Dublin, June 10, 2021 (GLOBE NEWSWIRE) – The “Global Encoders Market with Impact of COVID-19 by Type (Linear, Rotary), Technology (Optical, Magnetic, Inductive), Application (Automotive, Consumer Electronics, Industry, Energy, Healthcare), Signal Type, and Geography – Forecast to 2026” Report was added to ResearchAndMarkets.com to offer.
The global encoder market is expected to grow from $ 2.3 billion in 2021 to $ 3.7 billion by 2026 at a CAGR of 10%.
The growth of this market is mainly driven by the need for high-end automation in all industries, the increasing adoption of Industry 4.0 and the propensity for advanced technologies amid the COVID-19 pandemic.
However, factors such as accuracy issues, deviations in international regulations, and mechanical failures in harsh environments are holding back market growth.
Encoders will grow with the highest CAGR in the forecast period
The increasing demand for automated industrial machines and robotics is driving the growth of the encoder market. Rotary encoders are electromechanical devices with which the number of revolutions, the angle of rotation and the rotational position of devices are measured. These rotary encoders are also known as rotary encoders or simply rotary encoders.
They are used for position detection in various applications, for example for motors in combination with drives and automated machines in entertainment electronics, elevators, belt speed monitors, industrial machines and robotics. They track the rotation of motor shafts in order to generate digital position and movement information. Whether incremental or absolute, magnetic or optical, rotary encoders track the rotation of the motor shaft in order to generate digital position and movement information.
Rotary encoders are used in a variety of applications that require monitoring or control, or both, of mechanical systems, including industrial controls, robotics, photographic lenses, computer input devices, and rotating radar platforms.
Consumer electronics applications dominated the encoder market in 2020
Consumer electronics is one of the fastest growing encoder markets. In this industry, encoders are widely used in office equipment such as PC-based scanning equipment, printers, copiers, answering machines, and scanners. For example, many industrial inkjet printing systems are equipped with a rotary encoder to track the movement of the object being printed. This allows the print head to apply the image to a precisely controlled location on the object.
In addition, due to the rapid introduction of new technologies and the presence of many consumer electronics giants such as Apple (USA), Samsung Electronics (South Korea), Huawei (China), Sony Corporation (Japan), HP Inc. (USA).
The APAC market will grow with the highest CAGR during the forecast period
In 2020, APAC had a major share in the encoder market. The growth of the encoder market is primarily attributed to the increasing number of manufacturing and engineering hubs in various industries. The concept of autonomous, electric, and connected cars has fueled the growth of the automotive industry in APAC, particularly in China. The country’s auto industry is growing rapidly and the country plays an important role in the global auto market.
The increasing demand for energy efficient production processes, combined with the need for feedback systems, is expected to create opportunities for the encoder market in APAC. However, the pandemic has resulted in disruptions in supply chain activities, lost sales and a slowdown in manufacturing activities, which have greatly impacted market growth and ultimately impacted the economy.
Key topics covered:
2 research methodology
4 premium insights
4.1 Attractive growth opportunities for the encoder market
4.2 Encoders Market, By Encoder Type
4.3 Encoders Market by Technology
4.4 Encoder Market by Application
4.5 Encoders Market By Geography
5 Market overview
5.2 Market dynamics
126.96.36.199 Cross-industry need for high-end automation
188.8.131.52 Increase in the acceptance of Industry 4.0
184.108.40.206 Lean towards advanced technologies amid the COVID-19 pandemic
220.127.116.11 Accuracy problems
18.104.22.168 Deviations in international regulations
22.214.171.124 Increasing demand for systems based on artificial intelligence
126.96.36.199 Upcoming technologies in the automotive industry
188.8.131.52 Mechanical failures in harsh environments
184.108.40.206 Interruption of the supply chain due to the COVID-19 situation
220.127.116.11 Decline in aerospace industry growth due to COVID-19
5.3 Value chain analysis
6 encoder market, by encoder type
7 Encoders Market By Signal Type
8 Encoders Market by Technology Type
9 Encoders Market By Application
10 Geographical Analysis
11 competitive landscape
12 company profiles
12.1 Key Players
12.1.1 Renishaw plc
12.1.3 Fraba BV (Poster Fraba)
12.1.4 Sensata Technologies
12.1.5 IFM electronics
12.1.6 Mitutoyo Corporation
12.1.7 Pepperl + Fuchs SE
12.1.8 Fortive (Dynapar Corporation)
12.1.9 Maxon Motor AG
12.1.10 Balluff AG
12.1.11 Pilz GmbH & Co. KG
1/12/12 Tamagawa Seiki Co. Ltd.
12.1.13 Faulhaber Group
12.1.14 Baumer Group
12.1.15 Koyo Electronics Industries Co. Ltd.
12.2 Other key actors
12.2.1 Schneider Electric SE
12.2.2 Omron Corporation
12.2.3 Rockwell Automation Inc.
12.2.5 Hengstler GmbH
12.2.8 Siko GmbH
13 adjacent & related markets
For more information on this report, see https://www.researchandmarkets.com/r/gyq5ow