According to a new report, published by KBV research, The Global Encoder Market size is expected to reach $4.8 billion by 2028, rising at a market growth of 9.1% CAGR during the forecast period.
The Linear segment is showcasing a CAGR of 9.7% during (2022 - 2028). Encoders are known as linear encoders that can detect and digitize linear position and movement. Specialized sensors connected to a scale can see the position and convert it into digital or analogue impulses, offering a readout in digital format. Through a transducer or "cut-outs" on a scale, this type of encoder transmits electrical pulse impulses to the controller. These pulse impulses may be interpreted by the PLC and converted into instructions the machines could follow.
The Industrial segment acquired maximum revenue share in the Global Encoder Market by Application in 2021 thereby, achieving a market value of $1 billion by 2028. In industrial settings, encoders are utilized for conveying, filling, backstop gauging, web tensioning, registration of mark timing, and linear measuring. The most popular use is for electric motor motion control, where feedback is provided. Electric motors in the industrial sector use roughly half of the electricity used in that sector, most of which include encoders. Additionally, heavy-load to light-duty applications use these encoders.
The Absolute segment has shown the growth rate of 10.9% during (2022 - 2028). Instead of using pulses to indicate the location of the encoder, absolute rotary encoders produce a stream of distinct digital codes that measure the object's true position. As soon as they are turned on, they offer distinct position values by scanning the location of a coded piece. Similar to this, absolute linear encoders generate a digital output representing the unit's actual position. In addition, these encoders provide each position a distinct digital value, enabling them to keep accurate position data even during a power outage.
The Optical segment is anticipated to grow at a CAGR of 9.6% during (2022 - 2028). The optical encoder is made up of a light-emitting diode (LED), photosensors, and a code wheel, which is a disc having radial slits in it. It recognizes optical pulse signals that represent rotational position data. The optical encoder has various advantages over rival technologies, which increases demand. By designing a new slit shape, optical encoders can quickly improve their accuracy and resolution because their mechanism relies on identifying the passage of light through the slit.
The Asia Pacific market dominated the Global Encoder Market by Region in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $1.8 billion by 2028. The Europe market is exhibiting a CAGR of 8.9% during (2022 - 2028). Additionally, The North America market would showcase a CAGR of 8.5% during (2022 - 2028).
Full Report: https://www.kbvresearch.com/encoder-market/
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of Renishaw PLC, Dr. Johannes Heidenhain GmbH, Fraba B.V., Sensata Technologies Holdings PLC, IFM Electronics GmbH, Mitutoyo Corporation, Pepperl + Fuchs Group, Fortive Corporation, Maxon Motor Ag, and Balluff GmbH.
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