Market Introduction
Encoders are used in several sectors to provide feedback about the movement of a rotating shaft and it also senses position, direction, and speed. It converts mechanical motion into an electrical signal, the signal transmitted back to a controlling device, such as a counter. Technologies involved in encoders are magnetic, optical and capacitive. The optical technology is the most broadly used encoder motion translating technology. The encoder has a broad range of uses, including servo or VFD (Variable Frequency Drive) control, measuring, and counts. For VFD control, one might be running a pump on a VFD to fill a tank with liquid, one might request for a certain speed and want to verify that the speed is at the required rate. An encoder on the VFD is used for feedback of the speed. VFD is used to control the motor speed; the actual speed is measured with an encoder. The automobile sector is experiencing a considerable development in advanced technologies; various connected and driverless cars are in the developing phase. Advanced encoder technologies encourage automotive OEMs to adopt encoder devices; thus, the automobile industry has a massive impact on the SAM encoder market. In the past few years, warehouse automation systems have progressed rapidly due to developments in software and communication and control technology. Automotive guided vehicles (AGV) have aided greatly from such advances, and have been applied to a broad range of applications. The primary sensors used in AGV motion and directional control are incremental rotary encoders. The incremental encoders are broadly used in material handling equipment as they are built to offer precise, real-time data about AGV motor. Thus, the wide use of industrial robots in manufacturing process is expected to create a significant demand for encoder in the coming years, which is further anticipated to drive the encoder market.
In SAM region, Brazil has the highest number of COVID-19 cases, followed by Ecuador, Chile, Peru, and Argentina, among others. 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 emergence and rapid spread of COVID-19 has affected many developed and developing countries. The continuous surge in count of infected patients is threatening several industries across the SAM region. Since majority of the countries are exercising lockdowns, the demand for encoders are decreasing at a prominent rate. This is due to the fact that, the key encoder purchasing countries have been restricting their investment on these components, and are utilizing a fair percentage of their budget to combat COVID-19. The temporary shutdown of manufacturing facilities is also showcasing negative trend in the encoder market. The continuity of the COVID-19 spread, would be a negative factor for encoder market players. The semiconductor and automotive industry are among the victims of COVID-19, and since the start of 2020, these industries have been reflecting a declining growth trend. With the imposition of lockdown across 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 trend in automotive and semiconductor industry is reflecting a negative impact on the SAM encoder market.
Market Overview and Dynamics
The encoder market in SAM is expected to grow from US$ 143.5 million in 2019 to US$ 280.0 million by 2027; it is estimated to grow at a CAGR of 8.0% from 2020 to 2027. There has been an enormous wave in the development of technologies, which has impacted the design of encoders. Also, the semiconductor industry is driven by tech innovations, consumer trends, and better production processes. One of the biggest trends in encoder industry is the increasing demand and requirement for lighter, smaller, and high-performing encoders. Various vendors across the region are highly emphasized on designing products that are smaller and embed with more functionality. Prominent players in the market are focusing on the introduction of miniaturized designs of their products in order to sync with changing trends in various industries. The robotics industry is importantly observing the growth of this miniaturization trend, the demand for miniaturized devices in this industry would see a substantial boost in the near future, which, in turn will propel the growth of the encoder market.
Key Market Segments
In terms of type, the rotary encoder segment accounted for a larger share of the SAM encoder market in 2019. In terms of technology, the magnetic segment held the largest share of the encoder market in 2019. Further, the consumer electronics segment held the largest share of the market based on end-user in 2019.
Major Sources and Companies Listed
A few major primary and secondary sources referred to for preparing this report on the encoder market in SAM are company websites, annual reports, financial reports, national government documents, and statistical database, among others. Dahua Technology Co., Ltd.; Renishaw Plc; LTN Servotechnik GmbH; OMRON Corporation; Delta Electronics; and Rockwell Automation, Inc. are among the major companies listed in the report.
Reasons to buy report
SAM Encoder Market Segmentation
By Technology
By Country
Company Profiles
| Report Attribute | Details |
|---|---|
| Market size in 2019 | US$ 143.5 Million |
| Market Size by 2027 | US$ 280.0 Million |
| CAGR (2020 - 2027) | 8.0% |
| Historical Data | 2017-2018 |
| Forecast period | 2020-2027 |
| Segments Covered |
By Type
|
| Regions and Countries Covered |
South and Central America
|
| Market leaders and key company profiles |
|
The South America Encoder Market is valued at US$ 143.5 Million in 2019, it is projected to reach US$ 280.0 Million by 2027.
As per our report South America Encoder Market, the market size is valued at US$ 143.5 Million in 2019, projecting it to reach US$ 280.0 Million by 2027. This translates to a CAGR of approximately 8.0% during the forecast period.
The South America Encoder Market report typically cover these key segments-
The historic period, base year, and forecast period can vary slightly depending on the specific market research report. However, for the South America Encoder Market report:
The South America Encoder Market is populated by several key players, each contributing to its growth and innovation. Some of the major players include:
The South America Encoder Market report is valuable for diverse stakeholders, including:
Essentially, anyone involved in or considering involvement in the South America Encoder Market value chain can benefit from the information contained in a comprehensive market report.
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