Humidity Sensors Market size is set to surpass USD 1 billion by 2027, according to a new research report by Global Market Insights Inc.
The market growth is due to the rising integration of these sensors in the food & beverage sector. The presence of humidity and moisture in food & beverage processing units leads to mold & bacterial growth. This may result in decreasing product quality & shelf life of the food & beverage products. The companies are, therefore, integrating advance sensors to measure humidity in food & beverage manufacturing, processing, and packaging facilities to improve the product quality and reduce the food spoilage.
Favorable government initiatives supporting the modernization of manufacturing facilities to integrate sensor automation will fuel the market expansion. For instance, in March 2021, the government of Australia announced a funding of up to USD 993 million for regional F&B manufacturers under its Modern Manufacturing Initiative (MMI) scheme. Through this initiative, the government aims to scale up local food & beverage production in the country, which is expected to stimulate the growth opportunities in the coming years.
Sustainability issues associated with humidity sensors are one of the major factors restraining the market progression. These sensors are unable to adapt to large changes in atmospheric environments. For instance, when the sensor is moved from the low to the high-humidity region, it reflects inaccuracies such as non-linearity and offset errors. Adding to this, these sensors are integrated with brass filters that get eroded when operating in extreme humid environments, further hampering the industry growth. To overcome this, manufacturers are emphasizing on developing sensors with newer materials, such as stainless steel and aluminum, which is poised to contribute to the industry expansion.
Technological advancements in resistive humidity sensors will spur the market value
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The resistive segment in the humidity sensors market held 25% of the market share in 2020 and is projected to witness 5.5% growth rate through 2027. The growth can be credited to several advantages offered by resistive sensors such as high accuracy, stability, and producing repeatable results in relatively humid environments. These sensors are integrated with low-resistive materials, such as ceramics and polymers, providing lower device footprint and lesser calibrations. These features increase their adoption in environmental monitoring and agricultural applications. Companies are focusing on integrating IoT technology in resistive sensors to achieve a competitive advantage among other players.
Browse key industry insights spread across 250 pages with 171 market data tables and 27 figures & charts from the report, “Humidity Sensors Market Size By Product (Relative [Capacitive, Resistive], Absolute), By Output (Analog, Digital), By Application (Automotive, Industrial, Pharmaceutical & Healthcare, HVAC (Heating, Ventilation, and Air Conditioning) & Building automation, Agriculture, Environmental]), COVID-19 Impact Analysis, Regional Outlook, Growth Potential, Competitive Market Share & Forecast, 2021 – 2027” in detail along with the table of contents:
Growing analog output requirement for high accuracy in the medical & healthcare industry will propel the market revenue
The analog output segment is estimated to attain a CAGR of5% till 2027. The industry progression is driven by low costs and high simplicity features, provided by analog output-based sensors. These features along with low power consumption and small size increase the demand for analog sensors in medical & healthcare devices such as ventilators, infusion pumps, and oxygen concentrators. In April 2020, Texas Instruments Incorporated launched humidity sensors with analog output. The new sensor offers absolute linearity from 0-100% in humid environments. The new sensor is designed for applications in consumer electronics, home appliances, and medical devices. Adding to this, the industry participants are integrating Analog to Digital (A/D) converters in their sensor offerings to improve output resolution & accuracy.
Proliferation of passenger cars will add opportunities for the market
The automotive segment accounted for 20% of revenue share in 2020 and will grow at a CAGR of 7% by 2027. The market growth can be attributed to the increasing usage of humidity sensors in various automotive systems such as dew-point system, automotive HVAC, and cabin climate control systems. These sensors also help to prevent windscreen fogging inside the vehicle cabin and are also used to monitor the air intake of passenger cars. The post COVID-19 phase increased the acceptance of passenger cars around the globe.
Favorable government funding to boost pharmaceutical manufacturing to impel the market expansion in North America
North America humidity sensors market is predicted to expand at more than 6.5% during 2021 to 2027 led by the presence of several pharmaceutical manufacturers including Moderna, Inc., Johnson & Johnson, AbbVie, Inc., and Merck & Co., Inc. These leaders are emphasizing on continuous R&D activities and the mass manufacturing of novel drugs and vaccines to combat the COVID-19 pandemic. The regional governments are focusing on providing funding to pharma companies.
The key players operating in the market include Honeywell International Inc., Sensirion AG, TE Connectivity, STMicroelectronics, and Texas Instruments Incorporated. Companies are extensively focusing on new product developments and launches to accelerate their product offerings in the market.