Yahoo Finance Global Humidity Sensor Market Projected to Garner $1,551.9 Million and Rise with 7.5% CAGR from 2019 to 2026 - Exclusive Report [Page-170] by Research Dive
The global humidity sensor market is expected to witness remarkable growth in the upcoming years. Various benefits of humidity sensors over traditional sensors are driving the growth of the market. The relative humidity sensor sub-segment and automotive sub-segment are projected to dominate the market. The North American region is estimated to lead the market.
New York, USA, July 28, 2021 (GLOBE NEWSWIRE) -- Research Dive has added a report on the global humidity sensor market to its repository. The report states that the market is estimated to hit $1,551.9 million and grow with a CAGR of 7.5% from 2019 to 2026. The report is an in-depth study presenting thorough lookout of the present scenario and future perspective of the global market. The report is articulated by veteran market analysts and assures to be a reliable source of data, recent trends, and all-encompassing market insights for new entrants, investors, existing market players, stakeholders, shareholders, etc.
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Factors Impacting the Market Growth:
The benefits of humidity sensors over traditional sensors like improved transducer performance, better sensing of elements, lesser power usage, stress-free installation, improved design of the structure, cutting-edge principle of mechanism, and fabrication technologies are propelling the global humidity sensor market growth. Additionally, increasing developments in the humidity sensor technology and growing awareness among the manufactures about humidity sensors are expected to unlock rewarding opportunities for the market growth during the forecast period.
The report segments the global humidity sensor market based on type, end user, and region.
Relative Humidity Sensor Sub-Segment to Dominate the Market
The relative humidity sensor sub-segment of the type segment is anticipated to lead the market by surpassing $577.3 million by 2026, growing with a CAGR of 8.3% in the forecast period. This growth is mostly attributed to the increasing use of relative humidity sensors as they are cost-sensitive and have high-volume applications such as industrial process control systems, office automation, automotive cabin air control, home appliances, and others.
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Automotive Sub-Segment to Observe Significant Growth
The automotive sub-segment of the end user segment grabbed highest market share in 2018 and is expected to hit $277.8 million by 2026, rising at a CAGR of 7.1% in the forecast period. This growth is mostly attributed to the growing use of humidity sensors in the automotive sector.
North America Region to Lead the Market
The report analyzes the global humidity sensor market across various regions including North America, Europe, Asia Pacific, and LAMEA. Among these, the North American region market is projected to observe significant growth and garner $419.0 million by 2026, rising at a CAGR of 7.0% during the estimated period. The growth of this region market is mainly due to the growing demand for humidity sensors in various industrial sectors in the region.
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Major Players in the Market:
The report lists some of the leading players functioning in the global humidity sensor industry including
TE Connectivity
Michell GmbH
Honeywell International Inc.
Sensirion AG
Innovative Sensor Technology (IST) AG
B+B Thermo-Technik GmbH
Arthur Grillo GmbH
E + E Elektronik GES.M.B.H
Galltec Mess-und Regeltechnik GmbH
General Electric Co.
and others.
The report also delivers numerous industry-top strategies and tactics like top tactical initiatives & advances, new launch of product/service range, business performance, Porter five forces analysis, and SWOT analysis of the leading players, operating in the global industry. For instance, in January 2021, 75F, a provider of vertically-integrated smart building solution, launched remote temperature and humidity sensor for comfort and efficacy optimization of buildings.
In Addition, the report having some numorus point about the leading Business Manufactures, Like, SWOT analysis, Product Portfolio, Finanical Status - Inquire to Get access for Detailed Top Companies Development Strategy Report
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