Report : South America Encoder Market Forecast to 2027 - COVID-19 Impact and Regional Analysis By Type (Linear Encoder and Rotary Encoder), Technology (Magnetic, Optical, and Others), and End-User (Aerospace, Automotive, Food and Beverages, Medical, Consumer Electronics, Printing, and Others)
Magnetic Segment to Dominate SAM Encoder Market During the Forecast Period (2020 – 2027)
According to a new market research study on “SAM Encoder Market to 2027 – COVID-19 Impact and Regional Analysis - by Type, Technology, and End-User” is expected to reach US$ 280.0 million by 2027 from US$ 143.5 million in 2019. The market is estimated to grow at a CAGR of 8.0% from 2020 to 2027. The report provides trends prevailing in the SAM encoder market along with the drivers and restraints pertaining to the market growth. Wide use of industrial robots in manufacturing process is the major factor driving the growth of the SAM encoder market. However, less accuracy of encoder technologies hinder the growth of SAM encoder market.
In SAM, Brazil has the highest number of COVID-19 cases, followed by Ecuador, Chile, Peru, and Argentina, among others. The semiconductor and automotive industry are among the victims of COVID-19, and since the start of 2020, these industries have been reflecting declining growth trend. With the imposition of lockdown across the SAM region, the industries have been witnessing shattering experience. The automotive industry requires a significant number of human labour, and as the COVID-19 virus is spreading through human involvement, the sector is unable to function properly. The declining growth trend in automotive and semiconductor industry is reflecting a negative impact on the encoder market. The government of SAM has taken an array of actions to protect their citizens and contain COVID-19 spread. Containment measures in several countries of SAM will reduce economic activity in the manufacturing and service sectors for at least the next quarter, and is expected to rebound once the pandemic is contained.
The SAM encoder market is segmented into type, technology, end-user, and country. Based on type, the market is segmented into linear encoder and rotary encoder. In 2019, the rotary encoder segment held a larger share in SAM encoder market. Further, based on linear encoder and rotary encoder, the market is segmented into incremental and absolute. In 2019, the absolute segment held a larger share in both linear encoder and rotary encoder. Based on technology, the market is segmented into magnetic, optical, and others. The magnetic segment accounts for the largest market share in the 2019. Similarly, based on end-user, the market is segmented into aerospace, automotive, food & beverages, medical, consumer electronics, printing, and others. The consumer electronics segment contributed a substantial share in 2019.
Dahua Technology Co., Ltd.; Renishaw Plc; LTN Servotechnik GmbH; OMRON Corporation; Delta Electronics; and Rockwell Automation, Inc. are among the leading companies in the SAM encoder market. The companies are focused on adopting organic growth strategies such as product launches and expansions to sustain their position in the dynamic market. For instance, in 2020, Renishaw Plc launched a cost-effective range of encoder solutions for partial arc measurement applications. These encoders are used in a broad range of applications, such as wire bonders for back-end semiconductor manufacturing and synchrotron mirror benders for beamline X-ray experiments.
SAM Encoder Market
The Report Segments the SAM Encoder Market as Follows:
SAM Encoder Market – By Type
- Linear Encoder
- Incremental
- Absolute
- Rotary Encoder
- Incremental
- Absolute
SAM Encoder Market – By Technology
- Magnetic
- Optical
- Others
SAM Encoder Market – By End-User
- Aerospace
- Automotive
- Food and Beverages
- Medical
- Consumer Electronics
- Printing
- Others
SAM Encoder Market – By Country
- Brazil
- Argentina
- Rest of SAM