New York, Nov. 14, 2022 (GLOBE NEWSWIRE) -- The Insight Partners has added a latest report titled on “Encoders Market Size, Share, Trends to 2027 - COVID-19 Impact and Global Analysis and Forecasts by Type (Linear Encoder, Rotatory Encoder); Technology (Optical, Magnetic, Others); End User (Aerospace, Automotive, Food and Beverages, Printing, Consumer Electronics, Medical, Others)”, the global encoders market growth is fuelled by rising demand for IoT, increased use of industrial robotics in manufacturing process and growing industrial automation across industries. The encoder market is further anticipated to surge in the APAC region with the rise in the number of industries coupled with the rapid increase in the demand for various products that is compelling industry players to adopt high-end automation solutions.
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Global Encoders Market Report Scope:
| Market Size Value in | USD 1.74 billion in 2020 |
| Market Size Value by | USD 3.44 billion by 2027 |
| Growth rate | CAGR of 10.2% from 2020-2027 |
| Forecast Period | 2020-2027 |
| Base Year | 2020 |
| No. of Pages | 204 |
| No. of Tables | 143 |
| No. of Charts & Figures | 85 |
| Historical data available | Yes |
| Segments covered | Type; Technology; End User |
| Regional scope | North America, Europe, Asia Pacific, Middle East & Africa, South & Central America |
| Country scope | US, Canada, Mexico, UK, Germany, Spain, Italy, France, India, China, Japan, South Korea, Australia, UAE, Saudi Arabia, South Africa, Brazil, Argentina |
| Report coverage | Revenue forecast, company ranking, competitive landscape, growth factors, and trends |
Encoder Market: Competitive Landscape and Key Developments
Delta Electronics, Inc., Dahua Technology CO., Ltd, Omron Corporation, ELCO Holding, FRABA B.V., FSI Technologies Inc., Renishaw Plc., Rockwell Automation, Inc., Scancon Encoders A/S, and Servotechnik GmbH. are among the leading players profiled in the Encoder market report. Several other essential market players were analyzed for a holistic view of the market and its ecosystem. The report provides detailed market insights, which help the key players strategize their growth. A few developments under Encoder market are mentioned below:
In February 2020: FRABA’s subsidiary POSITAL has extended its product portfolio of rotary encoders and inclinometers to include more devices with IP69K level environmental protection. They are available with a comprehensive range of mechanical options and communications interfaces.
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In March 2019: FRABA’s subsidiary POSITAL introduced the deployment of 2- and 4-wire versions of the single-cable BiSS Line interface for its kit encoder products. The integration of single-cable connectivity and kit encoders offers machine builders, motor manufacturers, and system integrators a cost-effective way of building accurate feedback into devices such as stepper motors, servomotors, and robotic joints.
Global Encoder Market: Industry Overview
The Encoder market share has been segmented based on type, technology, and geography. Based on type, the Encoder market size is segmented into linear encoder and rotary encoder. Based on technology, the Encoder market is segmented into magnetic and optical. In terms of end-user, the Encoder market is segmented into aerospace, automotive, food & beverages, medical, printing, consumer electronics, and printing. Based on geography, the Encoder market is segmented into North America, Europe, Asia Pacific (APAC), the Middle East & Africa (MEA), and South America (SAM).
The encoder market share in the Asia Pacific has been analyzed based on historical, current, and future trends in countries across the region. The key countries analyzed include Australia, China, India, Japan, South Korea, and Rest of APAC. The encoder market players in the region are experiencing significant demand for their products, as the demand for encoders is comparatively high across industries. Most of the countries in the region are economically developing, and thus, the investment towards advanced technologies is higher. This is facilitating the encoder market players to experience higher demand. China and Japan are the leading countries in the APAC encoder market. The key reason behind significant demand in the above-mentioned countries is the steep rise in industrialization. The adoption of high-end automation solutions among various industries in China and Japan is a key parameter identified for the growing demand for encoder market.
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Growing Demand for IoT to Provide Lucrative Opportunities for Global Encoder Market Growth during (2020-2027):
Various industries are highly emphasized in integrating advanced technologies, which includes advanced analytics high-performance computing and the Internet of things (IoT) to manufacturing systems to enhance manufacturing processes, which would result in better-quality products that will be available at lower costs. In factories, various machines and devices are interconnected and monitored to enhance efficiency and productivity. The application of these advanced technologies for manufacturing represents a key enabler for addressing challenges in manufacturing procedures. IoT is considered an enabling technology for the manufacturing process, which is contributed to the growth of industry 4.0. The IoT and the ability to harness sensor data and automation technologies are revolutionizing the way machines capture data. Such advances are creating several business opportunities for encoders vendors to adopt new technologies. CUI Devices, an electronic component manufacturer, offers ASIC-based AMT encoders, which integrates valuable diagnostic and programming tools, which speed the time to market and mitigate machine downtime in the field. The technology enables us to determine if the encoder is operating accurately. The diagnostic data is used to make more reliable systems and monitored over time in order to offer performance trends that can be analyzed and used to forecast failures. Thus, the integration of IoT technologies helps to track the performance in real-time; companies across the world are heavily investing in IoT technology to gain traction in the market. Hence, the growing demand for IoT is anticipated to bolster the global encoder market growth.
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The US, Canada, and Mexico are major economies in North America. The continuous advancement in technological landscape has headed to a highly competitive encoder market size across the region as the growing populations attract several technological research and developments due to high spending powers. Previously, the consumer electronics industry has blossomed and has reached a matured level in the region. By the year 2019, the electronics industry in the region witnessed a slow growth as compared to the previous year. The number of consumer electronic devices across the region is quite high. The adoption rate of smartphones, personal computers, tablets, music players, television sets, DVD players, and other home-based electronic devices have established a broader user base in the region. The integration of encoders enhances the efficiencies in these consumer electronic devices, and hence, higher numbers of device manufacturers in the North American region are using these encoders for integration. FSI Technologies Inc., Rockwell Automation, Inc., Encoder Products Company, and Dynapar are some of the significant encoder manufacturers present in the North American encoder market growth.
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