May 07, 2020
According to the research report titled ‘Global Encoders Market Size study, by Type (Rotary, Linear ) By Technology Type( Optical, Magnetic, Others) By End Use (Automotive, Consumer Electronics, Food & beverages, Industrial, Medical, Printing, Textile, Others) and Regional Forecasts 2019-2026’, available with Market Study Report LLC, global encoders market accumulated USD 1.5 billion in 2018 and is expected to record a y-o-y growth rate of 8.6% during 2019-2026.
For the record, an encoder is employed to convert information from one format to another. It is used to detect and convert mechanical motion into analog or digital coded output signal in position sensing applications. Encoders help in analyzing the position, while acceleration and direction can be derived based on final position during linear or rotary movement.
Incorporation of automation solutions across various industries along with emergence of Industry 4.0 are major factors driving the encoders market growth. There has been an upsurge in adoption rates of AI-based systems. In addition, advancements in automotive industry will create lucrative growth opportunities for the encoders market. However, nonstandard regulatory scenario across the globe may hinder the market expansion.
As per type, worldwide encoders market is divided into linear and rotary, whereas in terms of technology, the market is categorized into magnetic, optical and others. Citing the end-use landscape, the industry is split into textile, printing, medical, industrial, food & beverages, consumer electronics, and automotive.
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Considering the regional terrain, North America encoders market is poised to acquire admirable returns by the year 2026, primarily due to growing inclination towards robotics and automated techniques in industrial and manufacturing processes. Parallelly, Asia-Pacific market is predicted to expand rapidly over the forecast period, owing to flourishing automotive industry and increasing manufacturing activities in the region.
The major contenders in global encoders market are Maxon Motor AG, IFM Electronic GmbH, Heidenhain GmbH, Posital-Fraba Inc., Faulhaber Group, Rockwell Corp. Inc., Omron Corp., Dynapar Corp., Sensata Technologies and Baumer Group among others.