Encoder Market to Garner US$ 3,447.7 million, Globally, by 2027 at 10.2% CAGR: The Insight Partners
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Encoders are suitable for accurate position determination in industrial automation
NEW YORK, UNITED STATES, March 30, 2022 /EINPresswire.com/ -- 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.
Strategic Insights
Report Coverage Details
Market Size Value in US$ 1,748.4 Million in 2020
Market Size Value by US$ 3,447.7 Million by 2027
Growth rate CAGR of 10.2% from 2020-2027
Forecast Period 2020-2027
Base Year 2020
No. of Pages 204
No. Tables 143
No. of Charts & Figures 85
Historical data available Yes
Segments covered Type; Technology; End-User
Regional scope North America; Europe; Asia Pacific; Latin America; MEA
Country scope US, UK, Canada, Germany, France, Italy, Australia, Russia, China, Japan, South Korea, Saudi Arabia, Brazil, Argentina
Report coverage Revenue forecast, company ranking, competitive landscape, growth factors, and trends
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In today’s world, robots are considered major productivity-improving tools. South Korea is one of the largest adopters of robots in the world, whereas the US stands in 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.
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 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. Encoders are mostly active feedback devices where the speed or positioning of multi-element conveying systems must be carefully coordinated.
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Growing Industrial Automation Across Industries
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. 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. 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 Market Type Insights
In the type segment, the rotary encoders 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 the increasing trend of industrial automation are among the factors anticipated to drive the growth of the market for rotary encoders during the forecast period.
Encoders Market: Competitive Landscape and Key Developments
Delta Electronics, Inc., Dahua Technology CO., Ltd, Omron Corporation, ELCO Holding, FRABA B.V., FSI Technologies Inc., Renishaw Plc., Rockwell Automation, Inc., Scanlon Encoders A/S and Servotechnik GmbH are among the key players in the global Encoders market. The leading companies focus on the expansion and diversification of their market presence, and acquisition of new customer base, thereby tapping prevailing business opportunities.
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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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About Us:
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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