Middle East and Africa Encoder Market Forecast to 2027 - COVID-19 Impact and Regional Analysis - ResearchAndMarkets.com
DUBLIN--(BUSINESS WIRE)--Dec 21, 2020--
The “Middle East and Africa Encoder Market Forecast to 2027 - COVID-19 Impact and Regional Analysis By Type, Technology, and End-User” report has been added to ResearchAndMarkets.com’s offering.
The encoder market in MEA is expected to grow from US$ 67.9 million in 2019 to US$ 142.4 million by 2027; it is estimated to grow at a CAGR of 8.9% from 2020 to 2027.
Various industries are involved in integrating advanced technologies, including advanced analytics, high-performance computing, and the Internet of things (IoT). The manufacturing of such systems is to enhance manufacturing processes, which would result in better-quality products at lower costs. In factories, various machines and devices are interconnected and monitored to enhance efficiency and productivity. The application of these advanced technologies for manufacturing represents a key enabler for addressing challenges in manufacturing procedures. IoT is considered an enabling technology for the manufacturing process, contributing to the growth of industry 4.0. The IoT and the ability to harness sensor data and automation technologies revolutionize the way machines capture data. Such advances are creating various business opportunities for encoders vendors to adopt new technologies.
Command-line user interface device is an electronic component manufacturer which offers application-specific integrated circuit based on AMT (automated manual transmission) encoders, which integrates valuable diagnostic and programming tools, which speed the time to market and mitigate machine downtime in the field. The technology helps determine if the encoder is operating accurately. The diagnostic data is used to make reliable systems and monitored over time to offer performance trends that can be analyzed and used to forecast failures. Thus, the integration of IoT technologies helps track the performance in real-time; companies across the countries are heavily investing in IoT technology to gain traction in the market. Hence, the growing demand for IoT is anticipated to bolster the MEA encoder market.
The semiconductor and automotive industry are some of the major 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 MEA region, the industries have been witnessing shattering experience. The automotive industry requires a significant number of human labours, 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 MEA encoder market.
In terms of type, the rotary encoder segment led the MEA encoder market in 2019. Rotary encoders are electromechanical devices used to measure the rotational angle, number of rotations, and the rotational position of equipment. They detect location and speed by transforming rotational mechanical displacements into electrical signals. It provides feedback based on the rotation of a shaft (during a single 360 degree rotation or a single turn). Like linear encoder, a rotary encoder can also be either incremental or absolute. The rotary encoders are widely used for velocity control, temperature control, position sensing, and volume control.
The growing demand for electronic position sensing devices across various industries is mainly driving the growth of the rotary encoder. The rising market for the rotary encoder in the automotive industry and the increasing trend of industrial automation is anticipated to drive the demand for rotary encoders during the forecast period. In the automotive industry, the rotary encoders are used to provide electrical outputs relative to shaft rotation and accurately measure the angles. Rotary encoders in automotive are used in steering wheel position, throttle position, and gear position. The rotary encoder’s adoption is also massive in the aerospace industry, which is fueling the growth of the MEA encoder market.
Reasons to Buy
- Save and reduce time carrying out entry-level research by identifying the growth, size, leading players and segments in the MEA encoder market.
- Highlights key business priorities in order to assist companies to realign their business strategies
- The key findings and recommendations highlight crucial progressive industry trends in the MEA encoder market, thereby allowing players across the value chain to develop effective long-term strategies
- Develop/modify business expansion plans by using substantial growth offering developed and emerging markets
- Scrutinize in-depth MEA market trends and outlook coupled with the factors driving the encoder market, as well as those hindering it
- Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to client products, segmentation, pricing and distribution
- Implementation of Industrial Automation across Industries
- Concerns regarding accuracy of Encoders
- Integration of IoT Technology
- Rising demand for Encoders
- Dahua Technology Co., Ltd.
- LTN Servotechnik GmbH
- OMRON Corporation
- Delta Electronics
- Rockwell Automation, Inc.
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SOURCE: Research and Markets
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PUB: 12/21/2020 06:33 AM/DISC: 12/21/2020 06:33 AM