Encoder Market 2022 Industry Research, Segmentation, Key Players Analysis and Forecast to 2030

Key highlights of the Encoder Market study:

• The optical sensing encoder segment is expected to witness remarkable growth owing to the growing demand for improved resolution and accuracy for optical technologies.
• South Asia and Pacific are expected to create lucrative growth opportunities for players in the encoder market owing to the rapid growth of the automotive and manufacturing industries in the region.
• It is expected that the top 10-12 manufacturers will occupy more than half of the market share as the global market concentration is strengthened.
• The major players in the market are focusing on acquisitions to complement their product portfolios to meet the needs of diverse customers. Market participants are also focused on delivering products directly to end users to improve direct customer relationships.

“Encoder manufacturers can improve their bottom line by upgrading their existing facilities to improve operational efficiencies, reduce operating costs, and provide advanced features such as programmable resolution, voltage and waveforms. Encoder manufacturers focus more on the ongoing development and implementation of new technologies such as optical technology-based encoders and surface mount technology (SMT) processes for encoder devices that create growth opportunities for the encoder market  . “, says the FMI analyst.

Encoder Market Outlook

The global encoder market is highly competitive with numerous mid-to-large encoder manufacturers and service providers.

Tier-I participants in the encoder market are estimated to hold approximately 45%-55% of the market share. Product development and innovation are key strategies for encoder manufacturers in the encoder market to increase their market presence and enhance the end-user experience.

For example, in June 2020, FRABA BV introduced an inexpensive and flexible alternative for safety-critical motion control systems. We offer a wide range of applications for new safety encoders, from heavy construction machinery to mobile machinery.

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The report provides valuable insights at the company level with a focus on product innovations in the Encoders market along with the business and marketing strategies of emerging market players.

Some of the market participants included in the report include OMRON Corporation, Baumer Electric AG, Schneider Electric, Panasonic Corporation, Renishaw plc, Honeywell International, Inc., Rockwell Automation, Inc. etc.

Impact of COVID-19 pandemic outbreak on encoder market

The global spread of the COVID-19 pandemic in Q1 2020 impacted the production of encoder products such as linear encoders and rotary encoders and disrupted the encoder products industry and supply chain during the lockdown period. As a precautionary measure against the COVID-19 pandemic, most end-use industrial manufacturing facilities have been closed.

Additionally, production is expected to decline in 2020, with the majority of manufacturers expected to maintain inventory levels.

Prior to COVID-19, the global market for encoders was expected to grow at a market growth rate of 7.5%-8% in 2019, whereas in the post-COVID-19 scenario, the encoder market is expected to experience a growth decline of -1.5% relative to the original. Forecast 2019.

The COVID-19 crisis is expected to add uncertain long-term impacts to global markets. The global encoder market is expected to rebound from Q1 to Q2 2021.

Future Prospects of the Encoder Market

Encoder products are used in a variety of industrial applications such as automotive, consumer electronics, aerospace and defense, medical and medical devices, industrial and other industries.

Increasing use of encoders in industrial applications due to adoption of upcoming technologies such as automation, robotics and smart manufacturing is expected to provide lucrative growth opportunities in the encoder market.

A key growth driver for the global encoder market is the growing order for advanced and extended applications along with the shift from traditional and manual controls to state-of-the-art automation.

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More valuable insights into the Encoders Market report

Future Market Insights provides an unbiased analysis of the global encoder market, providing historical data for 2015-2019 and forecast statistics for 2020-2030. This report covers types (linear encoders and rotary encoders), position signals (absolute and incremental), sensing technologies (optical sensing encoders, magnetic sensing encoders, capacitive encoders and inductive encoders), applications (automotive, consumer electronics, aerospace) and defense, medical and medical devices, industrial) and six major geographies.