PORTLAND, OR, Oct. 18, 2022 (GLOBE NEWSWIRE) — According to the report published by Allied Market Research, the global encoder market generated $2.3 billion in 2021 and is projected to reach $5.1 billion by 2031, at a CAGR of 8.4% from 2022 to 2031. The report provides a detailed analysis of key winning strategies, evolving market trends, market size and estimates, along with value chain, key investment pockets, drivers and opportunities, competitive landscape, and regional landscape. The report is a useful source of information for new entrants, shareholders, pioneers and stockholders to introduce necessary strategies for the future and take essential steps to significantly strengthen and expand their position in the market.
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Report coverage and details:
|Market size in 2021||$2.3 billion|
|Market size in 2031||$5.1 billion|
|Number of pages in the report||266|
|Covered Segments||Type, Technology, Industry and Region.|
|driver||Increase the adoption of encoders for communication between controllers and machine monitoring|
|Increasing need for high-end automation across all industries|
|occasions||Increasing popularity of artificial intelligence based systems|
|Constant technological progress|
|inhibits||Differences in international regulations|
- The outbreak of COVID-19 has negatively impacted the growth of the global encoder market due to lockdowns in various countries around the world.
- Lockdowns resulted in the closure of various manufacturing plants including those of encoders and other electronic items, which negatively impacted the growth of the market.
- In addition, due to the strict import and export ban imposed by the governments of many countries around the world, there was a shortage of labor and essential raw materials. Major players in the Encoders industry experienced temporary slowdown due to shortage of qualified professionals to develop Encoders market solutions, which has led to revenue decline for FY2020-2021.
- These factors further amplified the impact on the market. The government’s strict restrictions were imposed primarily to significantly curb the spread of the virus during the pandemic.
- However, the market is expected to recover with reduced restrictions, growing reliance on AI and consequent technological advances.
The report offers detailed segmentation of the global Encoders market by type, technology, industry sector, and region. The report provides a comprehensive analysis of each segment and its respective sub-segment with the help of graphical and tabular representation. This analysis can essentially help market participants, investors and new entrants to determine and develop strategies based on the fastest growing segments and highest revenue generation mentioned in the report.
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Based on type, the rotary segment had the largest market share with more than three-fifths of the global market share of encoders in 2021 and is expected to maintain its leading position during the forecast period. Additionally, the same segment is expected to lead the fastest CAGR of 8.64% over the forecast period. The report also analyzes other segments such as: B. linear.
Based on technology, the optical segment held the dominant market share in 2021, holding more than two-fifths of the global market share of encoders. The magnet segment, on the other hand, is expected to maintain its leading position during the forecast period. Additionally, the same segment is expected to lead the fastest CAGR of 10.85%.
Based on the industry vertical, the industry segment had the largest market share with more than two-fifths of the global market share of encoders in 2021 and is expected to maintain its leading position during the forecast period. In addition, the same segment is expected to quote the fastest CAGR of 9.71% during the forecast period. The report also analyzes other segments such as healthcare, printing machinery, textiles, and others.
Based on region, the Asia-Pacific market held the dominant global encoder market share in 2021 with more than two-fifths of the global market share and is expected to maintain its leading position during the forecast period. Additionally, the same region is expected to register the fastest CAGR of 9.16% over the forecast period. The report also analyzes other regions such as North America, Europe and LAMEA.
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Major Players analyzed in Global Encoders Market Report include Alps Alpine Co., Ltd., Bourns, Inc., Broadcom Inc., CUI Devices, Dynapar, ELCO Holding, Fenace Auto Ltd., FRABA BV, Grayhill Inc ., HEIDENHAIN, Omron Corporation, Panasonic Corporation, Rockwell Automation, Inc., Schneider Electric, Sensata Technologies, Inc., TE Connectivity and TT Electronics Plc.
The report analyzes these major players in the global encoder market. These market players have effectively used strategies like joint ventures, collaborations, expansion, new product launches, partnerships, and others to maximize their presence and power in the industry. The report is helpful in analyzing the recent developments, product portfolio, business performance, and operating segments by prominent players in the market.
Main benefits for stakeholders:
- This report provides a quantitative analysis of the market segments, current trends, estimates and dynamics of the Encoders market analysis from 2021 to 2031 to identify the prevailing Encoders market opportunities.
- The market research is offered along with information on key drivers, restraints and opportunities.
- Porter’s Five Forces Analysis highlights the potential of buyers and suppliers to enable stakeholders to make profit-driven business decisions and strengthen their supplier-buyer network.
- An in-depth analysis of the Encoders market segmentation helps in determining the prevailing opportunities in the market.
- Major countries in each region are mapped according to their revenue contribution to the global market.
- The positioning of market participants facilitates benchmarking and provides a clear understanding of the current position of market participants.
- The report includes the analysis of regional and global Encoders market trends, key players, market segments, application areas, Encoders market forecast, and market growth strategies.
Key segments of the encoder market:
- Photoelectric barrier
- printing machines
- North America (USA, Canada and Mexico)
- Europe (UK, Germany, France, Italy, Spain, Russia, Netherlands, Belgium, Poland and Rest of Europe)
- Asia Pacific (China, Japan, India, South Korea, Australia, Malaysia, Thailand, Philippines, Indonesia and Rest of Asia Pacific)
- LAMEA (Latin America, Middle East and Africa)
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