Digital Temperature And Humidity Sensor Market- Industry Analysis, Market - Forecast(2024 - 2030)

Report Code: ESR 18468 Report Format: PDF + Excel

Digital Temperature and Humidity Sensor Market Overview

Digital Temperature and Humidity Sensor Market size is estimated to reach $8.3 billion by 2030 at a CAGR 9.7% during the forecast period 2024-2030. The growth of Digital Temperature and Humidity Sensor Market is majorly attributed to the rising demand for integrated humidity and temperature sensors to provide high accuracy measurements with low power requirements in order to simplify asset monitoring solutions preventing from premature equipment failure. Increasing penetration of digitalization in sensing technology is estimated to drive Digital Temperature and Humidity Sensor Market. The burgeoning demand for advanced electronics products for consumer electronics including smartphones, smart wears or smart home applications is significantly triggering the market. Presence of temperature sensors integrated with heating, ventilation air conditioning (HVAC) system in autonomous cars or electric vehicles are also contributing to the Digital Temperature and Humidity Sensor Market growth.

Technological advancements in sensor types, technologies, and packaging are driving increased accuracy and efficiency in the Digital Temperature and Humidity Sensor Market. These innovations ensure precise temperature measurements, leading to improved product quality, streamlined processes, and enhanced competitiveness for businesses in various industries. Additionally, Digital temperature sensors are now seamlessly integrated with IoT systems, enabling businesses to monitor and control temperature in real-time. This integration enhances operational efficiency, ensures product quality, and enables predictive maintenance, leading to cost savings and improved customer satisfaction in various industries.

Market Snapshot:

Digital Temperature and Humidity Sensor Market

Digital Temperature and Humidity Sensor Market Report Coverage

The report “Digital Temperature and Humidity Sensor Market – Forecast (2024-2030)”, by IndustryARC covers an in-depth analysis of the following segments of the Digital Temperature and Humidity Sensor Market

By Sensor: Temperature (Capacitive Temperature Sensor, Resistive Temperature Sensor, Temperature Switch, Thermostat, and Fan Controller IC), Humidity (Capacitive Humidity Sensor, Resistive Humidity Sensor)

By Technology: Contact, Non-Contact

By Usage: Gas, Liquid, Air

By Application: Powertrain, Body Electronics, Smart Utility, Smart Home, Control and Automation, Medical Devices, HVAC and Others

By End User: Automotive, Aerospace, Agriculture, Power, Utility, Oil & Gas, Mining, Healthcare, Chemical, Food & Beverage, Retail & Consumer Goods, Warehouse & Logistics, Enterprise, Residential/Consumer, Industrial and Others

By Geography: North America (U.S., Canada, Mexico), South America (Brazil, Argentina, Chile, Colombia, and Rest of South America), Europe (UK, Germany, France, Italy, Spain, Netherlands, Rest of Europe), APAC (China, Japan, South Korea, India, Australia & New Zealand, Thailand, Malaysia and Rest of APAC) and RoW (Middle East and Africa).

Key Takeaways

  • APAC is estimated to be the fastest growing market during 2024-2030 with a CAGR of 11.5% owing to high investments in industrialization and digitalization.
  • Among industrial sectors, Utility sector is analyzed to be the fastest growing market with a CAGR of 12.1% due to increasing penetration of smart utility leveraging real-time monitoring platform. Consumer sector is estimated to witness the highest growth due to burgeoning demand for advanced electronic devices for smart home applications.
  • Increasing demand for IoT sensors in automotive sector and increasing penetration of smart utility are driving the market.
  • High capital expenditure is one of the challenges impeding the market growth.

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Digital Temperature and Humidity Sensor Market Segment Analysis – By Application

By application in Digital Temperature Sensor, Smart home applications are estimated to witness significant growth due to rising demand for consumer electronics and increasing penetration of smart home appliances to control residential HVAC system. In June 2022, Renesas Electronics announced a new family of relative humidity, temperature sensors, and related solutions. The sensors provide high accuracy, fast measurement response time, and ultra-low power consumption in a small package size to support deployment in portable devices or products designed for harsh environments. Such innovations are set to drive the market from 2024 to 2030.

Digital Temperature and Humidity Sensor Market Segment Analysis – By End User

By end user Industrial sector is estimated to account for the largest market share of more than 27.5% in 2023. Among industrial sector, Automotive is analysed to witness a significant growth between 2024 and 2030 due to the rising demand for powertrain, body electronics and alternative fuel vehicle. Utility sector is estimated to witness the highest growth with a CAGR of 12.9% during 2024-2030 due to increasing demand for real-time thermal monitoring of mission critical applications to optimize performance and efficiency. In September 2023, E+E Elektronik launched the HTS801, a new humidity and temperature sensor. The sensor features a heat-able sensing element for accurate measurements and ensures long-term stability under challenging conditions. Such developments are estimated to significantly trigger the market growth during the forecast period 2024-2030. Consumer sector is analysed to witness significant growth from 2024 to 2030 due to rising demand for smart sensors for smart home applications.

Digital Temperature and Humidity Sensor Market Segment Analysis – By Geography

By Geography, Digital Temperature and Humidity Sensor Market is segmented under North America, Europe, APAC, South America and RoW. APAC is estimated to be the fastest growing market with a CAGR of 11.5% owing to heavy industrialization and transition towards digitalization. According to International Monetary Fund, The Asia-Pacific region remains a key driver of global growth in 2023. Growth in the region increased to 4.6 percent in 2023 from 3.9 percent in 2022. North America is estimated to hold a significant amount of market share at 37.1% during the forecast period 2024-2030 owing to high government investments in smart grid infrastructure and continuous up-gradation of existing infrastructure towards latest technology. With the U.S. Department of the Interior planning to allow offshore exploratory drilling in about 90% of the Outer Continental Shelf (OCS) acreage under the National Outer Continental Shelf Oil and Gas Leasing Program (National OCS Program) for 2019-2024, the oil and gas sector in the region is expected to open up new opportunities to the market.

Digital Temperature and Humidity Sensor Market Drivers

Increasing demand for IOT sensors in Automotive Vehicles

Increasing adoption of autonomous cars and electric vehicles is set to drive the market during the forecast period 2024-2030. Rising demand for intelligent sensors in automotive sector enabling data conversion, digital processing to create a robust thermal management solution ensuring safety of critical applications is propelling the market. Growing demand for faster data processing and instantaneous reliable decision making to simplify asset monitoring solution with minimum human intervention is analyzed to significantly trigger the growth of the market during 2024-2030. In June 2023, Digital Matter launched the Hawk solution using the Nordic nRF9160 SiP, enabling cellular IoT data logging with temperature sensors. The Hawk supports LTE-M/NB-IoT connectivity, enhancing temperature monitoring capabilities Such innovations are steering the market.

Increasing adoption of smart sensors in smart utility

Increasing convergence of utility sector with digitalization to deliver an intelligent digital grid management system has contributed to the growth of the market. Growing demand for deployment of Advanced Metering Infrastructure (AMI) and Distribution Automation (DA) has significantly triggered the market. Increasing penetration of smart sensors in utility sector enabling transmission of data and communication with external devices to optimize power generation, transmission and distribution is poised to drive the market. Massive and quick adoption of smart meters for smart home applications is also set to steer the Digital Temperature and Humidity Sensor Market. In March 2022 Honor launched Earbuds 3 Pro with integrated temperature monitoring technology. Honor's buds would include a temperature sensor combined with an AI temperature algorithm. Such product launches are augmenting the market.

Digital Temperature and Humidity Sensor Market Challenges

High Capital Expenditure

Digital Temperature Sensor installation includes high capital expenditure due to rising costs of intelligent electronic devices. Many enterprises are reluctant to adopt this advanced monitoring system due to budget constraint and thus restraining the growth of the market.

Digital Temperature and Humidity Sensor Market Landscape

Technology launches, acquisitions, Partnerships and R&D activities are key strategies adopted by players in the Digital Temperature and Humidity Sensor Market. In 2023, the market of Digital Temperature Sensor industry outlook has been fragmented by several companies. Digital Temperature Sensor top 10 companies include Texas Instruments Incorporated, Microchip Technology Inc., Continental AG, NXP Semiconductor N.V., Analog Devices, Inc., Sensirion AG, Robert Bosch GmbH, Melexis NV, Semiconductor Components Industries, LLC, AVTECH Software, Inc. among others.

Acquisitions/Technology Launches

  • In July 2022, Apple incorporated temperature sensors into its Apple Watch, aiming to notify wearers of potential fevers caused by elevated body temperatures. This integration underscores the growing demand for digital temperature sensors in wearable technology, enhancing health monitoring capabilities
  • In November 2022, Sciosense introduced the ENS21x family of high-performance digital temperature and humidity sensors. This launch highlights the advancement in digital temperature sensor technology, catering to the growing demand for accurate environmental monitoring solutions in various industries. 

 

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1. Digital Temperature and Humidity Sensor Market – Market Overview 
    1.1. Definitions and Scope
2. Digital Temperature and Humidity Sensor Market – Executive Summary 
    2.1. Market Revenue, Market Size and Key Trends by Company
    2.2. Key Trends by Type of Application
    2.3. Key Trends Segmented by Geography
3. Digital Temperature and Humidity Sensor Market
    3.1. Comparative analysis
        3.1.1. Product Benchmarking – Top 10 Companies
        3.1.2. Top 5 Financials Analysis
        3.1.3. Market Value Split by Top 10 Companies
        3.1.4. Patent Analysis – Top 10 Companies
        3.1.5. Pricing Analysis
4. Digital Temperature and Humidity Sensor Market – Startup Companies Scenario
    4.1. Top 10 Startup Company Analysis by
        4.1.1. Investment
        4.1.2. Revenue
        4.1.3. Market Shares
        4.1.4. Market Size and Application Analysis
        4.1.5. Venture Capital and Funding Scenario
5. Digital Temperature and Humidity Sensor Market – Industry Market Entry Scenario Premium  
    5.1. Regulatory Framework Overview
    5.2. New Business and Ease of Doing Business Index
    5.3. Case Studies of Successful Ventures
    5.4. Customer Analysis – Top 10 Companies
6. Digital Temperature and Humidity Sensor Market — Market Forces
    6.1. Drivers
    6.2. Constraints
    6.3. Challenges
    6.4. Porter’s Five Force Model
        6.4.1. Bargaining Power of Suppliers
        6.4.2. Bargaining Power of Customers
        6.4.3. Threat of New Entrants
        6.4.4. Rivalry Among Existing Players
        6.4.5. Threat of Substitutes
7. Digital Temperature and Humidity Sensor Market – Strategic Analysis
    7.1. Value Chain Analysis
    7.2. Opportunities Analysis
    7.3. Product Life Cycle
    7.4. Suppliers and Distributors Market Share
8. Digital Temperature and Humidity Sensor Market – By Type (Market Size – $Million/$Billion)
    8.1. Market Size and Market Share Analysis
    8.2. Application Revenue and Trend Research
    8.3. Temperature
        8.3.1. Capacitive Temperature Sensor
        8.3.2. Thermostat
        8.3.3. Temperature Switch
        8.3.4. Fan Controller IC
        8.3.5 Resistive Temperature Sensor
        8.3.6. Others
    8.4 Humidity
        8.4.1 Capacitive Humidity Sensor
        8.4.2 Resistive Humidity Sensor
9. Digital Temperature and Humidity Sensor Market – By Technology (Market Size – $Million/$Billion)
    9.1. Non-Contact
    9.2. Contact (Local)
10. Digital Temperature and Humidity Sensor Market – By Usage(Market Size – $Million/$Billion)
    10.1. Introduction
    10.2. Gas
    10.3. Liquid
    10.4. Air 
11. Digital Temperature and Humidity Sensor Market – By Application (Market Size – $Million/$Billion)
    11.1. Automotive
        11.1.1. Telematics
        11.1.2. Displays
        11.1.3. Dashboards
        11.1.4. Electronic Systems
        11.1.5. Battery packs
        11.1.6. Engine
        11.1.7. Others (EV/HEV, Charging Station, Powertrain (Inverter), Airflow Sensing, Climate Control, Xenon Lighting)
    11.2. Medical
        11.2.1. MRI imagers
        11.2.2. Portable ultra sound scanners
        11.2.3. Others (Wearables (medical), X-Ray, Thermometers) 
    11.3. Consumer Electronics
        11.3.1. Mobile devices (Phones, Wearables (Non-Medical),  Handheld Gaming Consoles)
        11.3.2. Tablets
        11.3.3. Cameras
        11.3.4. Refrigerators
        11.3.5. Microwave ovens
        11.3.6. Data loggers
        11.3.7. Others (Servers, Smart Thermostat, Smart Meter, Gaming Consoles, PCs (incl. Peripherals) and other Smart Home Devices)
    11.4. Automation
12. Digital Temperature and Humidity Sensor Market – By Geography
    12.1. Digital Temperature and Humidity Sensor Market – Americas Segment Research
    12.2. North America Market Research (Market Size — $Million/$Billion)
        12.2.1. Segment Type Size and Market Size Analysis 
        12.2.2. Revenue and Trends
        12.2.3. Application Revenue and Trends by Type of Application
        12.2.4. Company Revenue and Product Analysis
        12.2.5. North America Product Type and Application Market Size
                12.2.5.1. U.S.
                12.2.5.2. Canada
                12.2.5.3. Mexico
    12.3. Digital Temperature and Humidity Sensor Market – Europe Segment Research
    12.4. Europe Market Research (Market Size – $Million/$Billion)
        12.4.1. Segment Type Size and Market Size Analysis 
        12.4.2. Revenue and Trends
        12.4.3. Application Revenue and Trends by Type of Application
        12.4.4. Company Revenue and Product Analysis
        12.4.5. Europe Segment Product Type and Application Market Size
                12.4.5.1. Germany
                12.4.5.2. U.K.
                12.4.5.3. France
                12.4.5.4. Italy
                12.4.5.5. Spain
                12.4.5.6. Russia
                12.4.5.7. Netherlands
                12.4.5.8. Rest of Europe
    12.5. Digital Temperature and Humidity Sensor Market – APAC Segment Research
    12.6. APAC Market Research (Market Size – $Million/$Billion)
        12.6.1. Segment Type Size and Market Size Analysis
        12.6.2. Revenue and Trends
        12.6.3. Application Revenue and Trends by Type of Application
        12.6.4. Company Revenue and Product Analysis
        12.6.5. APAC Segment – Product Type and Application Market Size
                12.6.5.1. China
                12.6.5.2. Japan
                12.6.5.3. India
                12.6.5.4. South Korea
                12.6.5.5. Australia & New Zealand
                12.6.5.6. Thailand
                12.6.5.7. Malaysia
                12.6.5.8. Rest of Asia-Pacific
    12.7. Digital Temperature and Humidity Sensor Market – South America Segment Research
    12.8. South America Market Research (Market Size — $Million/$Billion)
        12.8.1. Segment Type Size and Market Size Analysis 
        12.8.2. Revenue and Trends
        12.8.3. Application Revenue and Trends by Type of Application
        12.8.4. Company Revenue and Product Analysis
        12.8.5. South America Product Type and Application Market Size
                12.8.5.1. Brazil
                12.8.5.2. Argentina
                12.8.5.3. Colombia
                12.8.5.4. Chile
                12.8.5.5. Rest of South America
    12.9. Digital Temperature and Humidity Sensor Market – RoW Segment Research
    12.10. RoW Market Research (Market Size – $Million/$Billion)
        12.10.1. Segment Type Size and Market Size Analysis 
        12.10.2. Revenue and Trends
        12.10.3. Application Revenue and Trends by Type of Application
        12.10.4. Company Revenue and Product Analysis
        12.10.5. RoW Segment – Product type and Application Market Size
                12.10.5.1. Middle East
                12.10.5.2. Africa
13. Digital Temperature and Humidity Sensor Market — Market Entropy 
    13.1. New Product Launches
    13.2. M&As, Collaborations, JVs and Partnerships
14. Digital Temperature and Humidity Sensor Market – Industry/Segment Competition Landscape 
    14.1. Market Share Analysis
        14.1.1. Market Share by Country — Top Companies
        14.1.2. Market Share by Region — Top 10 Companies
        14.1.3. Market Share by Type of Application – Top 10 Companies
        14.1.4. Market Share by Type of Product/Product Category – Top 10 Companies
        14.1.5. Market Share at Global Level — Top 10 Companies
        14.1.6. Best Practices for Companies
15. Digital Temperature and Humidity Sensor Market – Key Company List by Country Premium 
16. Digital Temperature and Humidity Sensor Market Company Analysis
    16.1. Texas Instruments Incorporated
    16.2. Microchip Technology Inc.
    16.3. Continental AG
    16.4. NXP Semiconductor N.V.
    16.5. Analog Devices, Inc.
    16.6. Sensirion AG
    16.7. Robert Bosch GmbH
    16.8. Melexis NV
    16.9. Semiconductor Components Industries, LLC
    16.10. AVTECH Software, Inc.
    
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