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Global Humidity Sensor Market to Grow at a CAGR of 14.2% During 2021-2026, Aided by the Rising Demand for Humidity Sensors in Various End Use Industries

According to a new report by EMR titled, ‘Global Humidity Sensor Market Report and Forecast 2021-2026’, the market attained a value of about USD 4.7 billion in 2020. The industry is further expected to grow at a CAGR of 14.2% in the forecast period of 2021-2026 to reach a value of nearly USD 10.4 billion by 2026.

The Asia Pacific region is witnessing robust growth owing to the rising demand for humidity sensors due to rapid industrialisation. Moreover, the deteriorating air quality in many countries in the region is increasing the use of air quality monitoring systems embedded with humidity sensors. The expansion of the healthcare industry due to various government initiatives in countries such as India and Indonesia are increasing the usage of humidity sensors in various hospitals and nursing facilities to increase the comfortability of patients, hence bolstering the market growth. Moreover, the rising popularity of electric vehicles in countries such as India and China is surging the demand for humidity sensors; as a result, significantly contributing to the market growth.

Texas Instruments Incorporated (NASDAQ: TXN), one of the leading companies in the market, introduced a new family of humidity sensors, HDC3020 and HDC3020-Q1, to provide high reliability and accuracy while consuming the lowest power in the industry. The products would allow engineers to create more reliable and efficient automotive systems to withstand potential damage caused by moisture while reacting to evolving water vapour conditions. They also protect data integrity under stressful conditions. They are the first humidity sensors that can provide integrated correction to adapt to the drift caused by environmental stress and natural ageing. In addition, they can preserve systems’ battery lives in applications like cold-chain data loggers, wirelessly connected environmental sensors, and smart homes, among others. The development of such products is expected to augment the growth of the humidity sensor industry.

Market Analysis by Product, Type, End Use, and Region:

  • The market, on the basis of product, can be divided into relative humidity sensor and absolute humidity sensor.
  • Based on types, the industry can be divided into digital and analogue.
  • The end uses of humidity sensor include residential, commercial, automotive, industrial, agricultural, weather station, and healthcare. 
  • The regional markets for humidity sensor include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

Key Findings of the Report:

  • The use of humidity sensors in the HVAC systems in automobiles to improve the overall efficiency of automobiles is aiding the market growth.
  • The market growth is being driven by the increasing use of humidity sensors in the battery management system to boost the security of electric vehicles. 
  • The rising use of smart humidity sensors to measure moisture content owing to the rising popularity of precision agriculture is invigorating the market growth of humidity sensor.
  • Various measures adopted by agricultural producers to increase the profitability and yield of crops are surging the usage of humidity sensors, therefore augmenting the growth of the humidity sensor industry.

Key Offerings of the Report:

  • The EMR report gives an overview of the global humidity sensor market for the periods (2016-2020) and (2021-2026).
  • The report also offers the historical (2016-2020) and forecast (2021-2026) markets for the products, types, end uses, and regions of humidity sensor.
  • It assesses the regional price trends for the (2016-2020) and (2021-2026) periods. 
  • The market report also analyses the trade data by covering the major importing and exporting countries. 
  • The report analyses the market dynamics, covering the key demand and price indicators in the market, along with an assessment of the SWOT and Porter’s Five Forces models.

The major players in the global market for humidity sensor are TE Connectivity Corporation, Honeywell International Inc., Guangzhou Aosong Electronics Co., Ltd., Renesas Electronics Corporation, Amphenol Corporation, Texas Instruments Incorporated, and Sensirion AG Switzerland, among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.

About Us:

Expert Market Research (EMR) is a leading market research and business intelligence company, ensuring its clients remain at the vanguard of their industries by providing them with exhaustive and actionable market data through its syndicated and custom market reports, covering over 15 major industry domains. The company's expansive and ever-growing database of reports, which are constantly updated, includes reports from industry verticals like chemicals and materials, food and beverages, energy and mining, technology and media, consumer goods, pharmaceuticals, agriculture, and packaging.

EMR leverages its state-of-the-art technological and analytical tools, along with the expertise of its highly skilled team of over 100 analysts and more than 3000 consultants, to help its clients, ranging from Fortune 1000 companies to small and medium sized enterprises, easily grasp the expansive industry data and help them in formulating market and business strategies, which ensure that they remain ahead of the curve.

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*We at Expert Market Research always thrive to give you the latest information. The numbers in the article are only indicative and may be different from the actual report.

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