New York, Unites States, April 21, 2020 (GLOBE NEWSWIRE) -- COVID 19 impact analysis will be tricky since the pandemic is still on. New countries are getting added to the pandemic situation day by day. However, Research Dive can provide a “COVID-19 Dashboard” as an overall analysis particularly related to the market. The pointers to be added are as follows:
- Social impact- represent how the pandemic has stand still the normal life functioning.
- Technology impact: Companies and Value chain stakeholders are collaborating technology to support business functions
- Infrastructure analysis : Government support to the particular industry to safeguard the investor interest
- Innovation opportunity: What are the key innovations companies are enrolling to fight and sustain in the market.
The above pointers will be provided in qualitative analysis only.
The Dashboard Analysis can be immediately included in the TOC and sample of Upcoming titles. Preferable after the CXO analysis section! Kindly provide your desired area/ section.
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According to Research Dive, the global humidity sensor market revenue will reach $1,551.9 million by 2026, increasing at 7.5% CAGR from $870.1 million in 2018.
Drivers and Restraint of Market:
Rapid growth in the sales of vehicles across the globe is one of the key factor driving the growth of the humidity sensors market during the projected timeframe. Along with this the growing awareness among the importance of the humidity in the environment is boosting the market growth in the near future.
The factors such as inefficiency of the humidity sensors to measure the humidity in the places where the temperatures are below 0°C this is one of the key factors that is anticipated to hamper the market growth specifically in the regions where the environment conditions falls in negative temperatures.
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Market Segmentation:
Based on type, the global humidity sensor market is categorized into absolute humidity sensor and relative humidity sensor. Among these, the market for absolute humidity sensor segment held the largest share in 2018 valued for 60.0% and accounted for $522.1 million. Relative humidity sensor segment is expected to upsurge the market growth accounting for $577.3 million in 2026 growing at a CAGR of 8.3%. The growth is majorly due to the capability of relative humidity sensors to enhance the indoor air quality along with controlling moisture levels in the air.
On the basis of end-user, the humidity sensor market is divided into automotive, pharmaceutical & healthcare, industrial, building automation & domestic appliances, food & beverages, environmental, agriculture and others. Among the aforementioned segments the automotive segment accounted for the highest market share valued for 18.4% in the year 2018 accounting for $160.1 million and is expected to grow at a CAGR of 7.1% during the forecast period and anticipated to reach $277.8 million by 2026.
Regional Insights:
The global humidity sensor market has been classified into North America, Europe, Asia-Pacific, and LAMEA. The Asia-Pacific region is anticipated to dominate the humidity sensor market during the forecast period. Asia-Pacific market accounted for $221.0 million in 2018 and is anticipated to reach $405.0 million by 2026, growing at a CAGR of 7.9% during the projected timeframe. North America region led the global humidity sensor market size with over $244.5 million in 2018 and is projected to continue its dominance with a growth rate of 7.0% CAGR during the forecast period.
Top gaining participants of Global Humidity Sensor Market:
- General Electric Co.
- Honeywell International Inc.
- Sensirion AG
- Innovative Sensor Technology (IST) AG
- B+B Thermo-Technik GmbH
- E + E Elektronik GES.M.B.H
- Galltec Mess-und Regeltechnik GmbH
- Michell GmbH
- Arthur Grillo GmbH
- TE Connectivity
These key participants are concentrating on product improvements, mergers & acquisitions, collaborations and new product launches to gain majority of the market share in the overall humidity sensor industry.