Press release
Encoders Market to Grow at a CAGR of 10.2% to reach US$ 3,447.7 Million from 2020 to 2027
The Insight Partners
Industrial robots are widely used for manufacturing processes across the globe. With the adoption of robots, the cost of labor can be reduced to a great extent in various countries, such as the US and China. Developments in computing power and networking technologies have made installing and maintaining robots cost-efficient and faster. Such factors and their impact on the growth of the robotics industry are expected to continue. As per IFR, from 2020 to 2022, ~2 million units of industrial robots are anticipated to be installed in factories across the globe. APAC is the largest industrial robot market. In 2018, APAC grew by 1% in terms of robot installations, and Europe increased by 14%. The top industrial robotics markets in 2018 were South Korea, Japan, China, Germany, and the US. As leading companies in this market continue to broaden its addressable market by expanding their current offerings and diversifying their client base, all the prominent players face an increasing level of competition, both from start-ups and leading established companies across the globe. Several companies in the value chain are developing new products and acquiring other players in the market to maintain their position in the market and provide efficient services to their customers. Major providers of encoders are based in Europe and North America. However, the encoders market is penetrating at a high growth rate in APAC.
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Company Profiles
Delta Electronics, Inc.
Dahua Technology CO., Ltd
Omron Corporation
ELCO Holding
FRABA B.V.
FSI Technologies Inc.
Renishaw Plc.
Rockwell Automation, Inc.
Scancon Encoders A/S
Servotechnik GmbH
The COVID-19 (coronavirus) pandemic is impacting society and the overall economy across the world. The impact of this pandemic is growing day by day as well as affecting the world's technology supply chain. The COVID-19 crisis is leading toward the uncertainty in the stock market, massive slowing of supply chain, falling business confidence, and increasing panic among the population. The overall effect of the pandemic is impacting the production process of several industries, such as consumer electronics, automotive, food & beverages, and many more. As governments of different regions have already announced total lockdown and temporarily shutdown of industries, the overall production process being adversely affected; thus, hinder the overall encoder market globally.
Various companies in Europe and North America focus on R&D initiatives and rising investments are further complementing the growth of the global encoder market. A few key encoder material and technology providers include Gurley Precision Instruments Inc., FSI Technologies Inc., FRABA B.V., Baumer Group, and Dynapar Corporation.
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Product development strategy is commonly adopted by companies to expand their footprint worldwide and meet the growing demand. This strategy is mostly observed in Europe. A few recent developments are listed below:
2020:FRABA's subsidiary POSITAL has extended its product portfolio of rotary encoders and inclinometers in order to include more devices with IP69K level environmental protection. They are available with a comprehensive range of mechanical options and communications interfaces.
2019:Renishaw Plc launched a new encoder, ATOM DX encoder, designed on Renishaw's ATOM miniature encoder series and integrated with an innovative interpolation technology originally developed for the VIONiC and QUANTiC encoder families.
Encoders Market - by Type
Linear Encoder
Incremental
Absolute
Rotary Encoder
Incremental
Absolute
Encoders Market - by Technology
Optical
Magnetic
Others
Encoders Market - by End User
Aerospace
Automotive
Food and Beverage
Printing
Consumer Electronics
Medical
Others
Encoders Market - by Geography
North America
US
Canada
Mexico
Europe
France
Germany
Italy
UK
Russia
Rest of Europe
Asia Pacific (APAC)
China
India
South Korea
Japan
Australia
Rest of APAC
Middle East & Africa (MEA)
South Africa
Saudi Arabia
UAE
Rest of MEA
South America
Brazil
Argentina
Rest of South America
Contact us:
Contact Person : Sameer Joshi
Phone : +1-646-491-9876
E-mail : sales@theinsightpartners.com
About us:
The Insight Partners is a one stop industry research provider of actionable intelligence. We help our clients in getting solutions to their research requirements through our syndicated and consulting research services. We specialize in industries such as Semiconductor and Electronics, Aerospace and Defense, Automotive and Transportation, Biotechnology, Healthcare IT, Manufacturing and Construction, Medical Device, Technology, Media and Telecommunications, Chemicals and Materials.
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