ID: MRFR/SEM/4140-CR | April 2020 | Region: Global | 135 pages
Global Humidity Sensor Market valuation is expected to reach USD 1551.4 Million by 2025, registering a 6.30% CAGR during the forecast period. In 2019, the humidity sensor market was valued at USD 1069.9 Million.
The humidity sensor market is driven by the rising demand from the burgeoning food & beverage, plastic & polymer, buildings & tunnels, and pharmaceutical industries. Besides, increasing applications of humidity sensors in agricultural, medical, and biomedical devices and IIoT devices provide tremendous opportunities for market growth.
The humidity sensor market has been garnering significant traction across the globe due to the massive prominence these sensors have gained over the past few years. However, the COVID-19 outbreak created significant hurdles for the humidity sensor industry, bringing the world to a halt.
With the pandemic-driven lockdown causing huge revenue losses to end-use industries, humidity sensor prices spiked, and the demand lowered. However, post lockdown limitations were relaxed, the humidity sensor market is again gearing up. Innovative industry players have actively started to look for increasing application areas of sensors in monitoring and tracking devices developed for COVID 19.
Humidity sensors are increasingly used in medical devices to track patient health metrics from afar, and sensor manufacturers are using these opportunities to streamline their production lines.
Increasing Uses of Humidity Sensors Impact the Market Growth Positively
The humidity sensor market outlook appears promising, demonstrating tremendous opportunities in the food & beverage, healthcare, and textile, among other sectors. Besides, the growing adoption of wireless moisture sensors for climate monitoring in greenhouse farming boosts the humidity sensor market share. Spurring rise in various industries, manufacturing sectors, and the rising automation influences the dynamics of the humidity sensor industry.
Additionally, the miniaturization of sensors, the rising developments in IoT and IIoT technology due to the proliferation of industry 4.0, and the advent of 5.0 are some of the key humidity sensor market trends fostering the growth of the market. Moreover, increasing uses of sensors in smart grids and smart homes propel the growth of the market.
Agricultural Sectors Present Robust Opportunities
Many Fortune 500 companies, startups, and Connecticut businesses are increasingly seeking to position themselves in the sensor-technology space. They are developing products and services to detect environmental changes like heat, motion, or pressure, providing data and information.
Temperature and humidity sensors are commonly used in consumer electronics; however, businesses in myriad industries are being adopted at a rapid pace to make their operations, products, or services more efficient and profitable. Furthermore, rising uses of humidity sensor switches, relative humidity sensors, and wireless/remote humidity sensors in environmental monitoring devices and soil monitoring devices present untapped opportunities for market growth.
With the growing global food demand due to the rapidly increasing population worldwide, many players are actively working on the global challenge to balance food production while simultaneously reducing greenhouse gas (GHG) emissions from agricultural production.
Increasing adoption of the wireless humidity sensor and remote humidity sensor in monitoring variables that affect crop quality providing near real-time, actionable insights that allow farmers to increase yield and save time spent for watering trips to the field. These factors are cumulatively projected to offer significant growth opportunities for the humidity sensor market.
Restraints & Challenges
Fluctuating Prices to Restrain Market Growth
Fluctuations in the prices and the demand-supply gap in various key components & raw materials are major factors restraining the growth of the market. Moreover, high maintenance and operational costs are presenting major challenges to the market growth. Also, humidity sensor technology is a little expensive, which often increases its overall market price. Therefore, the high costs are considered as a major factor projected to challenge the market growth.
The Humidity Sensor Market is segmented into Type, Material Type, Application, and Region.
Absolute Humidity Sensor to Witness Significant Demand
The type segment is sub-segmented into absolute humidity sensors, relative humidity sensors, and others. Absolute humidity sensors are further bifurcated into mirror-based sensors and solid moisture sensors. Relative humidity sensors are further bifurcated into capacitive, resistive, and thermal.
Among these, the absolute humidity sensor segment accounts for the largest market share, while relative humidity sensor accounts for the fastest-growing segment. In 2019, the segment held a 61.5% market share, with a market value of USD 658.0 million. The absolute humidity sensor segment is estimated to grow at a 5.1% CAGR during the forecast period. On the other hand, the relative humidity sensor segment is projected to register and an 8.6% CAGR during the forecast period.
Material Type & Application Segment Bifurcation
The material type segment is sub-segmented into semiconducting metal oxides, polymer-based, and ceramic sensing. The application segment is sub-segmented into food & beverage, plastic & polymer, buildings & tunnels, pharmaceuticals, agriculture, fabric & textile, and others.
North America is the Largest Market for Humidity Sensors
By region, the market is bifurcated into the Americas (US, Canada, Mexico, Rest-of-North America) and South America, Europe (the UK, Germany, France, Italy, and Rest-of-Europe), Asia Pacific (China, Japan, India, South Korea, and Rest-of-the-APAC), and Rest-of-the-World. Among these, North America accounts for the largest market share, followed by Europe and the Asia Pacific region, respectively.
North America to Maintain its Winning Streak
North America has always remained the market leader and could continue to maintain its winning streak throughout the assessment period. The humidity sensor market in North America reached a market valuation of USD 314.9 million in 2019, which would grow further at a 5.9% CAGR during the forecast period.
Factors such as vast technology upgrades and the high demand for IIoT devices from the industrial sectors drive the humidity sensor market growth. The US is the largest market for humidity sensors, followed by Canada and Mexico. The rising demand for humidity sensors in hotels, hospitals, buildings, and schools boosts the US humidity sensor market size.
Europe Derives Second- Highest Share
Europe holds the second-leading share in the global humidity sensor market. Factors such as the vast growth in manufacturing sectors and the large presence of agriculture and chemical companies foster Europe's humidity sensor market share.
Additionally, strict regulations and considerable healthcare spending, coupled with the extensive pool of medical device manufacturers in the region, push the regional market growth. The European market is projected to expand at a 4% CAGR, with a market value of USD 247.0 million by the end of the forecast period.
APAC, an Emerging market for humidity sensors
The Asia Pacific region is an emerging market for humidity sensors. Factors such as growing uses of humidity sensors in medical devices and agricultural applications boost the market demand in the region. Furthermore, augmenting demand due to the increasing awareness about the humidity sensor's advantages in industrial safety and agricultural applications contributes to the market's growth.
Besides, the significant expansion of prominent end-use industries like food & beverage, plastic & polymer, fabric & textile buildings & tunnels, and pharmaceuticals, and increasing automation in manufacturing sectors influence the regional market growth. The humidity sensor market in the Asia Pacific region is expected to register an 8.4% CAGR during the forecast period.
Players Focus Product Development and Expansion
The humidity sensor market appears extremely competitive, considering the strong presence of established industry players. Temperature and humidity sensor manufacturers are increasingly facing fierce competition from each other and from local players, who are well aware of the industry's regulations and suppliers. Humidity sensor manufacturers seek opportunities to integrate across the extended value chain, focusing on expanding production facilities, R&D investments, and M&A activities.
Key Companies Covered in the Report
Honeywell International, Inc.(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) are some of the affluent contenders holding sizeable humidity sensor market share.
Soiltech Wireless Inc. (the US) is a leading sensor technology provider. Enabled by AT&T's nationwide, highly secure LTE-M cellular network in the United States, the Soiltech Sensor precisely records and transmits data for soil moisture, temperature, humidity, location, and impacts that may create bruising while crops are being grown, transported and stored. Soiltech's devices are useful in measuring, viewing, and managing multiple variables that impact crop quality.
Jan. 29, 2021 – Avnet, Inc. (the US), a distributor of electronic components and technology solutions provider, launched the HoriZone RA development kit to enable proof-of-concept designs edge-to-cloud Internet of Things (IoT) applications requiring secure communications. The HoriZone RA development kit is available in the Americas. Powered by Renesas Advanced microcontrollers, Avnet's HoriZone RA kit and IoTConnect platform are designed to provide secure, real-time IoT sensor data to the cloud.
Dec. 30, 2020 – Soiltech Wireless Inc. (the US), a leading sensor technology provider, announced that it has expanded the functionality of its soil moisture sensor with temperature, humidity, location, and impacts.
Dec. 23, 2020 – Amphenol Corp. announced plans to acquire sensor-technology company MTS Systems Corp. for USD 1.7 BN. Amphenol makes electrical, electronic, and fiber-optic connectors and cables & interconnect systems for the telecommunications, aerospace, and other industries. Amphenol saw the demand for sensors growing, really, across all the markets.
Nov. 10, 2020 – LilyGO launched a range of ESP32 "TTGO" boards featuring PoE, battery support, OLED display, cellular connectivity, and even a devkit in watch form factor. TTGO T- Higrow is a WiFi & Bluetooth connected soil temperature & moisture sensor. The latest product from the company specifically targets smart farming/gardening.
Nov. 05, 2020 – Würth Elektronik eiSos, one of Europe's biggest manufacturers of electronic & electromechanical components, announced developing a micro-electro-mechanical system (MEMS) sensor. This micro-sensor's size is 2 x 2 x 0.9 mm, and with its low energy requirement and calibrated and temperature-compensated digital output, the sensor measures humidity and temperature with long-term stability.
The humidity sensor market analysis features unique and relevant factors that significantly impact market growth.
This detailed temperature humidity sensor market forecast would help industry players to better understand the market. The MRFR report elaborates on the historical and current relative humidity sensor market trends boosting the growth of the market.
Besides, the analysis of COVID-19 impact on the humidity sensor industry is also included in the report. Regional assessment explained in this report unlocks a plethora of untapped opportunities in regional and domestic market spaces. Detailed company profiling in the region enables users to evaluate company shares analysis, scope of the existing & emerging product lines in new markets, pricing strategies, innovation possibilities, and much more
Frequently Asked Questions (FAQ) :
The global market of humidity sensor can thrive at 15% CAGR from 2016 to 2023.
Infineon Technologies (Germany), BEI Sensors (U.S.), and Continental AG (Germany) are some notable developers of humidity sensors.
Thermo-set polymer, thermoplastic polymer, bulk thermoplastic, bulk ALO3, and lithium chloride film are materials that are used to fabricate humidity sensors.
The rise in the adoption of HVAC and smart city initiatives are expected to impel the expansion of the humidity sensor market.
The North America humidity sensor market can surge due to high demand for IIoT.