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The global humidity sensor market was valued at US$ 1.1 Bn in 2018 and is expected to reach US$ 1.9 Bn by the end of the forecast period, growing at a CAGR of 11.5% during the period from 2018 to 2023.
Key Trends observed in the Market: Segment: End-use industry Impact: Positive Trend: Growing government regulations and vehicle emission control regulations in the automotive segment are accelerating the humidity sensor market growth. In various countries, governments and regulatory organizations have implemented several safety and emission control standards that require the installation of humidity sensors in cars for safety. The automotive manufacturing companies have to fulfill the safety and emission control regulations set by the concerned authorities. This trend is expected to further propel the demand for humidity sensors. Humidity sensors have a variety of applications and this is driving its adoption in different types of cars such as electrical, hybrid, and driverless cars.
Segment: Product Impact: Positive Trend: HVAC units and distribution system are the key parts for the cabin climate control function. For the comfort of passengers and drivers, a particular amount of conditioned air at required temperature and humidity levels is being delivered to the target locations. The adequate flow delivery is very essential for the safe process of a vehicle with added capabilities. Moreover, the rising demand for luxury passenger cars in developed countries is fostering the humidity sensor market. For instance, in the US, there is a high demand for luxury cars that primarily focus on the convenience and comfort of the passenger. In addition to these, premium vehicles and utilities will continue to drive the sales of light vehicles, which will further increase the demand for humidity sensors over the coming years.
Years Considered During the Study: Historical Year: 2016 and 2017
Base Year: 2018
Forecast Period: 2019 to 2023
The global humidity sensor summary report includes the market definitions of all segments and sub-segments covered into the research scope of the study. The Summary report comprises the key market drivers and challenges and future opportunities impacting the global market trends, along with the quantitative analysis of the global industry.
The Excerpt summary of all the segments at the global level will give you a bird's eye view on market dynamics of each segment and sub-segment at the global level. The Summary report also includes the Humidity Sensor ecosystem analysis, which contains the market information of its preceding and dependent industries as per the base year 2018.
The Summary report includes the competitive benchmarking of key players operating in the market. The key players dominating the humidity sensor market include CTS Corporation, BEI Sensors, Aptina Imaging Corporation, Corrsys-Datron Sensorsystem GmbH, Kavlico Corporation, Freescale Semiconductor Inc., Denso Corporation, Autoliv Inc., Continental AG, Delphi Corporation, Bourns Inc., and others.
Key Questions Answered in the Report: • What is the overall size of the Humidity sensor market at the global level? • How has the market evolved in the past five years? • How is the market expected to shape up in terms of value during the forecast period? • What are the microeconomic and macroeconomic factors impacting the overall growth of the market? • What are the major key factors driving and restraining the market? • What are the possible growth opportunities for the market?
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