Inductive Encoder Market Outlook - 2030
Inductive encoder, often called incoder, is a sensing device. Inductive encoder detects nearby metal object and provides feedback. Inductive encoders provide quality and reducing error in the final products in the industry. Inductive encoders are divided into two types, linear and rotary. The inductive encoder works on the semiconductor technology. Further, there have been innovation is zettlex position transmitter, which works inductively without contact and replaced the bulky traditional inductive sensor transmitter.
Inductive encoders are reliable to realize a compact and accurate position sensor without contact. Inductive encoders do not require maintenance and have no troubles. These features of inductive encoder help to penetrate more in the inductive encoder market. The diverse areas of application for inductive encoders include automotive, food &beverages, healthcare, and others.
The global inductive encoder market is segmented on the basis of type, technology, application, signal, industry vertical, and region. Based on type, the market is divided into linear and rotary. In terms of technology, the market is categorized into semiconductor. On the basis of application, the market is divided into machine tool, assembly equipment, consumer electronics, and others. On the basis of signal, the market is divided into incremental and absolute. In terms of industry vertical, the market is categorized into consumer electronics, industrial, power, automotive, food & beverages, healthcare, and others. Geographically, the market is analyzed across several regions such as North America, Europe, Asia-Pacific, and Latin America, Middle East & Africa (LAMEA).
Key players operating in the global inductive encoder industry include Sensata Technologies (U.S.), Dynapar Corporation (U.S.), HEIDENHAIN (U.S.), Renishaw plc (UK), IFM Electronics (Germany), POSITAL FRABA (Netherlands) Micron Optics, Inc., Omron Corporation, Panasonic Corporation. These companies have adopted several strategies such as product launches, partnerships, collaborations, mergers & acquisitions, and joint ventures to strengthen their foothold in the global inductive encoder market.
COVID-19 Impact Analysis
The outbreak of the COVID-19 pandemic has severely affected the business of almost all industries. While the COVID-19 pandemic crisis unfolds, regulatory bodies all over the world are in the compulsion to impose strict lockdown and travel bans. Moreover, this has drastically affected the growth of the inductive encoder market opportunity.
Due to the COVID-19 pandemic, the supply chain systems were disrupted and the strict instruction of the Governing bodies to follow social distancing norms forced the industries to work with minimal workforce, which led to the decrease in the production rate of the industries. Thus, all these factors negatively contribute to the growth of the inductive encoder market share.
However, after the COVID-19 pandemic, the diversified and innovative applications of inductive encoder, such as consumer electronics, industrial, power, automotive, food & beverages, healthcare, and others, will drive the growth of the inductive encoder market.
Top Impacting Factors
In the automotive industry, the demand for high-tech automation in all industries by manufacturers is impacting the demand for inductive encoder market. Inductive encoder provides accurate monitoring of the engine speed that can ensure the best performance and operation of the machine and prevent the engine from burning out or stalling.
In food & beverages and pharmaceuticals, relationships with production lines are also important requirements for the food & beverages, pharmaceutical, and chemical industries. Large and medium-sized manufacturing companies implementing automation solutions use inductive encoder. Inductive encoder is extensively used to make better use of equipment, control quality of the final product, and minimize errors. Thus, the need for inductive encoder in production line management in food and pharmaceuticals surges the demand for inductive encoders market.
Depending on application, inductive encoder must be certified, with SIL certification. However, countries, such as China, the U.S., Canada, and Russia, all have their own inductive encoder standards. Therefore, such differences in regulations will restraint the inductive encoder industries as they cannot provide the same products in different regions, which will affect their overall capabilities of the inductive encoder market.
Surge in Usage in Automotive Applications
In automation and industrial application, the encoder is used to control and switch the rotor displacement at any time, thereby consuming less power. In electric operation, energy-saving inductive encoder will occupy prominent position in future mobile robots. The use of inductive encoder improves mobile robots through capacitive technology. Inductive encoders can help manufacturers in many different applications to comply with new efficiency rules, thereby promoting the use of mobile robots.
Thus, in the field of automation, inductive encoder helps improve overall equipment efficiency (OEE) by monitoring the performance and operating conditions of the machine, which surges the demand for inductive encoder market.
Surge in Usage in Food & Beverages and Pharmaceuticals Industries
In food & beverages and pharmaceuticals to provide and control the quality in the final products, inductive encoders are used. Inductive encoder also minimizes the error in food & beverages and pharmaceuticals industries. Inductive encoders, with the help of rotatory and linear sensor send the feedback signal that is used to determine direction and speed of the object, and help to control error in the production line of food & beverages. Thus, the need for inductive encoders in the food & beverages and pharmaceuticals helps to increase the demand for inductive encoder market.
Key Benefits of the Report
- This study presents the analytical depiction of the global inductive encoder market forecast along with the current trends and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the global inductive encoder market trends.
- The current market is quantitatively analyzed to highlight the global inductive encoder market growth scenario.
- Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
- The report provides a detailed global inductive encoder market analysis depending on competitive intensity and how the competition will take shape in the coming years.
Questions answered in the Inductive Encoder Market Research Report
- Which are the leading players active in the inductive encoder market size?
- What are the detailed impacts of COVID-19 on the market?
- What current trends will influence the inductive encoder industry in the next few years?
- What are the driving factors, restraints, and opportunities in the inductive encoder market?
- What future projections would help in taking further strategic steps?
Inductive Encoder Market Report Highlights
Key Market Players
Panasonic Corporation, POSITAL FRABA (Netherlands) Micron Optics, Dynapar Corporation (U.S.), IFM Electronics (Germany), Sensata Technologies (U.S.), HEIDENHAIN (U.S.), Renishaw plc (UK), Omron Corporation