ID: MRFR/SEM/6460-HCR | December 2022 | Region: Global | 111 pages
Impact of COVID-19 on the Optical Encoders Market
An optical encoder is a type of rotary encoder that utilizes a sensor to recognize the position variation as light passes via a patterned encoder disk or wheel. It uses pulses of views to represent data. The major factors driving the growth of the market include the increasing demand for consumer electronics products as well as the growing printed circuit boards market. Also, the miniaturization of electronic components has led to the rising demand for optical encoders around the globe. However, the outbreak of COVID-19 has changed the entire scenario. China is a hub for the production of raw materials, and also the place where COVID-19 originated. This has rapidly hampered the production of consumer electronics products. The lockdowns imposed by governments worldwide to contain the spread of the pandemic have shut down manufacturing facilities globally, which has drastically impacted the production of electronic products and thus lowered the adoption of optical encoders across the globe. Besides, changes in the consumers’ buying behavior have drastically affected the growth of the market.
The halt in the production of miniaturized components has also hampered the growth of the optical encoders market. According to the MRFR analysis, Asia-Pacific dominated the market due to the presence of a large number of electronic component manufacturers. This has resulted due to the enterprises’ high adoption of optical encoders to improve efficiency. Besides, the availability of low-cost raw materials has led to the mass production of inexpensive optical encoders in the region. Gradual relaxations in the lockdowns in some of the countries are expected to help the demand for optical encoders recover in the coming years.
Global Printed Circuit Board (PCB) Product Sales Value, 2014–2019 (USD Billion)