Market Size: Motion Sensor Security Lighting
The size of the US market for Motion Sensor Security Lighting is approximately $570 million.
MOTION SENSORY SECURITY LIGHTING MARKET
US MARKET SIZE
- According to a Markets and Markets report, North America (which includes the US) accounts for 10% of the global motion sensor security lighting market size.
- Therefore, 10% of the $5.7 billion (global market size), would be the equivalent of the US market size, which is $570 million.
- The 2019 global market size for motion sensor security lighting is $5.7 billion.
- The global market size is expected to grow by CAGR of 8.3%, amounting to $9.3 billion in 2025.
- Growth drivers include "high demand for consumer electronics, lucrative opportunities in developing countries, and increased defense spending to upgrade related products."
- Internet of things (IoT) and wearable electronics will also contribute to the growth opportunities.
- The infrared motion technology is the largest segment for the motion sensor market within this period.
- Europe will hold the majority of the market share between 2019 and 2025, while Asia-Pacific will be second, and North America (including the US) will be third.
- The key market players from the US are Analog Devices, Microchip Technology, TDK InvenSense, Memsic, Kionix, IFM Electronic, Sensata Technologies, KVH Industries, and Qualtre.
US MOTION SENSOR SECURITY LIGHTING MARKET: ADDITIONAL INFORMATION
- Analog Devices partnered with China Mobile IoT (CMIOT) in 2017 to provide IoT solutions for their customers.
- Linear Technology was acquired by NXP in 2017 for $15.8 billion to strengthen product offering and further increased revenue.
- Kionix launched a new accelerometer product in 2019, KX13x Series, to increase accuracy in detection of events.
- An automotive product line with high-accuracy, useful for tunnels and parking garages, was launched by TDK InvenSense in 2019.
- Two of the global market key players from the US have the following market caps: Analog Devices has a market cap of $44.34 billion and Microchip Technology has a market cap of $22.75 billion since July 23, 2019.
- The top five key domestic US manufacturers of motion sensor security lighting and their market caps since September 26, 2018, are:
- Analog Devices Inc. — $34.6 billion
- NXP USA Inc. — $29.98 billion
- Maxim Integrated — $16.16 billion
- Knowles — $1.48 billion
- KEMET -$1.14 billion
- Other companies that make up the top ten key players in the US market are EPSON, Hillcrest Laboratories, Murata Electronics North America, Omron Electronics Inc, and Sharp Microelectronics. These are all private companies (Source 4)
Our first strategy in this research was to consult global motion sensor market reports from reputable sources such as Markets and Markets in an effort to identify the US market size. We were able to find information regarding the global market size, US key players in the global market, and the market share for North America, but not the US market size.
The second strategy employed was to try to identify the US market share in the market for motion sensor security lighting from business news sources such as PR Newswire which would enable us to quickly calculate the US market size from the global market size. However, the relevant source on the topic was outdated (i.e. beyond the date range of this research but had a forecast that would've been applicable to 2019) and did not have any information regarding the US market.
We then decided to look for mentions of the US market or market share in the US global key players' annual reports, given that they are globally and nationally recognized, but we did not gather any relevant information that would give us the opportunity to triangulate the US market size. Consequently, we decided to expand the scope to look for US key players and their respective market caps, with the hope of finding information to facilitate a calculation of the US market size from North America's market. Through this method, we were able to identify the top five key manufacturers in motion sensor security lighting and their respective market caps, but no relevant information to calculate the US market size from North America's.
Since we were able to identify that North America accounts for 10% of the global market size and the majority of North America is the US, we decided to calculate this 10% as an estimate of the US market size because it is included in the North American market.
Calculation = 10% of $5.7 billion = .10 x 5.7 billion = 570 million