Encipherors Market Analysis

Market Insights

The growth of the encipherors market is primarily driven by widespread use in applications such as healthcare, consumer electronics, and assembly equipment among others. Increasing adoption of advanced technologies across verticals has resulted in increased demand for data security is likely to drive the growth of the global Encipherors market at a significant rate during the review period. In addition to this, rising demand for advanced encipherors is likely to create lucrative opportunities for the players operating in the global market in the coming years.

What is Enchiper?

Enchiper can be defined as a process of converting message or information into cipher. Ciphers, also known as encryption algorithms, are the systems used for encrypting and decrypting data. A cipher converts the original message into cipher text using a key to determine how it is done. Based on type, enchipherors can be categorized as incremental type and absolute type.

COVID-19

The COVID-19 outbreak posed significant challenges across verticals worldwide. It impacted the growth of the encipherors market negatively as the imposition of complete lockdown and restrictions on trade affected the supply of the product for a short period of time.

Key Players

Key players operating in the Encipherors market are-

• BEI Sensors (US)
• Dynapar Corporation (US)
• Omron Corporation (Japan)
• Red Lion Controls (US)
• Sharp Microelectronics (US)
• Renishaw plc (UK)
• Hengstler GmbH (Germany)
• Seeed Technology Inc. (China)
• TT Electronics Plc (UK)
• Grayhill, Inc. (US)
• Bourns, Inc. (US)
• Broadcom Inc. (US).

Segment Analysis

Application Trends

The encipherors market has been bifurcated into healthcare, machine tool, consumer electronics, assembly equipment and other. Under these, the consumer elecronics segment accounted for the largest market share in 2020 and is projected to register significant growth during the review period. The segment growth can be attributed to its widespread use in electronics.

Regional Trends

The market in Asia-Pacific accounted for the largest market share in 2020 and is projected to grow at a significant CAGR during the assessment period. The regional growth can be attributed to increasing adoption of advanced technologies such as internet of things and artificial intelligence across verticals particularly in the developing countries such as India and China. The market growth in North America region is expected to be driven by presence of key market players such as BEI Sensors (US) and Dynapar Corporation (US).

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Target Audience

Here is the list of the group of customers that the market hopes to have the greatest opportunity to convert-

• Distributors
• Suppliers
• Manufacturers
• Logistics organizations
• Government bodies

Report Features

This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision-making for the existing market players as well as those willing to enter the market.

What deliverables will you get in this report?

Research Methodology

This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with Stratview Research’s internal database and statistical tools. More than 1,000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles, have been leveraged to gather the data. We conducted more than 15 detailed primary interviews with the market players across the value chain in all four regions and industry experts to obtain both qualitative and quantitative insights.?

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Company Profiling

• Detailed profiling of additional market players (up to three players)
• SWOT analysis of key players (up to three players)

Competitive Benchmarking

• Benchmarking of key players on the following parameters: Product portfolio, geographical reach, regional presence, and strategic alliances.

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