Global Digital Temperature and Humidity Sensor Market – Industry Analysis and Forecast (2019-2027)
Global digital temperature and humidity sensor market size was US$ XX Bn in 2019 and is expected to reach US$ XX Bn by 2027, at a CAGR of 12% during the forecast period.
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Global digital temperature and humidity sensor market Definition
Digital temperature and humidity sensors are electronic sensing devices which are used to measure the degree of temperature in the particular atmosphere and to measure quantity of moisture and air temperature in the surrounding air.
Global digital temperature and humidity sensor market Dynamics
A surge in the adoption of digital temperature sensors in a broad range of applications such as medical, aerospace, and scientific applications, in industrial automation and in test and measurement equipment and rising use of humidity sensors in environmental, consumer, biomedical and industrial applications are major driving factors behind the growth of the market. Rising trend of miniaturization of electronic components, expanding advancements in sensor technology, growing market for electronics and semiconductor manufacturing industry, growing adoption of humidity sensors in Smartphone devices and rising integration of temperature sensors in A/D converters and D/A converters are expected to improve the growth of the market during the forecast period.
However, high costs associated with digital temperature and humidity sensor is the major restraining factor that could hamper the growth of the market.
Global Digital Temperature and Humidity Sensor Market: Market Overview
The market for global humidity sensor has been seeing ample growth from the past few years. The growth is primarily attributed to its wide scale adoption in applications such as HAVC system i.e. in home heating, ventilating and air conditioning systems. These sensors are also used in commercial applications such as offices, humidors, cars, museums, greenhouses, industrial spaces and in meteorology stations to predict and report the weather conditions. On the other hand, growing importance of temperature sensors in applications such as motors, home appliances, surface plates, computers, exhaust gas monitoring systems and food production equipments is escalating the growth of the market. In addition, digital temperature and humidity sensor provides some benefits such as high accuracy, high sensitivity, long term stability and low power consumptions, which are making them more demandable in various applications.
By End-User, automotive and industrial automation segments dominated the market in 2019 and are projected to witness fast growth at a CAGR of XX% during the forecast period. A surge in the adoption of digital temperature and humidity sensors in automotive applications such as in alternative fuel vehicles (AFV), body electronics and power train and increasing adoption in industries such as metal, chemical, refineries, food processing, paper, textile and many other industries to control humidity and temperature is attributed to the growth of the market.
Global Digital Temperature and Humidity Sensor Market: Regional Analysis
Region-wise, Asia Pacific held the largest market share in 2019 and is expected to maintain its dominance at a CAGR of XX% during the forecast period. The economies such as China, India, Japan, and South Korea are major key contributors behind the growth of market. The growth is attributed to the surge in the adoption of digital temperature and humidity sensors in automotive, consumer electronics and manufacturing industries to control and monitor temperature and humidity to avoid certain risk situations.
Increasing demand for humidity sensors from HAVC industry, rising adoption of air quality monitoring systems, growing need for humidity sensors in domestic and commercial applications such as in homes and offices and increasing significance of temperature sensors in motorsport, medical, agriculture, aerospace and industrial applications are witnessing the growth of the market in the APAC region.
Global Digital Temperature and Humidity Sensor Market: Key Development
• In Oct 2018, Sensirion Company announced its latest temperature and humidity sensor module named as SCC30-DB, to use in HVAC applications and home appliances.
The objective of the report is to present a comprehensive analysis of the Global Digital Temperature and Humidity Sensor Market including all the stakeholders of the industry. The past and current status of the industry with forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that includes market leaders, followers, and new entrants. PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers. The report also helps in understanding Global Digital Temperature and Humidity Sensor Market dynamics, structure by analyzing the market segments and projects the Global Digital Temperature and Humidity Sensor Market. Clear representation of competitive analysis of key players by Application, price, financial position, Product portfolio, growth strategies, and regional presence in the Global Digital Temperature and Humidity Sensor Market make the report investor’s guide.
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Global Digital Temperature and Humidity Sensor Market, By Technology
Global Digital Temperature and Humidity Sensor Market, By End-User
• Consumer Electronics
• Respiratory Equipment
• Industrial Automation
Global Digital Temperature and Humidity Sensor Market, By Region
• North America
• Asia Pacific
• South America
• Middle East and Africa
Global Digital Temperature and Humidity Sensor Market, Key Players
• STMicroelectronics NV
• ams AG
• E+E Elektronik GmbH
• TE Connectivity
• Sensirion AG
• Texas Instruments Inc
• Silicon Laboratories, Inc
• Honeywell Sensing
• Analog Devices Inc
• Melexis NV
• NXP Semiconductor
• Continental AG
• Robert Bosch GmbH
• Amphenol Corporation
• PCE Holdings GmbH
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