The global occupancy sensor market exhibited strong growth during 2015-2020. Looking forward, the market expects to grow at a CAGR of 15.5% during (2021-2026), according to the latest report by IMARC Group.
(MENAFN - America News Hour) Wireless sensors are the sensors that shut off devices, lights, and other equipment when not in use. Occupancy sensors have a vital role to play in reducing the consumption of energy and light pollution in buildings, offices, restrooms, and various other places. It is a significant development in the sensors market as it saves energy and makes life convenient and easier. Energy saving has been a crucial for growth in any economy, as a result government is also coming with several policies to save energy.
Further, the market scenario is highly competitive with the advancement of technology. This has led to huge R & D investments in this field, which results the market to gain traction. It also provides a solution for conventional wired occupancy sensors in which a customer has to deal with complex installation procedure.