Electronics Co., Inc., Eaton Corporation, ABB Ltd. They are expanding product portfolios to incorporate advanced technologies such as microwave and ultrasonic sensors, which offer enhanced performance and versatility. Companies are also focusing on strategic partnerships and collaborations with technology providers and building management systems integrators to enhance their market reach and integration capabilities. Additionally, significant investments in research and development are being made to drive innovation and improve sensor accuracy, efficiency, and connectivity. Another key strategy involves targeting new geographical regions and vertical markets, including residential, commercial, and industrial applications, to diversify their customer base and capture a larger market share.
In April 2024, Novelda announced the showcase of its new seat occupancy detection feature for the X7 UWB In-Cabin Sensor. The X7, known for presence detection, CPD, and vital signs monitoring, now adds seat occupancy through a software update, providing a reliable, cost-effective solution for car cabins.
About Global Market Insights
Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.
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