|[April 22, 2018]
Top Emerging Trends in the Global Humidity Sensor Market | Technavio
Technavio's latest market research report on the global
humidity sensor market provides an analysis of the most
important trends expected to impact the market outlook from 2018-2022. Technavio
defines an emerging trend as a factor that has the potential to
significantly impact the market and contribute to its growth or decline.
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Technavio has published a new market research report on the global humidity sensor market from 2018-2022. (Graphic: Business Wire)
According to Technavio market research analysts, the global
humidity sensor market will grow at a CAGR of over 12% during
the forecast period. Government regulations and vehicle emission control
in the automotive segment is a major factor driving the market's growth.
In several countries, governments and regulatory organizations are
implementing safety and emission control standards, which require the
installation of sensors such as humidity sensors in cars. Automotive
manufacturing companies must comply with these safety and emission
control regulations set by the authorities. During the forecast period,
this trend is expected to boost the demand for humidity sensors.
Humidity sensors have a variety of applications, which is driving its
high adoption for different types of cars such as electrical, hybrid,
and driverless cars.
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In this report, Technavio highlights the growing trend of IoT as one of
the key emerging trends in the global humidity sensor market:
Growing trend of IoT
Connecting electronic devices to the Internet, and thereby, facilitating
data transfer over a wireless (or wired) network is known as IoT. This
technology is popular because it needs minimum human intervention.
Devices required for this technology should have sensors, such as
humidity sensors, which will play a key role in mobile sensing, ensuring
that the technology delivers an efficient performance. IoT integrates
technologies such as data communication, hardware design, as well as
data storage and mining.
"As sensors form the very foundation of enhanced security and minimum
human intervention, IoT will make extensive use of sensor technology.
Moreover, IoT will be mostly used in wearables, smart homes, industrial
automation, and automated cars. For smart management, humidity sensors
would be used in buildings. HVAC systems also implement these sensors.
Humidity controls, when integrated with other solutions, can provide
data on hot and cool pockets in a building to optimize the use of HVAC.
Hence, the market for humidity sensors are expected to grow further with
the proliferation of IoT," says a senior analyst at Technavio for
research on sensors.
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Global humidity sensor market segmentation
This market research report segments the global humidity sensor market
into the following applications, including industrial applications,
consumer electronics, HVAC systems, climate and test chambers, and oil
and gas and key regions, including the Americas, APAC, and EMEA.
The industrial applications segment held the largest market share in
2017, accounting for nearly 38% of the market. The market share for this
application is expected to increase nearly 3% by 2022. The fastest
growing application is the consumer electronics, which will account for
nearly 26% of the total market share by 2022.
APAC was the leading region for the global
humidity sensor market in 2017, accounting for a market share of
nearly 40%. By 2022, APAC is expected to continue dominating the market
and register a positive growth.
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View source version on businesswire.com: https://www.businesswire.com/news/home/20180422005075/en/
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