Post COVID-19 Impact on Humidity Sensor Market -
With the emergence of the COVID-19 crisis, the world is fighting a health pandemic as well as an economic emergency, almost impacting trillions of dollars of revenues. Research Dive' group of skilled analysts provide a solution to help the companies to survive and sustain in this economic crisis. We support companies to make informed decisions based on our findings resulting from the comprehensive study by our qualified team of experts.
Our study helps to acquire the following:
• Long-term and short-term impact of Covid-19 on the market
• Cascading impact of Covid-19 on Humidity Sensor Market, due to the impact on its extended ecosystem
• Understanding the market behavior Pre- and Post-COVID-19 pandemic
• Strategy suggestions to overcome the negative impact or turn the positive impact into an opportunity
• We’ll help you fight this crisis through our business intelligence solutions.
Pre COVID-19 Analysis of Humidity Sensor Market -
According to a study conducted by Research Dive, the globalhumidity sensormarket forecast size is expected to reach$1,551.9million by the end of 2026, registering 7.5% CAGR over the forecast period.
Humidity sensor is a device used for detecting environmental humidity and is also called as hygrometer. This device plays a vital role in sensing, measuring, and recording the moisture & temperature of surrounding air. These sensors are made up of two metal plates. In between these two plates, there is a non-conductive polymer film that senses the moisture from the air and alters the existing voltage. These alterations in voltage are then converted to appropriate digital readings.
The humidity sensors have limited long term stability and the sensors cannot work efficiently under 0°C In addition, the limited measurement range is another key factor that is expected to hamper the growth of the global humidity sensors market during the forecasted period.
The global humidity sensormarket is divided on the basis of type into absolute humidity sensor and relative humidity sensors among others. Among these, the relative humidity sensor segment is anticipated to boost the global humidity sensormarket,which is anticipatedto reach $577.3million by 2026, growing at CAGR of 8.3% during the forecasted period. The growing necessity for relative humidity sensors is majorly due to the ability of the sensors to improve air quality and control moisture levels in the air.This is the key growth factor that is anticipated to drive the relative humidity sensor segment in the globalhumidity sensor market. However, absolute humidity sensor segment held the highest market value in the year 2018 accounting for $522.1million and is expected to reach $897.0million by 2026 growing ata CAGR of 7.0% during the projected years.
Top gaining participants of global humidity sensor market are General Electric Co., Michell GmbH,Honeywell International Inc., Galltec Mess-und Regeltechnik GmbH, Innovative Sensor Technology (IST) AG, Sensirion AG, Arthur Grillo GmbH, B+B Thermo-Technik GmbH, E + E Elektronik GES.M.B.H, and TE Connectivity many others. These key participants are concentrating on product improvements, mergers & acquisitions, collaborations and new product launches to gain majority of the market share in the overall humidity sensor industry.
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