APAC held the largest share in the Global Humidity Sensors Market in 2020 and is expected to maintain the market dominance during the forecast period owing to the presence of major players and large urban population in the region
The Global Humidity Sensors Market stood at USD934.20 million in 2020. The same, as per a report by Research and Markets, is forecast to grow at a CAGR of 6.26 per cent until 2026.
“Growth in the humidity sensors market is driven by their widespread usage in a variety of applications, from home appliances to commercial industries and from automobiles to aircraft,” read the report.
It continued, “The function of these sensors allows careful monitoring of environmental conditions ranging from in-home use for alerting the user of any alarming conditions that may impact air quality, to monitoring expensive wireless equipment during events in weather that can impact communication and equipment performance.”
Based on product, the market can be segmented into relative and absolute. Relative humidity sensors dominated the market in 2020 as relative humidity sensors are better option than absolute humidity sensors due to their greater accuracy and dependability and low cost. Based on type, the market is bifurcated into digital & analog humidity sensors.
Digital humidity sensors dominated the market in 2020 because it provides a better viewing experience compared to analog with no signal loss. However, analog humidity sensors find applications in thermal and nuclear power plants which will increase their demand in the forecast period.
The market can further be divided into automotive, industrial, healthcare, residential, agriculture and others. Automotive segment dominated the humidity sensors market in terms of application in 2020 as it enhances the comfort by managing the humidity levels inside the car.