Market Research Report
Humidity Sensor Market Size By Product, By Output, By Application, COVID-19 Impact Analysis, Regional Outlook, Growth Potential, Competitive Market Share & Forecast, 2021 - 2027
|Humidity Sensor Market Size By Product, By Output, By Application, COVID-19 Impact Analysis, Regional Outlook, Growth Potential, Competitive Market Share & Forecast, 2021 - 2027|
Published: November 18, 2021
Global Market Insights Inc.
Content info: 250 Pages
Delivery time: 2-3 business days
The humidity sensor market is expected to exhibit robust growth by 2027 on account of widespread integration of novel technologies, including machine learning, AI, and IoT, in humidity sensors. In addition, mounting adoption of humidity sensors in the automotive industry is anticipated to further facilitate market expansion over the projected timeline.
A humidity sensor is an electronic device that measures and reports moisture and air temperature in the surrounding environment, such as air, soil, or closed spaces. Humidity measurements show the amount of water vapor in the air. The device transmits these measurements in the form of an electrical signal.
Humidity sensors are commonly used for various industrial applications in automotive, meteorology, HVAC, medical, and manufacturing. These sensors are available in different sizes, such as large embedded systems in air quality monitoring systems or compact systems in handheld mobile devices, depending on their functionality.
Soaring demand for humidity sensing in industrial processes has propelled industry uptake in key regions. Moreover, the proliferation of smart homes across developing nations as well as surging adoption of HVAC and building automation have boosted product demand in recent years.
Furthermore, industry players have been employing lucrative strategies to gain a competitive edge in the humidity sensor market, which has positively impacted the overall business scenario. For instance, in October 2021, Sensirion AG, a leading manufacturer of high-quality sensors, launched two novel versions of its humidity sensors - the SHT45 and SHT41. The two humidity sensors have been designed to provide high-accuracy humidity and temperature specifications.
To cite another instance, in March 2020, TE Connectivity Ltd., a major industrial technology company, announced the acquisition of 71.87% shares of First Sensor, a global sensor technology provider. The deal was intended to broaden TE's product portfolio by leveraging First Sensor's production and chip design expertise. The acquisition also enabled TE Connectivity to expand its optical sensing applications across heavy truck, industrial, and auto applications.
The humidity sensor market has been segmented on the basis of application, product, output, and region. In terms of application, the market has further been bifurcated into environmental, automotive, agriculture, industrial, HVAC & building automation, pharmaceutical & healthcare, and others.
The pharmaceutical & healthcare sub-segment is projected to witness considerable growth by 2027, expanding at around 5% CAGR over the assessment timeframe. This growth is attributed to the increasing adoption of humidity sensors in non-invasive and wearable devices.
From the regional point of view, the Middle East & Africa humidity sensor market is set to observe notable expansion, progressing at a CAGR of approximately 4.5% through the forecast period. Rising number of government initiatives to accelerate the development of the manufacturing sector in MEA is speculated to augment regional market growth over the forthcoming years.