New Industrial Encoder Market Research during 2021-2025 | Market Impact Analysis for the New Normal | Technavio

LONDON--(BUSINESS WIRE)--The new industrial encoder market research from Technavio indicates negative growth in the short term as the business impact of COVID-19 spreads.

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"One of the primary growth drivers for this market is the increased use of advanced technology equipment in industries,” says a senior analyst for the industrials industry at Technavio. The market vendors should focus more on the growth prospects in the fast-growing segments while maintaining their positions in the slow-growing segments. As the markets recover, Technavio expects the industrial encoder market size to grow by USD 908.30 million during the period 2021-2025.

Industrial Encoder Market Segment Highlights for 2020

• The industrial encoder market is expected to post a year-over-year growth rate of 7.21%.
• Based on the end-user, the automotive segment saw maximum growth in 2020. The automotive industries require equipment that is used for lifting several parts of the automobiles and assemble them to form the final unit. All these processes require heavy use of industrial encoders to perform the processes precisely.
• The industrial encoder market share growth by the automotive segment will be slower than the electronics segment.

Regional Analysis

• 42% of the growth will originate from the APAC region.
• The adoption of IoT across industries will facilitate the industrial encoder market growth in APAC over the forecast period.
• China, Japan, and South Korea (Republic of Korea) are the key markets for industrial encoders in APAC. Market growth in APAC will be faster than the growth of the market in other regions.

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Notes:

• The industrial encoder market size is expected to accelerate at a CAGR of over 9% during the forecast period.
• The industrial encoder market is segmented by end-user (Automotive, Electronics, Machine tools, and Others) and geography (APAC, North America, Europe, South America, and MEA).
• The market is fragmented due to the presence of many established vendors holding significant market share.
• The research report offers information on several market vendors, including Baumer Holding AG, Dynapar Corp., Hengstler GmbH, ifm electronic GmbH, OMRON Corp., Pepperl+Fuchs AG, Pilz GmbH & Co. KG, Renishaw Plc, Rockwell Automation Inc., and SENSATA TECHNOLOGIES HOLDING PLC.

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