Growth of Occupancy Sensor – Market Insights & Forecast to 2024

According to the new market research report "Occupancy Sensor Market by Technology (PIR, Ultrasonic, Dual), Network Connectivity (Wired & Wireless), Coverage Area (Less than 89°, 90–179°, 180–360°), Application, Building Type (Residential, Commercial) and Geography - Global Forecast to 2024", published by MarketsandMarkets™, the Occupancy Sensor Market is projected to reach USD 3.9 billion by 2024 from USD 2.2 billion in 2019 at a CAGR of 12.3%. 

The increasing demand for energy-efficient devices and government policies towards energy saving are factors driving the growth of the global occupancy sensors market.

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Passive infrared-based occupancy sensors led the occupancy sensor market in 2019.

Passive infrared-based sensors accounted for the largest share of the occupancy sensor market in 2019. The passive infrared-based sensors are ideal and the oldest among the occupancy detection and cheaper as compared with other sensors because of which their adoption is higher than other technologies. Passive infrared-based sensors are utilized widely in places where there are fewer hindrances and interruptions, such as small offices, corridors, and meeting. Moreover, leading players offering passive infrared-based occupancy sensors include Legrand (France), Schneider Electric (France), Johnson Controls (US), and Actuity Brands (US).

Lighting system to account for the largest share of occupancy sensor market by 2019

The lighting system application is expected to lead the occupancy sensors market by 2019. Lighting control is the prime application area of occupancy sensors, and with the help of these sensors, over 60-70% of the costs related to lighting can be saved. Apart from saving energy costs installing occupancy sensors for lighting and HVAC controls, consumers can also minimize installation and maintenance costs, which will help in the adoption of occupancy sensors for lighting system application.

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52 – Figures
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North America to account for the largest share of occupancy sensor market by 2019

North America is expected to lead the occupancy sensor market by 2019. The market in North America is projected to experience an increase in traction during the forecast period due to the presence of several leading players such as Johnson Controls (US), Actuity Brands (US), Leviton Manufacturing (US). The other reasons attributed to the growth include supportive government plans, laws, programs, and associations.

Legrand (France), Schneider Electric (France), Eaton (Ireland), Johnson Controls (US), Signify (Netherlands), Actuity Brands (US), Leviton Manufacturing (US), Lutron Electronics (US), Honeywell (US), Hubbell Incorporated (US), Texas Instruments (US), OSRAM LICHIT AG (Germany), SIEMENS (Germany),  Alan Manufacturing (US), Enerlites (US), Functional Devices (US), Crestron Electronics (US), Hager Group (Germany), Brück Electronic (Germany), and Pyrotech- Tempsens Group (India) are among the major companies operating in the occupancy sensors market.

Growth of Cloud Gaming Market at a CAGR of 59.0% by 2024

According to latest market research report "Cloud Gaming Market by Offering (Infrastructure, Platform Service), Devices (Smartphone, Tablet, Gaming Console, PC & Laptop, Smart TV, HMD), Solution (Video Streaming, File Streaming), Gamer Type (Casual, Avid, Hardcore), Region - Global Forecast to 2024", The global cloud gaming market is estimated to be valued at USD 306 million in 2019 and is projected to reach USD 3,107 million by 2024, at a CAGR of 59.0%. 

The major driving factors are the commercialization of 5G, the rise in a number of gamers, and the upsurge of immersive and competitive gaming on mobile. An increase in the number of internet users is also expected to drive cloud gaming growth during the forecast period.

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Game Platform Service to grow at higher CAGR in cloud gaming market during forecast period

Game platform service is expected to witness the highest growth in the coming years owing to the presence of key market players like Microsoft, Amazon Web Services, and Google. For instance, in March 2019, Google unveiled Stadia, which is a cloud gaming service that enables instant streaming of games on TV, desktop, laptop, tablet, or smartphone and allows users to seamlessly swap between the platforms with the help of wireless controller that connects directly to Google’s cloud.

Gaming console to hold largest size of cloud gaming market in 2019

The gaming console segment will have a major share in the cloud gaming market owing to the extensive and robust distribution network of major players such as Sony and Microsoft. The launch of cloud gaming platforms has rendered console manufacturers with a favorable opportunity to monetize on their existing library of gaming content and augment their product capabilities. These players are primarily employing their cloud gaming platforms to generate recurring revenue streams through their existing gaming users.

Video streaming to witness fastest growth in cloud gaming market in coming years

Video streaming solution relieves clients from computationally intensive graphics rendering and is ideal for clients with resource-constrained devices. Additionally, in this approach, computational load is paid along with network load since transmitting videos is more expensive than transmitting graphics commands. Owing to this, video streaming will hold the largest market share.

Avid Gamer segment held largest share of cloud gaming market in 2019

The larger market share of avid gamer segment is attributed to their regular presence in the gaming market. However, these gamers are attributed to have a stake of 15–25% of total sales volume, and they tend to be more price-sensitive compared to serious gamers. An avid gamer may become a serious gamer, but time constraints limit this possibility. Such gamers treat gaming as an alternative source of recreation and may temporarily stop gaming for studies, jobs, outdoor games, dis-interest, or boredom.

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APAC to have highest CAGR in cloud gaming market during forecast period

The APAC cloud gaming market is foreseen to augment at a significant rate owing to the increasing number of 5G infrastructure development initiatives in the region. Additionally, the cost-effective nature of the cloud gaming platforms is promoting its usage across various new customer classes that vary in investing in gaming systems due to their expensive nature.

The major players in the cloud gaming market are NVIDIA (US), Intel (US), Google (US), Microsoft (US), Amazon (US), Advanced Micro Devices (US), Sony (Japan), IBM (US), Tencent (China), and Alibaba (China).

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Semiconductor Manufacturing Equipment Accounted for Largest Share of Market by 2025

According to the new market research report "Semiconductor Manufacturing Equipment Market by Front-end Equipment (Lithography, Wafer Surface Conditioning, Deposition), Back-end Equipment, Fab Facility Equipment, Product Type, Dimension, Supply Chain Participant, Region - Global Forecast to 2025", published by MarketsandMarkets™, the Semiconductor Manufacturing Equipment Market is projected to grow from USD 66.1 billion in 2020 to USD 103.5 billion by 2025; it is expected to grow at a CAGR of 9.4% from 2020 to 2025.

Key factors fueling the growth of this market are the growing consumer electronics market, an increase in the number of foundries, and the trend of miniaturization and technology migration.

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IDM firms accounted for largest share of semiconductor manufacturing equipment market in 2019

In 2019, IDM firms captured the largest share of the semiconductor manufacturing equipment market. Most of the IDM players such as Samsung (South Korea), Texas Instruments (US), Song (Japan), and STMicroelectronics (Switzerland) are tire 1 companies and have a significant presence across the world, with a vast customer base. These companies are investing heavily in their R&D activities to develop technologically advanced, energy-efficient, and miniaturized products, such as RFID circuits, smart ICs, ultra-low-power microcontrollers, sensors for consumer electronics, automotive, and industrial applications. IDMs use semiconductor manufacturing equipment for fabrication, testing, assembly, and another process of complicated semiconductor equipment with high accuracy, driving the growth of the market. Also, the dominance of IMDs is expected to remain constant in the near future due to the increasing number of semiconductor fabrication plants all over the world.

Market for memory is projected to grow at highest CAGR during forecast period

Among product type, the market for memory is projected to grow at the highest CAGR from 2020 to 2025. New technologies in memory, such as MRAM, ZRAM, PCRAM, and RRAM, are expected to replace most of the traditional technologies. This shift in the memory market has demanded the change in dynamics of manufacturing equipment, enforcing semiconductor manufacturing equipment providers to develop more efficient designs for the device manufacturers.

APAC is expected to hold largest share of semiconductor manufacturing equipment market in 2025

APAC is expected to hold the largest share of the semiconductor manufacturing equipment market in 2025. The commanding position of APAC is due to the presence of a large number of OSAT companies in the region. More than 60% of OSAT players present across the world have their headquarters in the APAC region. These OSAT companies use semiconductor manufacturing equipment in the semiconductor fabrication process. Taiwan and South Korea contribute to a large number of semiconductor foundries, showcasing greater demand for equipment. The Chinese market is showing impressive growth owing to the cheap labor cost in the country. These factors help the semiconductor manufacturing equipment market to grow in the APAC region.

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Tokyo Electron (Japan), LAM Research (US), ASML (Netherlands), Applied Materials (US), KLA-Tencor (US), Screen Holdings (Japan), Teradyne (US), Advantest Corporation (Japan), Hitachi High-Technologies (Japan), and Plasma-Therm (US) are the key players in the semiconductor manufacturing equipment market. These players are increasingly undertaking strategies such as product launches, expansions, agreements, partnerships, collaborations, and acquisitions to increase their market share.

About MarketsandMarkets™
MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

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Mr. Shelly Singh
MarketsandMarkets™ INC.
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