Humidity Sensor Market Growth Rate Research Report by Forecast 2025
Market Research Future published a research report on “Humidity Sensor Market Research Report- Forecast 2025” – Market Analysis, Scope, Stake, Progress, Trends and Forecast to 2025.
Market Analysis
As per the analysis by Market Research Future Reports (MRFR), the global humidity sensor market is estimated to attain a market value of USD 1551.4 million by 2025, expanding with a CAGR of 6.30% during the review period. The outbreak of COVID-19 has affected the global humidity sensor market. The increasing adoption of humidity sensors in industrial processes and the rising demand for smart home devices is likely to propel the market expansion. The increasing adoption of wireless moisture sensors for climate regulation in greenhouse farming is likely the most crucial factor in driving market expansion. They are used in several industries, like printing, textile, and food processing. These sensors are being adopted at a higher pace in sectors like textile, beverage, and healthcare, which is another important factor that influences the market. Apart from this, the rise in the adoption of HVAC and smart city initiatives are likely to aid in the expansion of global humidity sensor market 2020.
Key Players
The forefront players in the global Humidity Sensor Market are Honeywell International, Inc.(the US), Sensirion AG (Switzerland), GE Inspection Technologies (US), PCE Holdings GmbH (Germany), Amphenol Corporation (US), Texas Instruments (US), Bosch Sensortec GmbH (Germany), OMRON Corporation (Japan), Silicon Laboratories (US), TDK Corporation (Japan), Alps Alpine co., ltd (Japan), and STMicroelectronics NV (Switzerland), and a few others.
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Market Segmentation
The global humidity sensor market can be segregated on the basis of material type, application, type, and region.
On the basis of material type, the global humidity sensor market is segmented into semiconducting metal oxides, polymer-based, and ceramic sensing.
On the basis of application, the global humidity sensor market is segmented into fabric & textile, plastic & polymer, food & beverage, buildings & tunnels, agriculture, pharmaceuticals, and others.
On the basis of type, the global humidity sensor market is segmented into relative humidity sensors (resistive, capacitive, and thermal sensors), absolute humidity sensors (solid moisture sensors and mirror-based sensors), and others). The absolute humidity segment acquired the largest market share in 2019.
On the basis of region, the global humidity sensor market is segmented into Europe, North America, Asia-Pacific, and the Rest of the World (RoW).
Regional Analysis
The regional analysis of Europe, North America, Asia-Pacific, and the Rest of the World (Row) has been performed. As per the analysis by the Market Research Future Reports (MRFR), the North American market acquired the largest market share accounting for 29.43% in 2019 and valuing USD 314.9 million. Owing to the high demand of IIoT, the North American market is propelling at a fast pace. The market is led by the US, followed by Canada and Mexico, owing to the rising demand for humidity sensors in hotels, hospitals, buildings, and schools. The market is likely to expand at a CAGR of 5.9% during the review period. The second position has been attained by the European market. The European market holds the second largest market owing to the presence of manufacturing companies, various agriculture, and chemical companies. The market is likely to expand at a CAGR of 4% and value about USD 247.0 million. The market in the APAC region is estimated to register the highest CAGR of 8.4% during the forecast period. The markets of China acquire the largest share of the market because of strict rules and regulations concerning the environment, large manufacturing base, and the increasing demand for regulating moisture content in buildings and homes. The Rest of the World (Row) is likely to expand at a good pace during the review period.
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