According to the report “Humidity Sensor Market by Product, Type, and End Use: Opportunity Analysis and Industry Forecast, 2020-2027”, published by Allied Market Research, the global humidity sensor market was valued at $4.07 billion in 2019, and the market size is projected to reach $11.85 billion by 2027, growing at a CAGR of 14.2% from 2020 to 2027. In 2019, Asia-Pacific dominated the market, contributing more than 50% share of the overall revenue, followed by North America. Factors such as increase in demand for small-sized humidity sensor, surge in installation of personal weather stations, and developments in the automotive sector drive the growth of the global humidity sensor market. According to Shantanu Sachan, Lead Analyst, Semiconductor and Electronics at Allied Market Research, “the increase in adoption of IoT and AI is one of the major humidity sensor market trend fuels the growth of the global humidity sensor market. In addition, the leading market players are investing in R&D in developing ultra-thin and miniaturized humidity sensors owing to upsurge in demand for ultra-thin and compact electronics. However, these factors are technically challenging market players to improve the technical specifications of humidity sensors in terms of changing and rigorous environment in which these sensors perform. Moreover, these improved sensors are to be integrated with other electronics with ease and efficiency. In addition, there is a rise in popularity for electric vehicles with improved air conditioning system for passengers as well as well-maintained environment for electronic components. This propels the growth of the humidity sensor market”.
