The Sensors are expected to grow at a XX % rate of CAGR during the forecast period. The demand for sensors is increasing because of its features like dimming, and long lamp life, which is also expected to increase the demand for sensors.
Region-wise, The Asia Pacific region is projected to be a leading region in the market. The leading position in the market can be attributed to the rise in government investments for developing smart homes in developing countries like China and India. A high rate of production and the consumption of the lighting products in the region are also attracting foreign key players to invest in the country.