Linear Encoder segment to dominate MEA Encoder Market during the forecast period (2020 – 2027)
According to The Insight Partners market research study on “MEA Encoder Market to 2027 – COVID-19 Impact and Regional Analysis and Forecast by Type, Technology, and End-User” the market is expected to reach US$ 142.4 million by 2027 from US$ 67.9 million in 2019. The market is estimated to grow at a CAGR of 8.9% from 2020 to 2027. The report provides trends prevailing in the MEA encoder market along with the drivers and restraints pertaining to the market growth. Implementation of automation across industries is the major factor driving the growth of the MEA encoder market. However, concerns regarding accuracy of encoders hinder the growth of MEA encoder market.
In MEA, South Africa has the highest number of COVID-19 confirmed cases and it is followed by Saudi Arabia and UAE among other countries. UAE was the first country in MEA to report a confirmed case of coronavirus. Majority of the business in these countries have come to a halt and is expected to continue slower growth than usual. The semiconductor and automotive industry are the major victims of COVID-19, and since the start of 2020, these industries have been reflecting declining trend. The automotive industry requires a significant number of human labors, 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 MEA encoder market.
The MEA 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 the MEA encoder market. Further on the basis of linear encoder and rotary encoder, the market is segmented into incremental and absolute. In 2019, the incremental segment held a larger share in case of linear encoder and absolute segment held a larger share in case of rotary encoder. Based on technology, the market is segmented into magnetic, optical, and others. The magnetic segment accounted 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 printing segment contributed a substantial share in 2019.
Dahua Technology Co., Ltd.; LTN Servotechnik GmbH; OMRON Corporation; Delta Electronics; and Rockwell Automation, Inc. are among the leading companies in the MEA 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, Rockwell Automation, Inc. launched Allen-Bradley CIP safety encoders, which is specifically designed for industrial applications.
MEA Encoder Market, By Country, 2019 and 2027 (%)
The Report Segments the MEA Encoder Market as Follows:
- Linear Encoder
- Incremental
- Absolute
- Rotary Encoder
- Incremental
- Absolute
MEA Encoder Market – By Technology
- Magnetic
- Optical
- Others
MEA Encoder Market – By End-User
- Aerospace
- Automotive
- Food and Beverages
- Medical
- Consumer Electronics
- Printing
- Others
MEA Encoder Market – By Country
- South Africa
- Saudi Arabia
- UAE
- Rest of MEA