Transparency Market Research
Global Digital Temperature and Humidity Sensor Market: Snapshot
The global digital temperature and humidity sensor market has been registering attractive strides from the growing use of the technology in high-volume consumer electronics applications. A case in point is the automotive sector. The sensor technology helps in meeting the various performance requirements of light vehicles in the industry. There have been growing deployment of cost-effective wireless technologies in vehicles in cost-sensitive markets. The use of digital temperature and humidity sensor helps to improve the performance of vehicles, given the ease of integration of the technology in limited space.
Growing need for making powertrain of these vehicles more fuel-efficient is bolstering the prospects of the market. Digital temperature and humidity sensor also help boost the performance of body electronics. In addition, growth of electronics content per vehicle is also bolstering the prospects in the market. A large stride in the digital temperature and humidity sensor market will come from the growing demand electric vehicles, especially in several emerging economies. The market is likely to suffer from the lack of effective collaboration and tie-ups between semiconductor manufacturers and OEMS. However, a burgeoning aftermarket segment might address some of these concerns in the coming few years. The market is also garnering gains from growing number of research and development activities to improvise on sensors used for au motive applications. Notable effects are in the area of controls or display capabilities of automotive that use digital temperature and humidity sensor.
The digital temperature and humidity sensor market is expected to expand at a higher growth rate in the forecast period owing to the increasing demand of digital temperature and humidity sensor in across diverse range of applications in consumer electronics such as in printers, home appliances, smartphones/tablets and among others, healthcare, storage and logistic industries. Some of the features like compact design, high reliability, low cost, high accuracy and fastest time to response is a key force expected to drive the global digital temperature and humidity sensor market over the forecast period. Rising demand of consumer electronics and automotive is expected to spur the demand of digital temperature and humidity sensor is upcoming period. Introduction of IoT and automation process requires high performance digital temperature and humidity sensor and is expected to drive the demand of digital temperature and humidity sensor during forecast period. Additionally, Efforts are being taken by many companies to upgrade their research and development activities to analyze further application that is expected to generate profitable growth opportunities for the digital temperature and humidity sensor market in the forecast period.
The global digital temperature and humidity sensor market is segmented on the basis of product type, end user and region. On the basis of product type, the digital temperature and humidity sensor market has been segmented into low-cost digital temperature and humidity sensor, standard digital temperature and humidity sensor and high-end digital temperature and humidity sensor. Low-cost digital temperature and humidity sensor and designed to provide +/-3% RH humidity accuracy, whereas, standard digital temperature and humidity sensor is designed to offer +/-2% RH humidity accuracy and high-end version digital temperature and humidity sensor offers +/-1.8% RH humidity accuracy. By end user, the digital temperature and humidity sensor market has been segmented into consumer electronics, automotive, respiratory equipment, industrial automation, and other applications. High demand of digital temperature and humidity sensor in multimedia applications (smart home) and wearable devices is expected to contribute towards growth of the digital temperature and humidity sensor market.
In the region wise study, the global digital temperature and humidity sensor market has been segmented into North America, Europe, Asia Pacific, Middle East & Africa, and South America. Asia Pacific which comprises China, India, South Korea, Australia and other rising economies captured significant market share followed by North America and Europe in 2017. Asia Pacific showed the fastest growth rate during the forecast period due to the emerging economies. China represents huge potential for the digital temperature and humidity sensor with the low cost of raw materials and huge production facilities in the country. However, The U.S is expected to exhibit high market growth over the forecast period owing to its early technological advancement and high capital expenditure.
The global digital temperature and humidity sensor market is highly fragmented with number of companies operating in the segment. Leading players are currently focusing on providing cost competitive products and acquiring small companies to gain market share. Some of the companies operating in digital temperature and humidity sensor market are STMicroelectronics NV, ams AG, E+E Elektronik GmbH, TE Connectivity, Sensirion AG, Texas Instruments Inc., Silicon Laboratories, Inc., Honeywell Sensing and others.
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