Portland, July 27, 2020 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global humidity sensor market generated $4.08 billion in 2019, and is estimated to reach $11.85 billion by 2027, registering a CAGR of 14.2% from 2020 to 2027. The report offers an extensive analysis of changing market dynamics, key winning strategies, business performance, major segments, and competitive scenarios.

Increase in adoption of AI and IoT in electronics and rise in installation of personal weather stations drive the growth of the global humidity sensor market. However, high cost associated with raw materials such as ceramics and polymers is anticipated to restrain the growth of the market. Furthermore, development of precise farming and vertical farming is expected to create new growth opportunities for the market players during the forecast period.

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Covid-19 scenario:

  • Major humidity sensor manufactrurers across the globe have halted their production activities due to disrupted supply of raw materials such as ceramics and polymers amid lockdown occurred due to Covid-19 pandemic.
  • The demand of humidity sensor is expected to decline during the Covid-19 pandemic as automotive and industrial manufacturing units across the globe have halted their production activities amid the lockdown.

The report offers a detailed segmentation of the global humidity sensor market based on product, type, end-user, and region.

Based on product, the relative segment contributed to the largest share in 2019, accounting for more than four-fifths of the total share, and is estimated to maintain its dominant position during the forecast period. In addition, it is estimated to portray the highest CAGR of 14.9% during the forecast period. The research also analyzes the absolute segment.

Based on type, the digital segment accounted for the largest share in 2019, holding nearly three-fifths of the total share, and is expected to maintain the largest share throughout the forecast period. In addition, it is also expected to register the highest CAGR of 16.3% from 2020 to 2027. The research also discusses the analog segment.

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Based on region, Asia-Pacific contributed the highest share, accounting for more than half of the total market share in 2019, and will maintain its dominance throughout the forecast period. However, In addition, it is expected to grow at the highest CAGR of 15.6% from 2020 to 2027. The research also analyzes regions including North America, Europe, and LAMEA.

Leading market players analyzed in the research include Guangzhou Aosong Electronics Co., Ltd., Amphenol Advanced Sensors, Laird Connectivity, Honeywell International Inc., Renesas Electronics Corporation, Michell Instruments, Sensirion AG Switzerland, Schneider Electric, Texas Instruments Incorporated, and TE Connectivity.

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