Market barriers include costs, pricing, and regulatory concerns
BOULDER, Colo., March 19, 2024 /PRNewswire/ — A new report from Guidehouse Insights assesses the market for occupancy sensing technologies, globally.
Occupancy sensing technologies have a long history of helping organizations save money and reduce energy use and carbon emissions. The most established application is for lighting when occupancy sensors turn off lights when no one is present. Many building automation systems (BAS) can maintain a suitable level of comfort and efficiency with less power when they have accurate information on whether people are present in the served area, and how many. According to a new report from Guidehouse Insights, the occupancy sensing market is expected to grow from $6.6 billion in 2024 to $10.9 billion in 2033, at a compound annual growth rate (CAGR) of 5.7%.
Applications that are growing include using occupancy data to improve space planning for desk hoteling and to help buildings optimize maintenance schedules, such as cleaning restrooms based on actual usage. Also, accurate occupancy information is central to the performance of building access and security systems that allow, restrict, and monitor employee access in a facility’s sensitive areas.
“The sensors’ primary application is to avoid operating lights in vacant spaces, but they can have many other use cases in building, where they could help avoid unnecessary costs without affecting tenant comfort,” says Willliam Hughes, principal research analyst with Guidehouse Insights. “The revenue associated with these use cases is experiencing modest growth, but the sensors still face several barriers to faster adoption.”
Tying occupancy data from the various BAS into a consolidated occupancy system would enable a building to synchronize its BAS to offer tenants better service through the building management system (BMS). Such coordination could lower energy consumed by the building, and the respective BAS could coordinate to anticipate requests for service. This scenario is possible today, but rarely implemented, as most occupancy systems are used in BAS siloes. Unfortunately, this slow growth seems likely to continue for the time being, according to the report.
The report, Occupancy Sensing, analyzes the global market for occupancy systems for commercial buildings. It provides an analysis of the market issues, including business cases, opportunities, sales channels, and implementation challenges associated with implementing occupancy sensor applications. Global market analyses, which are provided for revenue, broken out by application, and by region, extend through 2033. The report also examines the key technologies related to occupancy systems and the competitive landscape. An executive summary of the report is available for free download on the Guidehouse Insights website.
About Guidehouse Insights
Guidehouse Insights, the dedicated market intelligence arm of Guidehouse, provides research, data, and benchmarking services for today’s rapidly changing and highly regulated industries. Our insights are built on in-depth analysis of global clean technology markets. The team’s research methodology combines supply-side industry analysis, end-user primary research, and demand assessment, paired with a deep examination of technology trends, to provide a comprehensive view of emerging resilient infrastructure systems. Additional information about Guidehouse Insights can be found at www.guidehouseinsights.com.
About Guidehouse
Guidehouse is a leading global provider of consulting services to the public sector and commercial markets, with broad capabilities in management, technology, and risk consulting. By combining our public and private sector expertise, we help clients address their most complex challenges and navigate significant regulatory pressures focusing on transformational change, business resiliency, and technology-driven innovation. Across a range of advisory, consulting, outsourcing, and digital services, we create scalable, innovative solutions that help our clients outwit complexity and position them for future growth and success. The company has more than 16,000 professionals in over 55 locations globally. Guidehouse is led by seasoned professionals with proven and diverse expertise in traditional and emerging technologies, markets, and agenda-setting issues driving national and global economies. For more information, please visit www.guidehouse.com.
* The information contained in this press release concerning the report, Occupancy Sensing, is a summary and reflects the current expectations of Guidehouse Insights based on market data and trend analysis. Market predictions and expectations are inherently uncertain and actual results may differ materially from those contained in this press release or the report. Please refer to the full report for a complete understanding of the assumptions underlying the report’s conclusions and the methodologies used to create the report. Neither Guidehouse Insights nor Guidehouse undertakes any obligation to update any of the information contained in this press release or the report.
For more information, contact:
Cecile Fradkin for Guidehouse Insights
+1.646.941.9139
[email protected]
SOURCE Guidehouse Insights
