New York, March 29, 2023 (GLOBE NEWSWIRE) -- By 2032, it is anticipated that the global market for digital temperature and humidity sensors would be worth US$ 5.3 billion. In 2022, Digital Temperature and Humidity Sensor Market Revenue of US$ 2.6 billion was anticipated. From 2023 to 2032, it is anticipated to exhibit consistent growth at a CAGR of 7.2%.
Devices that detect moisture are seen to be a crucial part of the connected world of today. More and more uses throughout a person's life depend on these sensors for various purposes.
The market is expected to rise as a result of these devices' increasing use in moisture-sensitive applications. These sensors are used in numerous industries, including healthcare, food & beverage, and textile. Regulations requiring the use of these detectors in industries such as food processing, publishing, and weaving have been imposed by authorities of key countries.
For instance, the Food Safety and Standards Authority of India (FSSAI) has made the use of these sensors mandatory in the food & beverage industry. High moisture content could lead to contamination and poor product quality. The organization is equally committed to developing innovative relative humidity sensor products that are comparable to those based on infrared technology.
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Sensors that can track and communicate environmental factors such as temperature and humidity in real-time are becoming increasingly important. It's a result of increased automation and use of the internet of things (IoT). To offer precise data for analysis and control, digital temperature and humidity sensors can be integrated into automated systems and IoT devices.
In several industrial applications, digital temperature and humidity sensors are frequently employed. They include the manufacturing of automobiles, food processing, pharmaceuticals, and heating, ventilation, & air conditioning systems. Preservation of ideal conditions for procedures, product quality, and safety depends heavily on these sensors.
Key Takeaways from Digital Temperature and Humidity Sensor Market Study
- The USA digital temperature and humidity sensor market is expected to be worth US$ 826.8 million by 2032.
- The United Kingdom digital temperature and humidity sensor market is projected to surpass US$ 134.4 million by 2032.
- The humidity sensor segment by sensor type is likely to bolster at a CAGR of 7.1% from 2022 to 2032.
- The body electronics segment by application is predicted to witness prominent growth at a CAGR of 7.0% from 2022 to 2032.
- China digital temperature and humidity sensor market is expected to be worth US$ 1.3 billion by 2032.
“Need for humidity sensors is anticipated to increase due to growing use in industries such as healthcare, food, beverage, and textiles. Usage of humidity sensors in these industries is mandated by severe laws that have been implemented by governments.” – Says a lead analyst.
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Competitive Landscape: Digital Temperature and Humidity Sensor Market
Key Companies-
Analog Devices, Inc, Continental AG, BorgWarner Inc., TDK Corporation, Honeywell International, TE Connectivity, Melexis NV, NXP Semiconductors, ON Semiconductor Corporation, Robert Bosch GMBH, Sensata Technologies, Inc., Sensirion AG, STMicroelectronics, Texas Instruments and more
Market competition for digital temperature and humidity sensors is average. In the past five years, it has improved its scenario.
High expenditures are being made in research work by leading market participants. As their key strategy to keep and increase their share, they are also introducing unique products.
They are focusing on developing state-of-the-art infrared-based humidity level sensor solutions. They are emphasizing expanding their manufacturing capabilities as part of their efforts to strengthen their position.
For instance,
- In March 2020, Honeywell Inc. launched Inncom E series wireless thermostat solution. It can help reduce energy costs by up to around 25% to 40% energy. It has built-in occupancy, temperature, and humidity sensors. It can also adjust the temperature according to the number of people seated.
Get More Exclusive Insights into Digital Temperature and Humidity Sensor Market Study
Persistence Market Research (PMR), in its new offering, presents an unbiased analysis of the digital temperature and humidity sensor market, presenting historical market data (2017 to 2021) and forecast statistics for the period of 2023 to 2032.
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The study reveals extensive growth in the digital temperature and humidity sensor market in terms of sensor type (temperature sensor, humidity sensor), technology (micro electro-mechanical systems, complementary metal oxide semiconductors, thin film polymer), packaging type (surface mount technology, pin type packaging), application (power train, body electronics), and regions.
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