Occupancy Sensor Market
The Occupancy Sensor Market is projected to perceive a substantial growth over the forecast period. The growing demand for power effective devices and intensified government norms with regard to energy saving has strengthened the market growth.
Occupancy Sensor Market Dynamics
The growth in the global occupancy sensor market is attributed to the surging demand for surveillance and authentication systems in order to certify public safety. Also, the increasing implementation of camera, video surveillance, and infrastructure has strengthened the occupancy sensor market size. For example, nearly 770 million surveillance cameras were installed around the nation in 2019, with 54% of those in China. The occupancy sensors can efficiently supervise these cameras to direct the video motion detectors. These sensors interpret the video feed for sounds and movements of alarm and detect motion to switch on sounds and light alarm. The Occupancy Sensor market report anticipates that the intensified government initiatives for smart city and smart home have bolstered the market growth. For instance, the Indian government has launched two programmes named ‘Smart Cities Mission’ and ‘Atal’ with an initial investment of nearly US$ 7.513 billion for revitalization of Urban Transformation and the enhancement of 500 existing cities in India. On the other hand, the excessive capital investment required to set up the production facility may restrain the Occupancy Sensor market size.
Product Type Segment Drivers
Based on the region, the Asia-Pacific region seized the highest share in the overall market during 2020 and is anticipated to sustain its dominance over the forecast period. This is because of the existence of sophisticated production facility of the electronic industry. Also, the intensified initiatives for the development of smart city will compel the market growth. Besides this, the Occupancy Sensor market research repot anticipates that the increasing adoption of intelligent devices, such as AI-based instruments, IoT conjectured by the increasing demand for the video surveillance for public protection has elevated the market growth. For instance, China, the largest Internet of Things (IoT) based connected devices with over 1.5 billion global cellular connections with swiftly expanding mobile IoT licensed low-power wide-area network (LPWAN) technologies. Besides this, as per the global Occupancy Sensor market analysis, the North American Region is expanding at an accelerated pace because of the mounting demand for video surveillance with a growing adoption of the connected devices.
About GMI Research
GMI Research is a market research and consulting firm which provides market insights and intelligence across 12 major sectors helping our clients in making effective investment and business decisions.
Company Name: GMI RESEARCH
Contact Person: Sarah Nash
Phone: Europe – +353 1 442 8820; US – +1 860 881 2270
Address: Dublin, Ireland