Lucintel's latest market report analyzed that occupancy sensor provides attractive opportunities in the residential building and commercial building segments. The occupancy sensor market is expected to reach $3.1 billion by 2028 with a CAGR of 14%. In this market, wireless sensor is the largest segment by connectivity, whereas residential building is largest by end use industry.

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Based on connectivity, the occupancy sensor market is segmented into wired and wireless.. The wireless sensor segment accounted for the largest share of the market in 2023 and is expected to register the highest CAGR during the forecast period, due to as these sensors helps in saving energy and light pollution by turning off gadgets and lights based on the occupancy.

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The Occupancy Sensor Market is marked by the presence of several big and small players. Some of the prominent players offering occupancy sensor include Schneider Electric, Eaton, Legrand, Johnson Controls, Honeywell, Siemens, and Texas Instruments.

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