Encoder market is expected to grow owing to high demand of advanced automotive system in the forecast period.
The growing use of
automation in different sectors is propelling the Global Encoder Market, which
is predicted to grow between 2024 and 2028.
According to
TechSci Research report, “Encoder- Global Industry Size, Share, Trends,
Opportunity, and Forecast, 2018–2028F”, The Global Encoder Market is
expected to show consistent growth throughout the industry in the coming years,
Encoders are components that are added to a direct current motor to transform
mechanical motion into digital pulses that the integrated control electronics
can understand. The primary function of encoders is to convert information from
one format to another for standardization, speed modification, or safety
control. In the next years, technological developments, and the
growing popularity of signal on-demand fit absolute/incremental rotational
encoders are likely to generate an opportunity for the encoder industry.
The need for high-end automation and industry
4.0 are driving the market's expansion. Industry 4.0 refers to the fourth
industrial revolution, a new world in which factory automation progresses from
manufacturing plants controlled by traditional information technology systems
to a cloud-based infrastructure that enables big data analytics and the
virtualization of production processes.
This vision is much
more than an Industrial IoT (IIoT), and while it may aspire to facilitate
intelligence through cognitive behavior such as self-configuration and
autonomous optimization, the fundamental principle of any control system
involves feedback that is dependent on sensing its own condition and the
environment around it.
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market data Figures spread through XX Pages and an in-depth TOC on “Global Encoder Market”
Global Encoder
is segmented By
Technology, Type and End User Industry. Based on Technology, the market is
segmented into Optical, Magnetic, and Others. Among these, optical
technology-based encoders are expected to expand the most through 2028, owing
to their widespread usage in automation in various industries.
Based on Type, the
market is segmented into Rotary Encoder and Linear Encoder.
Due to their
excellent durability and performance, rotary encoders are likely to dominate
the market over the forecast period due to their extensive application in
industrial and commercial designs.
Based on End User
Industry, the Global Encoder Market is
segmented into several industries, including, consumer electronics, textiles,
automotives, packaging, food and beverages, and others. The market is expected
to be dominated by the rising usage of new technologies such as robotics,
drones, automation, smart manufacturing, consumer electronics, and end user
sectors.
Key market
players in the Encoder market:
- Baumer Holding AG
- Sensata Technologies, Inc.
- Rockwell Automation Inc
- Dynapar Corporation
- Omron Automation
- Dr. Fritz Faulhaber GmbH & Co. KG
- Posital-Fraba Inc
- Heidenhain GmbH
- Elco Industrie Automation GmbH
- Maxon Motor Ag.
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“The demand for encoders
has been driven by the increasing adoption of automation and the emergence of
Industry 4.0 and IIoT. To improve operational dependability and efficiency,
manufacturers are implementing modern signal-processing algorithms, and
encoders. Additionally, the rising demand for manufacturing capabilities,
fueled by consumer demand for high-quality products and shorter delivery times,
is expected to further drive the demand for encoders. Consequently,
manufacturers are likely to focus on improving their manufacturing processes to
remain competitive and meet consumer demands. Overall, the demand for encoders
is expected to continue growing, and manufacturers will need to innovate and
improve their products to keep up with this demand.” said, Mr. Karan Chechi,
Research Director with TechSci Research, a research based global management
consulting firm.
“Encoder- Global Industry Size, Share,
Trends, Opportunity, and Forecast, 2018–2028F
Segmented By Technology (Optical, Magnetic, and Others), By Type (Rotary
Encoder, Linear Encoder), By End User Industry (Industrial, Consumer
Electronics, Textiles, Automotive, Packaging, Food & Beverages Other
End-user Industries) By Region, Competition” has evaluated the future growth potential of Encoder and provides
statistics & information on market size, structure, and future market
growth. The report intends to provide cutting-edge market intelligence and help
decision makers take sound investment decisions. Besides, the report also
identifies and analyzes the emerging trends along with essential drivers,
challenges, and opportunities in Encoder Market.
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