(MENAFN- GlobeNewsWire - Nasdaq) Brooklyn, New York, July 22, 2021 (GLOBE NEWSWIRE) -- According to a new market research report published by Global Market Estimates, the Smart Building Sensor Market will grow with a CAGR value of around 8.5% percent over the forecast period [2021 to 2026].
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Smart building sensors are advanced detectors installed in residential, commercial, and industrial buildings to monitor temperature, humidity, pressure, and air quality. Other key features offered by different sensors are related to communication, air efficiency, smoke detection, chemical detection, and space optimization.
Increasing end-use companies' preference to optimize infrastructural solutions by adopting technologically advanced products will drive the smart building sensor market. Improvised communication, internal environment, and systematic monitoring are the major reasons to install these devices. Another important factor to use these detectors is to reduce the number of accidents related to gas leaks or any hazardous gas intervention in industrial areas.
Temperature & humidity sensors witnessed the largest consumption
The smart building solutions witnessed the largest consumption or installations of temperature & humidity sensors. For commercial & industrial applications, it is essential to control and monitor the internal environment to avoid overheating and cooling. Another sensor that is gaining high popularity in the industrial sector is the air/gas quality sensor. Enhancing air quality, maintaining safety, and avoiding accidents related to gas are the major success factors to drive product penetration.
Commercial application led the demand
The commercial sector is the leading application in the region owing to its high number of detector installations for diversified purposes. Regulatory guidelines related to energy conservation and environmental safety are the prime factors to drive demand in this segment. Another key factor is the introduction of different sensors related to space occupancy and people flow has instigated the deployment in offices buildings.
North America dominated the regional share
Early adoption of advanced technology along with stringent regulatory compliances related to building codes are the key success factors to drive regional demand. North America is among the leading consumer and users of these advanced detectors to be deployed in commercial and industrial infrastructure. Rapid industrialization and the increasing need to adopt cost-effective building solutions will promote product penetration in the region.
Long term partnership s with the end-use industries and product customization are prime strategies
Major participants in the industry are Honeywell, Cisco, IBM, Hitachi, Legrand, Schneider Electric, Johnson Controls, Panasonic, Huawei Technologies Co Ltd, Siemens, Verdigris Technologies, ABB Smart Building Solutions, SOFTDEL, Intellinium, Intel Corporation, REXEL, L & T Technology Services, IGOR, 75F, and Spacewell.
The global smart building sensor company market share is amalgamated in nature due to the presence of few large-scale providers. Technological advancement, early entrance into the market, and a successful record of reliable products were the major advantages for these companies to hold their dominance in the industry.
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Type Outlook (Revenue, USD Million , 2019 -2026)
- Temperature sensors
- Humidity sensors
- Motion / occupancy sensors
- Contact sensors
- Gas / air quality sensors
- Electrical current monitoring sensors
- Others
Application Outlook (Revenue, USD M illion , 2019 -2026)
- Residential
- Commercial
- Industrial
- Others
Regional Outlook (Revenue, USD M illion , 2019 -2026)
North America
Europe
- Germany
- UK
- France
- Italy
- Spain
- Russia
- Rest of Europe
Asia Pacific
- China
- Singapore
- Japan
- South Korea
- Australia
- Rest of Asia Pacific
Latin America
- Brazil
- Mexico
- Rest of Latin America
Middle East & Africa
- Saudi Arabia
- UAE
- Rest of Middle East & Africa
Website: Global Market Estimates
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Contact Data Contact: Yash Jain
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