According to the research report titled ‘Humidity Sensor Market Size By Product (Relative [Capacitive, Resistive], Absolute), By Output (Analog, Digital), By Application (Automotive, Industrial, Pharmaceutical & Healthcare, HVAC (Heating, Ventilation, and Air Conditioning) & Building automation, Agriculture, Environmental]), COVID-19 Impact Analysis, Regional Outlook, Growth Potential, Competitive Market Share & Forecast, 2021 – 2027’, available with MarketStudyReport, global humidity sensor market is estimated to record a notable CAGR over the forecast period 2021-2027.

As per the report findings, fast paced integration of novel technologies like AI, machine learning, and IoT is primarily driving global humidity sensor market growth. Moreover, increasing product adoption in the automotive sector is expected to further boost market expansion over the analysis timeline.

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For the unversed, a humidity sensor is an electronic device that reports and calculates moisture & air temperature in the environment, such as in soil, air, or closed spaces. The device then transmits these readings in the form of electrical signals.

Factors such as the growing popularity of vertical & precise farming methods in the agriculture sector, surging adoption of these devices for building automation & HVAC, along with increasing preference for smart homes in developing countries are positively swaying the industry outlook.

However, device inaccuracy in terms of offset errors and non-linearity are likely to restrain the potential remuneration prospects in the upcoming years.

Based on application scope of worldwide humidity sensor industry, the pharmaceutical & healthcare segment is predicted to record 5% CAGR over the analysis timeframe, owing to growing product use in wearables and non-invasive devices.

From a regional frame of reference, Middle East & Africa market is estimated to deliver a CAGR of 4.5% over 2021-2027. This can be attributed to increasing government initiatives aimed at boosting the development of the region’s manufacturing sector.

Considering the competitive landscape, companies such as Sensirion AG, Schneider Electric SE, Omron Corp., OHMIC Instruments Inc., Michell GmbH, IST (Innovative Sensor Technology) AG, Honeywell International Inc., Galltec Mess- und Regeltechnik GmbH, E + E ELEKTRONIK GmbH, Bosch Sensortec GmbH, B+B Thermo-Technik GmbH, Arthur Grillo GmbH, ANDIVI d.o.o., Amphenol Corp., and Alps Alpine Co. Ltd. are prominently influencing global humidity sensor market trends.