Location-based marketing leverages location data to provide targeted offers, recommendations and experiences based on a customer’s physical location or movement patterns. Various technologies like smartphones, WiFi networks and Bluetooth beacons enable precise location detection, allowing businesses to gain insights into customer behavior and movement within physical spaces. Location data and technology have become an integral part of modern marketing strategies across industries like retail, hospitality, transportation and real estate. Marketers can use location signals to push timely and personalized offers to customers when they are near a store or venue. Resolvers, sensors that provide feedback on the position and movement of mechanical parts, enable precise detection of location, direction and motion in applications like autonomous vehicles, drones and industrial automation. Resolvers collect rotational position data which is processed by control systems to detect motion and guide movement. The growing adoption of resolver-based location sensing technologies in automotive, aviation, robotics and factory automation is driving significant growth in the global resolvers market.
The global Resolvers Market is estimated to be valued at US$ 970 Mn in 2023 and is expected to exhibit a CAGR of 7.2% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
One of the key trends in the resolvers market is the increasing demand for non-contact and wireless resolvers. Traditional resolver technologies relied on mechanical slip rings to transmit signals, posing reliability issues over long-term use. Advances in non-contact position sensing allow resolver signals to be transmitted wirelessly using technologies like inductive coupling. This eliminates physical wear interfaces and enables more robust sensing in harsh industrial environments. Manufacturers are also developing high-accuracy smart resolvers integrated with additional sensing capabilities. These smart resolvers provide multi-turn position feedback along with temperature compensation for critical applications in industrial automation requiring high precision over extensive cycles of operation. The miniaturization of resolver technology suitable for smaller robotic and drone applications is another emerging trend, expanding the potential use cases and market opportunities.
Porter’s Analysis
Threat of new entrants: The resolvers market requires high R&D investments and established distribution channels. Thus, the threat of new entrants is moderate.
Bargaining power of buyers: The bargaining power of buyers is moderate as there are numerous established players providing resolvers.
Bargaining power of suppliers: The bargaining power of suppliers is moderate due to the availability of component suppliers.
Threat of new substitutes: There is a low threat from substitutes as resolvers have well-established application areas.
Competitive rivalry: The competitive rivalry is high among the top players to gain higher market shares.
Key Takeaways
The Global Resolvers Market Growth is expected to witness high. The global Resolvers Market is estimated to be valued at US$ 970 Mn in 2023 and is expected to exhibit a CAGR of 7.2% over the forecast period 2023 to 2030.
North America dominates the global resolvers market in terms of revenue, followed by Europe and Asia Pacific. This can be attributed to the presence of key manufacturers such as Moog Inc. and Honeywell International Inc. in North America. This is attributed to the growing industrial automation in China, India, and other developing nations in the region. The demand is rising from industries such as industrial machinery, renewable energy, and automotive.
Key players: Key players operating in the resolvers market are Moog Inc., Honeywell International Inc., AMETEK Inc., TE Connectivity, Woodward Inc., General Dynamics Corporation, Parker Hannifin Corp, Sensata Technologies, Tamagawa Seiki Co., Ltd., LTN Servotechnik GmbH. Moog Inc. and Honeywell International Inc. hold a significant share in the global market.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it