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Global “Encoders Market” Growth (2022- 2027):

According to the new research report, titled “Encoder Market – Global Analysis and Forecast to 2027”, published by The Insight Partners, the global encoder market is expected to reach US$ 3,447.7 million by 2027, registering a CAGR of 10.2% during 2020-2027. the present scenario and growth prospects of pin- point analysis for changing competitive dynamics and a forward-looking perspective on different factors driving or restraining industry growth.

In the type segment, rotary encoder captured a larger share of the global encoder market. The growing demand for electronic position sensing devices across various industries is mainly driving the growth of rotary encoders. Rising demand for rotary encoders in the automotive industry and increasing trend of industrial automation are among the factors anticipated to drive the growth of the market for rotary encoders during the forecast period.

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List Of TOP KEY PLAYERS in Encoders Market Report are – Companies across the regions are highly inclined toward providing mini encoders to their customers. For instance, Timken Company, a US-based company, offers M11 Miniature Commutating Modular Magnetic Encoder, which is the smallest off-axis commutating modular magnetic encoder. In addition, HEIDENHAIN GmbH, a German-based company, produces the RENCO rotary encoders and provides globally. The company is highly involved in working on a next-gen of RENCO brand miniaturization encoders. Thus, the rising focus on the miniaturization of encoders is propelling the growth of the encoder market.

Encoders are crucial devices of high volume, high-speed industrial automation applications. Encoders convert motion into electrical feedback signals read by a control device in order to measure changes in speed, position, direction, count, and linear distance. Encoders are suitable for accurate position determination in industrial automation. Industrial automation is implemented in several industries, such as automotive, aerospace, food & beverages, healthcare, and electronics. Industrial automation observes a high growth rate due to the requirement for enhanced productivity, speed, and efficiency in manufacturing procedures. By measuring rotation, it determines velocity and acceleration. Thus, in automotive automation, encoders play a crucial role and are progressively used in car manufacturing by automakers across the world. This factor accelerates revenue in the global encoder market.

In several countries, the automation of vehicles is increasing swiftly. With the advent of advanced technology, various automakers are anticipated to invest heavily in autonomous car technology. The encoder is attached to a wheel in order to measure rotation.

Encoders are mostly active feedback device where the speed or positioning of multi-element conveying systems must be carefully coordinated. Thus with the rising trend of industrial automation across the globe, the demand for the encoder is also set to propel.

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Encoders are electrical to mechanical transducers whose output is derived by reading a coded pattern on a rotating disk or a moving scale. Encoders are classified by the technology used to read the coded element: contact or non-contact, such as magnetic or optical; physical phenomenon employed to produce the output: linear or rotary. Due to the reliability and performance improvements of the semiconductor technology an encoder inherits, optical encoders are the favored solution in many standard industrial, computer, and automotive applications.

Optical encoders also profit from the ease of customization and thus, are suitable for numerous working environments, and experience no effects from extraordinary levels of magnetic fields. Conveyor belts are considered as a crucial technology for achieving industrial automation where encoders are widely used. Encoders are primarily attached to the motor, to intermediate axle shafts or both.

In today’s world, robots are considered as major productivity improving tools. South Korea is one of the largest adopter of robots in the world, whereas the US stands at 7th position. In various parts of the world, industrial sectors are encouraging advances related to automation. Accuracy, speed, and durability are the foremost features of industrial robots that are achieved by the use of encoders integrated into them. Encoder offers high-control dynamics and system precision, thus resisting strong vibrations in the servomotors located at the robot’s axes. An incremental encoder acts as a secondary encoder in the robot; it returns the absolute position precision of the robot. As per the International Federation of Robotics (IFR), a non-profit organization based in Germany, in January 2020, <2.4 million industrial robots are operating in factories across the world; the sales value globally reached US$ 16.5 billion. These factors are accelerating the use of encoders and are gaining huge traction in the global market.

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Key findings of the study:

Product development strategy is commonly adopted by companies to expand their footprint worldwide and meet the growing demand. This strategy is mostly observed in Europe. A few recent developments are listed below:

2020:FRABA’s subsidiary POSITAL has extended its product portfolio of rotary encoders and inclinometers in order to include more devices with IP69K level environmental protection. They are available with a comprehensive range of mechanical options and communications interfaces. 2019:Renishaw Plc launched a new encoder, ATOM DX encoder, designed on Renishaw’s ATOM miniature encoder series and integrated with an innovative interpolation technology originally developed for the VIONiC and QUANTiC encoder families.

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The Insight Partners is a one stop industry research provider of actionable intelligence. We help our clients in getting solutions to their research requirements through our syndicated and consulting research services. We specialize in industries such as Semiconductor and Electronics, Aerospace and Defense, Automotive and Transportation, Biotechnology, Healthcare IT, Manufacturing and Construction, Medical Device, Technology, Media and Telecommunications, Chemicals and Materials.

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