Global Digital Humidity Sensor Market 2023-2030

Title: Global Digital Humidity Sensor Market Size, Share & Trends Analysis Report by Technology (MEMS (Micro Electro-Mechanical System), CMOS (Complementary Metal Oxide Semiconductor), and Others), and by Industry Vertical (Residential, Commercial, Automotive, Industrial, Agriculture, Weather Station, Healthcare, and Others)Forecast Period (2023-2030).

The global digital humidity sensor market is anticipated to grow at a CAGR of 8.2% during the forecast period (2023-2030). Market growth is driven by the increasing demand for industrial applications around the globe. To meet this demand, major market players are introducing new products. For instance, in March 2023, Sensirion launched the SHT40I-Analogue Humidity Sensor. This sensor is specifically designed for severe environments and demanding industrial applications, where digital solutions may not be feasible due to high noise levels. The sensor offers simple design-in and output characteristics, making it suitable for high-volume applications. Modern humidity and temperature sensors like the SHT40I-Analogue are developed to address the needs of demanding industrial sectors, including air conditioning and refrigeration systems.

Segmental Outlook

The global digital humidity sensor market is segmented by technology, application, and industry vertical. Based on the technology, the market is sub-segmented into MEMS, CMOS, and others. Based on the application, the market is sub-segmented into the food industry, mining industry, cement industry, and pharmaceutical industry. Furthermore, based on industry vertical, the market is sub-segmented into residential, commercial, automotive, industrial, agriculture, weather stations, healthcare, and others. Among the industry vertical, the automotive sub-segment is anticipated to grow significantly the market. Humidity sensors are being used more frequently to make sure that the air inside cars is properly regulated. The aforementioned sensors can be very useful in reducing inside windscreen fogging.

The Agriculture Sub-Segment is Anticipated to Hold a Considerable Share of the Global Digital Humidity Sensor Market

Within the industry vertical, the agriculture sub-segment is expected to hold a considerable share of the global digital humidity sensor market. This growth can be attributed to the growing demand for monitoring multiple parameters in agriculture industry. Innovative digital sensors are being developed to track multiple variables such as humidity and soil moisture. As a result, key market players are actively involved in developing advanced technologies to meet the specific needs of the agricultural segment. These advanced technologies include soil moisture sensors and other innovations that enhance existing farming techniques. For instance, in March 2021, Monnit launched the ALTA Soil Moisture Sensor, which provides consumers with real-time information on their smartphone or computer. This data helps them determine the precise amount and timing for watering crops or maintaining business landscaping, optimizing agricultural practices, and resource management.

Regional Outlook

The global digital humidity sensor market is further segmented based on geography, including North America (the US and Canada), Europe (the UK, Italy, Spain, Germany, France, and the Rest of Europe), Asia-Pacific (India, China, Japan, South Korea, and the Rest of Asia), and the Rest of the World (the Middle East and Africa, and Latin America). Among these, the Asia-Pacific region is anticipated to hold a prominent share of the market across the globe. The agriculture industry is of dominant importance to countries such as India and others, as a substantial portion of their population relies heavily on it. According to the India Brand Equity Foundation (IBEF), India boasts the second-largest agricultural land globally, and it plays a crucial role in generating employment for approximately 50% of the total Indian population.

North America is Expected to Grow at a Significant CAGR in the Global Digital Humidity Sensor Market

North America is expected to experience significant growth at a considerable CAGR over the forecast period. This growth in the regional market is attributed to the increasing adoption of sensor applications in the automobile industry and the growing demand for manufacturing automation. For instance, in February 2023, the Semiconductor Industry Association (SIA) reported that the semiconductor sector reported the sales of $574.1 billion in 2022, marking a 3.3% increase from the previous year's $555.9 billion.

Market Players Outlook

The major companies serving the digital humidity sensor market: BorgWarner Inc., Bosch Sensortec GmbH, Continental AG, DENSO Corp., Guangzhou Aosong Electronic Co., Ltd., and others. The market players are considerably contributing to market growth through the adoption of various strategies, including mergers and acquisitions, partnerships, collaborations, funding, and new product launches, to stay competitive in the market. For instance, in May 2023, iMatrix Systems introduces its latest collection of humidity and temperature sensors. The innovative sensors were created especially for uses in agriculture, pharmaceuticals, food and product storage, and transportation tracking. These sensors, referred to as the NEO Series, equipped with an accuracy range of -40°C to 125°C and a relative humidity range of 0 to 100%. In refrigeration and HVAC systems, where precise temperature and humidity control is essential for maintaining product quality and lowering energy costs.

The Report Covers:

• Market value data analysis of 2022 and forecast to 2030.
• Annualized market revenues ($ million) for each market segment.
• Country-wise analysis of major geographical regions.
• Key companies operating in the global digital humidity sensor market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.
• Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
• Analysis of market-entry and market expansion strategies.
• Competitive strategies by identifying 'who-stands-where' in the market.