Potential Future of Humidity Sensor Market and Advancements in the humidity sensor technology is anticipated to drive the humidity sensor market

Humidity sensor, also known as hygrometer,is type of sensor that detects the surrounding moisture and transforms it into small electrical pulses. These electrical pulses are recorded, exhibited, and stored in the device to activate an alarm when the humidity rises at a certain level. Comprising of two metallic plates and a non-conductive film of polymer between them, this sensor registers humidity when the voltage between these two plates change. The polymer film absorbs the existing moisture in the air, which is blamable for causing minor voltage fluctuations between the two metallic plates. As per Research Dive blog, humidity sensors are widely used in printing & paper equipment, textile machineries, and woodworking equipment for measuring humidity in the air.

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1 Recent Developments in Humidity Sensor Industry

The technology is advancing and the top gaining players of the global humidity sensor industry are coming up with new strategies and products to strengthen the position of the market.

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2 Porter's Five Forces Analysis for Humidity Sensor Market:

o Bargaining Power of Suppliers: The key players present in this market arehighin numberdue to which the supplier's power is high.The bargaining power of suppliers is High.

o Bargaining Power of Consumers:The number of consumers is very high, and thus the bargaining power of consumers in high.The bargaining power of consumers is High.

o Threat of new entrants: Initial investment to develop ahumidity sensor device is very high, and thus the threat of new entrants is low.The threat of new entrants is Low.

o Threat of substitutes:
There is no alternative for humidity sensor, and thus the threat of substitutes is low.The threat of substitutes is Low.

o Competitive rivalry in the industry:
This market includes a manymarket participants. Many of the key players are following similar strategies for the improvement of technologies.The competitive rivalry in the industry is High.

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3 Humidity Sensor Market Segmentation by Type

o Absolute Humidity Sensor
o Relative Humidity Sensor
o Others

For instance, in March 2016, a leading manufacturer of temperature and humidity sensors, Sensirion, launched "STS3x". This industry-proven sensor technology offers increased intelligence, improved accuracy, and reliability compared to other sensors. Later, in November 2017, the company launched the upgraded version of STS3x, the "STS35" humidity sensor. This is the most versatile and accurate sensor of the STS3x series by Sensirion. This humidity sensor has been designed to fulfill the needs of the automotive and medical sectors.
In June 2017, Intel and Bosch came into partnership to introduce a tool of air quality monitoring. This tool uses sensors and software for rapidly and accurately measuring the air pollutants. It can also measure relative humidity, sound, light pressure, and temperature.

4 Humidity Sensor Market Segmentation by End-user

o Automotive
o Pharmaceutical & Healthcare
o Industrial
o Building Automation & Domestic Appliance
o Food & Beverages
o Environmental
o Agriculture
o Others

In October 2017, Bosch Sensortec launched its product"BME280", which is an integrated environment unit combining sensors for temperature, pressure, and humidity in a single package. One of the best feature of this sensor is its quick response time for excellent humidity determination, ambient temperature management, and low consumption of energy. This sensor is mainly designed for evolving high-performance applications such as fitness applications, indoor navigation, home automation control, etc.

In April 2019, Sensirion launched SVM30, which is a multi-gas, temperature and humidity module. This module is designed and developed for acceleratingthe sensor integration. It also delivers air quality output signals and regulated compensation of humidity cross-sensitivity.
In October 2019, a developer of medical sensors, Silicon Microstructures was acquired by TE Connectivity. The aim of TE Connectivity through this acquisition is to expand its market share in the expansion of integrated sensor products for industrial applications, medical, and transportation.

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5 Key Players

o Honeywell International Inc.
o General Electric Co.
o Sensirion AG
o B+B Thermo-Technik GmbH
o Innovative Sensor Technology (IST) AG
o E + E Elektronik GES.M.B.H
o Michell GmbH
o Galltec Mess-und Regeltechnik GmbH
o Arthur Grillo GmbH
o TE Connectivity

6 Potential Future of Humidity Sensor Market

Global humiditysensor market is estimated to experience a progressive growth during the forecast period. Technology is playing a crucial role in creating massive opportunities for the vendors in the global market. Increasing trend towards miniaturization of electronic devices is also predicted to drive the market growth from 2019 to 2026. However, high costs associated with these sensors is restricting the growth of humidity sensor market.

Advantages and advancements in humidity sensors is a significant factor giving substantial uplift to the growth of humidity sensor market in the coming years. As per the Research Dive report statistics, the industrial machine vision lens market is expected to reach up to $1,551.9 million by the end of 2026. Geographically, the North America region is likely to dominate the industry due to the presence of major market players in this region. In addition, the report profiles prominent players operating in the global market who are focusing more on technological developments and geographical expansion to maintain a strong position in the global industry.

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