The new report by Expert Market Research titled, ‘Global Encoder Market Size, Share, Price, Trends, Growth, Report and Forecast 2021-2026’, gives an in-depth analysis of the global encoder market, assessing the market based on its segments like type, technology, end use, and major regions like North America, Europe, Asia Pacific, Latin America, Middle East and Africa. The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.
Note 1: For a snapshot of the primary and secondary data of the market (2016-2026), along with business strategies and detailed market segmentation, please click on request sample report. The sample report shall be delivered to you within 24 hours.
Get a Free Sample Report with Table of Contents – https://www.expertmarketresearch.com/reports/encoder-market/requestsample
The key highlights of the report include:
Market Overview (2016-2026)
• Historical Market Size (2020 ): USD 1.92 billion
• Forecast CAGR (2021-2026 ): 8%
• Forecast Market Size (2026 ): USD 3.04 billion
The market for encoder has seen substantial growth due to factors such as surging automation in various industries such as automobiles, healthcare, food and beverage, aerospace, packaging, and electronics, among others . Also, increased knowledge across different industries offers an enormous market opportunity for key players in the encoder market. Encoders are widely used in automated applications because they translate motion into electrical feedback signals to quantify changes in location, speed, count, direction, and linear distance. The use of encoders in the automotive industry to increase efficiency, productivity, and cut costs is fueling market development. Encoders are used to determine position and location-based prompts in automotive vehicles, especially cars, equipped with superior technology and features such as Bluetooth and cellular technology, which is expected to help market growth in the forecast period. The need for incorporating specialised expertise, skills, and experience with digital technologies is growing as the healthcare sector becomes more digitised and as the demand for medical professionals grows. Encoders help in the creation of new lab techniques as well as reducing the risk of medical errors. The use of rotary encoders in precise medical imaging via CT and MRI equipment is also driving market growth. Furthermore, since radiation therapy necessitates linear and angular technology, encoders are used, boosting market development. In addition, the use of encoders in precise portable medical devices with high resolution and precision is expected to fuel industry growth over the forecast period.
Read Full Report with Table of Contents – https://www.expertmarketresearch.com/reports/encoder-market
Industry Definition and Major Segments
A system that converts data from one format to another is known as an encoder. It transforms motion into an electric signal that can be read by control devices including counters and PLCs. It also sends a signal that can be used to determine location, speed, count, and direction.
Based on the type, the industry is divided into:
• Rotary Encoder
• Linear Encoder
Based on the technology, the industry is divided into:
Based on the end use, the industry is divided into:
The regional markets for IoT connectivity include:
• North America
• Asia Pacific
• Latin America
• Middle East and Africa
Encoders are commonly used in a variety of industries to aid development and ensure accuracy. They are used for filling, conveying, motor input, x-y positioning, and registration mark timing, among other things, in the booming food and beverage industry, which is boosting market growth. Encoders are also used to introduce the Internet of Things (IoT), which allows devices to obtain both location and information, thus accelerating market development. Furthermore, the encoder industry is being propelled forward by the growing use of computer numerical control (CNC) machines. The market is being propelled forward by the robust development of the robotics industry and the widespread use of encoders in it. Increased research and development (R&D) in computing and technology has made robot maintenance and installation simpler and more cost-effective, boosting the encoder market’s rise. Encoders are also widely used to ensure the accuracy of automated machines like automated guided vehicles (AGC) or autonomous mobile robots (AMR) for functions like redundancy, lift control, steering assembly, and drive motors. Encoders are being used to evaluate location, pace, count, and direction, which is fueling market development. The encoder industry is expanding due to increased demand and popularity of automated vehicles. Encoders are being used more and more to enhance the user experience by providing real-time speed, rotational positional knowledge, and acceleration, fueling market development.
Key Market Players
The major players in the market are OMRON Corporation, Schneider Electric, Rockwell Automation, Inc., Panasonic Corporation, Sensata Technologies, Inc., Baumer Group, among others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
Global Tattoo Removal Market: https://www.expertmarketresearch.com/reports/tattoo-removal-market
Global Tall Oil Rosin Market: https://www.expertmarketresearch.com/reports/tall-oil-rosin-market
Global System Integration Market: https://www.expertmarketresearch.com/reports/system-integration-market
Global Solar Tracker Market: https://www.expertmarketresearch.com/reports/solar-tracker-market
Global Sodium Lauryl Ether Sulphate [SLES] Market: https://www.expertmarketresearch.com/reports/sodium-lauryl-ether-sulfate-market
Global Photonic Integrated Circuits (PIC) Market: https://www.expertmarketresearch.com/reports/photonic-integrated-circuits-market
Global Photobiostimulation Devices Market: https://www.expertmarketresearch.com/reports/photobiostimulation-devices-market
Global Phosphoinositide 3-Kinase (PI3K) Inhibitors Market: https://www.expertmarketresearch.com/reports/phosphoinositide-3-kinase-inhibitors-market
Global Phosphodiesterase (PDE) Inhibitors Market: https://www.expertmarketresearch.com/reports/phosphodiesterase-inhibitors-market
Global Phenylketonuria Treatment Market: https://www.expertmarketresearch.com/reports/phenylketonuria-treatment-market
Note 2: As the novel coronavirus (COVID-19) continues to spread across the world, our analysts are constantly tracking the impact of this rapidly evolving situation on the markets and the consumer purchase behaviours. Thus, our latest estimates and analysis about the current market trends and forecast will exhaustively reflect the effects of this emerging pandemic.
Expert Market Research is a leading business intelligence firm, providing custom and syndicated market reports along with consultancy services for our clients. We serve a wide client base ranging from Fortune 1000 companies to small and medium enterprises. Our reports cover over 100 industries across established and emerging markets researched by our skilled analysts who track the latest economic, demographic, trade and market data globally.
At Expert Market Research, we tailor our approach according to our clients’ needs and preferences, providing them with valuable, actionable and up-to-date insights into the market, thus, helping them realize their optimum growth potential. We offer market intelligence across a range of industry verticals which include Pharmaceuticals, Food and Beverage, Technology, Retail, Chemical and Materials, Energy and Mining, Packaging and Agriculture.
We also provide state-of-the-art procurement intelligence through our platform, https://www.procurementresource.com. Procurement Resource is a leading platform for digital procurement solutions, offering daily price tracking, market intelligence, supply chain intelligence, procurement analytics, and category insights through our thoroughly researched and infallible market reports, production cost reports, price analysis, and benchmarking.
Informes de Expertos (https://www.informesdeexpertos.com), the Spanish variant of Expert Market Research, is a platform that offers market research and consultancy services to a broad clientele base across Spanish speaking countries. With our primary focus on the Latin America and Spain markets, our research experts provide relevant and actionable insights into the markets and track major trends, economic developments, and global trade data.
Determined to bring client satisfaction, we make sure that our tailored approach meets the client’s unique market intelligence requirements. Our syndicated and customized research reports cover a wide spectrum of industries ranging from pharmaceuticals and food and beverage to packaging, logistics, and transportation.
Company Name: Expert Market Research
Contact Person: Mathew Williams, Business Consultant
Expert Market Research
Toll Free Number: US +1-415-325-5166 | UK +44-702-402-5790
Address: 30 North Gould Street, Sheridan, WY 82801, USA
Country: United States
*We at Expert Market Research always thrive to give you the latest information. The numbers in the article are only indicative and may be different from the actual report.