Dublin, Aug. 06, 2020 (GLOBE NEWSWIRE) -- The "Encoders Market Forecast to 2027 - COVID-19 Impact and Global Analysis by Type; Technology; End User" report has been added to ResearchAndMarkets.com's offering.
The global encoder market accounted for US$ 1,748.4 million in 2020 and is expected to grow at a CAGR of 10.19% during 2020-2027 to reach US$ 3,447.7 million by 2027. Advanced encoder technologies are encouraging automotive OEMs to adopt encoder devices; thus, the automobile industry has a huge impact on the global encoder market. Various developing countries in APAC and South America, such as India, China, and Brazil, play a crucial role in the growth of the automotive industry. From the past few years, warehouse automation systems have progressed radically owing to developments in software and communication and control technology.
Automotive guided vehicles (AGV) have aided greatly from such advances and have been applied to a broadening range of applications. The primary sensors used in AGV motion and directional control are incremental rotary encoders. The incremental encoders are broadly used in material handling equipment as they are built to offer precise, real-time data of AGV motor. Further, Lika Electronic offers various types of precision, compact, and modular encoder products for AGVs to ensure safe and reliable operation. Thus, the encoders market is anticipated to grow further globally.
Robotics has been used in various major industries, such as aerospace and automotive, as these industries require highly accurate machine operations on large components. Robots have the ability to reach any position on a large component, such as aircraft's fuselage, and can achieve tasks, which includes drilling and milling. Nevertheless, accuracy might reduce by several factors for such applications, and the tool center point must be positioned and guided with sufficient accuracy; this is one of the drawbacks of a robot.
Companies highly emphasize on offering encoders for industrial robotics; for instance, HEIDENHAIN GmbH designs encoders for the robotics industry; its ECI 4000 absolute inductive rotary encoder enhances the absolute position accuracy of the tool center point on industrial robots by 70-80%. Thus, owing to growing industrial robotics sales and increasing integration of encoders in robots, the growth of the global encoder market is likely to propel in the coming years.
The presence of fast-growing countries, rising technology adoption, adoption of high-end automation solutions, and rise in industrialization are among the major factors expected to drive the growth of the encoder market in APAC. Other developing regions such as MEA and SAM are also projected to grow at a steady pace owing to the increasing government initiatives to digitalize economy with the adoption of advanced technologies across several industries, such as consumer electronics, automotive, aerospace, and food & beverages.
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Key Topics Covered:
1. Introduction
2. Key Takeaways
3. Research Methodology
3.1 Coverage
3.2 Secondary Research
3.3 Primary Research
4. Encoder Market Landscape
4.1 Market Overview
4.2 PEST Analysis
4.2.1 North America - PEST Analysis
4.2.2 Asia-Pacific - PEST Analysis
4.2.3 Europe - PEST Analysis
4.2.4 Middle East & Africa - PEST Analysis
4.2.5 South America- PEST Analysis
4.3 Ecosystem Analysis
4.4 Expert Opinion
5. Encoder Market -Market Dynamics
5.1 Market Drivers
5.1.1 Growing Industrial Automation Across Industries
5.1.2 Increased used of Industrial Robotics in Manufacturing Process
5.2 Market Restraints
5.2.1 Concerns Regarding Accuracy
5.3 Market Opportunities
5.3.1 Growing Demand for IoT
5.4 Future Trend
5.4.1 Miniaturization of Encoders
5.5 Impact Analysis of Drivers and Restraints
6. Encoder Market - Global Market Analysis
6.1 Encoder Market Overview
6.2 Encoder Market -Revenue, and Forecast to 2027 (US$ Million)
6.3 Market Positioning - Global Key Players
7. Encoder Market Analysis - By Type
7.1 Overview
7.2 Encoder Market Breakdown, by Type, 2019 & 2027
7.3 Linear Encoder
7.3.1 Overview
7.3.2 Linear Encoder Market Revenue and Forecast to 2027 (US$ Million)
7.3.3 Incremental
7.3.3.1 Overview
7.3.3.2 Incremental: Encoder Linear Encoder Market Revenue and Forecast to 2027 (US$ Million)
7.3.4 Absolute
7.3.4.1 Overview
7.3.4.2 Absolute: Encoder Linear Encoder Market - Revenue and Forecast to 2027 (US$ Million)
7.4 Rotary Encoder
7.4.1 Overview
7.4.2 Rotary Encoder Market Revenue and Forecast to 2027 (US$ Million)
7.4.3 Incremental
7.4.3.1 Overview
7.4.3.2 Incremental: Encoder Rotary Encoder Market Revenue and Forecast to 2027 (US$ Million)
7.4.4 Absolute
7.4.4.1 Overview
7.4.4.2 Absolute: Encoder Rotary Encoder Market - Revenue and Forecast to 2027 (US$ Million)
8. Encoder Market Analysis - By Technology
8.1 Overview
8.2 Encoder Market Breakdown, by Technology, 2019 & 2027
8.3 Magnetic
8.3.1 Overview
8.3.2 Magnetic Market Revenue and Forecast to 2027 (US$ Million)
8.4 Optical
8.4.1 Overview
8.4.2 Optical Market Revenue and Forecast to 2027 (US$ Million)
8.5 Others
8.5.1 Overview
8.5.2 Others Market Revenue and Forecast to 2027 (US$ Million)
9. Encoder Market Analysis - By End User
9.1 Overview
9.2 Encoder Market Breakdown, by End User, 2019 & 2027
9.3 Aerospace
9.3.1 Overview
9.3.2 Aerospace Market Revenue and Forecast to 2027 (US$ Million)
9.4 Automotive
9.4.1 Overview
9.4.2 Automotive Market Revenue and Forecast to 2027 (US$ Million)
9.5 Food and Beverages
9.5.1 Overview
9.5.2 Food and Beverages Market Revenue and Forecast to 2027 (US$ Million)
9.6 Medical
9.6.1 Overview
9.6.2 Medical Market Revenue and Forecast to 2027 (US$ Million)
9.7 Consumer Electronics
9.7.1 Overview
9.7.2 Consumer Electronics Market Revenue and Forecast to 2027 (US$ Million)
9.8 Printing
9.8.1 Overview
9.8.2 Printing Market Revenue and Forecast to 2027 (US$ Million)
9.9 Others
9.9.1 Overview
9.9.2 Others Market Revenue and Forecast to 2027 (US$ Million)
10. Encoders Market - Geographic Analysis
10.1 Overview
10.2 North America: Encoders Market
10.3 Europe: Encoder Market
10.4 APAC: Encoder Market
10.5 Middle East and Africa: Encoders Market
10.6 SAM: Encoders Market
11. Impact of COVID-19 Outbreak
11.1 IMPACT OF COVID-19 PANDEMIC ON GLOBAL ENCODER MARKET
11.1.1 North America: Impact Assessment of COVID-19 Pandemic
11.1.2 Europe: Impact Assessment of COVID-19 Pandemic
11.1.3 Asia-Pacific: Impact Assessment of COVID-19 Pandemic
11.1.4 Middle East and Africa: Impact Assessment of COVID-19 Pandemic
11.1.5 South America: Impact Assessment of COVID-19 Pandemic
12. Industry Landscape
12.1 Market Initiatives
12.2 New Product Development
13. Company Profiles
13.1 ELCO Holding
13.1.1 Key Facts
13.1.2 Business Description
13.1.3 Products and Services
13.1.4 Financial Overview
13.1.5 SWOT Analysis
13.1.6 Key Developments
13.2 Dahua Technology Co., Ltd.
13.3 FRABA B.V.
13.4 FSI Technologies Inc.
13.5 Renishaw Plc
13.6 LTN Servotechnik GmbH
13.7 SCANCON Encoders A/S
13.8 OMRON Corporation
13.9 Delta Electronics
13.10 Rockwell Automation, Inc.
14. Appendix
14.1 About the Publisher
14.2 Word Index
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