during the scheduled period. Growing need for high-end automation across industries, expanding automotive markets driving encoder market growth, and increasing government initiatives to drive industrial automation providing opportunities for encoder market.
New York, 07 Dec. 2022 (GLOBE NEWSWIRE) — Reportlinker.com announces the publication of the report “Encoder Market by Encoder Type, Signal Type, Technology, Application and Region – Global Forecast to 2027” – https://www .reportlinker.com/p05803938/? utm_source=GNW
“Rotary encoders are expected to register a larger market share during the forecast period
Rotary encoders can be magnetic or non-magnetic in nature used to measure or convert the angular position, rotations or movement of the shaft into analog or digital signals. Rotary encoders are reliable, accurate and compact, and come with integrated electronics.
The rotary encoder is used in various applications for controlling and monitoring mechanical systems. For example, the rotary encoder is used in robotics, optomechanical mice, industrial control, consumer electronics, healthcare, etc.
Rising demand for automation across various industries is expected to drive the growth of the rotary encoder market.
Consumer Electronics app is expected to register the highest CAGR during the forecast period.
The consumer electronics market is expected to witness significant growth over the forecast period. In consumer electronics, the encoder is used in office equipment such as PC-based scanning equipment, printers, copiers, answering machines, and scanners. For example, the encoder is used to control the operation of the inkjet printer ink head which allows the print head to apply the image to a precisely controlled location on the object.
Using the encoder in the printer can print beautifully and accurately. Likewise, it is also used to control the rotating drum which moves the paper through the printer.
The growth of encoders in consumer electronics applications is due to the expansion of the residential sector, supportive government initiatives, and the large presence of consumer electronics manufacturers.
Asia-Pacific Market is Expected to Grow at the Highest CAGR Over the Forecast Period
In 2021, Asia-Pacific accounted for the highest market share in the encoder market. The regional market here has been segmented into China, Japan, India, South Korea, and Rest of Asia Pacific.
The increase in the number of manufacturing and engineering centers related to various industries is the reason behind the growth of the encoder market in the Asia-Pacific region. Additionally, automotive and consumer electronics industries are supporting the growth of the encoder market in the region.
For example, the Chinese government has placed a strategic emphasis on plug-in hybrid electric vehicles and pure electric vehicles while encouraging the adoption of fuel-efficient hybrid vehicles, the demand for which has been increasing over the years. Likewise in Japan. The rapid movement towards “Society 5.0”, an ultra-intelligent society that is completely connected via IoT, Big Data, AI and other technologies to improve the quality of life, has actively created a window of opportunities for the encoder market.
Key Players profiled in this report are: Renishaw plc (UK), HEIDENHAIN (Germany), FRABA BV (Netherlands), Sensata Technologies Holding plc (US), ifm electronics gmbh (Germany), Mitutoyo Corporation (Japan), Pepperl +Fuchs SE (Germany), Fortive (USA), maxon motor ag (Switzerland), Balluff Inc. (Germany). Pilz GmbH & Co. KG (Germany), Tamagawa Seiki Co., Ltd. (Japan), FAULHABER Group (Germany), Baumer Group (Switzerland), Koyo Electronics Industries Co., Ltd. (Japan), Schneider Electric SE (France), Omron Corporation (Japan), Rockwell Automation, Inc. (USA), SICK AG (Germany), Hengstler GmbH (Germany), Kubler Group (Germany), Elap srl (Italy ), SIKO GmbH (Germany), Nemicon Corporation (Japan) and Gurley Precision Instruments (Japan).
This research report categorizes the encoder market based on type, signal type, technology, application, and region. The report describes the key drivers, restraints, challenges and opportunities pertaining to the Encoders market and forecasts the same till 2027.
Apart from these, the report also includes leadership mapping and analysis of all the companies included in the encoder ecosystem.
Key Benefits of Purchasing the Report:
The report will assist market leaders/new entrants in this market with information on the closest approximations of revenue figures for the overall Encoder market and sub-segments. This report will help stakeholders understand the competitive landscape and acquire more information to better position their businesses and plan appropriate go-to-market strategies.
The report also helps stakeholders understand the pulse of the market and provides them with insights into key market drivers, restraints, challenges, and opportunities.
Read the full report: https://www.reportlinker.com/p05803938/?utm_source=GNW
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